Answered: Jones Company had net income of $10,000…

Jones Company had net income of $10,000 for the year. Beginning total assets were $150,000 and ending assets were $200,000. What is Jones Company's return on assets (ROA) for the year?

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

Jones Company had net income of $10,000 for the year.
Beginning total assets were $150,000 and ending assets were
$200,000.
What is Jones Company's return on assets (ROA) for the year?

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