Assume that a company has a profit margin of 12.0 percent, an asset turnover of 6.4 times, and a debt to equity ratio of 50 percent. What are the company’s return on assets and return on equity? (Round to one decimal place.)
Answer to relevant QuestionsThe lettered items that follow represent a classification scheme for the concepts of financial accounting. Match each numbered term in the list that follows with the letter of the category in which it belongs.a. Qualitative ...The following amounts are from Shimura Company’s financial statements at the end of the current year: total assets, $426,000; total liabilities, $172,000; owner’s equity, $254,000; net sales, $782,000; cost of goods ...In each case that follows, qualitative characteristics and accounting conventions may have been violated.1. Elite Manufacturing Company uses the cost method for computing the balance sheet amount of inventory unless the ...In what ways does having merchandise inventory impact faithful representation and classification?On April 15, Sanborn Company sold merchandise to Barr Company for $3,000 on terms of 2/10, n/30. Assume a return of merchandise on April 20 of $600 and collection in full on April 25. What is the amount collected by Sanborn ...
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