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Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable. Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating incone Interest and taxes: Interest expense Tax expense Net income $ 114,000 210,000 1. Average operating assets 2. Margin 2. Turnover 2. ROI 3. Residual income Beginning Balance $ 132,000 348,000 561,000 859,000 402,000 252,000 $ 2,554,000 $ 4,608,000 3,070,720 737,280 $ 382,000 981,000 1,191,000 $2,554,000 324,000 $ 413,280 % % Ending Balance The company paid dividends of $317,280 last year. The "Investment in Buisson, S.A," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15% $ 137,000 483,000 475,000 845,000 426,000 250,000 $2,616,000 The company paid dividends of $317,280 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15%. $ 348,000 981,000 1,287,000 $ 2,616,000 Required: 1. Compute the company's average operating assets for last year. 2. Compute the company's margin, turnover, and return on investment (ROI) for last year. (Round "Margin", "Turnover" and "ROI" to 2 decimal places.) 3. What was the company's residual income last year?

Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable. Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating incone Interest and taxes: Interest expense Tax expense Net income $ 114,000 210,000 1. Average operating assets 2. Margin 2. Turnover 2. ROI 3. Residual income Beginning Balance $ 132,000 348,000 561,000 859,000 402,000 252,000 $ 2,554,000 $ 4,608,000 3,070,720 737,280 $ 382,000 981,000 1,191,000 $2,554,000 324,000 $ 413,280 % % Ending Balance The company paid dividends of $317,280 last year. The "Investment in Buisson, S.A," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15% $ 137,000 483,000 475,000 845,000 426,000 250,000 $2,616,000 The company paid dividends of $317,280 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15%. $ 348,000 981,000 1,287,000 $ 2,616,000 Required: 1. Compute the company's average operating assets for last year. 2. Compute the company's margin, turnover, and return on investment (ROI) for last year. (Round "Margin", "Turnover" and "ROI" to 2 decimal places.) 3. What was the company's residual income last year?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating incone Interest and taxes: Interest expense Tax expense Net income $ 114,000 210,000 1. Average operating assets 2. Margin 2. Turnover 2. ROI 3. Residual income Beginning Balance $ 132,000 348,000 561,000 859,000 402,000 252,000 $ 2,554,000 $4,608,000 3,070,720 737,280 $ 382,000 981,000 1,191,000 $2,554,000 $ 413,280 % % Ending Balance The company paid dividends of $317,280 last year. The "Investment in Buisson, S.A," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15% $ 137,000 483,000 475,000 845,000 426,000 250,000 $2,616,000 The company paid dividends of $317,280 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15%. $ 348,000 981,000 1,287,000 $ 2,616,000 Required: 1. Compute the company's average operating assets for last year. 2. Compute the company's margin, turnover, and return on investment (ROI) for last year. (Round "Margin", "Turnover" and "ROI" to 2 decimal places.) 3. What was the company's residual income last year?
Transcribed Image Text:Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating incone Interest and taxes: Interest expense Tax expense Net income $ 114,000 210,000 1. Average operating assets 2. Margin 2. Turnover 2. ROI 3. Residual income Beginning Balance $ 132,000 348,000 561,000 859,000 402,000 252,000 $ 2,554,000 $4,608,000 3,070,720 737,280 $ 382,000 981,000 1,191,000 $2,554,000 $ 413,280 % % Ending Balance The company paid dividends of $317,280 last year. The "Investment in Buisson, S.A," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15% $ 137,000 483,000 475,000 845,000 426,000 250,000 $2,616,000 The company paid dividends of $317,280 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15%. $ 348,000 981,000 1,287,000 $ 2,616,000 Required: 1. Compute the company's average operating assets for last year. 2. Compute the company's margin, turnover, and return on investment (ROI) for last year. (Round "Margin", "Turnover" and "ROI" to 2 decimal places.) 3. What was the company's residual income last year?
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