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Use the beginning and ending balance sheets and an income statements you calculate the following for the year 2012: Net cash farm income $164,333 Gross cash farm income Beginning asset value $1,233,550 Ending asset value Beginning equity $846,225 Ending equity Interest expense $30,000 Inventory change $0 Capital asset change $15,000 unpaid labor & $15,000 unpaid management The rate of return on assets for 2012 was? A. 13% B. 10% C. 18% D. 6% $744,333 $1,298,000 $868,000 $-87,280

Use the beginning and ending balance sheets and an income statements you calculate the following for the year 2012: Net cash farm income $164,333 Gross cash farm income Beginning asset value $1,233,550 Ending asset value Beginning equity $846,225 Ending equity Interest expense $30,000 Inventory change $0 Capital asset change $15,000 unpaid labor & $15,000 unpaid management The rate of return on assets for 2012 was? A. 13% B. 10% C. 18% D. 6% $744,333 $1,298,000 $868,000 $-87,280

Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
ChapterMB: Model-building Problems
Section: Chapter Questions
Problem 14M
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Use the beginning and ending balance sheets and an income statements you calculate the following for the year 2012: Net cash farm income $164,333 Gross cash farm income Beginning asset value $1,233,550 Ending asset value Beginning equity $846,225 Ending equity Interest expense $30,000 Inventory change $0 Capital asset change $15,000 unpaid labor & $15,000 unpaid management The rate of return on assets for 2012 was? A. 13% B. 10% C. 18% D. 6% $744,333 $1,298,000 $868,000 $-87,280
Transcribed Image Text:Use the beginning and ending balance sheets and an income statements you calculate the following for the year 2012: Net cash farm income $164,333 Gross cash farm income Beginning asset value $1,233,550 Ending asset value Beginning equity $846,225 Ending equity Interest expense $30,000 Inventory change $0 Capital asset change $15,000 unpaid labor & $15,000 unpaid management The rate of return on assets for 2012 was? A. 13% B. 10% C. 18% D. 6% $744,333 $1,298,000 $868,000 $-87,280
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