CLASS 11 COMMERCE Chapter chapter 4: cash and accrual basis of accounting covered
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1 Apr 2023
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Determining Missing Items in Rate of Return and Residual IncomeComputations
Data for Schmidt Company are presented in the following table ofrates of return on investment and residual incomes:
Invested Assets | Income from Operations | Rate of Return on Investment | Minimum Rate ofReturn | MinimumAcceptable Income from Operations | Residual Income | ||||||
$920,000 | $202,400 | (a) | 12% | (b) | (c) | ||||||
$510,000 | (d) | (e) | (f) | $61,200 | $20,400 | ||||||
$280,000 | (g) | 14% | (h) | $30,800 | (i) | ||||||
$210,000 | $39,900 | (j) | 11% | (k) | (l) |
Determine the missing values, identified by the letters above.For all amounts, round to the nearest whole number.
a. | % | ||||||||
b. | $ | ||||||||
c. | $ | ||||||||
d. | $ | ||||||||
e. | % | ||||||||
f. | % | ||||||||
g. | $ | ||||||||
h. | % | ||||||||
i. | $ | ||||||||
j. | % | ||||||||
k. | $ | ||||||||
l. | $ |