Metric Summit Corp. (in $ millions) Valley Inc. (in $ millions) Net Income 2023 $280 Net Sales 2023 $2,450 Total Assets 12/31/21 $1,850 Total Assets 12/31/22 $2,100 Total Assets 12/31/23 $2,400 $620 $6,800 $3,200 $4,100 $5,000 What is Valley Inc.'s return on assets (ROA) for 2023? a. 12.4% b. 13.63% c. 13.8% d. 14.2%
Q: Hello tutor please given correct answer general Accounting
A: Step 1: Calculate Total Machine Hours for Each Product• Formula: Total Machine Hours per Product =…
Q: hello Sir Please Need Answer of this General Accounting Question
A: Step 1: Definition of Annual Net Income CalculationThe annual net income can be calculated by…
Q: Calculate the net income for the firm. General accounting
A: Step 1: Define Retained EarningsRetained earnings refer to the accumulated net income earned since…
Q: Please need answer the general accounting question
A: Inventory is recorded on the balance sheet at the lower of cost or market value.In this case:Cost of…
Q: Please provide this question solution general accounting
A: Step 1: Definition of Depreciable CostDepreciable cost is the portion of an asset's cost that is…
Q: Asuma Company's high and low level of activity
A: Explanation of High-Low Method:The high-low method is a technique used in cost accounting to…
Q: Get correct answer general accounting
A: To prepare the intangible assets section of the balance sheet for Summit Industries as of December…
Q: Hi expert please give me answer general accounting
A: Approach to solving the question: Interest = Principal x Rate x Time = 180,000 x 8% x…
Q: Financial accounting questions
A: Step 1: Define Overhead Allocation RateManufacturing overhead cannot be traced directly to jobs in…
Q: In corporation receives solve this accounting questions
A: Interest income is generally fully taxable for corporations unless it comes from tax-exempt sources…
Q: I don't need ai answer general accounting question
A: Step 1: Define Asset Turnover RatioThis ratio measures the efficiency of a company's use of its…
Q: Provide answer financial accounting
A: Step 1: Define Overhead RateOverhead rate mean the predetermined rate of the overhead for the…
Q: Subject = General Account
A: Explanation for 1: The ending inventory using retail inventory method is calculated by applying the…
Q: Financial accounting questions
A: Step 1: Define Annual Interest RateAn annual interest rate is a nominal rate of return on an…
Q: Need Answer of this cost account query
A: Step 1: Compute the total equivalent units of conversion cost as follows:Computation of Total…
Q: Need answer the general accounting question
A: Step 1: Define TurnoverTurnover in ROI (Return on Investment) analysis is a measure of how…
Q: I won't this question general Accounting
A: Step 1: Define Entries for Notes ReceivablesNotes receivables is a written promissory note received…
Q: Provide correct answer in this general account questions
A: Understanding the Differences between Public and Private Savings from an Economic StandpointSaving…
Q: Hi expert please give me answer general accounting question
A: Step 1: Define Retained EarningsThe firm's retained earnings is a source of available fund to…
Q: Answer? ? General Accounting question
A: Step 1: Identify the high and low data points based on client-visitsStep 2: Calculate the variable…
Q: Solve it
A: To determine the unit product cost under variable costing, only the variable manufacturing costs are…
Q: Find the answer
A: Explanation of Outstanding SharesOutstanding shares represent the total number of shares that are…
Q: General Accounting Question please solve this problem
A: Step 1: Define Lower of Cost or Market (LCM)The lower of cost or market (LCM) rule requires…
Q: IF THE GOVERNMENT COLLECTS MORE IN TAX REVENUE THAN IT SPENDS, AND HOUSEHOLDS CONSUME MORE THAN THEY…
A: Given Conditions:Government collects more in tax revenue than it spends: This indicates a budget…
Q: When should modified attribute mapping replace standard classification? Want answer for this…
A: Modified attribute mapping is used when complex characteristics require a more specialized…
Q: I need answer of this accounting questions
A: To calculate Gross Profit and Operating Income under absorption costing, follow these steps: 1.…
Q: How do cost-plus-incentive contracts affect revenge recognition timing?
