Chapter 15, Problem 32P

Suppose a stock had an initial price of $66 per share, paid a dividend of $1.8 per share during the year, and had an ending share price of $80. Compute the percentage of total return. a. 23.94% b. 19.75% c. 29.70% d. 25.14%

Accounting answer with solution

Accounting answer with correct solution

Valley Tech Inc. reported the following balances at the end of the year: Credit Sales: $250,000 Accounts Receivable: $45,000 Allowance for Uncollectible Accounts before adjustment: $2,000 debit Valley Tech estimates that 5% of the credit sales will be uncollectible. What is the net realizable value of accounts receivable after the year-end adjustment?

XYZ Co. has an average collection period of 45 days. Total credit sales for the year were $3,200,000. What is the balance in accounts receivable at year-end? (Use 360 days in a year. Round to the nearest dollar.)

Provide Answer

Compute the percentage of total return?

Compute the net income

Please explain the solution to this general accounting problem using the correct accounting principles.