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2 years ago

The FASB and IASB are attempting to resolve the differences between U.S. GAAP and IFRS using a process known as

1 answer:

8 0

The answer for this question is: Convergence
Convergence is a form of action that will transform a certain difference between two parties into one uniformity.
This step is really important so the accountant that operates all around the world will have the same standard to conduct in handling their financial operations.

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Your boss has asked you to calculate the profitability ratios of Cold Goose Metal Works, Inc. and make comments on its second-ye

Alinara [238K]

Answer:

Gross Margin % 59.2% 53.8%

compares gross profit to sales revenue

Ne income Margin 32.0% 28.9%

compares net income to sales revenue

ROA return on assets 10.8% 12.3%

net earnings relative to the company’s total assets.

ROE return on equity 32.5% 23.1%

net income relative to stockholders’ equity,

Explanation:

Net Sales 3,810,000 3,000,000

Operating costs less depreciation/amortization 1,365,000 1,267,500

Depreciation and amortization 190,500 120,000

Total Operating Costs 1,555,500 1,387,500

Operating Income (or EBIT) 2,254,500 1,612,500

Less: Interest 225,450 169,313

Earnings before taxes (EBT) 2,029,050 1,443,187

Less: Taxes (40%) 821,620 577,275

Net Income 1,217,430 865,912

assets 11,277,600 7,050,000

Equity 3,750,000 3,750,000

Gross Margin % 59.2% 53.8%

compares gross profit to sales revenue

Ne income Margin 32.0% 28.9%

compares net income to sales revenue

ROA return on assets 10.8% 12.3%

net earnings relative to the company’s total assets.

ROE return on equity 32.5% 23.1%

net income relative to stockholders’ equity,

8 0

2 years ago

Explain the four basic elements of all economic systems.

Alekssandra [29.7K]

Answer: They are personal consumption, business investment, government spending, and net exports.

Explanation:

6 0

2 years ago

The term "balanced reciprocity" refers to:_______.A. The system of exchange in which items are bought and sold, using money, wit

frez [133]

Answer:

D. The system of exchange between people where the giver usually expects something in return.

Explanation:

Balanced reciprocity refers to a system of exchange between people where the giver usually expects something in return. It is also known as Symmetrical reciprocity.

5 0

2 years ago

Read 2 more answers

Suppose two factors are identified for the U.S. economy: the growth rate of industrial production, IP, and the inflation rate, I

lawyer [7]

Answer:

The new rate of return is 15.4%

Explanation:

The revised estimate on the rate of return on

the stock would be:

• Before

• 14% = α +[4%*1] + [6%*.4]

α = 7.6%

• With the changes:

• 7.6% + [5%*1] + [7%*.4]

The new rate of return is 15.4%

7 0

2 years ago

assume you decide to start a business and you quit your job that was paying you $60,000 a year. you pay $36,000 to the landlord

marta [7]

The implicit cost is $61,000.

<h3>What is the implicit cost?</h3>

Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

When you decide to start the business, you forgo the amount you earned from your job and the interest you were earning.

$60,000 + 1,000 = $61,000

Please find attached the complete question. To learn more about implicit cost please check: brainly.com/question/25776323

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5 0

1 year ago