All categories

3 years ago

Hot Shot Delivery Inc. provides the following year end data:

Business

1 answer:

damaskus [11]3 years ago

4 0

Answer:

c. 42.6%

Explanation:

Average total assets = $410,000+$257,000/2

Average total assets = $667,000

Average total assets = $333,500

Net income = $112,000

Interest expenses = $30,000

Return on total assets = Net income + Interest expenses / Average total assets

Return on total assets = $112,000 + $30,000 / $333,500

Return on total assets = 0.42388060

Return on total assets = 42.39%

You might be interested in

The unemployment rate in an economy is 6 percent. The total population of the economy is 290 million, and the size of the civili

Natali [406]

Answer:

The answer is B.

Explanation:

Unemployed people are those who are out of work and who are actively looking for a job. They are also those citizens they are willing to work but cannot find.

The unemployment rate is 6 percent.

So, The number of unemployed workers in this economy is 9 million (6 percent of 150 million civilian labour force)

We cannot use the total population because out of it, we have young citizen and old ones who are not searching for or willing to work.

4 0

3 years ago

Identify the accounting assumption or principle that is described below. (a) Belief that a company will remain in operation for

Leviafan [203]

Answer:

(a) Belief that a company will remain in operation for the foreseeable future.

Accounting assumption or principle: Going concern assumption

(b) Indicates that personal and business record-keeping should be separately maintained.

Accounting assumption or principle: Economic entity assumption

Accounting assumption or principle: Monetary unit assumption

(d) Separates financial information into time periods for reporting purposes.

Accounting assumption or principle: Periodicity assumption

(e) Measurement basis used when a reliable estimate of fair value is not available.

Accounting assumption or principle: Historical cost principle

(f) Dictates that companies should report all circumstances and events that make a difference to financial statement users.

Accounting assumption or principle: Full disclosure principle

4 0

3 years ago

A newly formed firm must decide on a plant location. There are two alternatives under consideration: locate near the major raw m

NARA [144]

Answer:

Kansas city

Explanation:

$-477500

$-310,750

7 0

2 years ago

Computing Gross Profit The following data were taken from the accounts of Fluter Hardware, a small retail business. Sales $121,8

nikklg [1K]

Answer:

$46,430

Explanation:

Data provided in the question:

Sales = $121,800

Sales returns and allowances = 970

Sales discounts = 560

Merchandise inventory, January 1 = 34,300

Purchases during the period = 76,700

Purchases returns and allowances during the period = 3,820

Purchases discounts taken during the period = 2,460

Freight-in on merchandise purchased during the period = 1,120

Merchandise inventory, December 31 = 32,000

Now,

Net sales = Sales - Sales returns and allowances - Sales discounts

= $121,800 - $970 - $560

= $120,270

Cost of good sold

= Opening Inventory + Net purchases + Freights - Closing Inventory

= 34,300 + ( 76,700 - 3,820 - 2,460 ) + 1,120 - 32,000

= $73,840

Therefore,

Gross profit = Net sales - Cost of good sold

= $120,270 - $73,840

= $46,430

8 0

3 years ago

In the late nineteenth century, what helped narrow the gradations of freedom amongst white Americans? a. Indentured servitude ha

ElenaW [278]

In the late nineteenth century, Judith Sergeant Murray wrote about women’s intellect being equal- this helped narrow the gradations of freedom amongst white Americans.

Option: B

Explanation:

In the late nineteenth century there was a conflict in between white Americans about the freedom. Their fight against each other graded by the help of writer and other professionals who wrote about their strong points. Judith Sergeant Murray who was an American writer and advocate wrote about women's right.

Gender discrimination, women's right, feminism was the core area of writing in Judith Sergeant Murray's work. He compared women's ability with man's, their imagination, decision making capacity, judgemental motives etc.

5 0

3 years ago