If a business has a net income of $44,700 and total equity of $111,750, what is the ROE?  a.10% b. 15% c.44% d.40%. Want Correct Answer

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A: The correct answer is:b. Profits fluctuate with sales. Explanation:Direct (Variable) Costing…

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A: Step 1: Identify the values- Fixed Costs = $72,000  - Selling Price per Unit = $63  - Variable Cost…

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A: Option a: This option is incorrect because when a company purchases inventory on credit, it results…

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A: DSO = (Average accounts receivable / Annual sales) x Number of days in the yearDSO = (90,000 /…

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A: Step 1: Define Absorption CostingAbsorption costing is also known as full costing and it is used by…

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A: Explanation of Assets:Assets are resources owned by a company that have monetary value and are…

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A: To calculate the unit product cost under variable costing, we consider only the variable production…

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A: Conversion Cycle = Days Inventory Outstanding + Days Sales Outstanding − Payables…

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A: Step 1: Definition of Gross ProfitGross profit is the difference between the selling price and the…

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A: Explanation of Predetermined Overhead Rate:The predetermined overhead rate is a method used to…

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A: Step 1: Define Gross ProfitNet sales are reduced by the cost of products sold to generate gross…

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A: To calculate the equivalent units of production (EUP) for the Sewing Department using the weighted…

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A: Explanation of Beginning Inventory:Beginning Inventory refers to the value of goods available for…

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A: The correct answer is:d. Assets. Detailed Explanation:The statues and garden decorations in the…

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A: Step 1: Define Gross ProfitIn financial accounting, the determination of gross profit is a…

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A: Step 1: Define Inventory Carrying CostInventory carrying cost refers to the total expense incurred…

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A: Step 1: Define Predetermined Overhead RateThe predetermined overhead rate is calculated before the…

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A: Step 1: Determine Gross Margin: Subtract the cost of goods sold (COGS) from net sales.Step 2: Apply…

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A: Step 1: Key InformationUnits in Beginning Work-in-Process (WIP): 3,000Conversion costs: $5,400.Units…

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A: Step 1: Define Key RatiosProfit Margin is the ratio of net income to sales. It measures how much…

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A: Step 1: Determine the Price per ShareStep 2: Substitute the given values into the formula to…

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A: The accounting equation states:Assets = Liabilities + EquityFor the Equity:Equity = Assets −…

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A: Explanation of Gross Profit: Gross profit represents the difference between total sales revenue and…

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A: Step 1: Definition of Degree of Operating Leverage (DOL)The Degree of Operating Leverage (DOL) is…

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A: Detailed explanation:Given:Sales on account, $ 960,000Accounts receivable beginning of year, $…

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A: Step 1: Define Gross MarginGross margin is the difference between the cost of goods sold and sales…

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A: Step 1: Define Inventory TurnoverInventory Turnover is a measure of how efficiently a company…

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A: Step 1: Calculate the selling price per unitStep 2: Calculate the variable cost per unit:Step 3:…

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A: Step-by-Step Explanation Given the belowActivity Cost PoolTotal CostTotal ActivityResearching legal…

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A: Step 1: Definition of Conversion TermsConversion Price: The price per share at which a convertible…

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A: Entry AnalysisThe journal entry is:              Debit: Depreciation Expense6,000…

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A: Step 1: Define EOQ (Economic Order Quantity)The Economic Order Quantity (EOQ) is the order quantity…

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A: Explanation of Profit Margin:Profit Margin is a financial metric that shows the percentage of…

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A: Approach to solving the question: The basic formula of Asset Asset = Liabilities + Owner's…

Q: What is the company's gross profit on these general accounting question?

A: Step 1: Formula Gross profit = Net sales - Cost of goods soldGross profit = (Sales revenue - Sales…

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A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is calculated by…