Kendrick Industries provided the following financial data: ⚫ Net Income = $30,120 Assets at the Beginning of the Year = $220,000 Assets at the End of the Year = $270,000 Find the return on assets (ROA) in percentage.
Q: what the answer a b c ? general accounting question
A: Part (a): Calculation of Equity MultiplierEquity Multiplier = 1 + Debt Equity Ratio…
Q: Given the solution and accounting question
A: Step 1: Definition of Sales CalculationWe need to determine the sales based on the provided net…
Q: provide correct answer of this General accounting question
A: Step 1: Define Interest Expense on BondsInterest expense on bonds is calculated based on the bond's…
Q: Please Solve Question
A: The Times Interest Earned (TIE) ratio is a measure of a firm's ability to meet its interest…
Q: Account Question answer wanted.
A:
Q: How many units were completed?
A: Units Completed refers to the total number of units that have finished the production process and…
Q: I want to correct answer general accounting question
A: Step 1: Introduction to cost accountingThe field of accounting known as cost accounting is utilized…
Q: Using the information below
A: Concept of Raw Materials Inventory:Raw materials inventory refers to the stock of materials that a…
Q: Kindly help me with this question general accounting
A: Step 1: Define Days Sales Outstanding (DSO) and Accounts ReceivableDays Sales Outstanding (DSO)…
Q: Please give me answer this financial accounting question
A: Step 1: Define Absorption Cost Per UnitThe Absorption Cost Per Unit is the total cost assigned to a…
Q: test test 123
A: Certainly! Let's explore a couple of probability problems with step-by-step solutions to enhance…
Q: Percentage change calculate. Accounting
A: Step 1:Definition of Percentage ChangePercentage change is a financial metric used to measure the…
Q: Please given correct answer general accounting question
A: Step 1: Define Convertible Bond ValueA convertible bond has two components:Bond Value (Investment…
Q: XYZ Services started the year with total assets of $200,000 and total liabilities of $80,000. The…
A: Step 1: Definition of Net IncomeNet Income is the total profit earned by a business after…
Q: Need help this question please
A: Step 1: Definition of After-Tax Loss on Discontinued OperationsAn after-tax loss on discontinued…
Q: None
A: Concept of Overhead CostsOverhead costs refer to the ongoing expenses of operating a business that…
Q: what was the predetermined overhead rate?
A: Step 1: Definition of Predetermined Overhead RateThe Predetermined Overhead Rate (POHR) is the rate…
Q: Need your help with Question
A:
Q: provide correct answer general accounting question
A: Step 1: Define Owner's ContributionThe owner's contribution represents the capital added by the…
Q: The policy at Kingbird, Inc. is to record all office supplies as an asset at the time of purchase.…
A: In accounting, adjusting entries are journal entries made at the end of an accounting period to…
Q: Provide correct option general accounting question
A: Step 1: Definition of Gain or Loss on DisposalThe gain or loss on the disposal of an asset is the…
Q: Subject:-- provide correct answer general accounting
A: Step 1: Definition of Debt-Equity RatioThe Debt-Equity Ratio is a financial metric that measures the…
Q: On July 31, 2025, the general ledger of Cullumber Legal Services Inc. showed the following balances:…
A: Journalizing transactions involves recording the debit and credit of each financial transaction made…
Q: Need correct answer general accounting question
A: Step 1: Define Total AssetsTotal assets include all resources owned by a business that provide…
Q: What was the stockholders equity at year end?
A: Step 1: Definition of Stockholders' EquityStockholders' equity represents the ownership interest of…
Q: Solution needed
A: 1. Contribution Margin per Machine HourGiven Data:Selling Price per unit = $55.00Variable Cost per…
Q: Accounting
A: Step 1: Define ProfitProfit is the financial gain obtained when revenue from selling goods or…
Q: General accounting
A: Step 1: Define Duration GapThe Duration Gap measures the sensitivity of a financial institution's…
Q: Innovative Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable,…
A: Step 1: A two-column journal is used to record the business transaction's debit and credit side…
Q: What is the contribution margin per unit and the contribution margin ratio of this financial…
A: Step 1: Definition of Contribution MarginContribution margin is the difference between the selling…
Q: calculate the predetermined overhead rate.
A: Step 1: Information givenEstimated factory overheads = $950,000Estimated number of direct labor…
Q: What amount of shrinkage occurred during the month?
A: Step 1: Definition of Inventory ShrinkageInventory shrinkage refers to the loss of inventory due to…
Q: General accounting question
A: Step 1: Definition of Asset Turnover RatioThe asset turnover ratio measures how efficiently a…
Q: Compute total manufacturing costs.
