calculate return on assest for this statement
Q: In the course of your audit of Cash of Fatherhood Corporation as of and for the period ended…
A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…
Q: a) Discuss the concepts of complete capital markets, pure (Arrow-Debreu) securities, and pure factor…
A: Financial instruments are the legal documents which have some monetary value. It can be either in…
Q: Double Bounce Trampolines produces two models of trampolines for backyard fun. The "Original", and…
A: Lets understand the basics. There are two type of costing methods are generally followed which are,…
Q: Use the following information and the indirect method to calculate the net cash provided or used by…
A: Operating activities in the cash flow statement refers to the one which reports the cash payments or…
Q: The comparative statements of financial position for Judy Inc. are presented below: JUDY INC.…
A: Cash flow from operating activities :— It is one of the section of cash flow statement which shows…
Q: (b) Briefly comment upon the changes between March 31, 2021 and March 31, 2022 in respect of the…
A: (Assumption - it is assumed that there no any Cash balance at the end of Year 2021 and Year 2022)…
Q: Using the high low method, estimate total maintenance cos should activity levels reach 15,500…
A: High Low Method :— Under this method, fixed and variable cost are separated from total mixed costs.…
Q: A company incurred the following costs for a new delivery truck: Purchase price $148,000 Sales…
A: Cost of asset is the amount at which the asset is bought by the entity from the market. It, not only…
Q: Please assist Prepare a Trade Payables reconciliation statement as at 31 March and 30 April.
A: The trade payable reconciliation is the process that involves comparing balances in two or more sets…
Q: Required: Prepare the statement of retained earnings for Armani Company for the current year ended…
A: Retained Earnings :— Retained earnings are the amount of profit a company has left over after paying…
Q: 3. Triple U Law Office has a usage of 1,000 pcs of medium sized box files quarterly in the law firm.…
A: Economic order quantity - Re-order level quantity at one time where the total cost of material will…
Q: The following costs and relevant data, which represent normal activity levels, have been budgeted…
A: According to the given question, we would compute the overhead absorption rate for the three…
Q: fixed costs are $1,260,000, the unit selling price is $202, and the unit variable costs are $110,…
A: Break even point is where there is no profit and no loss situations and the all cost are covered…
Q: The following information is for Dylex Corporation: a Balance per the bank statement dated July 31,…
A: Bank reconciliation is the statement which is prepared to reconcile the cash and bank balance…
Q: Assume that Corn Co. sold 7,800 units of Product A and 2,200 units of Product B during the past…
A: In order to determine the breakeven point, the fixed cost are required to be divided by the…
Q: Jasmine Traders is a home and nursery centre located in Johannesburg. Jasmine Traders is having…
A: A client issues a debit note to the supplier in case he wants a refund, there may be various reasons…
Q: 3. North Company is preparing the annual financial statements dated December 31, 2020. Information…
A: NRV = NRV is stood for Net realisable Valua. the value for which an asset can be sold, minus the…
Q: Show your work Do not use Excel or Matrix Unearned Revenue A rental company owns a building…
A: Revenue recognition is one of the accounting principle being used in business. As per this…
Q: Prepare a physical flow schedule for May (Step 1). 2. Prepare an equivalent units schedule for May…
A: Equivalent units :— It is calculated by multiplying percentage of completion with units. Analysis…
Q: Zeke Company sells 25,900 units at $18 per unit. Variable costs are $8 per unit, and fixed costs are…
A: Contribution margin = Sales - variable cost = $18 - $8 = $10 Contribution margin ratio =…
Q: Required: a. The stock options are incentive stock options. b. The stock options are nonqualified…
A: Stock Options :— A stock option gives an investor the right, but not the obligation, to buy or sell…
Q: On January 10, 2020, Fey Co. acquired a 40% interest in Hana Co. for P4,800,000. Fey already held a…
A: When a company acquires another company, it pays the seller company, and in return, the buyer…
Q: Percise 5-10 Calculating expenses and cost of goods sold-perpetual LO1, 3, 5, 6 Westlawn Company…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: rder is an example of an adjusting difference. True or False Bank understates a deposit on the bank…
A: Adjusting differences are necessary in the account when there is mismatch between the debit and…
Q: The brand name of hand sanitizers has acquired by the company as part of another company…
A: Intangible assets refer to those types of assets which does not have any physical form in reality or…
Q: What the responsibilities of the firm of accountants as far as money laundary is concern.
