AQUA SYSTEMS REPORTS THE FOLLOWING SALES OF $150,000; INFORMATION: BEGINNING ASSETS OF $300,000, ENDING ASSETS OF OF $360,000; NET INCOME $9,000. OF THE RETURN ON ASSETS (TO THE NEAREST WHOLE NUMBER) IS: A. 555% B. 30% c. 3% D. 6%

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter7: Fixed Assets, Natural Resources, And Intangible Assets
Section: Chapter Questions
Problem 7.3.3MBA
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What is the return on assets for this accounting question?

AQUA SYSTEMS REPORTS THE FOLLOWING
SALES OF $150,000;
INFORMATION:
BEGINNING ASSETS OF $300,000, ENDING
ASSETS OF
OF $360,000; NET INCOME
$9,000.
OF
THE RETURN ON ASSETS (TO THE NEAREST
WHOLE NUMBER) IS:
A. 555%
B. 30%
c. 3%
D. 6%
Transcribed Image Text:AQUA SYSTEMS REPORTS THE FOLLOWING SALES OF $150,000; INFORMATION: BEGINNING ASSETS OF $300,000, ENDING ASSETS OF OF $360,000; NET INCOME $9,000. OF THE RETURN ON ASSETS (TO THE NEAREST WHOLE NUMBER) IS: A. 555% B. 30% c. 3% D. 6%
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