Answer:
9.1%
Explanation:
With regards to the above, margin is computed as;
Margin = (Net operating income ÷ Sales) × 100
Given that:
Net operating income = $2,597,140
Sales = $28,540,000
Margin = ($2,597,140 ÷ $28,540,000) × 100
Margin = 9.1%
Answer:
$502,500
Explanation:
Heaton industries incorporation reported retained earnings of $225,000 on 12/31/2020
They also reported a net income of $172,500 during the year
On its previous balance sheet the company reported retained earnings of $555,000
Therefore the amount paid in dividends by Heaton during 2029 can be calculated as follows.
= $555,000+$172,500
= $727,500
$727,500-$225,000
= $502,500
Hence the amount paid in dividends by Heaton corporation during 2020 is $502,500
Answer:
Dec 31 Interest Receivable $4500 Dr
Interest Revenue $4500 Cr
Explanation:
The loan is for one year and the interest rate 10% is annual interest rate. Thus the tota interest revenue on loan for one yar will be,
interest revenue = 135000 * 0.1 = 13500
The adjusting entry is made on 31 december i.e. 4 months after the loan was granted to the customer. So, following the accrual basis, the 4 month's interest relates to this yeaar's period and the interest revenue will be recorded on 31 december along with a debit to interest receivable.
The 4 month's interest revenue = 13500 * 4/12 = 4500
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