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Viktor [21]
3 years ago
5

The Dennis Company reported net income of $50,000 on sales of $300,000. The company has average total assets of $500,000 and ave

rage total liabilities of $100,000. What is the company's return on equity ratio?
A) 10.0%.B) 16.7%.C) 12.5%.D) 50.0%.
Business
1 answer:
densk [106]3 years ago
7 0

Answer:

C) 12.5%

Explanation:

The computation of the return on equity is shown below

Return on equity is

= net income ÷ equity

where,

equity is

= Total assets - total liabilities

= $500,000 - $100,000

= $400,000

Now the return on equity is

= $50,000 ÷ $400,000

= 12.50%

Hence, the return on equity is 12.50%

Therefore the corredct option is c.

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Answer:

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Answer:

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         Debit Allowance for doubtful accounts            $6,400

         Credit Accounts receivable                               $6,400

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