Answered: A company reports the following:Sales…

A company reports the following:Sales $1,800,000Average total assets 1,125,000Determine the asset turnover ratio. Round to one decimal place.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 8BE

See similar textbooks

Related questions

Q: Lake Coffee Company reported net sales of $180,000, net income of $54,000, beginning total assets of…

A: Ratio analysis means that various ratio can be calculated with the given date of the company and…

Q: Liberty Corporation reported beginning and ending total assets of $25,000 and $22,000, respectively.…

A: Asset turnover ratio: Asset turnover ratio measures the productive capacity of the total assets to…

Q: Damietta Furniture Corporation has a net profit margin of 15% and a total asset turnover of 1.7.…

A: Return on assets (ROA) or Return on total assets is one of the profitability ratios which is used to…

Q: Blossom Company reports the following information (in millions) during a recent year: net sales,…

A: Return on assets =Net earnings / Average total assets Where, Average total assets = (total assets,…

Q: Asset turnover A company reports the following: Sales $1,729,350 823,500 Average total assets…

A: Assets Turnover Ratio :— It is the ratio of net sales and average total assets. Average total…

Q: Fixed assets of TBZ Ltd. are $240,000 and the turnover of the company is $900,000. What would be…

A: Analysts typically use the fixed asset turnover ratio (FAT) to assess operating performance. To…

Q: Hangover Pills, Inc. has current assets of $70,000 and net fixed assets of $400,000. Thefirm's sales…

A: Calculation of Total Asset Turnover:The total asset turnover is 3.40.Excel Spreadsheet:

Q: A company had average total assets of $500,000, gross sales of $575,000, and net sales of $550,000.…

A: Total asset turnover = Net sales / Average total assets

Q: Firm C has net income of $136,000, turnover of 1.91, and ROI of 23.90%. Calculate the firm's margin,…

A: Margin will be calculated by dividing ROI with Turnover. Sales will be calculated by dividing the…

Q: The financial statements of Minnesota Mining and Manufacturing Company (3M) report net sales of…

A: Accounts receivable turnover is an efficiency ratio or activity ratio that measures how many times a…

Q: Maxim Company reported beginning and ending total assets of $140,000 and $160,000, respectively.…

A: Average total assets = (Beginning total assets + Ending total assets) /2 = ($140,000+$160,000) / 2 =…

Q: Asset turnover A company reports the following: Sales $820,800 Average total assets (excluding…

A: Ratio analysis: The analysis of a company using the financial ratios and comparing its trends and…

Q: A company's income statement showed the following: net income, $134,000; depreciation expense,…

Q: Selected current year company information follows: Net income $ 16,153 Net sales 714,855 Total…

A: Total asset turnover = Net sales Average total…

Q: Asset turnover A company reports the following: Sales $1,284,150 Average total assets (excluding…

A: Asset Turnover Ratio = Sales Average total assets

Q: JPJ Corp has sales of $1.11 million, accounts receivable of $52,000, total assets of $5.12 million…

A: Here, Sales is $1,110,000 Accounts Receivable is $52,000 Total Assets is $5,120,000 Fixed Assets is…

Q: he following information is available from the annual reports of Blossom Company and Crane Company.…

A: asset turnover formula: asset turnover = salestotal asset return on asset formula: return on asset…

Q: Given the following information: Net income $965 Sales $22,653 Total Assets (average) $21,188…

A: Assets turnover = Sales / Average Assets Return on assets = Net Income / Average Assets

Q: $1,000 Accounts Receivable 100 Accounts Payable (4,000) Accumulated Depreciation 8,000 Cost of Goods…

A: 1. Income Statement - This statement shows the income earned and loss incurred by the organization…

Q: lanufacturing earned operating income last year as shown in the following income statement: $531,250…

A: Formulas used in computation Average operating assets = beginning operating asset + Ending…

Q: Aneko Company reports the following: net sales of $14,800 for Year 2 and $13,990 for Year 1;…

A: The ratio refers to the relationship that exists between two variables. In accounting, the ratio is…

Q: Step Up Ladders Company provides the following financial information: Income from operations…

A: The return on investment is calculated as income from operations divided by average total assets.

Q: A company reports the following: Sales $6,750,000 Average total assets (excluding 2,500,000…

A: given that, sales = $ 6,750,000 Average total assets = 2,500,000 Asset turnover ratio = ?

