Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Rushing had net income of $192 million and average total assets of $1,950 million. Its return on assets (ROA) is. Multiple Choice 10.0% 1020% 9.8%
Rushing had net income of $192 million and average total assets of $1,950 million. Its return on assets (ROA) is. Multiple Choice 10.0% 1020% 9.8% 19.7%. o 98.5% Use the following information as of December 31 to determine equity. Cash Buildings Equipment Liabilities $ 61,000 179,000 210,000 145,000 Multiple Choice $145,000 0 $450,000 O $595,000 $61,000 $305,000 A company's balance sheet shows: cash $50,000, accounts receivable $30,000, office equipment $64,000, and accounts payable $31,000. What is the amount of owner's equity? Multiple Choice $175,000 $31,000 $113,000 $43,000 $144,000 If a company receives $13,500 from the owner to establish a proprietorship, the effect on the accounting equation would be: Multiple Choice Liabilities increase $13,500 and equity decreases $13,500. Assets increase $13,500 and equity increases $13,500. Assets increase $13,500 and liabilities decrease $13,500. Assets decrease $13,500 and equity decreases $13,500. o Assets increase $13,500 and liabilities increase $13,500
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started