Answered step by step
Verified Expert Solution
Question
1 Approved Answer
During its first three months of operations, Carl's Bakery, Inc, purchased supplies such as plates, napkins, bags, and cutlery for $18,000 and recorded this as
During its first three months of operations, Carl's Bakery, Inc, purchased supplies such as plates, napkins, bags, and cutlery for $18,000 and recorded this as supplies inventory Supplies on hand at the end of the first quarter, amount to $11.200, To prepare financial statement for the first quarter, the company must record which of the following accounting adjustments? Select one: a. None of the above b. Increase Supplies expense by 56,800 and decrease Supplies inventory by 56,800 C. Increase Supplies expense by $11.200 and decrease Supplies inventory by $11.200 d. Increase Supplies inventory by 56,800 and decrease Supplies expense by 56,800 e. Increase Supplies inventory by $11.200 and decrease Supplies expense by $11.200 O que The year-end balance sheet of Pointe Company shows average Pointe shareholders' equity attributable to controlling interest of $14,994 million, net operating profit after tax of $2,308 million, net income attributable to Pointe of 52,513 million, and common shares issued of 1425 066 million Assume the company has no preferred shares issued. Pointe's return on equity (ROE) for the year is: Select one: a. 16.89 b. 56.79 C. 15.4% d. There is not enough information to calculate the ratio e. 61.7%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started