A: Money laundering is the process of obscuring the source of funds earned through illegal activities…
Q: Choose the letter of the correct answer.
A: Financial statements refer to the recording of the business activities in the written format…
Q: Ronald has a Burger Restaurant located near a local University. The restaurant not only sells two…
A: Lets understand the basics. Break even point is a point at which no profit no loss condition arise.…
Q: If a business had sales of $4,369,000 and a margin of safety of 20%, the break-even point was…
A: The sales level at which the company's revenues equal the company's costs resulting in no profits…
Q: Johnson Marine has the following costs and expected sales for the coming year. Johnson is…
A: Cost per unit can be calculated by dividing the total cost of the product by the total number of…
Q: Using the categories of liquidity, profitability and operations management describe which ratios…
A: Solution Ratios analysis is used to determine the information regarding organisation's…
Q: You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets.…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: On October 1, Year 7 Durian Co. of Quebec, ordered merchandise from MAGA Co. of US. The purchase…
A: Hedging is an activity that is performed or undertaken in order to mitigate the risks of possible…
Q: Reynold's Company has a product with fixed costs of $264,000, a unit selling price of $24, and unit…
A: Particulars $ Unit variable cost 19 Less: decrease in variable cost 2 Current unit variable…
Q: Question 8 of 100 Depending on the specific needs of a business, a separate special journal is…
A: Journal - A journal is a thorough account that documents all of a company's financial activities. It…
Q: On January 1, 2021, a company issues 3-year bonds with a face value of $50,000 and a stated interest…
A: Interest expense = Issue price of bond × Market interest rate Cash paid = face value×stated interest…
Q: For federal income tax purposes, the difference between the total income and total expenses reported…
A: Accounting income is the difference between total income earned and total expenses incurred.
Q: Current Attempt in Progress If the cost of direct materials used is $1700000 during a period,…
A: Cost sheet is a method of allocating total cost into different categories. It helps to identify the…
Q: Sea Ltd (the parent) sold an item of plant to Bill Ltd (the subsidiary) for $12,000 on 31/12/2021.…
A: Consolidating finances: Handling intercompany transactions One of the most frequent issues with…
Q: Does the brand value of $220,000 get taken up in the aquisition analysis or considersation? Or is…
A: Brand value refers worth in monetary terms of the brand, if person would sell it and when company…
Q: On a set of internal interim financial statements, which numbers would be the most relevant to use…
A: Financial statements are those statements which are prepared at the end of financial period to…
Q: b) he Cape Cod Cotton Candy Company had the following information available regarding last year's…
A: Variable cost per unit :— It is the variable cost divided by number of units. Contribution margin…
Q: Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance…
A: Introduction: A cash flow statement is a financial report which summarizes a company's cash inflows…
Q: If you were only allowed one, which of the five statements would you select to determine whether or…
A: Income statement are prepared for assessing a company's financial performance over the specific…
Q: Identifying Financial Statement Line Items and Accounts Several line items and account titles are…
A: The income statement records all the expenses and revenues and tells the profit or losses for the…
Q: These financial statement items are for Sunland Corporation at year end, July 31, 2021: Operating…
A: Statement of changes in equity is the one which is prepared to determine the ending balance of…
Q: Data: Inventory balances on January 1: Raw materials Work in process Finished goods E Estimated…
A: Lets understand the basics. Journal entry is required to make to record an event and transaction…
Q: Bluestone Company had three intangible assets at the end of the current year: A patent purchased…
A: Intangible Assets According to IAS 38 which specifies the standards for identifying and valuing…
Q: Reduction and elimination of corporate income taxes (CIT) and the economic result: Examples from…
A: Corporate income tax refers to the tax which is imposed by the federal and state governments on the…
Q: In each of the following independent situations, determine if the redemption of shares will be…
A: After redemption, if the shareholder will still own shares of the corporation, the considerably…
Accounting
Step by step
Solved in 2 steps
