If a company's net income for the year is $115,000 and its total assets at the beginning of the year were $525,000, while its total assets at the end of the year were $710,000, what is the company's return on assets (ROA)?

If a company's net income for the year is $115,000 and its total assets at the beginning of the year were $525,000, while its total assets at the end of the year were $710,000, what is the company's return on assets (ROA)?

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 9BE

See similar textbooks

Related questions

Q: What is the payback period in years for the machine?

A: Step 1: Given Value for Calculation Purchase Price of Machine = p = $76,000Annual Cash Flow = cf =…

Q: During 2013, Bicket, Inc.s net income was... Please answer the financial accounting question

A: Step 1: Define DividendsThe dividend is described as a portion of a company's profit that is…

Q: What is number of days sales are receivable?

A: Step 1: Define Average Collection PeriodThe number of days that a company takes to convert its…

Q: Overton Company has gathered the following information. Units in beginning work in process Units…

A: Equivalent Units of Production CalculationUsing the provided data and the weighted-average method,…

Q: Financial Account

A: Problem OverviewPeterson Furniture Designs applies the Lower-of-Cost-or-Market (LCM) rule to its…

Q: Please solve this question general accounting

A: Calculation of interest expense for the year ended December 31, 2010:Principal of the note:…

Q: How much manufacturing overhead did Beltran apply during the year?

A: Step 1: Define Predetermined Overhead RateA predetermined overhead rate is an absorption rate that…

Q: What is the holding rate solve this general accounting question

A: Step 1: Given informationRate of return = 5% or 0.05 per yearInvestment = $200Number of years (N) =…

Q: Need help with this accounting problem without use Ai

A: Step 1: Define Budgeted Indirect Cost RateThe Budgeted Indirect Cost Rate is calculated by dividing…

Q: What is the new degree of opereting leverage? General accounting

A: Step 1: Define Operating LeverageOperating leverage refers to a ratio that measures the…

Q: Need general account solutions.

A: To determine the total assets of the business, we use the accounting equation:…

Q: Given the abov information, net income for the year is ???

A: Step 1: Define Net IncomeIn simple terms, the net income of a company is the difference between…

Q: Parker Company has provided the following data for the most recent year: net operating income,…

A: Approach to solving the question: To find the degree of operating leverage, we use the formula:…

Q: Don't use aii solution please given answer financial accounting

A: Let's go through the manual calculation step-by-step. Problem:You have $275,000 and want to grow it…

Q: Financial Account

A: Hope this helps

Q: What is the payback period?

A: To determine the payback period, we calculate the cumulative cash flows year by year until they…

Q: subject is general account

A: Deferred Taxes Disclosure Requirements:Companies are required to disclose information about deferred…

Q: Parker industries purchased a machine solve this accounting questions

A: Step 1: Definition of Units of Production (UOP) DepreciationUnits of Production (UOP) depreciation…

Q: A manufacturer reports the following information on rits product. Solve this question general…

A: Step 1: Define Absorption CostingIn managerial accounting, the product cost can be estimated using…

Q: Q. No. (26) Financial Accounting: Navi, Inc. has a total asset turnover of 3.25 and a net profit…

A: Concept of Return on Equity (ROE): ROE measures a company's profitability by showing how much net…

Q: Please given correct answer general accounting

A: Step 1:Gross margin is known as a company's contribution margin It is the amount that remains after…

Q: The following information that relates to a business is provided (Item and amount): Motor Vehicle,…

A: Explanation of Assets: Assets are economic resources owned by a business that have value and can…

Q: Can you please solve this accounting question?

A: Step 1: Define Total AssetsThe total assets on a balance sheet are the sum of all resources owned by…

Q: What is the payback period for the project of this financial accounting question?

A: Step 1: Define Payback AnalysisThe payback period for a project denotes the time period in which the…

Q: Which of the following accounts has a normal credit balance? 1. Cash 2. Revenue 3. Accounts…

A: Concept of Revenue: Revenue represents the income a company earns from its primary operations, such…

Q: Financial Accounts

A: Explanation of Cost: This represents the amount of money spent by a business to acquire or produce…

Q: Calculate the cash flow dol for this firm ? General accounting

A: Step 1: Define Cash Flow DOLCash flow DOL measure the change in operating cash flow to the change in…

Q: I want to correct answer general accounting questions

A: Step 1: Define Lower-of-cost-or-marketIn applying or implementing the conservatism accounting…

Q: None

A: Step 1: Given Value for Calculation Amount Received in 2 years = a = $43,000Time = t = 9Interest…

