Return on Assets: Return on assets is a financial ratio which shows the percentage of income the entity is earning against its all resources employed in the business. And it is also known as net income divide by average of total assets. We can get the net income from the income statement and total assets from the beginning and ending balance sheet . Return on Assets = Net Income / Average Assets To Calculate: Return of assets for the month of October.

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Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 1, Problem S1.16SE

To determine

Concept Introduction:

Return on Assets:

Return on assets is a financial ratio which shows the percentage of income the entity is earning against its all resources employed in the business. And it is also known as net income divide by average of total assets. We can get the net income from the income statement and total assets from the beginning and ending balance sheet.

Return on Assets = Net Income / Average Assets

To Calculate:

Return of assets for the month of October.

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Evergreen Corporation (calendar-year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.) Date Placed in Asset Machinery Service October 25 Original Basis $ 120,000 Computer equipment February 3 47,500 Used delivery truck* August 17 Furniture April 22 60,500 212,500 The delivery truck is not a luxury automobile. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. a. What is the allowable depreciation on Evergreen's property in the current year, assuming Evergreen does not elect §179 expense and elects out of bonus depreciation? Depreciation $ 69,096

what is the question answer ? general accounting question

Answer 2

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Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 1, Problem S1.16SE

To determine

Concept Introduction:

Return on Assets:

Return on assets is a financial ratio which shows the percentage of income the entity is earning against its all resources employed in the business. And it is also known as net income divide by average of total assets. We can get the net income from the income statement and total assets from the beginning and ending balance sheet.

Return on Assets = Net Income / Average Assets

To Calculate:

Return of assets for the month of October.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 1, Problem S1.16SE

To determine

Concept Introduction:

Return on Assets:

Return on assets is a financial ratio which shows the percentage of income the entity is earning against its all resources employed in the business. And it is also known as net income divide by average of total assets. We can get the net income from the income statement and total assets from the beginning and ending balance sheet.

Return on Assets = Net Income / Average Assets

To Calculate:

Return of assets for the month of October.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 1, Problem S1.16SE

To determine