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ehidna [41]
2 years ago
10

Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,500 C

ost of goods sold 7,700 Depreciation 445 Earnings before interest and taxes $ 1,355 Interest paid 90 Taxable income $ 1,265 Taxes 443 Net income $ 822 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 230 $ 265 Accounts payable $ 1,460 $ 1,580 Accounts rec. 1,010 910 Long-term debt 1,020 1,345 Inventory 1,680 1,670 Common stock 3,260 2,980 Total $ 2,920 $ 2,845 Retained earnings 600 850 Net fixed assets 3,420 3,910 Total assets $ 6,340 $ 6,755 Total liab. & equity $ 6,340 $ 6,755 What is the return on equity for 2017?
Business
1 answer:
romanna [79]2 years ago
6 0

Answer:

The return on equity for 2017 is 21.46 %

Explanation:

Return on equity measures the return earned on the owners investment in the company.

<em>Return on equity = Net Income for the year / Total Shareholders Funds × 100</em>

                            = $822 / ( $2,980 + $850) × 100

                            = 21.4621 or 21.46 %

Note : That Retained earning is part of Owners Investment.

Conclusion :

The return on equity for 2017 is 21.46 %

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Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $400. The fund wa
Sergio [31]

Answer:

A credit to Cash of $299

Explanation:

Journal Entry                     Debit    Credit

Merchandise inventory      $62

Delivery charges                 $46

Office supplies                    $30

Miscellaneous expenses    $51

Cash over and short             $100

Cash                                                   $299

Cash to be reimbursed = Minimum cash balance required - Cash balance left

Cash to be reimbursed = $500 - $201

Cash to be reimbursed = $299

7 0
2 years ago
Two workers have the job of placing plastic labels on packages before the packages are shipped out. The first worker can place 1
monitta

Answer:

The correct answer is: The second worker.

Explanation:

Productivity is an economic term describing the relationship between outputs as compared to inputs needed to produce those outputs. It is a measure of efficiency. Typically inputs are raw materials, labor, and capital assets. Outputs are generally expressed as either revenue or total units of finished goods.

In the example, a form to measure each worker's productivity is comparing how many plastic labels they can place per hour. Thus:

  • Worker 1: <em>1000 per 1/2 hour (30 minutes) </em>
  • Worker 1: <em>2000 per 1 hour  </em>

  • Worker 2: <em>850 per 1/3 hour (20 minutes)</em>
  • Worker 2: <em>2550 per 1 hour </em>

Then, the second worker is more productive.

3 0
2 years ago
Which of the following is NOT a characteristic of a confined space?
Arisa [49]
I think is the letter D
8 0
2 years ago
Photo Framing's cost formula for its supplies cost is $1,080 per month plus $18 per frame. For the month of November, the compan
Effectus [21]

Answer:

$526 was the spending variance in November

Explanation:

The spending variance in the month involves knowing the difference between actual supplies cost incurred in the month and the budgeted supplies cost based on actual activity

Budgeted supplies cost based on actual activity of 608 frames=$1080+(608*$18)

Budgeted supplies cost based on actual activity of 608 frames=$1080+$10,944=$12,024

Spending variance=$12,550-$12.024 =$526

The actual spend was $526 more than the budgeted spend based on actual activity,hence an unfavorable variance was recorded

6 0
1 year ago
Identify the type of sampling used​ (random, systematic,​ convenience, stratified, or cluster​ sampling) in the situation descri
Sunny_sXe [5.5K]

Answer:

Cluster sampling

Explanation:

Cluster sampling is a type of sampling in which a population is divided into groups and one whole group from the division is randomly with every member of the chosen group  involved.

As in thr question, the phone number listings have been divided into groups of 400 and her name came up in the first group of the listing divisions to be considered, hence her selection.

Cheers.

6 0
2 years ago
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