Q: Financial Accounting Question

A: Step 1: Define Conversion PriceThe conversion price represents the price per share at which a…

Q: Solve this accounting issue

A: The Fixed Costs are not subject to change when the number of sold increases, thus there is no change…

Q: The following relates to Widmayer, Inc. in 20XX. Purchases $ 6,38,000 Beginning Inventory 1,25,000…

A: 1. Problem OverviewTo calculate the ending inventory, we use the following formula:…

Q: Hello.tutor please provide correct answer general Accounting question

A: Step 1: Define Variable CostingVariable Costing classifies costs as to fixed and variable. All…

Q: Keshena accounting questions

A: Step 1: Define Promissory NotePromissory notes are written documents that contain a promise made by…

Q: General Accounting Question please answer do fast

A: Step 1: Define Inventory TurnoverInventory turnover is a financial ratio that measures how many…

Q: Need help with this question solution general accounting

A: Step 1: Define Stock OutstandingStocks outstanding are the shares that are still held by a company's…

Q: ??

A: Explanation of Predetermined Overhead Rate (POR):The predetermined overhead rate (POR) is a rate…

Q: Solution Want for general account query

A: The correct answer is:d) III only Explanation:In a company's financial statements, the disclosure…

Q: What is the project ending value of the inventory account?

A: Step 1: Understand the components of inventory valuationThe value of inventory is based on the…

Q: I don't need ai answer accounting questions

A: Step 1: Define Assigning Costs to JobsManufacturing costs consist of direct materials, direct labor,…

Q: Hi teacher please help me this question

A: Total Payment = Annual Installment*No. of YearsTotal Payment = 10,500*5Total Payment = $52,500 Total…

Q: get general account answer

A: To calculate the equivalent units of production (EUP) for direct materials and conversion costs in…

Q: O'Neill's Products manufactures a single product. Cost, sales, and production information for the…

A: Variable Costing Income StatementSalesLess: Variable CostsVariable manufacturing costsVariable…

Q: A company sells its product for $33 per unit, with variable costs of $18 per unit and fixed costs…

Q: Given answer financial accounting

A: Step 1: Define Net IncomeIf we deduct all the expenses of a company from revenue then the value…

Q: Solve this question answer Accounting question

A: Step 1: Define Basic Earnings per ShareA company's basic earnings per share is the net income…

Q: Need help with this question solution general accounting

A: 1. Recognized Gain Under IRC Section 351, no gain or loss is recognized whatsoever if:(a) Property…

Q: The Richmond Corporation uses the weighted-average method in its process costing system. The company…

A: Given:Ending WIP inventory: 20,600 unitsCompletion percentage for materials: 100%Completion…

Q: Not use chart gpt provide correct answer general Accounting

A: Solution to the Maintenance Margin Call Price CalculationWe are solving for the price at which the…

Q: Johnson mechanics for the year ?

A: Step 1: Define Net IncomeA company can distribute the net income among the common stockholders as…

Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

What is Acme's net income for the year on these financial accounting question?
What is the company's average total assets for the year on these general accounting question?
.
Assuming that total assets were $8,037,000 at the beginning of the current fiscal year, determine the following: When required, round to one decimal place. a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equity c. Asset turnover d. Return on total assets e. Return on stockholders' equity f. Return on common stockholders' equity % % %
River Corp's total assets at the end of last year were $405,000 and its net income was $32,750. What was its return on total assets?
To calculate a year-to-year percentage change in any financial statement line item such as sales, you determine the current-year amount and prior-year amount and divide the difference by: A) Total assets B) Net income C) The current year’s amount D) The prior years amount
What is Net income?
From the following information for BlueInks Corporation, compute the rate of return on assets. Hint: The numerator is income before interest expense and taxes. Net income $40,878 Total assets at beginning of year $250,100 Total assets at end of year $158,680 a. 15% b. 25% c. 16% d. 20%
Arshadi Corp.'s sales last year were $52,000, and its total assets were $22,000. What was its total assets turnover ratio (TATO)?
the income statement of x ltd for the year ended was as follows: net sales 4032000, cost of sales 3168000, depreciation 96000, salaries and wages 384000, opex 128000, provision for taxation 140800, net operating profit 11520. compute net profit before working capital changes
If sales for the year for the Genco Olive Oil Company is $296,024, net income for the year is $22,965, and average assets during the year is $163,628, then calculate the ROA for the year
What is the return on assets on these financial accounting question?