The following information pertains to Newman Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit.
What is the rate earned on total assets for this company?
A) 8.1%
B) 6.8%
C) 10.5%
D) 16.1%

Question

The following information pertains to Newman Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit.    
What is the rate earned on total assets for this company?
A) 8.1% 
B) 6.8% 
C) 10.5% 
D) 16.1%

Quizplus · Accepted Answer

The Answer of The following information pertains to Newman Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit.    
What is the rate earned on total assets for this company?
A) 8.1% 
B) 6.8% 
C) 10.5% 
D) 16.1%

The Following Information Pertains to Newman Company