The following information is provided for Carla Vista Co. and Flint Corporation. What is Carla Vista's return on assets...
The following information is provided for Carla Vista Co. and Flint Corporation.
What is Carla Vista's return on assets for 2017?
130.0%
13.6%
13.0%
12.5%
|
(in $ millions) |
Carla Vista Co. |
Flint Corporation |
|---|---|---|
|
Net income 2017 |
$145 |
$360 |
|
Net sales 2017 |
1230 |
4700 |
|
Total assets 12/31/15 |
1075 |
2240 |
|
Total assets 12/31/16 |
1070 |
3070 |
|
Total assets 12/31/17 |
1160 |
4000 |
Homework Answers
Return on assets = Net income/Average total assets
= 145/[(1070+1160)/2]
= 145/1115
= 13.0%
Option C is the answer
Add Answer to:
The following information is provided for Carla Vista Co. and Flint Corporation. What is Carla Vista's return on assets...
Carla Vista Company has provided information on intangible assets as follows. A patent was purchased from...
Carla Vista Company has provided information on intangible
assets as follows.
A patent was purchased from Tamarisk Company for $1,650,000 on
January 1, 2019. Carla Vista estimated the remaining useful life of
the patent to be 10 years. The patent was carried in Tamarisk’s
accounting records at a net book value of $1,650,000 when Tamarisk
sold it to Carla Vista.
During 2020, a franchise was purchased from Flint Company for
$500,000. In addition, 5% of revenue from the franchise must...
Carla Vista Company has provided information on intangible assets as follows. A patent was purchased from...
Carla Vista Company has provided information on intangible
assets as follows.
A patent was purchased from Tamarisk Company for $1,650,000 on
January 1, 2019. Carla Vista estimated the remaining useful life of
the patent to be 10 years. The patent was carried in Tamarisk’s
accounting records at a net book value of $1,650,000 when Tamarisk
sold it to Carla Vista.
During 2020, a franchise was purchased from Flint Company for
$500,000. In addition, 5% of revenue from the franchise must...
The comparative statements of Carla Vista Co. are presented here. CARLA VISTA CO. Income Statements For...
The comparative statements of Carla Vista Co. are presented here. CARLA VISTA CO. Income Statements For the Years Ended December 31 2017 2016 Net sales $1,898,540 $1,758,500 Cost of goods sold 1,066,540 1,014,000 Gross profit 832,000 744,500 Selling and administrative expenses 508,000 324,000 487,000 257,500 Income from operations Other expenses and losses Interest expense 23,700 21,700 Income before income taxes Income tax expense 300,300 93,700 $ 206,600 235,800 74,700 $ 161,100 Net income CARLA VISTA CO. Balance Sheets December 31...
View Policies Current Attempt in Progress These financial statement items are for Carla Vista Co. at...
View Policies Current Attempt in Progress These financial statement items are for Carla Vista Co. at year-end, July 31, 2022 Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2025) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) $3,800 59,200 16,900 17,860 3,600 67,800 9,800 3,000 16,000 34,140 11,000 7,400 4,000 4,000 35,700 Prepare an income statement for the year....
Carla Vista Co.'s trial balance reflected the following account balances at December 31, 2017: Accounts receivable...
Carla Vista Co.'s trial balance reflected the following account balances at December 31, 2017: Accounts receivable (net) $36000 Trading securities 11500 Accumulated depreciation on equipment and furniture 31500 Cash 30500 Inventory 61000 Equipment 51000 Patent 7300 Prepaid expenses 3800 Land held for future business site 35500 In Carla Vista’s December 31, 2017 balance sheet, the current assets total is
Carla Vista Co. provides you with the following balance sheet information as of December 31, 2022.
Carla Vista Co. provides you with the following balance sheet information as of December 31, 2022.Current assets$13,570Current liabilities$14,160Long-term assets31,270Long-term liabilities16,520 Total assets$44,840Stockholders’ equity14,160 Total liabilities and stockholders’ equity$44,840In addition, Carla Vista reported net income for 2022 of $18,880, income tax expense of $3,776, and interest expense of $1,534.Compute the current ratio and working capital for Carla Vista for 2022. (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses...
Problem 13-02A (Video) The comparative statements of Carla Vista Co. are presented here: Carla Vista Co....
Problem 13-02A (Video) The comparative statements of Carla Vista Co. are presented here: Carla Vista Co. Income Statements For the Years Ended December 31 2020 Net sales $1,897,540 Cost of goods sold 1,065,540 Gross profit 832,000 Selling and administrative expenses 507,000 Income from operations 325,000 Other expenses and losses Interest expense 24,000 Income before income taxes 301,000 Income tax expense 94,000 Net income $207,000 2019 $1,757,500 1,013,000 744,500 486,000 258,500 22,000 236,500 75,000 $161,500 2020 2019 Carla Vista Co. Balance...
Complete the balance sheet of Carla Vista Corporation. (Round answers to the nearest whole dollar, e.g....
Complete the balance sheet of Carla Vista Corporation.
(Round answers to the nearest whole dollar, e.g. 125.
Use 365 days for calculation.)
