The following information is provided for Sheridan Company and Grouper Corp. Sheridan Company Grouper Corp. (in $ millions) Net income 2017 $120 $445 Net sales 2017 1,390 4,510 Total assets 12/31/15 1,050 2,120 Total assets 12/31/16 1,070 3,140 Total assets 12/31/17 1,195 $4,090 What is Grouper's return on assets (rounded) for 2017?
Q: On December 31 borrowed this question solution general accounting
A: Step 1: Define Capitalized InterestThe accumulated interest amount added to the face value of…
Q: Mitvhel corporation manufactures...Accounting
A: Absorption Costing NOI = Variable Costing NOI + Fixed Manufacturing Overhead Released from…
Q: Solve this question given option accounting
A: Step 1: Define Operating Leverage Multinational organizations spend their reserves in acquiring…
Q: Provide this question solution general accounting
A: Step 1:Assets turnover ratio=Net sales/average asset Average asset=( beginning asset+ ending…
Q: Select Apparel purchased 90 new shirts and recorded a total cost of $2,807 determined as follows:…
A: What Costs Are Included in Inventory?Under the perpetual inventory system, the cost of inventory…
Q: Provide this question solution general accounting
A: Step 1: Define Degree of Operating LeverageDegree of operating leverage is a financial multiple that…
Q: Swifty Company exchanged equipment used in its manufacturing operations plus $3,180 in cash for…
A: Step 1: Introduction to property, plant and equipmentProperty, plant, and equipment refers to those…
Q: Provide this question solution general accounting
A: Step 1: Define LiabilitiesLiabilities are the amount payable to the outside parties. The liabilities…
Q: Calculate this Question
A: Explanation of Total Available Units: Total available units refer to the total stock of items that…
Q: If you give me wrong answer I will give you unhelpful rate on these general accounting question
A: Step 1: Define Work in Process InventoryWork in process or WIP is an inventory consisting of the…
Q: The office supplies expense for the period is:
A: Step 1: Calculate the total supplies available:Total supplies available = Beginning supplies +…
Q: Sunny corporation this question solution general accounting
A: Step 1: Define Long-term DebtsLong-term debts refer to the amount of debt that a corporation holds…
Q: Need help with this accounting question not use Ai
A: Step 1: Using the High-low method, first, calculate the variable cost per machine hour then using…
Q: Need HElp with Accounting MEtter
A: Question 1: Absorption vs. Variable Costing Step 1: Understand the Key ConceptsAbsorption…
Q: Please solve these general accounting problem
A: Step 1: Define Cash CollectionsThese are cash receipts collected from the payment of customers from…
Q: Don't use ai
A: Explanation of Principle of Articulation: The principle of articulation is a fundamental accounting…
Q: Please provide this question solution accounting
A: Step 1: Define Gross ProfitThe gross profit is the profit before taxes and after deducting all types…
Q: Dell Incorporated is the leading manufacturer of personal computers. In a recent year, it reported…
A: The first step in calculating the inventory turnover ratio is to find the average inventory for the…
Q: Give true answer this general accounting
A: Step 1: Define Segmented Income StatementThe breakdown of revenues and expenses by company units,…
Q: Provide answer to this Question
A: Economic Entity Concept in AccountingThe economic entity concept is a fundamental accounting…
Q: Solve with explanation accounting
A: Step 1: Define Promissory NotePromissory Note is a written promise to pay issued by the debtor to…
Q: Accounting question given answer
A: Step 1: Present Value of Future Cash FlowsThe formula for Present Value (PV) of each cash flow…
Q: If you give me wrong answer I will give you unhelpful rate on these general accounting question
A: Step 1: Define Factory overheadFactory overhead refers to the cost that the firm incurs during the…
Q: Provide this question solution general accounting
A: Part a: When dividends grow at 2%Given:Dividend next year (D₁) = $10Required rate of return (r) = 5%…
Q: Please Tutor give me solution