Q: The asset turnover ratio is (round answer to 2 decimal places)

A: Assets:- Assets are those things that will earn revenue to the company and has a certain value that…

Q: A company reports the following: Sales $10,975,200 Average total assets…

A: Asset turnover ratio = Sales/Average total assets

Q: A company had average total assets of $897,000. Its gross sales were $1,090,000 and its net sales…

A: Given the following information: Net sales: $1,000,000 Average total assets: $897,000 Gross sales:…

Q: Asset turnover A company reports the following: Sales $6,480,000 Average total assets 2,400,000…

A: 1. The assets turnover ratio = Sales / Average total assets (excluding long term investment)

Q: Liberty Corporation reported beginning and ending total assets of $25,000 and $22,000, respectively.…

Q: Text World, Inc., reported sales revenue of $450,000, net income of $54,000, andaverage total assets…

A: Return on assets = Net income / Average total assets where, Average total assets = (Beginning total…

Q: Selected data from Decco Company are presented below: Total assets $1,600,000 Average assets…

A: Given the following information: Total assets: $1,600,000 Average assets: $2,000,000 Net income:…

Q: Bountiful Company had sales of $650,000 and cost of goods sold of $200,000 during a year. The total…

A: Asset turnover ratio shows how much revenue generated by each dollar invested in the assets. It…

Q: Corporation.Gross income $25,240,000Total sales…

A: Given that , Total sales = 24,324,000 Cost of goods sold = 12,600,000…

Q: JPJ Corp has sales of $1.33 million, accounts receivable of $52,000, total assets of $5.05 million…

A: Inventory Inventory can be described as a good or material that a company holds for the purpose of…

Q: Return on total assets A company reports the following income statement and balance sheet…

A: Return on assets: Return on assets is the financial ratio which determines the amount of net income…

Q: expense

A: Formula for calculating the fixed assets turnover ratio is: Fixed assets turnover ratio = Net…

Q: 8A. During the current year, Sokowski Manufacturing earned income of $342,385 from total sales of…

A: The asset turnover is calculated as ratio of Sales and assets

Q: A company had average total assets of $897,000. Its gross sales were $1,090,000 and its net sales…

A: Total asset turnover = Net sales / Average total assets where, Average total assets = (beginning…

Q: A company reports the following:Sales $4,400,000Average total assets…

A: Asset Turnover: Asset turnover refers to the ratio calculated which determines the amount of sales…

Q: The Miller Company reported gross sales of $760,000, sales returns and allowances of $6,900, and…

A: The answer is option (1) [i.e, 1.82 times] Refer step2 for explanation.

Q: Sales $2,400,000 Average total assets (excluding long-term investments) 1,500,000 Determine the…

Q: Asset turnover A company reports the following: Sales $1,102,500 Average total assets (excluding…

A: >Asset Turnover Ratio--The Asset Turnover ratio measures how efficiently the asset invested are…

Q: A company reports the following: Sales $8,782,430 Average total assets (excluding long-term…

A: Accounting ratio: It is a number expressed in terms of another to establish relationship among…

Q: In 2018, a company had beginning total assets of $923,000, and ending total assets of $871,000. Its…

A: Total assets turnover is computed by dividing the net sales by the average investment. Total assets…

Question

A company reports the following:
Sales $1,800,000
Average total assets 1,125,000
Determine the asset turnover ratio. Round to one decimal place.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Asset Efficiency Ratios Selected financial statement numbers for Rutherford Company follow. Required: 1. Using this information, calculate Rutherfords receivable turnover ratio (rounded to two decimal places.) 2. Using this information, calculate Rutherfords asset turnover ratio (rounded to two decimal places) and also convert the ratio into days (rounded to the nearest whole day).
A company reports the following:Sales $4,400,000Average total assets 2,000,000Determine the asset turnover ratio. Round to one decimal place.
A company reports the following: Sales $10,975,200Average total assets $1,371,900 Determine the asset turnover ratio. Round your answer to one decimal place.
8. A company reports the following: Sales Average total assets $5,844,000 3,325,000 Determine the asset turnover ratio. Round to one decimal place.
A company reports the following: Sales $8,782,430 Average total assets (excluding long-term investments) 1,111,700 Determine the asset turnover ratio. Round your answer to one decimal place.fill in the blank 1
Asset turnover A company reports the following: Sales $1,284,150 Average total assets (excluding long-term investments) 611,500 Determine the asset turnover ratio. If required, round your answer to one decimal place.
Asset turnover A company reports the following: Sales $6,480,000 Average total assets 2,400,000 Determine the asset turnover ratio. Round your answer to one decimal place.
Asset turnover A company reports the following: Sales $724,200 Average total assets 426,000 Determine the asset turnover ratio. If required, round your answer to one decimal place.fill in the blank 1
Asset turnover A company reports the following: Sales $858,000Average total assets (excluding long-term investments) 572,000Determine the asset turnover ratio. If required, round your answer to one decimal place.fill in the blank 1
Dundee Co. reported the following for the current year: net sales of $80,000; cost of goods sold of $60,000; beginning balance of total assets of $115,000; and ending balance of total assets of $85,000. Compute total asset turnover. Round to one decimal.
Asset turnover A company reports the following: Sales $1,189,650 Average total assets (excluding long-term investments) 566,500 Determine the asset turnover ratio. If required, round your answer to one decimal place.fill in the blank 1
EX.17-184.ALGO A company reports the following: Sales Average total assets (excluding long-term investments) Determine the asset turnover ratio. Round your answer to one decimal place. I $7,635,340 1,075,400