Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN: 9781305961883
Author: Carl Warren
Publisher: Cengage Learning
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What is the total asset turnover rate for these financial accounting question?

Hawkline Enterprises has total sales of $368,500, a cost
of goods sold of $214,700, a net profit of $17,900, net
fixed assets of $185,400, and current assets of $121,300.
What is the total asset turnover rate?
a) 1.72
b) 1.45
c) 1.20
d) 1.49
e) 1.56
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Transcribed Image Text:Hawkline Enterprises has total sales of $368,500, a cost of goods sold of $214,700, a net profit of $17,900, net fixed assets of $185,400, and current assets of $121,300. What is the total asset turnover rate? a) 1.72 b) 1.45 c) 1.20 d) 1.49 e) 1.56
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Survey of Accounting (Accounting I)
Accounting
ISBN:9781305961883
Author:Carl Warren
Publisher:Cengage Learning