Calculate the return on assets (ROA) for AliceAppliance Service for the year ending December 31, 2016 Alice Appliance Service had net income for the year of $23,000. In addition, the balance sheet reports the following balances
Q: Given the income statement below, Mega Trade Inc. wants to find the resulting net income for the…
A: Income statement: It implies to one of the financial statement's of the company that shows the…
Q: Please describe what is meant by “Times Interest Earned.” How is it calculated? Suppose you…
A: Ratios are an important tool for analysis of the financial statements to assess a firm's liquidity,…
Q: The accountant of Latifa Shoe Co. has piled the following information from the company’s records as…
A: Multi-Step Income statement segregates operating and non operating expenses and revenues. This…
Q: Candace Communications reported the following figures from its adjusted trial balance for its first…
A: The income statement of the business shows all income and expenses of the business at the end of an…
Q: The Unearned Revenue account of Melrose Incorporated began 2018 with a normal balance of $5,500 and…
A: Unearned Revenue: Unearned Revenue means money received from the customer in advance for the service…
Q: Prepare an income statement using the following information for DL Enterprises for the month of July…
A: Definition: Income statement: The financial statement which reports revenues and expenses from…
Q: The income statement for the year 2020 of Tamarisk Co.contains the following information: Revenues $…
A: Revenues are given at $70200 for the period.
Q: The income statement for the year 2020 of Blue Co. contains the following information: Revenues…
A: In income statement if their is a net debit balance then it represents that the expenses are greater…
Q: Computing times-interest-earned ratio The following financial information was obtained from the year…
A: Requirement 1: Compute the times interest earned ratio for both companies. Cash:
Q: Consider Southeast Home Care, a for-profit business. In 2015, its net income was $1,500,000 and it…
A: a) Statement of changes in equity. Statement of change in equity Beginning-of-year equity…
Q: At the beginning of the year, Gilles Company had total assets of $800,000 and total liabilities of…
A: Solution. Total assets = $800,000 Total liabilities = $300,000 Owner's equity = Total assets -…
Q: Using the accounting equation During 2018, Flowing Rivers Spa reported revenue of $30,000. Total…
A: Compute net income for the year 2018:
Q: Be- the-One is a motivational consulting business. At the end of its accounting period, December 31,…
A: Part-a:Stockholder's equity for 2017 is computed with the help of following equation:Total assets =…
Q: Answer probably please .... Calculate the following ratios for Avartar Sdn. Bhd. for years ended 31…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: The following account balances were taken from the 2016 adjusted trial balance of the Bowler…
A: Income statement: This is the financial statement of a company which shows all the revenues earned…
Q: Please see the picture below. I need help making a retained earnings statement, a balance sheet, a…
A: Profit margin = Net Income / Sale x 100 Gross margin = Gross Profit / Sales x100
Q: You are given the following information about Sheridan Plumbing Company. Revenues in 2017 totaled $…
A: The income statement description seems to be a financial statement that typically illustrates a…
Q: Presented below is selected information related to F. Co. on December 31, 2010. F. reports financial…
A: As per basic accounting equation, Assets = Liabilities + Owners Equity
Q: Directions: Determine values for the missing items. Show all amounts as positive numbers even though…
A: Income statement is prepared to calculate the net income earned during the period. Income statement…
Q: t the beginning of the year, Pala Calling Station had liabilities of P200.000 and owner’s equity of…
A: The total amount of capital or owner's equity appears on both the balance sheet and statement of…
Q: On July 31, 2020, the account balances of ABC Co. for the month are listed below. The capital of the…
A: given that, net income earned for the month = OMR45625. Total expenses + net income = fee earned.…
Q: Lansing Company’s 2015 income statement and selected balance sheet data (for current assets and…
A: Cash from operating refers to cash generated on the regular ongoing business activities for a given…
Q: Assume Global Cleaning Service had a net income of $570 for the year. Global Cleaning Service’s…
A: Compute return on assets ratio:Average total assets = Beginning balance of total assets + Ending…
Q: Using the accounting equation Thompson Handyman Services has total assets for the year of $18,400…
A: 1. Equity = Total assets - Total liabilities = $18,400 - $9,050 =…
Q: Comparison of the balance sheet of OUTREACH at the end of 2017 with its balance sheet at the end of…
A: Formula: Accounting equation: Assets = Liabilities + Owners equity
Q: Using the accounting equation Thompson Handyman Services has total assets for the year of $18,400…
A: Requirement 1:Calculate the equity using accounting equation.
