Use attachment to answer the following Assume all assets are operating assets; all current liabilities are operating liabilities.Return on net operating assets for 2006 is: a) 11.30%b) 11.03%c) 9.93%d) 11.19 Current assetsLong-term assetsCurrent liabilitiesLong-term debtCommon equityOperating incomeInterest expenseTax expense (40%)Net income20062005$4,650 $4,7307,1206,4501,4401,3403,8303,7606,500 6,0802,1402407601,140

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Description: Use attachment to answer the following Assume all assets are operating assets; all current liabilities are operating liabilities.Return on net operating assets for 2006 is: a) 11.30%b) 11.03%c) 9.93%d) 11.19 Current assetsLong-term assetsCurrent liab

Formukla used: Return on net operating assets=Net incomeNet operating assets×100

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Use attachment to answer the following Assume all assets are operating assets; all current liabilities are operating liabilities. Return on net operating assets for 2006 is: a) 11.30% b) 11.03% c) 9.93% d) 11.19

Use attachment to answer the following Assume all assets are operating assets; all current liabilities are operating liabilities. Return on net operating assets for 2006 is: a) 11.30% b) 11.03% c) 9.93% d) 11.19

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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Concept explainers

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

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Question

Use attachment to answer the following

Assume all assets are operating assets; all current liabilities are operating liabilities.

Return on net operating assets for 2006 is:

a) 11.30%

b) 11.03%

c) 9.93%

d) 11.19

Current assets
Long-term assets
Current liabilities
Long-term debt
Common equity
Operating income
Interest expense
Tax expense (40%)
Net income
2006
2005
$4,650 $4,730
7,120
6,450
1,440
1,340
3,830
3,760
6,500 6,080
2,140
240
760
1,140

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