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 $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.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 8BE: A company reports the following: Determine the asset turnover ratio. Round to one decimal place.

See similar textbooks

Related questions

Q: Lok Company reports net sales of $5,856,480 for Year 2 and $8,679,690 for Year 3. End-of-year…

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

Q: Selected current year-end financial statements of Genesis Corporation follow. All sales were on…

A: A series of high-level reports that describe a company's monetary performance, financial position,…

Q: The Home Depot reported the following data (in millions) in its recent financial statements: Year 2…

A: The asset turnover ratio measures the value of a company's sales or revenue relative to the value of…

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: 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: 1. Calculate the following ratios. (Use 365 days in a year. Round your intermediate calculations and…

A: 1)Calculation of Net profit margin as follows:- Net profit =Net income / Sales revenue x 100

Q: The following are financial data taken from the annual report of Bree & Company: Year 2 Year 1 Net…

A: Fixed asset turnover is the ratio how much times revenue has been earned on investing average fixed…

Q: JT Engineering's current asset information is shown here. If JT's current liabilities are $300,000,…

A: Lets understand the basis. Current ratio compares the current asset with current liabilities.…

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: Average total assets (excluding long-term inve

A: The Asset turnover ratio compares the worth of a company's sales or revenues to the value of its…

Q: Computing Asset Ratios The following information relates to Nicke Inc. Total Fixed Total Net $…

A: Assets Turnover Ratio: This ratio measures company's ability to generate sales from its assets by…

Q: A company reports the following: Sales $8,296,860 Average total assets (excluding long-term…

A: Ratio analysis is a method of measuring the financial position of the organization with different…

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: 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: A company reports the following:Sales…

A: Formula to calculate asset turnover ratio:

Q: Computing Asset Ratios The following information relates to Mazy's Inc. $ millions Total Assets…

A: Asset turnover ratio measures the effectiveness in which the business uses its total assets to…

Q: A company reports the following: Sales $1,304,800 Average total assets (excluding long-term…

A: Formula: Asset turnover ratio = Sales / Average total assets

Q: BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following…

A: Ratio analysis is a valuable management technique that may help you better comprehend financial…

Q: Average Book Sales (in Value of Fixed Assets Company (Industry) millions) (in millions) Comcast…

A: Fixed Assets Turnover : This ratio measure the efficiency of the company,how effectively company…

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: Computing the asset turnover ratio Biagas, Inc. had net sales of $55,500,000 for the year ended May…

A: Asset turnover ratio = Net sales / Average total assets Where, Average total assets = ( Beginning…

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: ast year Triangular Resources earned $5.4 million in net operating income and had an operating…

A: The total investment in sales can be calculated by combining the formulas of operating profit margin…

Q: ESTLE. THANK YOU tio Analysis Efficiency Asset turnover Inventory turnover Receivables turnover…

A: Ratio: It is the arithmetical expression of relationship between two related or interdependent items…

Q: eppertree Company’s financial statements on December 31, 2021, showed the following: Net Sales $…

A: Financial records are those documents which reflect or summarize business transactions. A proper…

Q: The comparative temporary investments and inventory balances of a company follow.…

A: Horizontal analysis refers to the measurement of percentage change in the comparative financial…

Q: $800,000 $100,000 $120,000 $900,000 Net Income Assets at the beginning of the year Assets at the end…

A: Formulas to be used to solve this question: Return on Assets = Net Income / Average Net Assets…

Q: Brad’s BBQ reported sales of $735,000 and net income of $28,000. Brad’s also reported ending total…

Q: Asset turnover A company reports the following: Sales $724,200 Average total assets 426,000…

A: The asset turnover ratio can be calculated by dividing the net sales value by the average of total…

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

A: 1. Calculation of return on assets:

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: Operating profit 43-7 Sales revenue 910-4 Share capital and reserves 182-3 Long-term borrowing 77-9…

A: Lets understand the basics. Current ratio compares current asset with current liabilities. It…

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: Sales $185,150 Beg of year $178,000 End of year $144,000 Whats the asset turnover of the year?

A: Average asets = (Begnning assets + Ending assets) / 2 = ($178000 + $144000) /2 = $161,000

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

Q: Total asset turnover shows.. Select one: a.dollar amount investment in assets needed to generate one…

A: Investors often use the asset turnover to evaluate companies in the same sector, industry or group.…

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: Carla Vista Co. reports the following information (in millions) during a recent year: net sales,…

A: Step 1: Compute the average total assets: Step 2: Compute the return on assets: Thus, the return…

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: McDonald’s Corporation reports total average assets of $28.9 billion and net sales of $20.5 billion.…

A: Formulas: Asset turnover ratio = Net sales / Average total assets

Q: Lok Co. reports net sales of $5,856,480 for Year 2 and $8,679,690 for Year 3. End-of-year balances…

A: Ratio analysis helps the manager to evaluate the current performance and take action that increases…

Q: McDonald’s Corporation (MCD) reported the following balance sheet and income statement data for two…

A: Assets turnover ratio = Net Sales/ Average Total Assets

Question

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.

Expert Solution

This question has been solved!

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

SEE SOLUTION Check out a sample Q&A here

Step 1 : formula used

VIEW

Step 2 : Calculation of Asset Turnover Ratio

VIEW

Step by step

Solved in 2 steps

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 Rumsford Inc.s financial statements for 2019 indicate the following account balances: Required: 1. Using this information, calculate Rumsfords receivable turnover ratio. (Note: Round to two decimal places.) 2. Using this information, calculate Rumsfords asset turnover ratio and also convert the ratio into days.
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 $10,975,200Average total assets $1,371,900 Determine the asset turnover ratio. Round your answer to one decimal place.
A company reports the following: Sales $8,296,860 Average total assets (excluding long-term investments) 1,063,700 Determine the asset turnover ratio. Round your answer to one decimal place.fill in the blank 1
A company reports the following:Sales $1,800,000Average total assets 1,125,000Determine the asset turnover ratio. Round to one decimal place.
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
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 $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
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
Given the following information pulled from a firm's financial statements, what is their Asset Turnover ratio? (round to the nearest two decimal places; 1.037 = 1.04) Total Liabilities Sales Revenue Net Operating Income 5,813,082 10,279,452 5,891,671 Current Assets 2,648,145 Total Stockholder Equity Current Liabilities 1,879,832 5,068,098
Asset Efficiency Ratios Sammy Inc.'s financial statements for 2023 indicate the following account balances: Net sales Cost of goods sold Average accounts receivable Average inventory Average property, plant, and equipment Average total assets. Required: Round your answers to two decimal places. 1. Using this information, calculate Sammy's receivable turnover ratio. $307,608 170,100 21,329 3,960 85,367 144,140 2. Using this information, calculate Sammy's asset turnover ratio and also convert the ratio into days. Assume 365 days in a year. Round your answer to nearest whole day. Asset turnover ratio Conversion into days days
JPJ Corp has sales of $1.33 million, accounts receivable of $52,000, total assets of $5.05 million (of which $2.88 million are fixed assets), inventory of $153000, and cost of goods sold of $601000. What is JPJ's accounts receivable days? Fixed asset turnover? Total asset turnover? Inventory turnover? **round to two decimal places**