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UkoKoshka [18]
3 years ago
13

​Bryant, Inc. provides the following​ data:2017 2016Cash $47,000 $25,000Accounts Receivable, Net 100,000 62,000Merchandise Inven

tory 75,000 50,000Property, Plant, and Equipment, Net 182,000 120,000Total Assets $404,000 $257,000Additional information:Net Credit Sales $530,000Cost of Goods Sold 170,000Interest Expense 20,000Net Income 185,000Calculate the rate of return on total assets for 2017. (Round your answer to two decimal places.)
Business
1 answer:
statuscvo [17]3 years ago
8 0

Answer:

The rate of return on total assets for 2017 is 62.03%

Explanation:

The return on total shows assets shows a relationship between the net income including interest expenses and the average total assets.

The computation of the rate of return on the total assets is shown below:

Rate of return on the total assets = {(Net income + Interest expense) ÷ average total assets)}  × 100

= ($185,000 + $20,000) ÷ {($404,000 + $257000) ÷ 2} × 100

= ($205,000 ÷ $330,500) × 100

= 62.03%

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The balance in Accounts Receivable at the beginning of the year was $ 550 comma 000. The balance in Accounts Receivable at the e
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Answer:

$3,400,000

Explanation:

The computation of the credit sales is shown below:

As we know that

Closing balance of  accounts receivables = Opening balance of  accounts receivables + Credit Sales - Bad debts written off - Cash collected from credit customers

$750,000 = $550,000 + credit sales - $460,000 - $4,060,000

$750,000 = $4,150,000 + credit sales

So, the credit sales is

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3 years ago
Campbell a single taxpayer, has $400,000 of profits from her general store that she operates as a sole proprietorship. She has $
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Answer:

A) $80,000

Explanation:

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3 years ago
Batman parked the Batmobile himself and kept the bat keys. There was no attendant at the lot. Two hours later, Batman left the r
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When a vacuum cleaner salesman persuades people to let him vacuum their living room for free, he is likely to increase his chanc
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In what year was the EEOC established<br> O<br> A. 1970<br> B. 1930<br> C. 2007<br> D. 1965
Maslowich

Answer:

D. 1965

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The Civil Rights Act of 1964 is a civil rights and labor law in the United States of America that prohibits discrimination in employment, segregation in schools, and enforces the constitutional voting rights of the citizens.

The Civil Rights Act of 1964 was enacted by the 88th US Congress and signed into law on the 2nd of July, 1964 by President Lyndon B. Johnson.

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