The owner's equity at the beginning of the period for Vivo Enterprises was $52,000. At the end of the period, assets totaled $110,000, and liabilities were $28,000. If the owner made an additional investment of $12,000 and withdrew $9,000 during the period, what is the net income or (net loss) for the period?

The owner's equity at the beginning of the period for Vivo Enterprises was $52,000. At the end of the period, assets totaled $110,000, and liabilities were $28,000. If the owner made an additional investment of $12,000 and withdrew $9,000 during the period, what is the net income or (net loss) for the period?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

See similar textbooks

Similar questions

Kennedy Holdings had a beginning capital of $15,000. The owner made additional investments during the year of $50,000 and withdrew $20,000. At the end of the year, the ending capital balance was $85,000. What was the net income or net loss for the period?
In the recent year Hill Corporation had net income of $140,000, interest expense of $40,000, and tax expense of $20,000. What was Hill Corporation's times interest earned ratio for the year? Select one: О а. 4.0 O a. ОБ. 3.5 Ob. 3.0 d. 5.0
What is Company A's net income on these accounting question?
Syed's gross profit is ? General accounting
Cain Corp. reported accrued investment interest receivable of 38,000 and 46,500 at January 1 and December 31, year 1, respectively. During year 1, cash collections from the investments included the following: Capital gains distributions= 145,000; Interest= 152,000. What amount should Cain Corp report as interest revenue from investments for year 1? *
What is optima's net income for the year on these accounting question?
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.
You are given the following information for Company A.: sales = $73,900; costs = $54,100; addition to retained earnings = $5,700; dividends paid = $2,780; interest expense = $2,490; tax rate = 21 percent. What is Depreciation Expense for company Calculate the depreciation expense for the company.
Henryk Inc. just reported an Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) of $55,000, and they incurred $11,500 of Depreciation and Amortization expense. The company had an interest expense of $3,100 and its tax rate was 21%. How much Net Income did the company earn during the year?
Fill in the blanks: Total revenues earned by the company during the year is P900,000 while the expenses incurred were: Salaries Expense, P75,000; Utilities Expense, P90,000; ad Rent Expense, P120,000. During the year, the owner made an additional investment of P100,000 but made a cash withdrawal of P220,000. The NET INCREASE in the owner's equity account during the year is
ACME Corp’s balance sheet reported that it had $650,000 in liabilities and $275,000 in equity. On the income statement the company had revenues of $867,030 and expenses (excluding depreciation) of $356,240. Depreciation was $103,456 and interest expense of $52,423. Assuming a 40% tax rate, what was the company's return on assets?
What is the return on assets??