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College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

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2.13.1: Using the data below, compute RETURN ON EQUITY.
Accounts Receivable: $5,000
Advertising Expense: 1,600
Cash: 500
Cost of Goods Sold: 6,000
Inventory: 3,000
Property, ant, and Equipment: 12,000
Research Expense: 2,000
Sales: 20,000
Total Equity: 7,500
Total Liabilities: 13,000
Wage Expense: 10,000
5.3%
2.0%
6.7%
3.1%
18.8%

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