FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

Calculate the return on assets for a gift shop that has total assets of $350,000, current assets of $74,000, total liabilities of $280,000, accounts receivable

Calculate the return on assets for a gift shop that has total assets of $350,000, current assets of $74,000, total liabilities of $280,000, accounts receivable of $12,000, net sales of $64,000 and net profit after taxes of $23,000. 18.30% 6.57% 8.21% 25.04%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting 101 For Business Coaches How To Find Your High End Coaching Fees Before You Start Working With Your New High End Coaching Client
Accounting 101 For Business Coaches How To Find Your High End Coaching Fees Before You Start Working With Your New High End Coaching Client

Authors: Karl Bryan, Peter Lawson

1st Edition

1777684706, 978-1777684709

More Books

Students explore these related Accounting questions

Question

On January 1, 2017, McAdam Ltd., a private company reporting under ASPE, purchased 25% of the common shares of Tomecek Corporation for $175,000. Tomecek reported profit of $85,000 for 2017 and paid...

Answered: 3 weeks ago

Question

On January 1, 2019, the accounting records of SNL included a debit balance of $15 million in the building account and a credit balance of $12 million in the related accumulated depreciation account....

Answered: 3 weeks ago

Question

Which of the following statements is the best example of applied research? a. Investigating personality traits b. Using psychological concepts to boost worker productivity c. Experimenting with how...

Answered: 3 weeks ago

Question

A liquid mixture containing 40.0 mole% methanol and 60.0 mole% 1-propanol is placed in an open vessel and heated slowly. Estimate the temperature at which the mixture begins to boil. List assumptions...

Answered: 3 weeks ago

Question

Calculate the return on assets for a gift shop that has total assets of $350,000, current assets of $74,000, total liabilities of $280,000, accounts receivable of $12,000, net sales of $64,000 and...

Answered: 3 weeks ago

Question

Hello, Can somebody answer this? Select all that apply, then click Submit below Offer value (i.e. give readers information they can't get elsewhere) Determine what you hope to accomplish (i.e. what's...

Answered: 3 weeks ago

Question

Guzman Company carries three inventory items. The following information pertains to the ending inventory: Required a. Determine the ending inventory that will be reported on the balance sheet,...

Answered: 3 weeks ago

Question

A hurricane destroyed the inventory of Metal Supplies on September 21 of the current year. Although some of the accounting information was destroyed, the following information was discovered for the...

Answered: 3 weeks ago

Question

What happens during the first pass of the assembler (Fig. 6-1) if the line of code that has a pseudoinstruction ORG or END also has a label? Modify the flowchart to include an error message if this...

Answered: 3 weeks ago

Question

The square loop of wire in Figure P27.21 carries a current, and an external magnetic field is directed out of the page everywhere. If the magnetic force exerted on side 1 is to the right, determine...

Answered: 3 weeks ago

Question

Suppose that the following information represents the complete trade data for each country. Use these data and Equation 5.1 to calculate values of IIT for each country. Exports ($) Imports ($)...

Answered: 3 weeks ago

Question

List the main decision areas and concepts in employee compensation management. page 457

Answered: 3 weeks ago

Question

Describe the major administrative tools used to manage employee compensation. page 461

Answered: 3 weeks ago

Question

Explain where the United States stands from an international perspective on pay issues. page 477

Answered: 3 weeks ago

Previous Question Next Question