« previous next »

Author Question: Henderson's Appliance Store had net income of 202,000 this year with owner's equity of 325,000. What ... (Read 64 times)

misspop

  • Hero Member
  • *****
  • Posts: 540
on: Jun 24, 2018
Henderson's Appliance Store had net income of 202,000 this year with owner's equity of 325,000. What is the return on investment for the year?

Question 2

Burke's Office Supply has cash assets of 82,000 and accounts receivable of 94,000. Their accounts payable total 55,000. What is the acid test ratio?


aburgess

  • Sr. Member
  • ****
  • Posts: 361
Reply #1 on: Jun 24, 2018
Answer to Question 1

62.2;
202,000  325,000 = 0.6215 = 62.2

Answer to Question 2

3.2:1;
(82,000 + 94,000 )  55,000 = 176,000  55,000 = 3.2
The acid test ratio is 3.2:1.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

20,000 year old Arctic ground squirrel mummy 20,000 year old Arctic ground squirrel mummy
Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe
Race-Ethnicity and Income Extremes Race-Ethnicity and Income Extremes
Foods for Baby’s First Year Foods for Baby’s First Year
Research that has examined babies' ability to recognize themselves develops in the 2 year Research that has examined babies' ability to recognize themselves develops in the 2 year
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
Video: Embryonic development - Weeks 5 to 8

For a complete list of videos, visit our video library