1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sunny_sXe [5.5K]
3 years ago
14

Data from the financial statements of Crafty Crafts and Hobbies, Inc. are presented below (in millions): Crafty Crafts Hobbies,

Inc. Total liabilities, 2016 $31,957 $25,461 Total liabilities, 2015 36,104 30,046 Total assets, 2016 46,186 32,872 Total assets, 2015 46,514 35,208 Net sales, 2016 161,466 81,702 Net income, 2016 1,040 1,766 To the nearest hundredth of a percent, what is the 2016 return on assets ratio for Crafty Crafts
Business
1 answer:
earnstyle [38]3 years ago
5 0

Answer:

Crafty Crafts:

Return on Assets Ratio = Net Income/Average Assets x 100

= $1,040/46,350 x 100

= 2.2%

Explanation:

a) Data

                                       Crafty Crafts          Hobbies, Inc.

Total liabilities, 2016            $31,957               $25,461

Total liabilities, 2015              36,104                 30,046

Total assets, 2016                 46,186                 32,872

Total assets, 2015                 46,514                 35,208

Net sales, 2016                    161,466                  81,702

Net income, 2016                    1,040                    1,766

b) Average Assets:

Crafty Crafts = (2016 + 2015 assets)/2 = ($46,186 + 46,514)/2 = $46,350

c) The Return on Assets Ratio: This financial performance ratio shows how much of the earnings is generated from the assets of the company in a particular period.  It shows the efficiency of management to generate profit from the assets.  Usually, the average assets value is used to even the variations over the period.

You might be interested in
If households and firms increase the level of private savings because they become pessimistic about the future, then:
Margarita [4]
<span>If people are saving their money because of pessimistic feelings about the future then it will have an impact on current spending in the economy. When people are saving instead of investing money or purchasing large items such as homes or vehicles than the businesses in those markets are affected. For example, if there is no one buying new houses, then builders will see a decrease in work and the companies that provide building supplies will be affected. The people in the companies will also begin spending less as there is less work and less money to go around which also affects the economy on a large scale.</span>
8 0
3 years ago
A career path that involves horizontal movement within or across organizations is referred to as a(n) _____.
Kamila [148]

When a person moves horizontally within or across organizations, this is called a horizontal career growth.

<h3>What is a horizontal career growth?</h3>

This is when someone moves across job titles from one company to another or within the same company.

It is called a horizontal move because the person will still be at the same job level that they were at the job they moved from.

Find out more on career growth at brainly.com/question/14735178.

6 0
2 years ago
Please give a complete answer to all questions, citing the legal principle to support your answer.
Alex Ar [27]

1. In the criminal justice system, John can temporarily put Jack in custody pending the arrival of the police.  Jack was not detained for a period longer than five minutes and not for a civil wrong.

Thus, in this lawsuit for the tort of unlawful imprisonment, Jack will lose because he committed a crime.  He cannot apply a civil law to a criminal case.

2. Adriana is correct that her personal assets cannot be reached in this lawsuit brought by the shareholders of DEF, Inc. because SLA Accountants, LLP is a limited liability partnership and not just an ordinary partnership.

A limited liability partnership, like a limited liability company, offers members limited liability.  However, the shareholders of DEF, Inc. may decide to sue Adriana personally.

3. Andrew is wrong because the car handed over by Sam was not a completed inter-vivos gift. The transfer was not absolute but conditional upon Sam not returning from the Middle East.

As a conditional transfer of gift, the vesting of the ownership interest created by the transfer depends on the fulfillment of a condition.

Thus, since the transfer condition did not materialize, Andrew should return the car to Sam in good faith.

Learn more about inter vivos gifts and limited liability partnerships here brainly.com/question/14767795 and brainly.com/question/1166757

5 0
2 years ago
Of the four attributes of a national or country-specific environment that have an important impact on the global competitiveness
Lelu [443]

Answer:

d. The presence or absence in a nation of supplier industries and related industries that are internationally competitive

Explanation:

Related and supporting industries can be described as upstream and downstream industries which bring about innovation via exchanging ideas.

In an economy, upstream industries are reliable supplier of inputs to a company, while downstream industries assist a company in marketing and distributing its products.

The absence or presence of the related and supporting industries usually have effect on the success of a company in a country.

8 0
3 years ago
8. Hayward Industries manufactures dining chairs and tables. The following information is available: Dining ChairsTablesTotal Co
Contact [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Dining Chairs - Tables - Total cost

Machine setups: 200 - 600 - $48,000

Inspections: 250 - 470 - $72,000

Labor hours: 2,600 - 2,400

A) A single overhead rate:

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= (48,000 + 72,000) / (2,600 + 2,400)= $24 per direct labor hour

Now, we can allocate overhead based on direct labor hours:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Dining Chairs:

Allocated MOH= 24*2,600= $62,400

Tables:

Allocated MOH= 24*2,400= $57,600

B) We have to calculate an overhead rate for each activity cost pool.

<u>Overhead rate:</u>

Machine setups:

Estimated manufacturing overhead rate= 48,000/800= $60 per machine hour set up

Inspections:

Estimated manufacturing overhead rate= 72,000/ 720= $100 per inspection

Based on the overhead rate, we can allocate overhead to each product.

Dining chairs:

Allocated MOH= 60* 200 + 100*250= $37,000

Tables:

Allocated MOH= 60*600 + 100*470= $83,000

C) We can conclude that activity cost allocation is more accurate than using a single rate plant-wide. We can allocate costs more efficiently.

7 0
3 years ago
Other questions:
  • NEED HELP ASAP
    14·1 answer
  • I really don't want to cheat, I want a full explanation of how you got the answer so that I can understand. The course material
    10·1 answer
  • Which of these are functions of an entrepreneur?
    14·2 answers
  • in your own opinion what do think were angies challenges after she made the dicision about of becoming an entrepreneur
    9·2 answers
  • The Assembly Department started the month with 78,000 units in its beginning Work in Process Inventory. An additional 254,000 un
    5·1 answer
  • In the bond market, the bond demanders are the ________ and the bond suppliers are the ________.
    9·1 answer
  • Assume that Kubin Company produced 30,750 units and expects to sell 30,390 of them. If a new customer unexpectedly emerges and e
    15·2 answers
  • An example of a type II error in quality control would be:counting a student s True/False response as incorrect when it is actua
    7·2 answers
  • Explain Distribution and also explain the channel of Distribution​
    7·1 answer
  • . You use the utility company’s budget plan for paying your home heating bills. You pay $75 per month for 9 months. Your actual
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!