A company reports the following: Sales ....................................... $6,480,000 Average total assets ............... 2,400,000 Determine the asset turnover
Question:
A company reports the following:
Sales ....................................... $6,480,000
Average total assets ............... 2,400,000
Determine the asset turnover ratio. Round to one decimal place.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (6 reviews)
Asset turnover ...View the full answer
Answered By
Kamalakar Kapase
I am an Assistant Professor of commerce at B.Y.K College, College Rd, Nashik, Maharashtra 422005. My highest qualification is SET. I have completed my masters in advance accounting & taxation. Recently I have completed my diploma in taxation law. Currently I am pursuing PHD in business Administration.
I am in this profession of teaching from last 3 years. Every time whenever I am going to teach a class as a part of this noble profession .....I am learning also. I am trying consistently ....how to represent, interpret, summarize and rethink about the whole concept I wish to teach or rather inspire my students in a specific period of time assigned to me.
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
Question Posted:
Students also viewed these Business questions
-
A company reports the following information from its financial statements: Required Conduct horizontal and vertical analyses of inventory for the current year. Round percentages to one decimal point...
-
A company reports the following for accounts receivable: Required For each year, determine the company's total or gross accounts receivable, net realizable value of accounts receivable, and allowance...
-
A company reports the following operating cash flows on its statement of cash flows (in millions): Required Identify whether the following account balances increased or decreased during the year: (a)...
-
Ask survey subjects to estimate the length of 1 minute without looking at a watch or clock. Each subject should say go at the beginning of the minute and then stop when he or she thinks that 1 minute...
-
In each of the following pairs of goods, identify the one which you would expect to have a greater price elasticity of demand. Briefly explain your answers. a) Butter versus eggs b) Trips by your...
-
In Pennsylvanias Cash 5 lottery, balls are numbered 1 to 43. Five balls are selected randomly, without replacement. The order in which the balls are selected does not matter. To win, your numbers...
-
True or False: If \(E R R>M A R R\), then MIRR \(>\) MARR.
-
Aimes Corporation's balance sheet at December 31, 2016, is presented below. During 2017, the following transactions occurred. Aimes uses a perpetual inventory system. 1. Aimes paid $2,500 interest on...
-
Let ACR be closed and BCR" be compact. Show that the sum set C = A + B = {cR": = a+b for some A, B} is closed. Is it necessarily true that C is compact?
-
IAS36 Impairment of Assets was issued in June 1998 and subsequently revised in March 2004 and January 2008. Its main objective is to prescribe the procedures that should ensure that an entity's...
-
Recent balance sheet information for two companies in the food industry, Mondelez International, Inc. and The Hershey Company, is as follows (in thousands): a. Determine the ratio of liabilities to...
-
Hasbro, Inc. and Mattel, Inc. are the two largest toy companies in North America. Condensed liabilities and stockholders equity from a recent balance sheet are shown for each company as follows (in...
-
Consider the E-R diagram in Figure 8-15b. a. What would be the identifier for the CERTIFICATE associative entity if Certificate Number were not included? b. Now assume that the same employee may take...
-
One would expect the real return on 10-year TIPS to be constant over time because there is no credit risk in the bond. Why?
-
A company purchases LED light bulb manufacturing equipment for $625,000. The manufacturing equipment has a production rate of 2050 light bulbs per shift. The light bulb manufacturing equipment has an...
-
2. Create a Java program (Greatest) that will allow the user to enter series of positive integers until the user enters a value of -999. The program will then output an appropriate message stating...
-
Brandon (56) and Diane (54) are married and file a joint tax return. Brandon has self-only coverage in a high-deductible health plan (HDHP) through his employer. Diane has family coverage in an HDHP...
-
You invested $50,000 to start a corporation, but things haven't gone as planned. After two years of no profits, you have to shut the doors. The business owes creditors $75,000 for bills you haven't...
-
What is the structure of the alkyne that gives each of the following sets of products upon ozonolysis followed by hydrolysis? a. b. COOH + 2
-
Critical reading SAT scores are distributed as N(500, 100). a. Find the SAT score at the 75th percentile. b. Find the SAT score at the 25th percentile. c. Find the interquartile range for SAT scores....
-
Explain how the conversion feature of convertible debt has a value (a) To the issuer and (b) To the purchaser.
-
Explain how the conversion feature of convertible debt has a value (a) To the issuer and (b) To the purchaser.
-
Explain how the conversion feature of convertible debt has a value (a) To the issuer and (b) To the purchaser.
-
A trebuchet releases a rock with mass m = 50 kg at the point O. The initial velocity of the projectile is vo = (45 + 30 f) m/s. If one were to model the effects of air resistance via a drag force...
-
C6. Karen has the following share portfolio: 200 shares in Gippsland Nurseries Ltd (GNL); 1200 shares in Alpine Bank Ltd (ABL) and 9000 shares in River Lett Ltd (RLL). Their current market prices...
-
32) Joe has $653 at Bank A and $429 at Bank B. He just received a bank statement informing him that for the past year he earned $30 in interest at Bank A and $24 in interest at Bank B. (a) Find the...
Study smarter with the SolutionInn App