Calculate the return on assets (ROA) for Company HH using the following information: Net Income: $500,000 Average Total Assets: $4, 500,000 What is the ROA ( Return on Assets)? a) 8.89% b) 11.11% c) 9.52% d) 10.45%
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- Compute returns on assets for AT&T and Verizon and answer the question below. Be sure to show your work. Key figures($ millions). AT&T Verizon Sales 126,723 110,875 Net Income 4,184 10,198 Average Assets 269,868 225,233 AT&T Verizon Which company is more successful in returning net income from its assets invested?Please assist by providing the correct answer for 1.1,1.2 and 1.3 1.1 Which one of the following would reduce the cash balances of a business and not reduce the profit for the year? Select one: a. Interest paid b. Distribution costs c. Remuneration to directors d. Dividends paid 1.2 Goods costing R180 000 sent out to consignee to show a profit of 20% on Invoice Price. Invoice price of the goods will be______. Select one: a. R216 000 b. R225 000 c. R210 000 d. R281 250 1.3 Goods sent on consignment Invoice value R200 000, at cost + 331/3 %. 1/5th of the goods were lost in transit. Insurance claim received R10 000. The amount of abnormal loss to be transferred to General P/L is___. Select one: a. R30 000 b. R20 000 c. R35 000 d. R25 000Please see the incorrect answers I got. Can you helo me solve them correctly? The financial information below was taken from the annual financial statements of Cullumber Videos: 2014 2013 Current assets $99,800 $101,200 Current liabilities 36,800 51,200 Total liabilities 158,000 168,800 Total assets 441,000 476,000 Net sales 473,800 512,000 Net credit sales 466,000 500,000 Cost of goods sold 262,000 264,000 Inventory 46,000 44,800 Receivables (net) 26,800 24,800 Dividends 7,600 10,400 Capital expenditures 13,400 19,200 Net income 45,200 36,800 Net cash provided by operating activities 28,600 35,200 Calculate the following ratios for Cullumber Videos for 2014. (Round Free cash flow to 0 decimal place, e.g. 12. Other all answers to 2 decimal places, e.g. 12.21.) 1. Average collection period enter a number…
- I keep getting the answer 0.119% But it is informing me that this answer is wrong. Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $273,110 Interest expense 48,190 Average total assets 2,700,000 Determine the return on total assets. If required, round the answer to one decimal place.Why are the following items listed as a DR? Aren't they CR accounts? Exp;enses are CR accounts aren't they since they reduce assets? Income Statement Sales and Labor Revenue $1,592,430Cost of Goods $762,200Gross Profit $ 830,230 Operating Expenses:Salary Expense $337,425Depreciation Expense $44,500 Tax Expense $30,200Insurance Expense $22,000Office Expense $3,050Miscellaneous Expense $9,730Total Expenses $446,905 $383,325Swell Computers is a public company that manufactures desktop and laptop computers. The components of the financial statements are: (1) income before taxes = $500,000, (2) total assets = $2.2 billion, and (3) total revenues = $7 billion. Swell Computers' CPA firm might use the lowest percentage for total assets for determining overall materiality, but they also consider qualitative factors. a. Determine overall materiality and tolerable misstatement. Justify your decisions.
- Hello Tutor, I have completed the following question. Can you verify if it is correct? Thank you. [2] Using comparative analysis on Balance sheet ABC Inc., Balance Sheet Assets 2020 2019 Difference % changed Cash $ 70,000 $ 51,000 Account Receivable 55,000 30,000 Inventory 75,000 61,000 Prepaid Insurance 12,000 12,000 Short term investment 65,000 50,000 Note Receivable 23,000 38,000 Investments 55,000 85,000 Equipment 70,000 48,000 Building 145,000 145,000 Land 40,000 25,000 Total Assets $610,000 $545,000 Liabilities…Sara is trying to analyze Henley Company finances but realizes that she was missing the company's net profits after taxes for the current year. Find the company's net profits after tax.ROA = 2.5%Total asset turnover = 0.5COGS = $105,000Gross profit margin = 0.30Hello Tutor, I completed the below table but wanted to make sure I got it correct. Can you please verify? Thank you [1] using common size on income statement : ABC Inc., Income Statement 2020 % 2019 % Sales $126,200 $100,000 Sale returns and allowances 2,426 2,000 Net sales $123,774 $ 98,000 Cost of goods sold 58,800 50,000 Gross profit $ 64,974 $ 48,000 Selling expenses 17,310 15,000 Depreciation expenses 500 500 Salary and wages expenses 5,000 4,000 Rent Expenses 7,000 7,000 Utilities expenses 964 500 Total operating expenses $ 30,774 $ 27,000…
- need asap Given: FABM Company, a service firm rendering computerizedaccounting services has the following transactions for themonth of June 2018:June 1Owner invested his savings worth P10, 000, 000 intothe business.June 3He bought P1.5 M worth of equipmentJune 5He also invested furniture and fixtures with 250,000June 7Rendered services to clients worth 150, 000 andreceived cash payment immediatelyJune 10Rendered services to clients worth 250, 000 onaccountJune 12Purchased computer supplies amounting to 30,000and issued a promissory noteJune 14Rendered services to clients worth 650, 000 withterms 50% down, balance on accountJune 15Paid salaries of employees worth 45,000June 18Collected half of the amount due last June 10June 20Paid the total amount due for utilities amounting to55, 000June 22Cash receipts amounting to 75,000 from cash salesservicesJune 24Paid the whole amount due on the noteJune 26Paid Philhealth contribution of the employeesamounting to 5,000June 28Borrowed P150,000…hey I need help figuring out the numbers for these accounting homework assignments. Clint M. Invests $30,000. Into Merle company. The effect to Liabilities would be: ( Type your numeric number) Clint M. Invests $30,000 into Merle Company. The effect to Equity would be: (Type your numeric number) Merle company purchases s piece of equipment for $5,000 on account. The effect to Assets would be: (Type your numeric answer) Merle company purchases a piece of equipment for $5,000. The effect to Liabilities would be: (Type your numeric answer) Merle Company purchases a piece of equipment for $5,000 on account. The effect to Equit would be: (type your numeric answer)Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. The discussion involves the following 2025 informative related to P. Bride Company ($000 omitted). Administrative expense Officers' salaries $4,900 Depreciation of office furniture and equipment 3,960 Cost of goods sold 60,570 Rent revenue 17,230 Selling expense Delivery expense 2,690 Sales commissions 7,980 Sales commissions 7,980 Depreciation of sales equipment 6,480 Sales revenue 96,500 Income tax 9,070 Income expense 1,860 Prepare an income statement for the year 2025 using the multiple-step form. Common shares the outstanding for 2025 total 40,550,000 (000 omitted). (Round earnings per share to 2 decimal places, e.g. 148. Enter other revenue and gains before other expenses and losses).