- Ski West, Incorporated, operates a downhill ski area near Lake Tahoe, California. An all-day adult lift ticket can be purchased for $85. Adult customers also can purchase a season pass that entitles the pass holder to ski any day during the season, which typically runs from December 1 through April 30. Ski West expects its season pass holders to use their passes equally throughout the season. The company's fiscal year ends on December 31. On November 6, 2024, Ski West sells a season pass to Jake Lawson for $450. Required:What are the financial statement effects from the sale of the season pass on November 6, 2024?Requirement 1. Compute these ratios: Working Capital Current Debt-to- Ratio Cash Ratio Debt Ratio Equity Ratio Round ratios to two 14.44 212400 7.73 decimal places or format as percentages or Accounts Days Sales currency as appropriate. Inventory Days Sales in Gross ProfitReceivable in Turnover Inventory Percentage Turnover Receivables 2019 Total Assets = Rate of Rate of Asset Return on Return on Turnover Stockholders' Earnings Total Assets Ratio Equity Per Share 2019 SHE = Price/ Earnings *Current Stock Price is Dividend $10.00 per share Ratio* Dividend Yield Payout Dividend per share= Requirement 2. Based on the ratios computed above, analyze the company's ability to pay its debts (both current and long term). Refer to at least 3 specific ratios in your analysis. Requirement 3: Based on the ratios computed above, analyze the company's management of inventory. Refer to at least 2 specific ratios in your analysis. Requirement 4: Based on the ratios computed above, analyze the company's…Solar Solutions began operations on January 1, 2015, and is now in its sixth year of operations. It is a retail sales company with a large amount of online sales. The adjusted trial balance as of December 31, 2020 appears below, along with prior year balance sheet data and some additional transaction data for 2020. SOLAR SOLUTIONS Adjusted Trial Balance 12/31/2020 2020 2019 Account Title Adjusted Trial Balance Post-Closing Trial Balance $ 125,600 Debit Credit 35,000 6,000 Debit Credit Cash Accounts Receivable Prepaid Insurance Inventory Office Equipment Machinery & Tools |Accumulated Depreciation Accounts Payable Salaries Payable Sales Tax Payable Note Payable-Long Term Common Stock, $10 par Retained Earnings $ 122,200 125,600 55,000 35,000 15,600 5,000 6,000 47,000 46,000 15,600 21,000 63,000 47,000 (16,000) $ 234,200 59,000 21,000 21,000 16,000 11,200 16,800 2,600 2,700 2,000 31,000 4,000 22,100 240,000 160,000 28,600 28,600 Dividends 10,000 Sales Revenue 235,000 Cost of Goods Sold…
- What data flows from the statement of retained earnings to the balance sheet?a. Net incomeb. Cashc. Ending retained earningsd. AssetsO Terminology Matching Long-Term Investments Ratio Analysis Depreciation Intangible Assets Current Liabilities Long-Term Liabilities Liquidity Ratios Solvency Ratios SEC IFRS Hg continued - Academic Resou... Terminology Matching - Academic Res... Oversees U.S. financial markets and accounting standard- setting bodies Obligations to pay within the next year of the operating cycle Set accounting standards that have been adopted by many countries outside the United States Expresses the relationship among selected items of financial statements Allocation of the cost of an asset to a number of years Examples: Current ratio, working capital ratio Examples: Bonds payable, mortgages payable, long-term notes payable, lease liabilities, pension liabilities Measures the ability of the organization to survive over a long period of time Examples: Stocks and bonds that are held more than 1 year, land, buildings, long-term notes Examples: Goodwill, character, patents, copyrights, trademarks,…Identify the asset from the following list of accounts:a. Notes Payableb. Common Stockc. Retained Earningsd. Inventory
- Question 3 Explain the following accounting terms used in the preparation and presentation of published financial statements: Reserves Earnings per share Debenture interest Share premiumWhat item flows from the income statement to the statement of retained earnings?a. Cashb. Dividendsc. Net incomed. InventoryPlease fill out vertical analysis of this balance sheet to determine component percentage of assets liabilities and stockholders equity based on data. Round percentages to the nearest hundredths percent
- Interdependence of financial statements (a) Which financial or operational data item appears on both the income statement and the statement of stockholders' equity? (a) Which item appears on both the balance sheet and the statement of retained earnings? (c) Which line item occurs on both the balance sheet and cash flow statement?a. Return on equityb. Total assets turnoverc. Return on assetsd. Current ratioe. Receivables turnoverMark for Review Question 26 of 30 The ratio quantifies the degree of available liquid assets is Liquidity coverage ration Temporay assets to total assets O Temporary assets to volatile liabilities Veiatie liabilities to total assets