When making a major purchase first determine your

A firm has a return on equity of 20 percent. The total asset turnover is 2.8 and the profit margin is 7 percent. The total equit

kondor19780726 [428]

The net income of the firm is $1,200

<h3>What is net income?</h3>

Net income refers to the amount an individual or business makes after deducting costs, allowances and taxes.

Net profit is also amount of money a business earns after deducting all operating, interest, and tax expenses over a given period of time.

First, we know that:

Return on equity

= Net income / Total equity

Fixing the given values, we'll have

20% = Net income / $6,000

Net income = $6,000 * 20%

Net income = $1,200

Therefore, net income of the firm is $1,200

Learn more about computation of net income here: brainly.com/question/24836146

4 0

2 years ago

Economics: a. studies human behavior when scarcity exists and choices must be made. b. does not accurately explain any human beh

kari74 [83]

Answer: Economics studies the behaviour of human beings when there is scarcity and choices have to be made.

Explanation:

Economics is a social science i.e study of human behavior in relation to the manufacturing, distribution and consumption of products. Economics focal point is the interaction and behaviour of economic agents (households, firms and governments) and how economies work.

Economics is divided into microeconomics and macroeconomics. Microeconomics deals with the small elements in the economy such as interaction of markets and prices of certain products. Macroeconomics deals with the whole economy and issues discussed include unemployment, economic growth, inflation etc.

6 0

3 years ago

Heavy Products, Inc. developed standard costs for direct material and direct labor. In 2017, AII estimated the following stand

Nitella [24]

Answer:

Direct labor efficiency variance= 0

Explanation:

Giving the following information:

Direct labor 0.2 hours $ 35 per hour. During June, Heavy Products produced and sold 16,000 containers using 3,200 direct manufacturing labor-hours at an average wage of $ 51.00 per hour.

Direct labor efficiency variance= (Standard Quantity - Aactual Q)*standard rate

Direct labor efficiency variance= (0.2*16,000 - 3,200)*35= 0

5 0

3 years ago

When examining the person-job fit of someone who is high in extroversion, we might expect that people high in extroversion wou

Artist 52 [7]

Answer: Dependable on communication

Explanation:

An extrovert is a person who is at ease with communication, working in a company whose culture is effective communication will be a great fit.

7 0

3 years ago

Equipment costing $16000 is purchased by paying $4000 cash and signing a note payable for the remainder. The journal entry shoul

grigory [225]

Answer:

c. credit to notes payable

Explanation:

Based on the information given we were told that the Equipment which cost the amount of $16000 was purchased by paying the amount of $4000 as cash which means that if the company sign a NOTE PAYABLE for the remainder. The journal entry should include a: CREDIT TO NOTES PAYABLE

5 0

3 years ago