Last year a company had sales of $460,000, a turnover of 2.5, and a return on investment of 62.5%. The company's net operating income for the year was: $184,000 $287,500 $172,500 $115,000
Q: Provide answer
A: Explanation of Reciprocal Method of Consolidation: The reciprocal method of consolidation is a…
Q: Standard Manufacturers produces steel doors for the furniture industry in a four-stage process…
A: Part (c) - Work in Process Inventory T-AccountHere's the breakdown:Beginning Balance:No beginning…
Q: MCQ The effective interest method is used to? a) Amortize bond premium or discount b) Calculate tax…
A: Explanation of Effective Interest Method: The effective interest method is a technique used to…
Q: What is the company's net operating income on these general accounting question?
A: Step 1: Define Segment ReportingIn management accounting, segment reporting refers to segmented…
Q: Please need answer the accounting question do fast and correct answer
A: Step 1: Define Total CostsThe total costs of a firm can be broadly categorized into fixed costs and…
Q: Master Budget - Solutions 5. The Storm Meadows Resort is preparing a cash budget for July.…
A: Approach to solving the question: For better clarity of the solution, I have attached the Excel…
Q: find the Ending Balance Sheet year 0 and year 1 Cash Receivables Inventories Prepayments Net…
A: Let's start by calculating the ending balance sheet for Year 0. We will use the transactions…
Q: Pam acquired its 80 percent-owned controlling interest in Sam on January 2021 Sam purchased $150,000…
A: In this scenario, Sam (the subsidiary) has purchased Pam's (the parent company) bonds at a price…
Q: 3) Merit & Family purchased engines from Canada for 40,000 Canadian dollars on March 10 with…
A: 1. Record the Foreign Purchase of the Engines (March 10) Transaction: Merit & Family purchased…
Q: Account short answer need
A: Solution:The gross profit percentage is a measure of profitability that compares gross profit (sales…
Q: nik.2
A: preparing Pension Worksheet for Sandhill Corporation's The question contain financial information…
Q: Trini Company set the following standard costs per unit for its single product Direct materials (30…
A: 1. Direct Materials VariancesPrice Variance:Formula: Actual Quantity × (Actual Price - Standard…
Q: Second Thought Products (STP) began operations on January 1, 2021, and adopted the FIFO method of…
A: Step 1: Understanding the Problem The image presents a scenario where a company changed its…
Q: Answer the Problem
A: Approach to solving the question:Please see attached photos for detailed solutions. Thank you.…
Q: Answer in step by step with explanation. Don't use Ai and chatgpt.
A: Break-even time is the time at which NPV is nil.Note that NPV = Present value of cash inflows of…
Q: ram.1
A: The problem involves the determination of the present and future value of annuity. Present value…
Q: Please Provide answer with step by step
A: Step 1: Define Gross Margin: Gross margin is the difference between sales revenue and cost of goods…
Q: Anyone please give me answer of this financial accounting
A: Explanation of Callable Bond: A callable bond is a debt security that gives the issuer the right to…
Q: give correct answer
A: Step 1: Definition of Gross Profit RatioThe gross profit ratio measures the percentage of net sales…
Q: After Buzz Landles drove his pickup in a desert race, the truck needed a new motor. A local mechanic…
A: Step 1: Understand the ProblemGiven Data:Selling Price (charged to Buzz): $3,834Cost of the Motor…
Q: Labor
A: Explanation of Prime Costs:Prime costs are the direct costs incurred in manufacturing a product,…
Q: select option
A: Detailed explanation: 1. Understanding the Question and Information ProvidedThe question provides…
Q: Need answer the financial accounting question please answer do fast
A: Step 1: Define Non-Interest-Bearing NotesNon-interest-bearing notes payable are liabilities that…
Q: None
A: The reaction with ozone is ozonolysis which cleaves the alkenes C=C bond and gives two C=O. Since…
Q: What amount should be reported on the balance sheet for inventory on these general accounting…
A: Step 1: Define Inventory ValuationIn the context of accounting, the valuation methods such as the…
Q: Which of the following is the correct matching concerning the appropriate accounting for long-term…
A: 2nd.Less than 20% - Cost methodWhen the investor has little control over the investee, the cost…
Q: The following partially completed T-accounts summarize transactions for Faaberg Corporation during…
A: Detailed explanation:Based on the T account for Raw Materials, the credit entry to Raw Materials was…
Q: Hendrix Furniture uses a process cost system to account for its guitar factory. Beginning inventory…
A: Part 1: Weighted average method Note: Cost per unit is rounded to 2 decimal places. Part 2: FIFO…
Q: The Golden Gate Company had the following Sales and Expenses during its first year of operations:…
A: Step 1: Definition of Gross MarginGross Margin represents the amount of money a company retains from…
Q: Need answer the accounting question
A: Detailed explanation:Regular Pay Calculation : Annual Salary = $60,000Weekly Salary = $60,000 / 52…
Q: Allerton Company acquires all of Deluxe Company's assets and liabilities for cash on January 1,…
A: Part A: Journal Entry for Acquisition with $167,000 Cash Exchange1. Identify Fair Value of Net…
Q: Sub: Accounting
A: Explanation of Financial Guarantee Contract: A financial guarantee contract is an agreement that…
Q: PT
A: To solve this problem, we need to calculate the allocation of the total annual cost of housekeeping…
Q: Please need Answer please provide full Answer
A: The problem requires the determination of the capital gains yield. A capital gains yield is the rise…
Q: Many businesses borrow money during periods of increased business activity to finance inventory and…
