Refined Water Services had net income for the month of October of $74,000. Assets as of the beginning and end of the month totaled $350,000, and $390,000, respectively. Calculate Refined Water Services' return on assets (ROA) for the month of October.
Answer to relevant QuestionsFor each of the users of accounting information, identify whether the user is an external decision maker (E) or an internal decision maker (I): a. Customer b. Company manager c. Internal Revenue Service d. Lender e. ...As the manager of a Papa Sean's restaurant, you must deal with a variety of business transactions. Give an example of a transaction that has each of the following effects on the accounting equation: a. Increase one asset and ...The account balances of Wilford Towing Service at June 30, 2016, follow Equipment ........... $ 17,500 Office Supplies ........... 1,300 Notes Payable ........... 6,900 Rent Expense ........... ...Cameron Turnbull started a new business, Turnbull Gymnastics, and completed the following transactions during December: Dec. 1 Cameron contributed $21,000 cash in exchange for common stock. 2 Received $2,400 cash from ...Precision Pics works weddings and prom-type parties. The balance of Retained Earnings was $26,000 at December 31, 2015. At December 31, 2016, the business's accounting records show these balances: Insurance Expense ...... $ ...
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