A: Step 1: Definition of Total Manufacturing CostsTotal Manufacturing Costs (TMC) refer to the total…
Q: Hudson Industries has income from operations of $48,000, invested assets of $240,000, and sales of…
A: Step 1: Definition of Return on Investment (ROI)Return on Investment (ROI) is a financial metric…
Q: Please help me
A: Concept of Book Value:The book value of an asset represents its net value on the balance sheet,…
Q: Use information. General accounting
A: Step 1: Definition of Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) represents the direct costs…
Q: general accounting
A: Step 1: Definition of Return on Investment (ROI) using DuPont FormulaThe Return on Investment (ROI)…
Q: None
A: we use the formula:ROA = (Net Income / Average Total Assets) × 100Given data:Net Income =…
Q: General Accounting Question
A: Step 1: Define Operating LeverageOperating leverage is a measure of how a company's operating income…
Q: Please solve this accounting problem not use ai
A: Step 1: Definition of Labor Rate Variance and Labor Efficiency VarianceLabor Rate Variance (LRV)…
Q: i need correct answer of this question general accounting
A: Step 1: Define Corporate Tax RatesAverage Tax Rate is the total tax paid divided by taxable…
Q: What is the total fixed cost when nothing is produced?
A: TFC=Fixed Cost per Unit× Number of UnitsFrom the given data:When 30,000 units are produced, the…
Q: Please provide correct solution this financial accounting question not use ai
A: Step 1: Definition of Net IncomeNet income represents the company's total earnings after deducting…
Q: What is the required return?? Accounting
A: The required return is calculated as:Required Return = Risk - Free Rate + Risk…
Q: What is the adjusted book balance of this financial accounting question?
A: Step 1: Define Adjusted Book BalanceThe adjusted book balance is the corrected cash balance after…
Q: What is the return on common stockholders equity for these financial accounting question?
A: Step 1: Define Return on Common Stockholders' Equity (ROE)Return on Equity (ROE) measures a…
Q: Financial Accounting Question
A: Step 1: Definition of Interest RevenueInterest revenue is the income earned from investments in…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Acid-Test Ratio (Quick Ratio)The Acid-Test Ratio, also known as the Quick…
Q: Get correct answer this general accounting question not use chatgpt
A: Step 1: Introduction to inventoryInventory refers to the goods and materials that a company holds…
Step by step
Solved in 2 steps with 3 images
- Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.Answer this Financial Accounting
- What is the return of assetsBlossom Company reports the following information (in millions) during a recent year: net sales, $23,575.2; net earnings, $653.6; total assets, ending, $9,055.2; and total assets, beginning, $8,933.4. Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin ratios. (Round answers to 1 decimal place, e.g. 15.2% or 15.1.) (1) (2) (3) Return on assets Asset turnover Profit margin % times %Compute the return on total assets for the year of this financial accounting question
- Answer ?Calculating the Average Total Assets and the Return on Assets The income statement, statement of retained earnings, and balance sheet for Santiago Systems are as follows: Santiago Systems Income Statement For the Year Ended December 31, 20X2 Amount Percent Net sales $5,345,000 100.0% Less: Cost of goods sold (3,474,250) 65.0 Gross margin $1,870,750 35.0 Less: Operating expenses (1,140,300) 21.3 Operating income $730,450 13.7 Less: Interest expense (27,000) 0.5 Income before taxes Less: Income taxes (40%)* $703,450 13.2 (281,380) 5.3 Net income $422,070 7.9 * Includes both state and federal taxes.Benson Company’s net income was $225,000 for Year 1, $243,750 for Year 2, and $293,160 for Year 3. Assume trend percentages for net income over the three-year period are computed, with Year 1 serving as the base year.The trend percentage for Year 3’s net income is: Select one: A. 117.30% B. 86.36% C. 120.92% D. 130.29%
- If the following financial information related to XYZ Company. Total Revenues last year $870, depreciation expenses $40, costs of goods sold $350, and interest expenses $50. At the end of the year, current assets were $100 and current liabilities were $105. The company has an average tax rate of 30%. Calculate the net income for XYZ Company by setting up an income statement.Following are financial statement numbers and ratios for Martin Corp. for the year ended December 31, Year 1. Total revenue (in millions) $47,248 Net operating profit margin (NOPM) 8.8% Net operating asset turnover (NOAT) 3.3 If we expected revenue growth of 3.5% in the next year, what would projected revenue be for Year 2? Select one: a. $47,248.0 b. $44,598.3 c. None of these are correct d. $48,901.7 e. $53,205.0Calculating the Average Total Assets and the Return on Assets The income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows. Also, assume a tax rate of 31%. Somerville CompanyIncome StatementFor the Year Ended December 31, 20X2 Amount Percent Net sales $8,281,989 100.0% Less: Cost of goods sold (5,383,293) 65.0 Gross margin $2,898,696 35.0 Less: Operating expenses (1,323,368) 16.0 Operating income $1,575,328 19.0 Less: Interest expense (50,000) 0.6 Income before taxes $1,525,328 18.4 Less: Income taxes (31%)* (472,852) 5.7 Net income $1,052,476 12.7 * Includes both state and federal taxes. Somerville CompanyStatement of Retained EarningsFor the Year Ended December 31, 20X2 Balance, beginning of period $1,979,155 Net income $1,052,476 Total $3,031,631 Preferred dividends (80,000) Dividends to common stockholders (201,887) Balance, end of period…