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Katarina [22]
3 years ago
15

The balance sheet of ABC reports total assets of $400,000 and $450,000 at the beginning and end of the year, respectively. The r

eturn on assets for the year is 10%. What is ABC's net income for the year?
Business
1 answer:
zimovet [89]3 years ago
7 0

Answer:

ABC net income for the year is $42,500

Explanation:

Beginning total assets = $400,000

Ending total assets = $450,000

Average total assets = Beginning total assets + Ending total assets ÷ 2

= ($400,000 + $450,000) ÷ 2

= $425,000

Return on assets = 10%

Therefore,

Net income ÷ Average total assets = Return on assets

Net income = Return on assets × Average total assets

Net income = 0.1 × Average total assets

= $425,000 × 0.1

= $42,500

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Answer:

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Explanation:

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Competencies are the sum total of skills, knowledge and capabilities.  These are developed over time with application of skills and knowledge.

In the given case, Evergreen reaps benefits with respect to parking area for unwanted aircraft owing to space it possesses and the climate of the location which protects the aircraft from dust and rusting.

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The Taffy Trust is a simple trust. Sean is its sole beneficiary. In the current year, the trust earns $12,000 in taxable interes
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<u>Solution and Explanation:</u>

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