A: 1. Journal Entry on November 1Federal Way receives $4.8 million in cash. This increases the…
Q: 2) On December 1, 20X1, Rone Imports, a U.S. company, purchased clocks from Switzerland for 15,000…
A: To prepare these journal entries, I followed a systematic approach based on foreign currency…
Q: ha.1
A: Computation of Estimated Ending Inventory and Cost of Goods Sold is as follows:Computation of…
Q: The scenario describes a task undertaken by Adam, the managing partner at Novak Accounting Services…
A: Step by Step CalculationsScenario RecapSupport Departments: Billing ($66,000), HR ($113,000), IT…
Q: Borrowing costs on qualifying assets are? a) Always expensed b) Capitalized during the construction…
A: Explanation of Borrowing Costs: Borrowing costs are interest and other expenses that a company…
Q: solve this account query
A: Step 1: Identify Key InformationFrom the given data:Variable production costs = $480,000Variable…
Q: choose right one
A: Step 1: Formula for Gross Margin PercentageThe gross margin percentage indicates how much of each…
Q: Discuss the accounting treatment for joint ventures and the potential impact on the company's…
A: Accounting Treatment for Joint Ventures1. Definition and Classification:A joint venture is a…
Q: Assuming the U.S. dollar is the functional currency, what is the remeasurement gain or loss for…
A: Hope you find the answer useful
Q: Financial Accounting
A: Step 1: Define Intangible AssetsIntangible assets do not have physical existence. These assets are,…
Q: Hello tutor please provide correct solution for this accounting question
A: Step 1:Mixed cost is that cost which includes both components of variable and fixed cost.To…
Q: Explain
A: Computation of total cost of goods in addition to the additional cost particularly paid to purchase…
Q: The following information was taken from Crazy A Corporation's financial statements as of the end of…
A: Step 1: Definition of Gross Profit MarginGross Profit Margin is a financial metric that indicates…
Q: Lawler Clothing sold manufacturing equipment for $25,000. Lawler originally purchased the equipment…
A: Step 1: Determine the Book ValueOriginal Cost: $89,000Accumulated Depreciation: $75,500Book Value =…
Q: None
A: The changes are computed by deducting the difference of the current year and its previous year.2017…
Q: Please prepare this assignment in an Micorsosft Excel Document. Please see the questions:…
A: Adjusting journal entries are made at the end of an accounting period to record any unrecognized…
General accounting
Step by step
Solved in 2 steps
- During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000, 000. What is the sales margin?During the current year, Plainfield Manufacturing earned income of $845,000 from total sales of $9,350,000 and average capital assets of $13,500,000. Using the sales margin from the previous exercise, what is the total ROI for the company during the current year?During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000,000. A. Based on this information, calculate asset turnover. B. Using the sales margin from the previous exercise, what is the total ROI for the company during the current year?
- Strickler Technology is considering changes in its working capital policies to improve its cash flow cycle. Stricklers sales last year were 3,250,000 (all on credit), and its net profit margin was 7%. Its inventory turnover was 6.0 times during the year, and its DSO was 41 days. Its annual cost of goods sold was 1,800,000. The firm had fixed assets totaling 535,000. Stricklers payables deferral period is 45 days. a. Calculate Stricklers cash conversion cycle. b. Assuming Strickler holds negligible amounts of cash and marketable securities, calculate its total assets turnover and ROA. c. Suppose Stricklers managers believe the annual inventory turnover can be raised to 9 times without affecting sale or profit margins. What would Stricklers cash conversion cycle, total assets turnover, and ROA have been if the inventory turnover had been 9 for the year?Last year a company had sales of $400,000, a turnover of 2.4, and a return on investment of 24%. What was the company's net operating income for the year? $40,000 O $96,000 $20,000 O $46,000Last year a company had sales of $410,000, a turnover of 2.1, and a return on investment of 29.4%. The company's net operating income for the year was: Multiple Cholce $63,140 $195,238 $120,540 $57.400
- Last year Green Co. had sales of $800,000, a turnover of 3.5, and a return on investment of 14 %. Green Co.'s net operating income for the year was?Last year a company had sales of $400,000, average operating assets of $166,667, and a return on investment of 18%. What was the company's net operating income for the year? Group of answer choices $30,000 $42,000 $25,500 $60,000 $72,000Last year a company had sales of $400,000, a turnover of 2.4, and a return on investment of 36%. The company's net operating income for the year was: A. B. C. D. E. F. $144,000 $120,000 $80,000 $60,000 $72,000 None of the above
- A company had the following results last year: sales, $700,000; return on investment, 28%; and margin, 8%. The average operating assets last year wereChabot Company had the following results last year: net operating income, $2,160; turnover, 5; and return on investment 18%. Chabot Company's average operating assets what?Calculating Average Operating Assets, Margin, Turnover, and Return on Investment East Mullett Manufacturing earned operating income last year as shown in the following income statement: Sales $3,750,000 Cost of goods sold 2,250,000 Gross margin $1,500,000 Selling and administrative expense 1,200,000 Operating income $ 300,000 Less: Income taxes (@ 40%) 120,000 Net income $ 180,000 At the beginning of the year, the value of operating assets was $1,600,000. At the end of the year, the value of operating assets was $1,400,000. Round your answers to two decimal places, when rounding is required. What is the average operating assets
