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bulgar [2K]
2 years ago
10

Use the information below for 3M Company to answer the requirements (perform these computations from the perspective of a 3M sha

reholder).
($millions) 2015 2014
Sales $31,718
Net income consolidated 5,787
Net income attributable to
3M shareholders 5,779
Assets 33,395 $31,886
Total equity 11,747 13,142
Equity attributable to 3M
shareholders 11,708 13,109
A. Compute return on equity (ROE).
B. Compute the DuPont model component measures for profit margin, asset turnover, and financial leverage.
C. Compute ROA.
Business
1 answer:
amid [387]2 years ago
7 0
Mate what is this. Ok
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Prepare Garzon Company's journal entries to record the following transactions for the current year. January 1 Purchases 9.5% bon
Andre45 [30]

Answer:

Garzon Company

Journal Entries

January 1 Debit 9.5% Bonds Receivable PBS $45,600

Credit Cash $45,600

To record the purchase of bonds in PBS.

June 30 Debit Cash $2,166

Credit Bonds Interest Revenue $2,166

To record the receipt of first semiannual interest.

December 31 Debit Cash $47,766

Credit 9.5% Bonds Receivable $45,600

Credit Bonds Interest Revenue $2,166

To record the receipt of both principal and second semiannual interest.

January 1 Debit 9% Bonds Receivable PBS $52,000

Credit Cash $52,000

To record the purchase of bonds in PBS.

June 30 Debit Cash $2,340

Credit Bonds Interest Revenue $2,340

To record the receipt of first semiannual interest.

December 31 Debit Cash $54,340

Credit 9% Bonds Receivable $52,000

Credit Bonds Interest Revenue $2,340

To record the receipt of both principal and second semiannual interest.

Explanation:

a) Data and Analysis:

January 1 9.5% Bonds Receivable PBS $45,600 Cash $45,600

June 30 Cash $2,166 Bonds Interest Revenue $2,166

December 31 Cash $47,766 9.5% Bonds Receivable $45,600 Bonds Interest Revenue $2,166

January 1 9% Bonds Receivable PBS $52,000 Cash $52,000

June 30 Cash $2,340 Bonds Interest Revenue $2,340

December 31 Cash $54,340 9% Bonds Receivable $52,000 Bonds Interest Revenue $2,340

3 0
2 years ago
Select the examples of layoffs. Check all that apply. India loses her job as an Urban Planner because the city ran out of fundin
eduard

Answer:

Fidel loses his job as an Eligibility Interviewer because Legislators decided to cut his department, even though Fidel was very good at his job.

Explanation:

A layoff refers to the termination of an employment contract due to a shortage of work. Employers initiate layoffs. They may be a temporary suspension of employment or permanent termination.

Layoffs are not a result of an employee's fault or incompetency. They may be caused by declining revenue, some operations' shutdown,  automation of processes, and outsourcing of some services.  

Fidel's case was a layoff. There was no work available for him after his department was shutdown.

8 0
2 years ago
Read 2 more answers
You purchased 1000 shares of stock in Cumberland Software for $3 per share on January 1, 2006. Over the next four years, you rec
Slav-nsk [51]

Answer:

a) Total gross return = 459.3%

b) Average annual return = $4,195

Explanation:

Let's begin by listing out the information given us:

Number of shares = 1000, purchase price = $3 per share,

dividend = 7 cents = $0.07 per share per year,

time = 4 years, sale price = $16.50 per share,

brokerage commission = 4%

Cost of shares purchased = number of shares * purchase price

Cost = 1000 * 3 = 3,000

Cost = $3,000

I purchased shares worth $3,000 on January 1, 2006

Total dividend received = dividend * number of shares * time

Total dividend = 0.07 * 1000 * 4 = $280

Over the course of 4 years, I received $280 in dividend

Price of share sale = number of shares * sale price

Price of share sale = 1000 * 16.50 = $16,500

brokerage commission = 4% of Price of share sale

brokerage commission = 0.04 * 16500 = $660

a) Total gross return = (dividend + price of share sale - cost of shares purchased) ÷ cost of shares purchased

Total gross return = (280 + 16500 - 3000) ÷ 3000

Total gross return = 13780 ÷ 3000 = 4.593

Total gross return = 4.593 * 100%

Total gross return = 459.3%

This means the investment made a profit of over 400% (four times the amount spent in purchasing the shares)

N.B: Total gross return does not include fees and expenses such as brokerage costs

b) Average annual return = Returns during the specified period ÷ time

Returns during the specified period = dividend + price of share sale = 280 + 16500 = $16,780

Average annual return = 16780 ÷ 4 = 4195

Average annual return = $4,195

3 0
2 years ago
Cindy's current year adjusted gross income (AGI) is $300,000 and her current year total tax liability is $60,000. Her immediate
Crazy boy [7]

Answer:

The answer is $44,000

Explanation:

Solution

Given that

Now

Present/current year AGI = $300000

Present /current year tax liability = $60000

Prior year AGI = $200000

Prior year tax liability = $40000

Thus

As per Tax rule or applying the Tax rule

If Adjusted gross income(AGI) of prior year is below $250000 then the minimum required tax payment in the current year in order to avoid interest penalty is lower of

(1) 90% of present /current year tax (liability) or

(2) 110% of prior year tax liability

So

Because the prior year AGI is $200000 which is lower than $250000, in order to avoid interest penalty, the minimum required payment amount of tax liability in current/present year is lower of

(1) 90% of current year tax liability of $60000

Then

$60000 *90% = $54000

Or

(2)110% of prior year tax liability of $40000

$40000 ×110% = $44000

Hence, minimum required total tax payment amount for the current year is $44,000

5 0
2 years ago
A car dealer who sells only late-model luxury cars recently hired a new salesman and believes that this salesman is selling at l
Natasha2012 [34]

Answer:

t=\frac{5000-5600}{\frac{800}{\sqrt{16}}}=-3      

Explanation:

Data given and notation      

\bar X=5000 represent the sample mean      

s=800 represent the standard deviation for the sample      

n=16 sample size      

\mu_o =5600 represent the value that we want to test    

\alpha represent the significance level for the hypothesis test.    

t would represent the statistic (variable of interest)      

p_v represent the p value for the test (variable of interest)  

State the null and alternative hypotheses.      

We need to conduct a hypothesis in order to determine if the mean is lower than 5600, the system of hypothesis would be:      

Null hypothesis:\mu \geq 5600      

Alternative hypothesis:\mu < 5600      

We don't know the population deviation, so for this case is better apply a t test to compare the actual mean to the reference value, and the statistic is given by:      

t=\frac{\bar X-\mu_o}{\frac{s}{\sqrt{n}}} (1)      

t-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".  

Calculate the statistic      

We can replace in formula (1) the info given like this:      

t=\frac{5000-5600}{\frac{800}{\sqrt{16}}}=-3      

4 0
2 years ago
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