A: Under cost-plus-incentive contracts, revenue is typically recognized based on estimates, including…
Q: Product O?
A: Explanation of Cost Pool: This represents a grouping of individual overhead costs that have a…
Q: Given correct answer general Accounting
A: Step 1: Formula The formula for Gross Profit Percentage is: Gross Profit Percentage = (Gross Profit…
Q: Need answer to this accounting question
A: Explanation of Beginning Total Assets: This represents all the resources that Verma Inc. owned at…
Q: Pioneer Tools normally sells it's product for.... Give true answer the accounting question
A: The value of inventory at the lower of cost or market is determined by comparing the cost of the…
Q: How much is direct labor cost?
A: Explanation of Total Manufacturing Costs:Total manufacturing costs represent the sum of all expenses…
Q: Please need answer the general accounting question
A: Step 1: Define Absorption Costing Unit Product CostUnder absorption costing, the unit product cost…
Q: WHICH ANSWER IS CORRECT?
A: Explanation:Sustainability impact measurement requires special approaches because traditional…
Q: Marshall manufacturing had the following production solve this accounting questions
A: Step 1: Definition of Equivalent units of production (EUP)Equivalent units of production (EUP)…
Q: Maize company incurs a cost solve this accounting questions
A: Step 1: Define Net IncomeIn accounting, the net income of a business refers to the total income a…
Q: Provide solution step by step
A: Explanation of Asset Turnover:Asset turnover is a financial ratio that evaluates a company's…
Q: I won't to this question answer general Accounting
A: To determine the annual interest rate needed for your parents' savings to grow from $350,000 to…
Q: General accounting
A: Step 1: Identify the bond's par value, coupon payment, and time to maturity.Step 2: Calculate the…
Q: Roth Inc. has a deferred tax liability of $68,000 at the beginning of 2013. At the end of 2013, it…
A: Step 1: Key DefinitionsIncome Tax Expense includes both:Current tax expense (based on taxable income…
Q: Subject:- General Account
A: Option a: This option is incorrect because when you do the solution below it will not result to…
Q: On January 1, Valuation Allowance for trading... Please solve this financial accounting
A: Step 1: Define Trading InvestmentTrading investment is when an investor buys and sells securities or…
Q: If UPPA Company had net income of $561,600 in 2022 and it experienced a 17% increase in net income…
A: Explanation of Net Income:Net income is the total profit of a company after subtracting all…
Q: Need Answer of this Accounting Question
A: Step 1: Concept of High and Low Volume Method:This type of method is used by the manufacturing units…
Q: Need solution
A: Explanation of Direct Materials Cost: This represents the cost of raw materials that can be directly…
Q: Solve
A: Explanation of Stock Dividends:Stock dividends refer to the distribution of a company's own shares…
Q: Blue Sky Company reports the following costing data on its product for its first year of operations.…
A: Part (a): Determine Unit Product Cost Under Variable CostingVariable Costing includes only the…
Q: Tag. General Account
A: The scenario has two key points:Government collects more in tax revenue than it spends: This is a…
Q: Only expert of financial accounting can accept this
A: Explanation of Net Income:Net Income refers to the total profit a company earns during a specific…
Q: If cleveland motors had an ebit solve this accounting questions
A: Step 1: Define Net IncomeThe net income of a firm is the remainder of annual revenue after all…
Kindly help me Accounting question
Step by step
Solved in 2 steps
- The following information is provided for Company A and Company B. (in $ millions) Net income 2028 Net sales 2028 Total assets 12/31/26 Total assets 12/31/27 Total assets 12/31/28 What is Company B's return on assets for 2028? OA) 14.0% OB) 10.5% OC) 12.0% Company A $165 1,650 1,000 1,050 1,150 OD) 15.6% Company B $ 420 4,900 2,400 3,000 4,000Below is Company A's balance sheet at the end of 2022. What is the gross profits of Company A? 2022 AmountNet sales$1,000.0Variable operating costs 770.0Fixed operating costs 50.0Depreciation and 50.0Interest30.0Taxes20.0Preferred dividends5.0Common dividends25.0 amortization Group of answer choices $130 $230 $180 $1,000The following information is provided for Oceanic Ventures and Pinnacle Holdings: (in $ millions) Oceanic Ventures Pinnacle Holdings Net income 2021 $280 $640 Net sales 2021 3,500 7,200 Total assets 12/31/19 2,400 4,600 Total assets 12/31/20 2,700 5,000 Total assets 12/31/21 3,000 5,500 Capital expenditures $150 $300 What is Pinnacle Holdings' return on assets (rounded) for 2021?