Q: Directions. Prepare a single-step Income Statement For the year ended Dec. 31, 2019, at space…
A:
Q: At the start of its most recent financial year the owner's equity in a business was £25,960. At the…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: As of December 31, 2009, Sievers Company has assets of $35,000 and owner's equity of $20,000. What…
A: Accounting equation says that total assets should always be equals to total liabilities and…
Q: The accountant of Latifa Shoe Co. has compiled the following information from the company's records…
A: Income statement: When all the costs and expenses are subtracted one by one from the sale, then if…
Q: The owners' equity at the beginning of 2018 was how much?
A: The accounting equation describes the basic principle of accounting as follows: Assets = Liabilities…
Q: 1. Conduct a horizontal analysis by calculating the year-over-year changes in each line item,…
A: Solution: Introduction: Horizontal Analysis which is also known as the trend analysis. It provides a…
Q: JBL reports total revenue of $47,561, and net receivables of $19,595 these numbers are all from…
A: ART 2018 = 47,561/19,595 = 2.43 ART 2019 = 47,561/21,856 = 2.18 There is a decrease in ART
Q: The adjusted trial balance of Pacific Scientific Corporation on December 31, 2016, the end of the…
A: (a) Operating income.
Q: The following balances were extracted from the books of AL Masa Cleaning Services at 31st December,…
A: Formula: Ending Capital = Beginning capital + Investment during the year + Profit during the year -…
Q: The income statement for the year 2014 of Fugazi Co. contains the following information:…
A: closing entries are used to transfer the balance from a temporary account to a permanent account. We…
Q: The balance sheet of Hidden Valley Farms reports total assets of $900,000 and $1,010,000 at the…
A: The net income is calculated as return on assets multiplied by average assets
Q: Assume Global Cleaning Service had net income of $570 for the year. Global Cleaning Service’s…
A: Return on Assets (ROA): This financial ratio evaluates a company’s efficiency in operating the…
Q: Prepare a single-step income statement for AJ’s Massage and Spa for the year ended December 31,2020…
A: The income statement is prepared to find net income or losses incurred during the period.
Q: The financial statements at the end of Wolverine Realty's first month of operations are as follows…
A: Compute fees earned and supplies expense earned from income statement as shown below:
Q: total expenses that could be included in the income statement
A: Expenses are the costs incurred in respect of business operations.
Q: Please see the picture below. I need help making a retained earnings statement and a comprehensive…
A: An income statement is one of the financial statements that shows the financial performance of the…
Q: The following information relates to Marin Inc. for the year 2017. Retained earnings, January 1,…
A:
Calculate the return on assets (ROA) for AliceAppliance Service for the year ending December 31, 2016
Alice Appliance Service had net income for the year of $23,000. In addition, the balance sheet reports the following balances ;
Trending now
This is a popular solution!
