Alurve Appliance Service had net income for the year of $30,400. 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. Total assets ROA %

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is