Langford Corporation provided the following financial data: • Net Income = $27,600 Assets at the Beginning of the Year = $198,000 = Assets at the End of the Year = $242,000 Find the return on assets (ROA) in percentage.
Q: Provide Answer
A: To determine the amount of collections from customers, we use the Accounts Receivable…
Q: What is the ROE accounting question
A: Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) is a profitability ratio that…
Q: Financial Accounting
A: Step 1: Define Shareholders' EquityShareholders' Equity, also known as Stockholders' Equity,…
Q: Need step by step answer
A: Explanation of Work in Process (WIP) Inventory:Work in Process (WIP) Inventory consists of partially…
Q: A retail company had total operating costs of $750,000 when it processed 300,000 orders. The…
A: Step 1: Analysis of information givenHigh Activity: Total Cost of $900,000 at 375,000 ordersLow…
Q: Please help me
A: To determine the change in the average accounts receivable balance that Axay Corporation must…
Q: Get correct solution this general accounting question
A: Step 1: Definition of Activity RateThe activity rate in activity-based costing is the cost assigned…
Q: I need help with this solution and accounting question
A: Step 1: Definition of Cash Collected from CustomersCash collected from customers represents the…
Q: 4 POINTS
A: Approach to solving the question: identifying Detailed explanation:Operational efficiency…
Q: No Ai
A: Concept of Beginning Inventory: Beginning inventory refers to the value of the inventory that a…
Q: 1.Charlotte Metals' operating activities for the year are listed below: Operating revenues $30.*…
A: Question - 11: Cost of Goods Sold (COGS) for Charlotte MetalsThe Cost of Goods Sold (COGS) is…
Q: what must have been its sales revenue?
A: Step 1: Definition of Break-Even Point and Operating LossThe break-even point is the level of sales…
Q: Provide correct option general accounting question
A: Step 1: Definition of Gross Profit RatioThe Gross Profit Ratio measures the percentage of net sales…
Q: What was the net income for the period
A: Concept of Revenue on Account:Revenue on account refers to the income generated by a company through…
Q: Solve this ass
A: 1.1.13 - What governs the allocation of joint product costs at the split-off point?Answer: (b)…
Q: What is the true answer? Financial accounting question
A: We'll use the Cash Flow from Assets (CFA) approach:CFA=OCF−Change in Net Working Capital−Net Capital…
Q: Please see an attachment for details general accounting question
A: Step 1: Define Credit SalesCredit sales refer to sales made on account, meaning the company allows…
Q: hello teacher please help me accounting question
A: Step 1: Definition of Operating Leverage EffectOperating leverage measures how sensitive a company's…
Q: The investment turnover for apex industries is.??? Financial accounting
A: Step 1: Definition of Investment TurnoverInvestment turnover is a financial metric used to assess…
Q: None
A: Step 1: Definition of Operating LeverageOperating leverage measures the sensitivity of a company's…
Q: Solve all 4 questions urg
A: In accounting, cross-dimensional analysis refers to the process of evaluating multiple aspects of a…
Q: Townsend Manufacturing has a predetermined overhead rate of $5 per machine hour. Last year, the…
A: Step 1: Definition of Over-Applied OverheadOver-Applied Overhead occurs when the applied…
Q: Give me answer please general accounting question
A: I'll use the discounting method for a note discounted before maturity.Step 1: Use the Discount…
Q: What is the present value of this investment?
A: PV = Annual Payment / Interest RateGiven information:Annual interest payment = $3.2 millionMarket…
Q: What is the gross margin of this financial accounting question?
A: Step 1: Introduction to income statementIncome statement is referred to as the financial statement…
Q: At year-end, Green Tech Inc. has cash of $20,000, current accounts receivable of $50,000,…
A: Step 1: Definition of Average Collection PeriodThe average collection period measures the average…
Q: I want to correct answer general accounting question
A: Step 1: Definition of Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) is the total cost incurred…
Q: How much overhead should be applied?