Learn your way
Includes step-by-step video
Step by step
Solved in 2 steps
- Profitability ratios The following selected data were taken from the financial statements of Robinson Inc. for December 31, 2016, 2015 and 2014: December31 2016 2015 2014 Total assets......................................... 4,800,000 4,400,000 4,000,000 Notes payable (8% interest)........................... 2,250,000 2,250,000 2,250,000 Common stock...................................... 250,000 250,000 250,000 Preferred 4% stock, 100 par (no change during year)........................... 500,000 500,000 500,000 Retained earnings................................... 1,574,000 1,222,000 750,000 The 2016 net income was 372,000, and the 2015 net income was 492,000. No dividends on common stock were declared between 2014 and 2016. a. Determine the rate earned on total assets, the rate earned on stockholders equity, and the rate earned on common Stockholders equity for the years 2015 and 2016. Round to one decimal place. b. What conclusions can be drawn from these data as to the companys profitability?Prince Corporations accounts provided the following information at December 31, 2019: What should be the current balance of retained earnings? a. 520,000 b. 580,000 c. 610,000 d. 670,000FINANCIAL STATEMENTS, CASH FLOW, AND TAXES Laiho Industriess 2017 and 2018 balance sheets (in thousands of dollars) are shown. 2018 2017 Cash 102,850 89,725 Accounts receivable 103,365 85,527 Inventories 38,444 34,982 Total current assets 244,659 210,234 Net fixed assets 67,165 42,436 Total assets 311,824 252,670 Accounts payable 30,761 23,109 Accruals 30,477 22,656 Notes payable 16,717 14,217 Total current liabilities 77,955 59,982 Long-term debt 76,264 63,914 Total liabilities 154,219 123,896 Common stock 100,000 90,000 Retained earnings 57,605 38,774 Total common equity 157,605 128,774 Total liabilities and equity 311,824 252,670 a. Sales for 2018 were 455,150,000, and EBITDA was 15% of sales Furthermore, depreciation and amortization were 11%. of net fixed assets, interest was 8,575,000, the corporate tax rate was 40%, and Laiho pays 40% of its net income as dividends Given this information. construct the firms 2018 income statement. b. Construct the statement of stockholders equity for the year ending December 31, 2018, and the 2018 statement of cash flows. c. Calculate 2017 and 2018 net operating working capital (NOWC) and 2018 free cash flow (FCF). Assume the firm has no excess cash. d. If Laiho increased its dividend payout ratio, what effect would this have on corporate taxes paid What effect would this have on taxis, paid by the companys shareholders? e. Assume that the firms after-tax cost of capital is 10 5%. What is the firms 2018 EVA? f. Assume that the firms stock price is S22 per share and that at year-end 2018 the firm has 10 million shares outstanding. What is the firms MVA at year-end 2018?
- Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of goods sold 660.0 Gross profit 135.0 Selling expenses 73.5 EBITDA 61.5 Depreciation expenses 12.0 Earnings before interest and taxes (EBIT) 49.5 Interest expenses 4.5 Earnings before taxes (EBT) 45.0 Taxes (40%) 18.0 Net income 27.0 a. Calculate the ratios you think would be useful in this analysis. b. Construct a DuPont equation, and compare the companys ratios to the industry average ratios. c. Do the balance-sheet accounts or the income statement figures seem to be primarily responsible for the low profits? d. Which specific accounts seem to be most out of line relative to other firms in the industry? e. If the firm had a pronounced seasonal sales pattern or if it grew rapidly during the year, how might that affect the validity of your ratio analysis? How might you correct for such potential problems?Q26 You are required to prepare the balance sheet as on 31-12-2017 by using net change method from the following details. Liabilities OMR Assets OMR Share capital 200,000 Furniture & fixtures 200,000 Bank loan 50,000 Inventories 60,000 Creditors 70,000 Debtors 36,000 Cash 24,000 320,000 320,000 Balances of Debtors and creditors remain unchanged throughout the year. General price indices are on 1-1-12017----200; Average for the year ------240; on 31-12-2017----300. a. Retained earnings of OMR 15,000 by CPP method b. No Balancing figure neither in HCA nor CPP method c. No retained earnings d. None of them is correctHow do I determine the NNO for 2014? Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2014 Operating Assets 1,447,869 1,513,139 Operating liabilities 1,094,173 1,158,007 Net operating assets (NOA) 353,696 355,132 $ 397,299.00 NNO $ 490,548 $ 473,323 Equity $ 844,244 $ 828,455 $ 726,328.00 NOA= NNO + Equity $ 1,334,792 $ 1,301,778