A: To find the total contract value of the bookings, we follow these steps: Step 1: Understand the…
Q: I want to correct answer general accounting
A: Step 1: Define Manufacturing OverheadThe manufacturing overhead cost represents the indirect…
Q: General Fund Budget and Closing Entries The adjusted preclosing trial balance for Whiskey Run…
A: Estimated Revenues and Other Financing Sources:Estimated Revenues: $46,000Estimated Other Financing…
Q: I want to correct answer accounting
A: Step 1: Define Payout Ratio And Return On AssetsPayout Ratio And Return On Assets are financial…
Q: Provide this question solution general accounting
A: Step 1: Calculate the sales revenue.= selling price per pie x expected pies to be sold= 6 x 100= 600…
Q: Please provide this question solution accounting
A: Step 1: Definition of Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) represents the direct costs…
Q: Bank Reconciliation Arthur's mens shop November 30, 20 --
A: Step 1: Bank Reconciliation Statement or BRS is a summarized comparison report of the balances of…
Q: General Accounting
A: Highest activity level: February with 2,600 machine hours and $1,200 cleaning expense.Lowest…
Q: Bichom company manufactures two ....given answer Accounting
A: Step 1: Define Setup CostsSetup costs are the form of expenses that are incurred in relation to…
Q: Gross Profit
A: Explanation of Sales Revenue:Sales revenue refers to the total income generated by a company from…
Q: Answer step by step
A: Explanation of Gross Sales: Gross sales represents the total amount of revenue generated from all…
Q: I need answer this accounting question
A: Step 1: Define Promissory NoteA promissory note is a financial instrument issued by companies to the…
Q: During 20Y5, Jackson Computer Supply produced income from operations of $95,000 from sales of 80,000…
A: Sales units: 80,000Selling price per unit: $2.50Total sales revenue: 80,000 × $2.50 = $200,000Fixed…
Q: On June 15, Oakley Inc. Sells merchandise on account to Sunglass Hut... Please provide answer this…
A: Step 1: Define Sales On AccountA sale on the account and its related transactions under a perpetual…
Q: Give true answer this general accounting question
A: Step 1: Define Standard CostStandard costing is the process of applying estimated cost to determine…
Q: Financial Accounting Question please answer
A: Step 1: Define Ending EquityEnding Equity is described as an amount left after having all the…
Q: Need help with this accounting questions
A: Step 1: Define Incremental AnalysisIncremental analysis is a helpful tool for choosing the better…
Q: The Tacoma Recycling Company (TRC) purchases old water and soda bottles and recycles them to produce…
A: Key Details:Sales Revenue: Table Covers: Sold 22,000 units at $11 each → Revenue = 22,000 × 11 =…
Q: Need answer the accounting question please answer do fast
A: Step 1: Define Organizational ExpendituresThe amount a new corporation can deduct for organizational…
Q: None
A: Step 1:1. Equivalent units of production for materials and conversion for April EUP - Weighted…
Q: Please give me answer Accounting question
A: Step 1: Define Capital EmployedCapital employed refers to the cost of assets purchased with the hope…
Q: I need answer
A: Explanation: In the given case, we are required to calculate the amount of inventory shortage from…
Q: An investment has..accounting question
A:
Q: Solve this question question with given option general accounting
A: Step 1: Define Variable CostingVariable costing is a costing method that includes only the variable…
Q: Q-26 answer me
A: Explanation of Cost of Goods Available for Sale:Cost of goods available for sale refers to the total…
Q: On October 15, 2023, the board of directors of Martinez Materials Corporation approved a stock…
A: 1. Martinez's stock option measurement dateThe measurement date for stock options is the date at…
I want to correct answer general accounting
Step by step
Solved in 2 steps
- SagarThe 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 4,000The 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 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 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?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%
