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Huntswell Corporation Has Two Major Divisions-Agricultural Products and Industrial Products

question 97

Multiple Choice

Huntswell Corporation has two major divisions-Agricultural Products and Industrial Products. Data for the year just finished is as follows:
 Agriculture Division  Industrial Division  Sales revenue $140,000$1,040,000 Operating income $16,400$220,000 Average assets $300,000$5,540,000 Target rate of return 4.0%4.0%\begin{array}{|l|r|r|} \hline& \text { Agriculture Division } & \text { Industrial Division } \\\hline \text { Sales revenue } & \$ 140,000 & \$ 1,040,000 \\\hline \text { Operating income } & \$ 16,400 & \$ 220,000 \\\hline \text { Average assets } & \$ 300,000 & \$ 5,540,000 \\\hline \text { Target rate of return } & 4.0 \% & 4.0 \% \\\hline\end{array}
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For the Industrial Division, how much was the ROI?

Understand how different transactions impact stockholders' equity.
Know the initial point of entry for accounting transactions.
Grasp the concept of the double-entry accounting system.
Understand how the process of journalizing differs from posting.

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