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r-ruslan [8.4K]
3 years ago
12

The balance sheet of Sub America reports total assets of $400,000 and $450,000 at the beginning and end of the year, respectivel

y. The return on assets for the year is 10%. What is Sub America's net income for the year?
Business
1 answer:
Rudiy273 years ago
6 0

Answer:

$42,500

Explanation:

Given that,

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%

Net Income ÷ Average total assets = 0.1

Net Income ÷ $425,000 = 0.1

Net Income = 0.1 × $425,000

                   = $42,500

Therefore, the Sub America's net income for the year is $42,500.

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On December​ 31st, Datton, Inc. has cost of goods sold of $ 550000​, ending inventory is $ 101000​, beginning inventory is $ 120
Gnoma [55]

Answer:

72 days

Explanation:

The computation of the accounts payable turnover ratio is shown below:

Accounts payable turnover ratio = Total Purchases ÷ Average Accounts payable

As we know that

Cost of goods sold =  Beginning inventory + total purchases - Ending inventory

i.e  

Total Purchases = Cost of goods sold + Ending Inventory – Beginning Inventory

= $550,000 + $101,000 - $120,000

= $531,000

So, the account payable turnover ratio is

= $531,000 ÷ $105,000

= 5.06 times

Now in days it is

= 365 days ÷ 5.06 times

= 72 days

5 0
2 years ago
Employee ExemptionsIdentify each job as generally being considered exempt or not from minimum wage or overtime pay (write a or b
tigry1 [53]

Answer:

certain jobs are excluded from minimum wage or overtime requirements. E.g. generally white collar jobs are exempt. Exemptions include other types of jobs, especially temporary jobs.

__B___ 6. Auto mechanic

___A__ 7. Fruit picker ⇒ seasonal job

__A___ 8. Worker on a foreign-flag cruise ship ⇒ they are not employed by an American company

__B___ 9. Librarian

__A___ 10. Taxi driver ⇒ earn sales commissions

__A___ 11. Real estate agent ⇒ earn sales commissions

__B___ 12. Bellperson at a hotel ⇒ They are not exempt, but their minimum wage is much lower.

__A___ 13. Computer programmer (paid more than $27.63 per hour)

__A or B___  14. Hairdresser ⇒ depends if they are paid based on sales commission or not, or if they receive tips. Hairdressers that receive commissions are exempt, and those who receive tips have a lower minimum wage. Only hairdressers that are paid on an hourly rate and do not receive commissions or tips must be paid a minimum wage. This applies generally to apprentices.

__B___ 15. Bank teller

4 0
2 years ago
What a primary cause of inflation​
lesantik [10]

Excess aggregate demand (AD)

Quick economic growth.

5 0
3 years ago
On January 1, 2018, Race Corp. acquired 80% of the voting common stock of Gallow Inc. During the year, Race sold to Gallow for $
harkovskaia [24]

Answer:

net income attributable to the non controlling interest is $40800

Explanation:

Given data

Race sold = $450000

cost = $330000

owned = 15%

net income = $204000

Race net income = $806000

to find out

net income attributable to the non controlling interest

solution

we find the non controlling interest

so we apply formula for non controlling interest that is

non controlling interest of income = net income × (100%  - 80%)

put here value of net income

non controlling interest of income = net income × (20%)

non controlling interest of income = 204000 × (20%)

non controlling interest of income = 40800

so net income attributable to the non controlling interest is $40800

8 0
3 years ago
Carol Thomas will pay out $14,000 at the end of the year 2, $16,000 at the end of year 3, and receive $18,000 at the end of year
Fittoniya [83]

The net value of the payments vs. receipts in today's dollars is ($11,102).

<h3>What is the present value?</h3>

The present value of future cash flows is the current value or the value in today's dollars.  It is computed by discounting the future values at the appropriate discount rate.

The present value can be computed using the Present Value formula, an online finance calculator, or the PV factor table.

Formula

PV=FV \frac{1}{(1+r)^{n}}

PV = present value

FV = future value

r = rate of return

{n} = number of periods

<h3>Data and Calculations:</h3>

Interest rate = 12%

Period     Cash flow     PV Factor     PV

Year 2     ($14,000)       0.797        -$11,158 ($14,000 x 0.797)

Year 3    ($16,000)        0.712        -$11,392 ($16,000 x 0.712)

Year 4     $18,000        0.636         $11,448 ($18,000 x 0.636)

Net present value of cash flows   -$11,102

Thus, the net value of the payments vs. receipts in today's dollars is ($11,102).

Learn more about present value at brainly.com/question/20813161

4 0
1 year ago
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