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2 years ago

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Chabot Company had the following results last year: net operating income, $2,160; turnover, 5; and return on investment 18%. Cha

bot Company's average operating assets were: a. $300,000. b. $60,000. c. $10,800. d. $12,000.

1 answer:

Irina18 [472]2 years ago

5 0

Should be b! hope this helps

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PRO FORMA INCOME STATEMENT Austin Grocers recently reported the following 2016 income statement (in millions of dollars): Sales

padilas [110]

Answer:

Net income = $169.2

Growth in dividend = 76.25%

Explanation:

The projected figures are as below:

Sales = $700 x (1 + 15%) = $805 <em>(15% increase in sales)</em>

Operating costs including depreciation = $805 x 60% = $483 <em>(60% of sales)</em>

Interest expense = 40 <em>(remain constant)</em>

EBIT = Sales - Operating costs including depreciation = $805 - $483 = $322

EBT = EBIT - Interest expense = $322 - $40 = $282

Net income = EBT x (1 - Tax rate) = $282 x (1 - 40$) = $169.2

Dividend = Net income x Dividend payout ratio = $169.2 x (32/96) = $56.4

Growth in dividend = $56.4/$32 = 76.25%

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3 years ago

A summary of cash flows for Adventure Travel Service for the year ended April 30, 2019, follows:

zalisa [80]

Answer:

<u>Adventure Travel Service</u>

<u>Statement of cash flows for the year ended April 30, 2019</u>

<u>Cash flow from Operating Activities</u>

Cash receipts from customers $2,080,000

Cash payments for operating expenses ($1,706,000)

Net Cash from Operating Activities $374,000

<u>Cash flow from Investing Activities</u>

Purchase of land ($400,000)

Net Cash from Investing Activities ($400,000)

<u>Cash flow from Financing Activities</u>

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Drawings ($40,000)

Net Cash from Financing Activities $20,000

Movement in Cash and Cash Equivalents ($6,000)

Beginning Cash and Cash Equivalents $203,000

Ending Cash and Cash Equivalents $197,000

Explanation:

The Statement of Cash flows shows the results of cash from the following sources : Cashflow from Operating Activities, Cashflow from Investing Activities and Cashflow from Financing Activities.

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2 years ago

maximum amount willing to payGenesis Scents has two divisions: the Cologne Division and the Bottle Division. The Bottle Division

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Answer: $2.60

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Based on the information given in the question, the maximum amount that the Cologne Division would be willing to pay for each bottle transferred would be the amount that the company can purchase the containers in the external market which is given in the question as $2.60.

That's the highest amount that they can but the containers for. Therefore, the answer is $2.60

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3 years ago

On June 30, 2021, the Esquire Company sold some merchandise to a customer for $66,000. In payment, Esquire agreed to accept a 8%

umka21 [38]

Answer:

Esquire Company

Date Particulars Debit Credit

30 June Accounts Receivable $ 66,000

Sales $ 66,000

On June 30, 2021, the Esquire Company sold some merchandise to a customer for $66,000.

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Account Receivable $ 66,000

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March 31, 2022 collection of Note receivable and interest accrued.

2. The income will be understated by an amount of $ 3960 in 2021 if an adjusting entry is not made on Dec 31 of accrual interest.

The adjusting entry on 31st December 2022 of the interest accrual will not be required as interest has been received on March 31st 2022.

The income will be understated by $ 5280 in 2022 if an adjusting entry is not made on Mar 31st 2022 of the interest received.

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3 years ago

Tim is a single, cash-method taxpayer with an AGI of $50,000. In April of this year, Tim paid $1,160 with his state income tax r

Mamont248 [21]

Answer:

$7,580

Explanation:

In April of this year, Tim paid $1,160 with his state income tax return for the previous year.

Tim had $5,200 of state income tax

Tim made estimated payments of $1,220 of state tax.

Therefore:

$1,160 + $5,200 +$1,220=$7,580

Tim can deduct the state taxes paid with state income tax return for the previous year, state tax which was withheld during the year, and estimated payments of state tax, a total of $7,580 in which the expected refund next year will not affect the deductions for this year, due to the fact that it may be taxable next year under the tax benefit rule.

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3 years ago

Read 2 more answers