Comparative figures for Apple and Google follow. Required 1. Compute total asset turnover for the most recent

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Comparative figures for Apple and Google follow.

Comparative figures for Apple and Google follow.
Required
1. Compute total asset


Required

1. Compute total asset turnover for the most recent two years for Apple and Google using the data shown.

2. Which company is more efficient in generating net sales given the total assets it employs? Assume an industry average of 1.0 for asset turnover.

Asset Turnover
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.
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Fundamental Accounting Principles

ISBN: 978-0077862275

22nd edition

Authors: John Wild, Ken Shaw, Barbara Chiappetta

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