Need answer the financial accounting question Matured Water Services had a net income for themonth of October of $50,880. Assets as of thebeginning and end of the month totaled $362,000,and $486,000, respectively.Calculate Matured Water Services' ROA for the monthof October.

Step 1: Define Return on AssetCalculation of return on investment involves dividing the net income…

Answered: Matured Water Services had a net income…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 12EB: Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the...

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Matured Water Services had a 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.