KService had het income for the year of $28,000. In addition, the balance sheet reports thefollowing balances:(Click the icon to view the balances.)Calculate the return on assets for Alexia Appliance Service for the year ending December 31, 2024.Etext pagesData tableNotes PayableCashOffice FurnitureBuildingAccounts PayableTotal Owner's EquityAccounts ReceivableEquipmentOffice SuppliesPrintGet more help.+$Jan 1, 202440,000 $30,00024,000180,00013,500214,1003,40025,0005,200Done=Dec 31, 202460,000142,20050,000180,00013,000359,40019,40040,000800ROAX%Clear allCheck answ

Solution Calculated the Return on Assets Ratio of Alexia Applance Service Return on Assets Ratio…

Answered: Calculate the return on assets for…

Business

Accounting

Calculate the return on assets for Alexia Appliance Service for the year ending December 31, 2024.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

K
Service had het income for the year of $28,000. In addition, the balance sheet reports the
following balances:
(Click the icon to view the balances.)
Calculate the return on assets for Alexia Appliance Service for the year ending December 31, 2024.
Etext pages
Data table
Notes Payable
Cash
Office Furniture
Building
Accounts Payable
Total Owner's Equity
Accounts Receivable
Equipment
Office Supplies
Print
Get more help.
+
$
Jan 1, 2024
40,000 $
30,000
24,000
180,000
13,500
214,100
3,400
25,000
5,200
Done
=
Dec 31, 2024
60,000
142,200
50,000
180,000
13,000
359,400
19,400
40,000
800
ROA
X
%
Clear all
Check answ

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