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1 year ago

Cage company had net income of $365 million and average total assets of $2,040 million. its return on assets (roa) is?

1 answer:

3 0

Cage company had a net income of $365 million and average total assets of $2,040 million. its return on assets (ROA) is 17.6%.

Net salary is the total net salary after deducting all taxes and other employee benefits. This is the amount deposited in your bank account that you can use for your budget and living expenses. Simply put, Gross Salary - Deductions = Net Salary.

Net income is the income of an individual or business after deducting expenses, allowances, and taxes. In commerce, net profit is what is left in the business after all expenses such as salaries and wages, cost of goods and raw materials, and taxes.

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A recently issued FASB standard requires that companies recognize revenue when goods or services are_____to customers for the am

tensa zangetsu [6.8K]

Answer:

Transferred.

Explanation:

FASB is an acronym for Financial Accounting Standards Board. The financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining standard financial accounting and reporting for general guidance of individuals such as investors, issuers and auditors. It was founded in 1972 but began operations fully on the 1st of July, 1973 by replacing the Accounting Principles Board (APB) and American Institute of Certified Public Accountants (AICPA).

A recently issued FASB standard known as the core revenue recognition principle, requires that companies recognize revenue when goods or services are transferred to customers for the amount the company expects to be entitled to receive in exchange for those goods or services.

6 0

3 years ago

Calculate the amount of depreciation to report during the year ended December 31, 2013, for equipment that was purchased at a co

alukav5142 [94]

Answer:

1) Straightline $ 2000

2) Double-Declining-Balance $ 4000

3) Units of Production $ 2000

Explanation:

Cost of equipment $43,000

Residual value of equipment $3,000

Useful life of equipment 5 years

Formula:

1) Straight Line Method Depreciation = Cost - Salvage Value/ Useful Life

Straight Line Method Depreciation = $43,000 -$3,000/5=$ 8000

The amount of depreciation using Straight Line Method Depreciation for the year ended December 31, 2013, is

($ 8000/12)*3= $ 2000

The straight Line depreciation expense for 3 months is $ 2000

2) Straight Line Rate= 100%

Useful Life= 100%/5 = 20%

Double Declining Method = 2 * Straight Line Rate

Double Declining Method = 2 * Straight Line Rate= 2*20%= 40%

Year Book Value Dep Dep Accu. Book

Rate Expense Dep. Value

1 40,000 40 16000 16000 24000

Depreciation Expense for the whole year would be $ 16000.

Depreciation expense using double declining method for 3 months would be = ($ 16000/12 )*3= $ 4000

3) Depreciation per unit= (Cost -Salvage value) / Total units of production

Depreciation per unit= $43,000 -$3,000/20,000=40,000/20,000=2

Depreciation Expense = Depreciation per unit * No of Units Produced

Depreciation Expense = 2*1000= $ 2000

Depreciation Expense using Units of Production method would be $ 2000 for 3 months. i.e on 31st Oct 2013

3 0

3 years ago

A goal taking which of these lengths of time to achieve is most likely to be a long-term goal? A. 10 minutes B. 10 hours C. 10 y

Dmitry_Shevchenko [17]

Answer: C. 10 years

Explanation: A long-term goal will take many years. An example is saving up enough money to buy a house. This will take many years to achieve the goal.

6 0

3 years ago

Flounder Corp. uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cos

iragen [17]

Answer:

Flounder Corp.

Weighted Average FIFO LIFO

Ending Inventory $1,414 $1,580 $1,280

Cost of goods sold $2,796 $2,630 $2,930

Explanation:

a) Data and Calculations:

Date Explanation Units Unit Cost Total Cost

June 1 Inventory 100 $5 $ 500

June 12 Purchases 385 6 2,310

June 23 Purchases 200 7 1,400

Total units 685 $ 4,210

June 30 Inventory 230

June 30 Units Sold 455 (685 - 230)

Weighted Average Cost = Total costs/Total units bought

= $4,210/685 = $6.146

Weighted Average:

Ending Inventory = $1,414 ($6.146 * 230)

Cost of goods sold = $2,796 ($6.146 * 455)

FIFO:

Ending Inventory = (30 * $6) + (200 * $7) = $1,580

Cost of goods sold = (100 * $5) + (355 * $6) = $2,630

LIFO:

Ending Inventory = (100 * $5) + (130 * $6) = $1,280

Cost of goods sold = (200 * $7) + (255 * $6) = $2,930

The weighted average method is based on an average cost for estimating the cost of ending inventory and cost of goods sold. The FIFO method assumes that goods bought initially are the first to be sold while the LIFO method assumes that goods bought last are the first to be sold.

6 0

3 years ago

The Dante Manufacturing Company is considering a new investment. Financial projections for the investment are tabulated below. T

evablogger [386]

Answer:

a) incremental net income

net income year 1 = ($16,500 - $3,500 - $8,000) x 0.65 = $3,250

net income year 2 = ($17,000 - $3,600 - $8,000) x 0.65 = $3,510

net income year 3 = ($17,500 - $3,700 - $8,000) x 0.65 = $3,770

net income year 4 = ($14,500 - $2,900 - $8,000) x 0.65 =$1,340

b) incremental net cash flow

cash flow year 1 = [($16,500 - $3,500 - $8,000) x 0.65] + $8,000 - $430 = $10,820

cash flow year 2 = [($17,000 - $3,600 - $8,000) x 0.65] + $8,000 - $480 = $11,030

cash flow year 3 = [($17,500 - $3,700 - $8,000) x 0.65] + $8,000 - $380 = $11,390

cash flow year 4 = [($14,500 - $2,900 - $8,000) x 0.65] + $8,000 + $1,670 = $12,010

c) project's NPV

NPV = -$32,380 + $10,820/1.13 + $11,030/1.13² + $11,390/1.13³ + $12,010/1.13⁴ = $1,093.13

4 0

3 years ago