The return on assets for Cruz Company with a total revenue of $80,175 and total expenses of $50,000, given average assets of $425,000 is 7.1%.
Return on Assets = Net Income/Average Assets x 100
= $30,175/$425,000 x 100
= 7.1%
- The return on assets indicates the profitability of Cruz Company relative to its assets. It is expressed as a percentage by dividing the Net Income with the Average Assets, then multiplied by 100.
Data and Calculations:
Revenue = $80,175
Expenses = $50,000
Net income = $30,175
Assets:
Beginning balance = $400,000
Ending balance = $450,000
Average assets = $425,000 ($400,000 + $450,000)/2
Thus, the return on assets equals 7.1% for the year.
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Answer:
A. Cash, Salary payable, and Retained earnings
Explanation:
The post-closing trial balance is prepared after recording the closing entries with respect to all revenues earned, all expenses incurred, and the cash dividend
.
It should be always matched and equal that means the total of the debit column and the total of credit column is equaled and zero.
So, the most appropriate option is A.
Answer:
a. volatility
Explanation:
From the question, we are informed that "Even as it begins to produce the Mirai for the U.S. market, Toyota continues to manufacture its traditionally fueled cars, trucks, and SUVs. In case of Doing this it helps Toyota manage the volatility of industrial demand.
volatility of industrial demand do occur where there is uncertainty as far as demand is concerned in the consumer products , as a result of this most firms to catch up with compitition, growing their sales an lot more , so in this case Toyota still continues to manufacture its traditionally fueled cars, trucks, and SUVs even though there is Mirai for the U.S. market.
Answer:
b. $120,000
Explanation:
The computation of the amount of sales will be reported in the 20X8 consolidated income statement is shown below;
= Total consolidated sales - Intra company sales
= $120,000 + $90,000 - $90,000
= $120,000
Hence, the amount of sales will be reported in the 20X8 consolidated income statement is $120,000
Therefore the option b is correct