Determine John's average monthly investment balance for the year when he; invested $11,500 in a business on January 1, withdrew $700 on March 1, reinvested $1800 on August 1, and withdrew $500 on September 1.
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- Yogi has the following financial data: Investment assets at year end Investment assets at beginning of the year Savings made during the year by Yogi Employer match to Yogi's 401(k) plan Total assets on ending statement of financial position Gross income on income statement Total assets on beginning statement of financial position Total liabilities at beginning of year Total liabilities at year end What is Yogi's ROI for the year? O 13.01% O 18.37% 15.56% 4 21.17% $475.000 $392,000 $27,000 $5,000 $700.000 $100,000 $600,000 $200.000 $180,000Follow up question. Anwser D E F d. Calculate the net income (or loss) for the year ended December 31, 2022 e. What was the average income tax rate for Gary's TV for 2022? F If $26,000 of dividends had been declared and paid during the year, what was the January 1, 2022, balance of retained earnings?⦁ As a financial planner, based on the following information given by your client. ⦁ Annual Savings to IRA - $5,000 ⦁ Investment Balance (beginning of the year) - $70,000 ⦁ Net Worth (beginning of the year) - $800,000⦁ IRA Balance (beginning of the year) - $65,000 ⦁ Investment Balance (end of the year) - $81,300⦁ Net Worth (end of the year) - $970,000 ⦁ IRA Balance (end of the year) - $72,000 Calculate the following ratios, and comment on if they are within the normal range.a. The return on investments ratio =?b. The return on the IRA ratio =? c. The return on net worth ratio =?
- Farmer Brown paid $200,000 in cash expenses during the year. At the beginning of the year, there was $5,000 worth of seed on hand. At the end of the year, there was $10,000 worth of seed on hand. What would be the accrual adjustment on the income statement? Round your answer to the nearest dollar.Using the following account balances, calculate for the two years presented: A. working capital B. current ratioThe following historical information is from Assisi Community Markets. Calculate the working capital and current ratio for each year. What observations do you make, and what actions might the owner consider taking?
- Alex is currently considering to invest his money in one of the companies betweenCompany A and Company B. The summarized final accounts of the companies for theirlast completed financial year are as follows: (please refer to the images) Required:a. Calculate the following ratios for Company A and Company B. State clearly theformulae used for each ratio:iv. Receivables Collection Period (days)v. Payables Payment Period (days)vi. Current Ratiovii. Quick Ratio + Comment on each of the ratios calculated in part (a) above.Use the following information for Problems 30 and 31. On March 15, Calloway, Inc., paid property taxes of $480,000 for the calendar year. 30. How much of this expense should Calloway’s income statement reflect for the quarter ending March 31? a. –0– b. $40,000 c. $120,000 d. $480,000 31. The journal entry at March 15 to record the payment of property taxes would include which of the following? a. A debit to Property Tax Expense of $480,000 b. A credit to Cash of $120,000 c. A debit to Prepaid Property Taxes of $360,000 d. A credit to Prepaid Property Taxes of $40,000Use the following information for Problems 30 and 31.On March 15, Calloway, Inc., paid property taxes of $480,000 for the calendar year.The journal entry at March 15 to record the payment of property taxes would include which of the following?a. A debit to Property Tax Expense of $480,000.b. A credit to Cash of $120,000.c. A debit to Prepaid Property Taxes of $360,000.d. A credit to Prepaid Property Taxes of $40,000.
- Amy is a sole trader and had assets of $569,400 and liabilities of $412,840 on 1 January During the year ended 31 December 20X8 she paid $65,000 capital into the business and she paid herself wages of $800 per month. At 31 December 20X8, Amy had assets of $614,130 and liabilities of $369,770. Find the profit for the year Decemeber 31 20X8How much is the balance of Investment in Love Company at the end of the current year?1. On December 1, 2018, Grey started his business with a borrowed capital amounting to P 40,000 at a monthly interest rate of 1%. During the month, he spent 5,000 for operating expenses. The remaining balance of the capital was used to buy inventories for resale. At the end of the year, inventory amounts to P 10,000 including the mark up of 60%. How much is the return on capital? 2. During the year, Blue bought a parcel of land amounting to P 600,000 for speculation only. Months have passed, a hospital was constructed adjacent to his land with market value of P 2,600,000. A prospective buyer offered Blue plus 6% capital gains tax as the purchase amount of the property. How much gain should be reported for tax purposes?