Excel Template
(Note: This template includes the problem statement as it
appears in your textbook. The problem assigned to you here may have
different values. When using this template, copy the problem
statement from this screen for easy reference to the values you’ve
been given here, and be sure to update any values that may have
been pre-entered...
On January 1, 2017, Carla Vista Company leased equipment to Flynn Corporation. The following information pertains...
On January 1, 2017, Carla Vista Company leased equipment to Flynn Corporation. The following information pertains to this lease: 1. The term of the non-cancelable lease is 6 years. At the end of the lease term, Flynn has the option to purchase the equipment for $3,000, while the expected residual value at the end of the lease is $8,000. 2 Equal rental payments are due on January 1 of each year, beginning in 2017 3. The fair value of the...
Presented below are data for Carla Vista Co. 2020 2021 Assets, January 1 $4220 $5100 Liabilities,...
Presented below are data for Carla Vista Co.
2020
2021
Assets, January 1
$4220
$5100
Liabilities, January 1
2530
?
Stockholders' Equity, Jan. 1
?
?
Dividends
857
649
Common Stock
776
678
Stockholders' Equity, Dec. 31
?
?
Net Income
847
665
Stockholders' Equity at January 1, 2020 is
$2466.
$1454.
$1041.
$1690.
Carla Vista Company has provided information on intangible
assets as follows.
A patent was purchased from Tamarisk Company for $1,650,000 on
January 1, 2019. Carla Vista estimated the remaining useful life of
the patent to be 10 years. The patent was carried in Tamarisk’s
accounting records at a net book value of $1,650,000 when Tamarisk
sold it to Carla Vista.
During 2020, a franchise was purchased from Flint Company for
$500,000. In addition, 5% of revenue from the franchise must...
Carla Vista Company has provided information on intangible
assets as follows.
A patent was purchased from Tamarisk Company for $1,650,000 on
January 1, 2019. Carla Vista estimated the remaining useful life of
the patent to be 10 years. The patent was carried in Tamarisk’s
accounting records at a net book value of $1,650,000 when Tamarisk
sold it to Carla Vista.
During 2020, a franchise was purchased from Flint Company for
$500,000. In addition, 5% of revenue from the franchise must...
The comparative statements of Carla Vista Co. are presented here. CARLA VISTA CO. Income Statements For the Years Ended December 31 2017 2016 Net sales $1,898,540 $1,758,500 Cost of goods sold 1,066,540 1,014,000 Gross profit 832,000 744,500 Selling and administrative expenses 508,000 324,000 487,000 257,500 Income from operations Other expenses and losses Interest expense 23,700 21,700 Income before income taxes Income tax expense 300,300 93,700 $ 206,600 235,800 74,700 $ 161,100 Net income CARLA VISTA CO. Balance Sheets December 31...
View Policies Current Attempt in Progress These financial statement items are for Carla Vista Co. at year-end, July 31, 2022 Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2025) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) $3,800 59,200 16,900 17,860 3,600 67,800 9,800 3,000 16,000 34,140 11,000 7,400 4,000 4,000 35,700 Prepare an income statement for the year....
Carla Vista Co. provides you with the following balance sheet information as of December 31, 2022.Current assets$13,570Current liabilities$14,160Long-term assets31,270Long-term liabilities16,520 Total assets$44,840Stockholders’ equity14,160 Total liabilities and stockholders’ equity$44,840In addition, Carla Vista reported net income for 2022 of $18,880, income tax expense of $3,776, and interest expense of $1,534.Compute the current ratio and working capital for Carla Vista for 2022. (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses...
Problem 13-02A (Video) The comparative statements of Carla Vista Co. are presented here: Carla Vista Co. Income Statements For the Years Ended December 31 2020 Net sales $1,897,540 Cost of goods sold 1,065,540 Gross profit 832,000 Selling and administrative expenses 507,000 Income from operations 325,000 Other expenses and losses Interest expense 24,000 Income before income taxes 301,000 Income tax expense 94,000 Net income $207,000 2019 $1,757,500 1,013,000 744,500 486,000 258,500 22,000 236,500 75,000 $161,500 2020 2019 Carla Vista Co. Balance...
Complete the balance sheet of Carla Vista Corporation.
(Round answers to the nearest whole dollar, e.g. 125.
Use 365 days for calculation.)
Excel Template
(Note: This template includes the problem statement as it
appears in your textbook. The problem assigned to you here may have
different values. When using this template, copy the problem
statement from this screen for easy reference to the values you’ve
been given here, and be sure to update any values that may have
been pre-entered...
On January 1, 2017, Carla Vista Company leased equipment to Flynn Corporation. The following information pertains to this lease: 1. The term of the non-cancelable lease is 6 years. At the end of the lease term, Flynn has the option to purchase the equipment for $3,000, while the expected residual value at the end of the lease is $8,000. 2 Equal rental payments are due on January 1 of each year, beginning in 2017 3. The fair value of the...
Presented below are data for Carla Vista Co.
2020
2021
Assets, January 1
$4220
$5100
Liabilities, January 1
2530
?
Stockholders' Equity, Jan. 1
?
?
Dividends
857
649
Common Stock
776
678
Stockholders' Equity, Dec. 31
?
?
Net Income
847
665
Stockholders' Equity at January 1, 2020 is
$2466.
$1454.
$1041.
$1690.
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