- he condensed balance sheet and income statement data for SymbiosisCorporation are presented below.SYMBIOSIS CORPORATIONBalance SheetsDecember 312014 2013 2012Cash $ 30,000 $ 24,000 $ 20,000Accounts receivable (net) 110,000 48,000 48,000Other current assets 80,000 78,000 62,000Investments 90,000 70,000 50,000Plant and equipment (net) 503,000 400,000 360,000$813,000 $620,000 $540,000 Current liabilities $ 98,000 $ 75,000 $ 70,000Long-term debt 130,000 75,000 65,000Common stock, $10 par 400,000 340,000 300,000Retained earnings 185,000 130,000 105,000$813,000 $620,000 $540,000SYMBIOSIS CORPORATIONIncome StatementsFor the Years Ended December 312014 2013Sales revenue $800,000 $750,000Less: Sales returns and allowances 40,000 50,000Net sales 760,000 700,000Cost of goods sold 420,000 406,000Gross profit 340,000 294,000Operating expenses (including income taxes) 230,000 209,000Net income $110,000 $ 85,000Additional information:1. The market price of Symbiosis common stock was $5.00, $3.50, and…Computing Asset Ratios The following information relates to Nicke Inc. Total Fixed Total Net $ millions Assets Assets Revenue Income Fiscal Year 2016 $10,560 $64,188 $97,128 $11,280 Fiscal Year 2015 28,002 200,852 91,803 9,819 Fiscal Year 2014 8,502 55,782 Nicke's fiscal years 2016, 2015, and 2014, end on May 31, 2016, 2015, and 2014, respectively. Required a. Compute the asset turnover ratio for fiscal years 2016 and 2015. b. Compute the return on assets ratio for fiscal years 2016 and 2015. c. Compute the fixed asset turnover ratio for fiscal years 2016 and 2015. Note: Do not round until your final answers. Round final answers to two decimal places. Ratio 2016 2015 a. Asset turnover 0.73 v 0.72 v b. Return on assets 8.53 x 7.65 x c. Fixed asset turnover 5.04 v 5.03 vINCOME 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 $ 27,576 17,578 1,411 $ 8,587 526 8,061 1,693 $ 6,368 BALANCE SHEET OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) Assets Current assets Cash and marketable securities 2022 2021 Liabilities and Shareholders' Equity Current liabilities $ 2,345 $ 2,345 Debt due for repayment Receivables Inventories Other current assets 1,384 131 1,098 1,344 126 Accounts payable Total current liabilities 625 Total current assets $ 4,958 $ 4,440 Fixed assets Property, plant, and equipment $ 24,686 2,813 2,992 2,662 Long-term debt $ 22,844 Other long-term liabilities Total liabilities 3,108 Total shareholders' equity $ 35,449 $ 33,054 Total liabilities and shareholders' equity 2022 2021 $3,412 $ 3,412 $ 394 3,152 $ 3,546 $ 13,642 3,066 $ 20,120 15,329 $ 35,449 $ 12,143 2,966 $ 18,655 14,399…
- 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…1. Comprehensive analysis: The balance sheets and the profit and loss accounts of Maharaja Synthetics Limited for the last two years are given as follows: Particulars (Rs.in Thousands) 2017 2018 Net sales Other Income Total Income 788, 1 10 15,370 803,480 672,040 18,020 690,060 473,290 118,190 Cost of goods sold Other operating expenses Depreciation Interest Profit before tax 520,460 131,970 22,260 20,140 32,860 24,380 95,930 54,060 Тахек s 28,780 67,150 16,788 16,218 Profit after tax 37,842 Dividend 9,460 Retained earnings 50,362 28,382 Balance Sheet as on 31st March Particulars Assets Non-current assets Cash and bank Trade receivables Inventories Total Current assets 2018 2017 223,200 24,202 175,960 21,200 91,160 68,900 130,210 111,300 201.400 377,360 245.572 Total 468,772 Liabilities Shareholders fund (Note 1) 232,682 182,320 106,000 Long term debt Short term debt Trade payables Total current liabilities 137,800 58,300 39,990 98,290 58,300 30.740 89.040 377,360 Total 468,772…The following is the excerpt of financial information of SVT Corporation on December 31, 2022: Account Amount Gross profit P5,000,000.00 Operating Expense 120,000.00 Other expense 300,000.00 Income Tax expense 50,000.00 Current Assets 450,000.00 Non-current assets 7,000,000.00 Total Liabilities 750,000.00 What percent is SVT Corporation's return on asset on December 31, 2022? 67.61% cannot be determined 64.71% D 60.8%
