Refer to the information presented in Mini-Exercise. Assume that Gandolfi Construction Co. calculated depreciation expense for the
Question:
Refer to the information presented in Mini-Exercise. Assume that Gandolfi Construction Co. calculated depreciation expense for the CAT 336DL earth mover on the straight-line method and reported $600,000 of net in-come for the year ended December 31, 2016. The company's average total assets for 2016 were $4,000,000.
Required:
a. Calculate Gandolfi's ROI for the year ended December 31, 2016.
b. Calculate what Gandolfi's ROI would have been for the year ended December 31, 2016, had the company used the double-declining-balance depreciation method for the CAT 336DL earth mover.
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a ROI Net income average total assets ROI for the year ended December 31 2016 600000 40...View the full answer
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Accounting What the Numbers Mean
ISBN: 978-1259535314
11th edition
Authors: David Marshall, Wayne McManus, Daniel Viele
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