FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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City Honda has total equity of $560,000; sales of $2,250,000; current assets of $700,000; and total liabilities of $435,000. What is City Honda's total asset turnover?
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- Blue Sun has total assets of $350, current assets of $225, and sales of $600. What is their Asset Turnover?arrow_forwardwant answerarrow_forwardAardvark & Co. has sales of $291,200, cost of goods sold of $163,300, net profit of $11,360, net fixed assets of $154, 500, and current assets of $89, 500. What is the total asset turnover rate? a) 1.19 b) 1.11 c) 1.24 d) 1.08 e) 1.28arrow_forward
- Need answer the questionarrow_forwardDuring 2022, Concord Corporation reported net sales of $4,674,600 and net income of $1,400,000. Its balance sheet reported average total assets of $1,260,000. Calculate the asset turnover. (Round answer to 2 decimal places, e.g. 1.25.) Asset turnoverarrow_forwardCompany A has sales of $830, costs of $290 (not including depreciation), depreciation expense of $40, interest expense of $40, and a tax rate of 21 percent, current assets of $260, net fixed assets of $1850, current liabilities of $240, and long-term debt of $700. What is the total asset turnover? (keep two decimal places) Your Answer: 0.39arrow_forward
- 6arrow_forwardTatye Corporation reported Net sales of $4.6 million and average Total assets of $1.1 million. The Total asset turnover is:arrow_forwardGiven the following information, determine Salem Company's fixed assets Sales = $10,000,000 Total asset turnover = 4 times Current ratio = 2.40 Current liabilities = $500,000 Total assets = current assets + fixed assetsarrow_forward
- Additionally, the company informed the following: Net income = $156,042 Sales = $4,063,589 Determine the following values for the company: Total asset turnover ratio _____________ Fixed asset turnover ratio _____________arrow_forwardFlask Company reports net sales of $4,343 million; cost of goods sold of $2,808 million; net income of $283 million; and average total assets of $2,150. Compute its total asset turnover. Multiple Choice 0.13. 0.77. 1.31. 2.02. 1.55.arrow_forwardMcDonald’s Corporation reports total average assets of $28.9 billion and net sales of $20.5 billion.What is the company’s asset turnover? (Round answer to 2 decimal places, e.g. 15.25.)arrow_forward
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