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zvonat [6]
3 years ago
5

Bountiful Water Services had net income for the month of October of $ 40 comma 400. Assets as of the beginning and end of the mo

nth totaled $ 346 comma 000​, and $ 462 comma 000​, respectively. Calculate Bountiful Water​ Services' ROA for the month of October
Business
1 answer:
ipn [44]3 years ago
4 0

Answer:

The ROA for the month of October was 10%

Explanation:

Return over Assets: It represent the yield of the company base on the resources it has during the period.

Return Over Assets =   Net income / average Assets

<em>were average assets = ( beginning + ending ) / 2</em>

Net income  $40,400

Beginning Assets $346,000

Ending Assets       $462,000

Average Assets     $404,000

ROA =  40,400/404,000  =  10%

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The balance in Accounts Receivable at the beginning of the year amounted to $16,000. During the year, $64,000 of credit sales we
poizon [28]

Answer: $70,000

Explanation:

Accounts Receivable at the beginning of the year amounted to $16,000

During the year, $64,000 of credit sales were made to customers.

ending balance in Accounts Receivable amounted to $10,000, and uncollectible accounts expense amounted to $4,000,

The Amount to appear in the operating activities section of the cash flow statement is

$16,000+$64,000-$10,000= $70,000

8 0
3 years ago
Read 2 more answers
You are analyzing an investment property. You forecast the effective gross income to be $396,000. The operating expenses for thi
3241004551 [841]

Answer:

<em> $220,000</em>

Explanation:

Given:

Effective Gross Income(EGF) : $396,000

Operating Expenses(OE) : $176,000 ( Including $4,400 reserve for replacements)

To Find Net Operating Income(NOI):

NOI = EGF - OE

NOI = $396,000 - $176,000

NOI = $220,000

So the Net Operating Income is $220,000

7 0
3 years ago
A company had the following purchases during its first year of operations: Purchases January: 26 units at $113 February: 36 unit
monitta

Answer:

$6490

Explanation:

The computation of the ending inventory is shown below:

= (January ending inventory in units × price) + (February ending inventory in units × price) + (May ending inventory in units × price) + (September ending inventory in units × price) + (November ending inventory in units × price)

= (8 units × $113) + (9 units × $124) + (13 units × $136) + (7 units × $144) + (11 units × $154)

= $904 + $1,116 + $1,768 + $1,008 + $1,694

= $6,490

3 0
3 years ago
Warner Company’s year-end unadjusted trial balance shows accounts receivable of $112,000, allowance for doubtful accounts of $73
Sonbull [250]

Answer:

Debit bad debt expenses with $1,680, and credit Accounts receivable also with $1,680.

Explanation:

Uncollectibles = Accounts receivable × 1.50% = $112,000 × 1.50% = $1,680

The December 31 year-end adjusting entry for uncollectibles will be as follows:

<u>Details                                                 Dr ($)                  Cr ($)                </u>

Bad debt expenses                            1,680

Accounts receivable                                                      1,680

<u><em>Being the amount Accounts receivable estimated to be uncollectible</em></u>

<u><em /></u>

7 0
3 years ago
Senior partners have the highest hourly wage, and paralegals have the lowest hourly wage. If the company wants workers who are p
Simora [160]

Answer:

The senior partners would obviously have more work than the paralegals. This can make work tedious for senior partners and therefore slower to carry out projects.

Explanation:

Slow rate in carrying out projects because the senior partners might need to add to their job the works of the paralegals. This will slow down work

4 0
3 years ago
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