Provide Answer for this Question Lake Coffee Company reported net sales of $180,000, net income of $54,000,beginning total assets of $200,000, and ending total assets of $300,000.What was the company's asset turnover ratio?(a) 0.90(b) 0.20(c) 0.72(d) 1.39

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Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 6MCQ

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Lake Coffee Company reported net sales of $180,000, net income of $54,000, beginning total assets of $200,000, and ending total assets of $300,000. What was the company's asset turnover ratio a. 0.90 1.39 O c. 0.72 O d. 0.20
Right Company reported beginning and ending total assets of $36,000 and $30,000, respectively. Its net sales revenue for the year were $26,070. What was Right's asset turnover ratio? A. 0.87 OB. 1.27 OC. 0.79 OD. 0.72
Liberty Corporation reported beginning and ending total assets of $25,000 and $22,000, respectively. Its net sales for the year were $18,800. What was Liberty’s asset turnover ratio? 0.75 0.85 0.80 1.25
Independence Company reported beginning and ending total assets of $38,000 and $42,000, respectively. Its net sales revenue for the year were $34,000. What was Independence's asset turnover ratio? OA. 0.80 ОВ. 0.85 OC. 1.18 OD. 0.81 pe here to search Pi 50 G This question:
Liberty Corporation reported beginning and ending total assets of $25,000 and $22,000, respectively. Its net sales for the year were $18,800. What was Liberty’s asset turnover ratio? a. 0.75 b. 0.85 c. 0.80 d. 1.25
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.
Kraft Inc. has a gross profit of $45,000 on sales of $150,000. The balance sheet shows average total assets of $75,000 with an average inventory balance of$15,000. What is Kraft's total asset turnover and inventory turnover ?
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
The following are financial data taken from the annual report of Foundotos Company: Year 2 $134,448 51,981 37,154 57,504 Net sales Gross property, plant and equipment Accumulated depreciation Intangible assets (net) A. Calculate the following ratios for Year 1 and Year 2: 1. Fixed asset turnover 2. Accumulated depreciation divided-by-gross fixed assets B. What do the trends in these ratios reveal about Foundotos? Year 1 $130,060 47,744 34,180 36,276
Dundee Company reported the following for the current year: Net sales Cost of goods sold Beginning balance of total assets Ending balance of total assets $ 87,200 69,000 124,000 94,000 Compute total asset turnover. Numerator: Average total assets Cost of goods sold Net sales Total Asset Turnover Denominator: = Total Asset Turnover = Total asset turnover = times
Power Company reported beginning and ending total assets of $29,000 and $40,000, respectively. Its net sales revenue for the year were $23,000. What was Power's asset turnover ratio?
The following information was drawn from the accounting records of Jones Company. (Round your ans Net sales $361,290 Net income 56,000 Average total assets 530,000 Average total liabilities Average total stockholders' equity 330,000 215,000 Based on this information the company's asset turnover is Multiple Choice $0.68 of sales dollars per $1 of assets. $1.55 of sales dollars per $1 of assets. $1.06 of sales dollars per $1 of assets. MacBook Ain 80 DII F2 F3 F4 F5 F6 F7 F8 2$ 5 CO CO 13

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