Calculating ROA Matured Water Services had net income for the month of October of $50,880. Assets as of the beginning and end of the month totaled $362,000, and $486,000, respectively. Calculate Matured Water Services' ROA for the month of October
ROA equals 12%.
Return on assets (ROA)measures the business's profitability by utilizing the total assets of the business.
ROA is calculated as follows:
Thus, the return on assets is 12%.
Centerpiece Arrangements has just completed operations for the year ended December 31, 2018. This is the third year of operations for the company. The following data have been assembled for the business: Insurance Expense $ 4,500 Salaries Expense $ 46,000 Service Revenue 70,000 Accounts Payable 17,600 Utilities Expense 1,400 Office Supplies 1,700 Rent Expense 16,000 Dividends 4,800 Common Stock 9,000 Accounts Receivable 8,000 Cash 7,200 Equipment 12,100 Retained Earnings, January 1, 2018 5,100
Preparing the income statement Prepare the income statement of Centerpiece Arrangements for the year ended December 31, 2018.
Match each example with a component of a computerized accounting information system. Components may be used more than once.
|1. Server||a. Source documents and input devices|
|2. Bank checks||b. Processing and storage|
|3. Reports||c. Outputs|
|6. Financial statement|
|7. Bar code scanner|
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