- xtract of Balance sheet items as at 31 December 2020 OR Land 35000 Account receivables 3500 Capital 11500 Closing Stock 15000 Loan 3000 Bank overdraft 3200 Cash 2500 Mortagage loan 7500 Machinery 1650 Trade payables 5700 Accumulated Depreciation 1000 Short term Investments 2200 Trade marks 6000 Drawings 1000 Retained Earnings 7150 Prepaid Expenses 2300 Calculate Owners Equity Select one: a. None Of These b. 8900 OMR c. 58250 OMR d. 17650 OMRQ2. Following are balances from the books of East & West Insurance on 31/12/2017 (in JDs); Reinsurance receivable 9 000, Gross written premiums 25 000, Ceded premiums 7000 Reinsurance share in paying claims 2000, Deferred income tax 1800, Unearned premium reserve, net 4000, Accrued expenses 1250, Income tax provision 3500, Reinsurance share of written premiums 10 000, Net change in unearned premiums reserve 1000 Recoveries 1000, Statutory reserve 7000, Outstanding claims reserve, net 2500, Checks under collection 5000, Paid claims 12000, Allocated employees' expenses 3000, Policies acquisition costs 250, Paid in capital ???, Reinsurance payable 5500, Accrued expenses 2500, Property and equipment, net 30 000. Cash in hands and at banks 12000 Accounts Receivable 7000, Bank deposits, 50 000, Financial assets at fair value through profit or loss 12000, Allowance for doubtful debts 1000, Commissions revenue 1 200, Interest revenue 500, Allocated administrative & general expenses…Reference is made to the 2022 Balance Sheet of Tram-Ropes limited.Tram-Ropes Limited Balance Sheet 2022Cash 1,000,000.00 Accounts Payable 8,000,000.00Acc. Receivable 12,000,000.00 Notes Payable 8,500,000.00Marketable securities 3,000,000.00 Long-term Debt 20,000,000.00Inventories 7,500,000.00 Common stock 7,500,000.00Fixed Assets 26,500,000.00 Preferred Stock 6,000,000.00Total Assets 50,000,000.00 Total Liabilities and Equity 50,000,000.00Additional Information:i. The Long-Term debt consists of 8% annual coupon bonds, with15 years to maturity and are currently selling for 95% ofpar.ii. The company’s common shares which have a book value of $20per share are currently selling at $25 per share.PREPARED BY THE CI, MGMT2023 4iii. Preferred shares have a book value of $100 per share. Theseshares are currently selling at $120 per share and paysdividends of 6% per annum on book value.iv. The dividend growth rate is expected to be 3%, and dividendfor 2023 is projected to be $5.00 per…
- 1. The balance sheets at the end of each of the first two years of operations indicate the following:20172016Total current assets$600,000$560,000Total investments60,00040,000Total property, plant, and equipment900,000700,000Total current liabilities125,00080,000Total long-term liabilities350,000250,000Preferred 9% stock, $100 par100,000100,000Common stock, $10 par600,000600,000Paid-in capital in excess of par--common stock60,00060,000Retained earnings325,000210,000Based on the above information, if net income is $130,000 and interest expense is $40,000 for 2017, and the market price is $40, what is the price-earnings ratio on common stock (round to one decimal place)?a. 14.9b. 19.8c. 17.3d. 18.4Multiple Company had the following liabilities on December 31, 2021:Accounts payable after deducting debit P 500,000balances in supplier’s accounts of P100,000 Accrued liabilities 150,000Note payable – due March 31, 2022 1,000,000Note payable – due May 1, 2022 800,000Bonds payable – due December 31, 2023 2,000,000On March 1, 2022 before the 2021 financial statements were issued, the note payable of P1,000,000 was replaced by an 18-month note for the same amount. The entity is considering similar action on the P800,000 note due on May 1, 2022. The financial statements were issued on March 31, 2022. 1. Compute the total non-current liabilities as of December 31, 2021 2. Compute the total current liabilities as of December 31, 2021A selection of account balance from blue corp. are listed below. All balances are as of December 31,2017, except where noted:Accounts payable $7500Accounts receivable, 1/1/17 $5,250Accumulated depreciation $21500 building 65000Cash 12200Common stock 50000Delivery truck 9500Depreciation expenses 10750Dividends 3650Marketable equity securities 2400Account receivable 12/31/17 7125Inventory, 1/1/17 3050Supplies 5200Salaris 10400Salaris expenses 10400Net sales 61365Rent expenses 7850Retained earnings 1/1/17 25010Equipment 15700Prepaid expenses 2000Cost of goods sold 16350Notes payable (due 2019) 4400Inventory 12/31/17 4750 1) Determine the gross profit ratio?2) Determine the account receivable turnover?3) Determine the inventory turnover?4)Determine the debt to equity ratio as of December 31,2017?