Answer:
return on assets= 0.09= 9%
Explanation:
Giving the following information:
The Kingwood Company reported a net income of $40,000 and the average total assets of $440,000.
To calculate the return on assets, we need to use the following formula:
return on assets= net income / average total assets
return on assets= 40,000 / 440,000= 0.09
Answer:
Price =$1,285.71
Explanation:
<em>A perpetual bond is that which pays a fixed amount of interest income for the foreseeable future. It issuer does not always have an obligation for redemption under the terms of loan contract.</em>
The price of perpetual bond can be determined as the present value of a perpetuity. An perpetuity is an annuity that pays a fixed amount of cash flow for a certain number of years
PV = A/r
PV- price of bond- ?
A- annual interest - 45
r- Yield to maturity- 3.5%
Price = 45/0.035=1,285.714
Price =$1,285.71
Answer: The available balance for your account may differ from the current balance because of pending transactions that have been presented against the account, but have not yet been processed.
Explanation:
Answer:
outstanding checks at the end of December = $14,748
Explanation:
Checks Written
November $53300
December <u>$72910</u>
<u>126,210</u>
Checks Presented
November $48776
December <u>$62686</u>
<u>1111,462</u>
<u />
<u />
<u>126,210</u> - <u>1111,462 = 14,748</u>
Answer:
The answer is $243,000
Explanation:
The inventory on July 8 immediately prior to the fire is the CLOSING INVENTORY.
To find this closing inventory, we need to find the gross profit first and then cost of sales.
To find gross profit:
Gross profit margin=gross profit ÷sales.
Gross profit margin is 20% or 0.2
Sales is $690,000
Therefore, gross profit is:
0.2 x $690,000
=$138,000
To find cost of sales:
Gross profit = sales - cost of sales.
Gross profit is $138,000
Sales is $690,000
Therefore, cost of sales is
$690,000 - $138,000
=$552,000.
And finally to get closing inventory:
Cost of sales = opening inventory + purchases - closing inventory.
Cost of sales = $552,000
Opening inventory = $140,000
Purchases = $655,000
Closing inventory = $140,000+$655,000-$552,000
=$243,000.