Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
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Textbook Question
Chapter 1, Problem 10AP
Determining expenses, liabilities. equity, and return on assets
Kyzera manufactures, markets, and sells cellular telephones. The average total assets for Kyzera is $250,000. In its most recent year, Kvzera reported net income of $65,000 on revenues of $475,000.
Required
- 1. What is Kyzera’s return on assets?
- 2. Does return on assets seem satisfactory for Kyzera given that its competitors average a 12% return on assets?
- 3. What are total expenses for Kyzera in its most recent year?
Chexk (3) $410,000
- 4. What is the average total amount of liabilities plus equity for Kyzera?
(4) $250,000
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Kyzera manufactures, markets, and sells cellular telephones. The average total assets for Kyzera is $250,000. In its most recent year, Kyzera reported net income of $65,000 on revenues of $475,000. Does return on assets seem satisfactory for Kyzera given that its competitors average a 12% return onassets?
Chapter 1 Solutions
Principles of Financial Accounting.
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