The Dennis Company reported net income of $50,000 on sales of $300,000. The company has total assets

Question:

The Dennis Company reported net income of $50,000 on sales of $300,000. The company has total assets of $500,000 and total liabilities of $100,000. What is the company's return on equity ratio? (Points : 2) 10.0% 16.7% 12.5% 50.0%

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Modern Advanced Accounting In Canada

ISBN: 9781259066481

7th Edition

Authors: Hilton Murray, Herauf Darrell

See More Books

Question Posted: Jun 06, 2017 02:49 AM

See More Questions

The Prince Company reported net income of $260,000 for the current year. Depreciation recorded on buildings and equipment amounted to $90,000 for the year. Balances of the current asset and current...
The company reported net income of $220,000 for the year and 100,000 shares of common stock were outstanding during the year. The income tax rate is 40%. The company has the following potentially...
Penn Company owns a 90% interest in Salvador Company and an 80% interest in Sencal Company. Profit remaining in ending inventories from intercompany sales for 2011 and 2012 is indicated below....
The cylinder in the figure has a radius of 2 ft and rolls without slipping on the horizontal surface. The bar AB is attached to the periphery of the cylinder by a pin at point A. The other end of the...
Bobbys has delivery equipment that cost $40,000 and that has been depreciated $26,000. Record the disposal under the following assumptions. (a) It was scrapped as having no value. (b) It was sold for...
Modern Machine Shop (MMS) Inc. manufactures special moulds that are used in the production of plastic toys. Below is MMSs trade receivables ledger from October 1 to December 31, 2015: Additional...
Could an include use case have an extend use case? Explain by providing an example.
Llano Lamps has the following revenue and cost functions: Revenue = $ 70 per unit Cost = $ 90,000 + $ 40 per unit a. What is the break-even point in units? b. What is the break-even point in dollars?
Q1. You work at a space agency and are responsible for designing an energy portfolio for setting up a human colony on a celestial body that is X km away from the sun, and Y km away from the earth....
1. What is the cost of debt for Sunrise Bakery? 2. What is their cost of equity? 3. What is the WACC? 4. Which cost of capital should be used to evaluate the feasibility of the oven purchase? 5....
The Russell Company provides the following standard cost data per unit of product: Direct material (3 gallons @ $3 per gallon) $9.00 Direct labor (2 hours @ $12 per hour) 24.00 During the period, the...
If a number of Cafe Mom Members signed a petition asking the company to get rid of the advertising on the site, how should the company respond? Why?
The following is an alphabetical listing of the balance sheet accounts and account balances of the Blazer Company on December 31, 2007: Additional information: 1. The company uses a control account...
Why is accurate and honest time reporting critical?
Why is the bar chart not an adequate planning and scheduling tool?
What is the basic objective of a schedule update, and what does it achieve?
Since the bar chart is ineffective as a planning and scheduling tool, why is it still widely used in the construction industry?
Enumerate the contributions of different other subjects in the development of auditing principles, techniques and procedures.
By the year 2000, General Motors had decentralized primary decision rights for designing cars to vehicle line managers. In earlier years, General Motors had a centralized corporate design group. This...
State whether each of the following will increase or decrease the power of a one-way between-subjects ANOVA. (a) The effect size increases. (b) Mean square error decreases. (c) Mean square between...
Two spherical cavities, of radii a and b, are hollowed out from the interior of a (neutral) conducting sphere of radius R (Fig. 2.49). At the center of each cavity a point charge is placed???call...
Two large metal plates (each of area A) are held a distance d apart. Suppose we put a charge Q on each plate; what is the electrostatic pressure on the plates?
A metal sphere of radius R carries a total,charge Q. What is the force of repulsion between the "northern" hemisphere and the "southern" hemisphere?
Shawn Inc. proposed to install one Robotic Machine for his new project, an initial investment of CANVAS Technology will be $520,000 and the Robotic will be expected to generate net cash flows of at...
You anticipate the receipt of money in 200 days, which you will use to purchase stocks in a particular company. The stock is currently selling for $51 and will pay a $0.5 dividend in 50 days and...
1) Based on the stock chart for Michaels Companies Inc, what do you think the short and long-term growth potentials are for this company? (discuss the advantages/disadvantages) Link to the stock...

The Dennis Company reported net income of $50,000 on sales of $300,000. The company has total assets

Question:

Step by Step Answer:

The Dennis Company Details Amt Net Inco...View the full answer

Modern Advanced Accounting In Canada

Students also viewed these Cost Accounting questions