Mone Study Tools-ACC-211 Take a Test-Ashley Sparks X X Student/PlayerTest.aspxte

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Mone Study Tools-ACC-211 Take a Test-Ashley Sparks X X Student/PlayerTest.aspxtestld187902987 Financial Accounting Online Test: CH 1-4 This Question: 1 pt 3 of 20 Alpha Appliance Service had net income for the year of $42,000. In addition, the balance sheet reports the following balances EEB (Click the icon to iew the balances) Calculate the retun on assets (ROA) for Alpha Appliance Service the year ending December 31, 2018 Net incomeerage totl asetsROA Data Tabie 42000 Jan 1, 2018 Dec 31, 2018 Notes Payable Cash Office Fumiture Buildng Accounts Payable Total Stockholders Equity Accounts Receivable Equipment Office Supplies S 34,000 8,000 24,000 145,000 3,000 190,000 1,200 25,000 3,800 46,000 100,800 55,000 145.000 12,000 305,000 19,600 2.600 Print Done Choose trom any ist or enter any number in the input felds and then continue to the nest question Save for Later ype here to search

Explanation / Answer

total assets on Jan 1, 2018=38000+24000+145000+1200+25000+3800=237000

total assets on Dec 31, 2018=100800+55000+145000+19600+40000+2600=363000

average total assets=(237000+363000)/2=300000

ROA %=42000/300000=14.00%

the above is answer..

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