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Genrish500 [490]
3 years ago
7

For Year 2, Etzkorn Corporation's sales were $1,480,000, its gross margin was $580,000, its net operating income was $63,714, it

s net income before taxes was $42,714, and its net income was $29,900. The company's total stockholders' equity at the end of Year 2 amounted to $829,000 and at the end of Year 1 to $800,000. The company's return on equity for Year 2 is closest to:
a. 3.67%
b. 60.16%
c. 5.24%
d. 7.82%
Business
1 answer:
mixer [17]3 years ago
6 0

Answer:

Return on equity = Net income/Shareholders' equity x 100

                            = $29,600/$829,000 x 100

                            = 3.57%

The company's return on equity is closest to 3.67%

Explanation:

Return on equity is the ratio of net income to shareholders' equity. The net income = $29,600 and shareholders' equity = $829,000. The division of net income by shareholders' equity gives return on equity.

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Answer:

No adjustment in records can be made until the asset is sold.

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This is an example of cost concept. Assets are generally recorded at cost and remain on the accounting records at cost until they are disposed of. Future economic condition may change this appraised value, and therefore no adjustment in records can be made until the asset is sold.

8 0
3 years ago
All of the following statements regarding a limited partnership subscription agreement are true except
USPshnik [31]

*A limited partner's signature on the subscription agreement grants the general partner power of attorney to conduct the partnership's affairs. The subscription agreement for a limited partnership is deemed accepted when the general partner signs the subscription agreement.

<h3>What is a subscription agreement for a limited partnership?</h3>

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<h3>What does the general partner's signature on the subscription agreement mean?</h3>

The limited partners are given authority to manage the partnership's affairs by the general partner's signature. The subscription agreement, when executed by a limited partner, gives the general partner the authority to manage the business of the partnership.

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Recourse notes obligate the limited partner to make payments regardless of what transpires. He is legally responsible for the $40,000, making his tax base and possible maximum loss $50,000.

A) manage partnership assets on behalf of the partnership as an agent. B) offer the limited partnership real estate.

Learn more about Limited partnership:

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4 0
2 years ago
Using someone else's money, promising to repay at a future date, and paying a fee for use of the money, is the definition for:
Karolina [17]
Hello, this would be credit
5 0
4 years ago
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The U.S. Supreme Court case United States v. Bagley compels the prosecution to disclose any evidence that the _________ requests
nikdorinn [45]

Hello,

Question - The U.S. Supreme Court case United States v. Bagley compels the prosecution to disclose any evidence that the _________ requests.

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3 years ago
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Subscribe to my channel :))<br><br>It would mean so much<br><br>- avastories​
cricket20 [7]

Answer:

Hey mate....

subscribed already.....thx for points

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3 years ago
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