Homework Help is Here – Start Your Trial Now!
Business
Accounting
Use the beginning and ending balance sheets and an income statements you calculate the following for the year 2012: Net cash farm income Beginning asset value $164,333 Gross cash farm income $1,233,550 Ending asset value Beginning equity $846,225 Ending equity Interest expense $30,000 $744,333 $1,298,000 $868,000 $-87,280 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%

Use the beginning and ending balance sheets and an income statements you calculate the following for the year 2012: Net cash farm income Beginning asset value $164,333 Gross cash farm income $1,233,550 Ending asset value Beginning equity $846,225 Ending equity Interest expense $30,000 $744,333 $1,298,000 $868,000 $-87,280 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%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

I need answer of this question accounting

Use the beginning and ending balance sheets and an income statements you calculate the following for the year 2012: Net cash farm income Beginning asset value $164,333 Gross cash farm income $1,233,550 Ending asset value Beginning equity $846,225 Ending equity Interest expense $30,000 $744,333 $1,298,000 $868,000 $-87,280 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%
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 Beginning asset value $164,333 Gross cash farm income $1,233,550 Ending asset value Beginning equity $846,225 Ending equity Interest expense $30,000 $744,333 $1,298,000 $868,000 $-87,280 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%
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS