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cricket20 [7]
3 years ago
14

River Corp's total assets at the end of last year were $390,000 and its net income was $32,750. What was its return on total ass

ets?a. 6.28%.b. 5.73%.c. 6.82%.d. 6.48%.e. 7.71%.
Business
1 answer:
Alex73 [517]3 years ago
5 0

Answer:

8.40%

Explanation:

Total asset = $390,000

Net income = $32,750

Return on total asset = Net income / Total asset

Return on total asset = $32,750 / $390,000

Return on total asset = 0.083974358974359

Return on total asset = 8.40%

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Owner contributions and retained earnings are combined in a single capital account on the balance sheets of .proprietorships.

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8 0
1 year ago
We respect our employees and value their diversity" is an example of a statement you are most likely to find in the organization
Julli [10]

Answer: Mission

Explanation:

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3 0
2 years ago
During 2004, Thor Lab supplied hospitals with a comprehensive diagnostic kit for $120. At a volume of 80,000 kits, Thor had fixe
Diano4ka-milaya [45]

Answer:

d. $240.00

Explanation:

Calculation to determine what should the 2005 price be if Thor is to make the same $200,000 profit before income taxes?

2004 CM% = 12.5% ($15/$120)

2005 CM = $2,400,000 ($1,000,000 + $200,000)

2005 CM per unit = $2,400,000/80,000 units

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2005 selling price per unit = $30/.125

2005 selling price per unit= $240

Therefore what should the 2005 price be if Thor is to make the same $200,000 profit before income taxes is $240

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2 years ago
According to
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3 years ago
Without the cost concept, accounting reports would become unstable and unreliable.
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