Davy Crockett invested $15,000 in Mike Fink Rafting Company. At the end of the year, Crocketts investment
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Davy Crockett invested $15,000 in Mike Fink Rafting Company. At the end of the year, Crockett’s investment was worth $17,250 because of earnings during the year. Fink paid Crockett $3,000 at the end of the year. What was Crockett’s return on investment (in dollars) for the year? What was his return of investment (in dollars) for the year? Did Mike Fink Rafting maintain its capital as a result of these events? Explain.
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Financial Accounting Information For Decisions
ISBN: 978-0324672701
6th Edition
Authors: Robert w Ingram, Thomas L Albright
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