A: Explanation of Activity Base: An activity base is a measure of production volume or activity that…
Q: General accounting
A: Step 1: Calculation of Discount AmountStep 2: Calculation of Cash Proceeds Cash Proceeds = Face…
Q: Accurate Answer
A: Provided Data:Days of Sales Outstanding: 23.4 daysDays of Inventory on Hand: 45.9 daysDays of…
Q: Kenwood would repya gross profit of
A: Concept of Gross ProfitGross profit is the difference between a company's sales revenue and the cost…
Q: Total costs were $81,300 when 33,000 units were produced and $102,500 when 42,000 units were…
A: The High-Low Method is a technique used to estimate fixed and variable costs based on the highest…
Q: general accounting
A: Step 1: Definition of Ending Work in Process (WIP) InventoryEnding Work in Process (WIP) Inventory…
Q: Zenith Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of…
A: Step 1: Definition of Predetermined Overhead Rate The Predetermined Overhead Rate is a calculated…
Q: Subject accounting
A: Step 1: Calculation of Price to Earnings (P/E) ratioStep 2: Calculation of Expected Price of Swift…
Q: General Accounting Question
A: Step 1: Definition of Variable CostingVariable costing is a costing method where only variable…
Q: American Tech Solutions owns a subsidiary in Germany. The subsidiary had taxable income of $80…
A: Step 1: Definition of Tax on Foreign Subsidiary IncomeU.S. corporations generally owe taxes on…
Q: What is the breck even point in bags?
A: The break-even mark for Harvest Farms Ltd., which retails 40-pound bags of apples at $12 each, is…
Q: Solve this financial accounting problem
A: Explanation of Equity: Equity represents the residual interest in the assets of an entity after…
Q: Fusion Ltd. sold electronics on account for $72,000 and paid expenses totaling $30,000. What is…
A: Explanation of Revenue:Revenue is the total amount of money a business earns from selling goods or…
Q: Create same table for the below info - ensure that the journal entries in the table balances just…
A: FlagStaff Ltd. Pension Worksheet—2020General Journal EntriesItemsAnnual Pension…
Q: Answer with accounting
A: Step 1: Definition of Days' Sales UncollectedDays' Sales Uncollected is a financial metric that…
Q: The July 1 work-in-process inventory consisted of 5,200 pounds with $16,500 in materials cost and…
A: To compute the equivalent units of production (EUP) for conversion, we use the weighted-average…
Q: ??!
A: Solution:Return on Equity (ROE) = Net Income / Average Equity20% = Net Income / [(500,000 + 650,000)…
Q: Answer this Question
A: To determine Sophia's taxable gain on the sale of her home, follow these steps:Calculate the…
Q: Can you help me with accounting questions
A: Step 1: Definition of Operating LeverageOperating leverage measures the sensitivity of operating…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Gross Profit RateThe Gross Profit Rate measures the percentage of revenue that…
Q: Accurate Answer
A: Provided Data:Total manufacturing costs for FY 2022: $408,000Cost of goods manufactured for FY 2022:…
Q: What is the gross profit margin?? Accounting
A: Step 1: Definition of Gross Profit MarginGross profit margin is a financial metric used to assess a…
Q: Not ChatGPT solution
A: Calculation of Predetermined Overhead RatePredetermined Overhead Rate = Estimated Total Factory…
General accounting
Step by step
Solved in 2 steps
- 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.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.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%
- AccountingAnswer ?Sunland Company reports the following information (in millions) during a recent year: net sales, $11.257.9; net earnings, $327.9. total assets. ending. $5,560.0; and total assets, beginning, $5,370.0. (a) Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin. (Round answers to 1 decimal place, e.g. 6.2% and 6.2.) 2 3. Return on assets Asset turnover Profit margin times
- Need helpBlossom 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
- What is the return of assetsCalculating 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.Calculating 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…