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Digiron [165]
2 years ago
13

The Consumer Products Division of Goich Corporation had average operating assets of $800,000 and net operating income of $81,300

in May. The minimum required rate of return for performance evaluation purposes is 10%. What was the Consumer Products Division's residual income in May
Business
1 answer:
Alex73 [517]2 years ago
8 0

The Consumer Products Division's residual income in May is $1,300

<h3>What is residual income?</h3>

Residual income is the amount of money an individual or business has remaining after paying all expenses.

Given that:

Net operating income

= $81,300

Average operating assets

= $800,000

Minimum required return

= Average operating assets * Rate of return

=  $800,000 * 10%

= $80,000

Residual income

= Net operating income - Minimum required return

= $81,300 - $80,000

= $1,300

Hence, the Consumer Products Division's residual income in May is $1,300

Learn more about residual income here: brainly.com/question/22985922

#SPJ1

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Answer:

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3 0
3 years ago
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Answer:

option d is right

Explanation:

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3 0
3 years ago
Employees earn vacation pay at the rate of one day per month. During the month of July, 28 employees qualify for one vacation da
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Answer:

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Explanation:

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= $2884

7 0
3 years ago
Read 2 more answers
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4 0
3 years ago
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Answer:

Explanation:

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                    Splish Corporation

           Retained Earning Statement

  for the year ended December 31, 2020

                                                                          $

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Add: Net Income for the year 2020             <u>1,428,500</u>

Retained Earning ath December 31 2020   <u>2,050,500</u>

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