Calculate the return on assets

Assignment Help Financial Accounting
Reference no: EM133096983

Question 1 - WalkerCo reported cost of goods sold of $1,420. Inventory at the beginning of the year was $333 and at the end of the year $373. The LIFO reserve at the beginning of the year was $218 and at the end of the year $192. Calculate the days' sales in inventory after including the adjustment for LIFO.

QUESTION 2 - In its financial statements KRJ reported (in $ thousands) net income of $200 and an effective tax rate of 30%. Total assets at the beginning of the year was $3,095 and at the end of the year $3,931. The LIFO reserve at the beginning of the year was $285 and at the end of the year $313. Calculate the return on assets after including the adjustment for LIFO.

Reference no: EM133096983

Questions Cloud

Different things to solve poverty : We have tried lots of different things to "solve" poverty. From the programs of the New Deal down to Johnson's "War on Poverty," poverty is a perennial problem.
Determine the cost of goods sold : Keeton Company had the following data: Cost of materials used $60,000 and Work in process inventory, beginning 29,000. Determine the cost of goods sold
Determine the dividends per share on each class of stock : During its first four years of operations, the following amounts were distributed as dividends: first year, $30,000; Determine the dividends per share
Effectiveness during the various phases of incident : What steps can they take before, during, and after an incident to increase efficiency and effectiveness during the various phases of an incident?
Calculate the return on assets : The LIFO reserve at the beginning of the year was $285 and at the end of the year $313. Calculate the return on assets after including the adjustment for LIFO
What is the net present value of the proposed mining project : The mineral deposit would be exhausted after four years of mining. What is the net present value of the proposed mining project
Interest group liberalism : Explain how certain features or assumptions of interest group liberalism impact (or may impact) debate about the public policy you are exploring.
How much of these expenditures does the company have : The repainting neither extends the life of factory and offices nor improves their usability. How much of these expenditures does the company have
What are the latitude and longitude coordinates of SW : What is the publication date of the USGS Valley Head topographic map and What are the latitude and longitude coordinates of the NW corner of the Valley Head map

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd