Aneko Company reports the following ($000s): net sales of $14,800 for 2017 and $13,990 for 2016; end-of-year
Question:
Aneko Company reports the following ($000s): net sales of $14,800 for 2017 and $13,990 for 2016; end-of-year total assets of $19,100 for 2017 and $17,900 for 2016. Compute its total asset turnover for 2017, and assess its level if competitors average a total asset turnover of 2.0 times.
Asset TurnoverAsset 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.
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Interpretation The Companys turnover of 080 time...View the full answer
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Related Book For 
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
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