Financial statement data for years ending December 31 for Winnett Company are shown below. a. Determine the
Question:
a. Determine the fixed asset turnover ratio for 2012 and 2011.
b. Does the change in the fixed asset turnover ratio from 2011 to 2012 indicate a favorable or an unfavorabletrend?
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
Transcribed Image Text:
2012 2011 Net sales Fixed assets: $3,572,000 $3,526,000 Beginning of year End of year 900,000 980,000 820,000 900,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
a Fixed Asset Turnover 2012 2011 Net sales 3572000 3526000 Fixed assets Beginning o...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Financial statement data for years ending December 31 for Latchkey Company follows: a. Determine the ratio of sales to assets for 2016 and 2015. b. Does the change in the ratio of sales to assets...
-
Financial statement data for years ending December 31 for Edison Company follows: a. Determine the ratio of sales to assets for 2016 and 2015. b. Does the change in the ratio of sales to assets from...
-
The following financial statement data for years ending December 31 for Foodworks Company are shown below.a. Determine the ratio of net sales to assets for 2012 and 2011.b. Does the change in the...
-
A solid conducting cylinder of radius 0.1 m and mass of 4 kg rests on horizontal conducting rails (Figure). The rails, separated by a distance a?= 0.4 m, have a rough surface so the cylinder rolls...
-
On May 14, 2008, General Motors paid a dividend of $0.25 per share. During the same quarter GM lost a staggering $15.5 billion or $27.33 per share. Seven months later the company asked for billions...
-
The approximate volume of the granite monolith knows as El Capitan in Yosemite National Park (Fig. 10-48) is about 108 m3. What is its approximate mass?
-
Once a salesperson sees one or more buying signals from a prospect, he or she should trial close. What happens if the prospect doesnt close at that point? Why is this outcome actually favorable for...
-
Suppose GNC, a vitamin and supplement supplier, would like to investigate the relationship between the size of an order and the age of the customer who ordered it. This information could allow GNC to...
-
Select TWO high-contact service firms. They can be in the same industry. Visit the stores and pretend to be a customer. Observe the behaviour and engage the service staff. Engage and communicate in...
-
Byers Company presents the following condensed income statement for 2019 and condensed December 31, 2019, balance sheet: Income Statement Sales (net) $267,000 Less: Cost of goods sold $160,000...
-
On December 31, it was estimated that goodwill of $1,200,000 was impaired. In addition, a patent with an estimated useful economic life of 12 years was acquired for $288,000 on April 1. a. Journalize...
-
Financial statement data for years ending December 31 for Fallon Company are shown below. a. Determine the fixed asset turnover ratio for 2012 and 2011. b. Does the change in the fixed asset turnover...
-
Read the referenced article that fully describes the OR study summarized in the application vignette presented in Sec. 17.9. Briefly describe how queueing theory was applied in this study. Then list...
-
Enron and WorldCom in 2001 (Accounting Frauds) are good examples of opportunity cost. ii. Minimizing operational costs cannot be a corporate goal. ili. Maximizing firm value is typically the top...
-
If The next two questions relate to this information: The population of Washington state in 2012 was estimated to be 6.9 million, increased from the 2011 population estimate of 6.8 million people....
-
Can you explain if it is possible for production and accounting to manage the generic product pilot project? What type of costing system would this be called? Explain what this costing system means....
-
Data on cost objects and cost drivers must be: Question 9 options: Accurate and comprehensive. Comprehensive and efficient. Clean and consistent. Clean and understandable. Consistent and accurate.
-
Benjamin DeCosta, CFA has gathered selected year-end balance sheet information (all amounts in millions) for Palantir Technologies (PLTR): Total assets $11,050 Total liabilities $9,500 Preferred...
-
What are the disadvantages in a situation where an organization chooses to share negative information at the very last moment possible?
-
Illini Company, Inc. Balance Sheet as of 12/31/20X0 Assets Current Assets: Cash $1,500,000 Accounts receivable, net 18,000 Inventory 50,000 Total current assets 1,568,000 Equipment 90,000 Goodwill...
-
A major hospital system in a medium-sized southern city conducted a comprehensive community health needs assessment in compliance with the ACA. In conducting the assessment, the analysts discovered...
-
The September 1, 2009, edition of CFO.com contains an article by Marie Leone and Tim Reason entitled Dirty Secrets. You can access this article at www.cfo.com/article.cfm/ 14292477?f=singlepage....
-
The September 1, 2009, edition of CFO.com contains an article by Marie Leone and Tim Reason entitled Dirty Secrets. You can access this article at www.cfo.com/article.cfm/ 14292477?f=singlepage....
-
Hechinger Co. and Home Depot are two home improvement retailers. Compared to Hechinger, founded in the early 1900s, Home Depot is a relative newcomer. But, in recent years, while Home Depot was...
-
Q1: what is the net operating income under the variable and absorption cost system. A: ACER company Product sales: 1,000 units at $10 each Variable manufacturing costs: $5.50 per unit Fixed...
-
Solve for 2 and graph the solution on the number line below. 245x+9 or 5x +9 69
-
Places and people differ. The Japanese tend to be very polite, the Australians characteristically blunt. Red means danger or stop to the British, but in Turkey it signifies death, and in China, good...
Study smarter with the SolutionInn App