- The following information is provided for Sandhill Company and Indigo Corporation. (in $ millions) Sandhill Company Indigo Corporation Net income 2022 $125 $375 Net sales 2022 1540 4500 Total assets 12/31/20 1045 2010 Total assets 12/31/21 1220 3150 Total assets 12/31/22 1175 4070 What is Indigo's return on assets for 2022?general accountThe following information is provided for Oceanic Ventures and Pinnacle Holdings: Oceanic Ventures Pinnacle Holdings (in $ millions) Net income 2021 $280 $640 Net sales 2021 3,500 7,200 Total assets 12/31/19 2,400 4,600 Total assets 12/31/202,700 5,000 Total assets 12/31/21 3,000 5,500 Capital expenditures $150 $300 What is Pinnacle Holdings' return on assets (rounded) for 2021?
- The following financial information is provided for Brightstar Corp.: Net Income (2023): $500 million Total Assets on January 1, 2023: $3,500 million Total Assets on December 31, 2023: $4,500 million What is Brightstar Corp. _ s return on assets (ROA) for 2023? A. 11.80% B. 12.50% C. 13.20% D. 14.00%Calculate evergreen inc.'s ROA for 2023?The following information is provided for Cullumber Company and Bramble Corporation. (in $ millions) Cullumber Company Bramble Corporation Net income 2022 $145 $415 Net sales 2022 1755 4610 Total assets 12/31/20 1025 2330 Total assets 12/31/21 1260 3000 Total assets 12/31/22 1150 4080 What is Bramble's return on assets for 2022? (Round answer to 1 decimal place, e.g. 15.2.) 11.5% 13.8% 10.2% 11.7%
- need this general account subjects solutionsThe following information is provided for Globe Enterprises and Summit Solutions: (in $ millions) Globe Enterprises Summit Solutions Net income 2020 $400 $720 Net sales 2020 3,200 8,100 Total assets 12/31/18 2,500 5,200 Total assets 12/31/19 2,800 5,800 Total assets 12/31/20 3,000 6,400 Revenue from investments $300 $600 What is Summit Solutions' return on assets (rounded) for 2020?mework i 0 ences Mc Graw Hill INCOME STATEMENT OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) Net sales Costs Depreciation Earnings before interest and taxes (EBIT) Interest expense Pretax income Federal taxes (@ 21%) Net income Assets Current assets Cash and marketable securities Receivables Inventories Other current assets Total current assets Fixed assets Property, plant, and equipment Intangible assets (goodwill) Other long-term assets Total assets a. Free cash flow b. Additional tax c. Free cash flow million million million $ 27,571 17,573 1,406 $ 8,592 521 2022 8,071 1,695 $ 6,376 BALANCE SHEET OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) 2021 $ 2,340 1,379 126 1,093 $ 4,938 $ 24,681 2,808 2,987 $ 35,414 $ 2,340 1,339 121 620 $ 4,420 Saved $ 22,839 2,657 3,103 Liabilities and Shareholders' Equity Current liabilities Debt due for repayment Long-term debt Other long-term liabilities Total liabilities Total shareholders' equity $ 33,019 Total liabilities and…