Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. alurve appliance service had net income for the ye

Alurve Appliance Service had net income for the year of $27,000. In addition, the balance...

90.2K

Verified Solution

Question

Accounting

image
image
Alurve Appliance Service had net income for the year of $27,000. In addition, the balance sheet reports the following balances: (Click the icon to view the balances.) Calculate the return on assets for Alurve Appliance Service for the year ending December 31, 2018. Average total assets Average total liabilities ROA % urve Appliance Servid - X i Data Table Average total liabilitie Notes Payable Cash Office Furniture Building Accounts Payable Total Owner's Equity Accounts Receivable Equipment Office Supplies Jan 1, 2018 Dec 31, 2018 $ 30,000 $ 71,000 40,000 151,800 22,000 42,000 125,000 125,000 10,000 11,500 179,800 297,700 1,200 19,000 26,000 40,000 5,600 2,400 Print Done

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students