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

Q: Suppose in its 2017 annual report that McDonald's Corporation reports beginning total assets of…

A:

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: 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: 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: 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: 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: 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: 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: SE9-10 Return on Assets and Asset Turnover Last Year, the Miller Company reported on assets of 15…

A: Last year  Return on assets =15% Assets turnover =1.6 Current year Return on assets =19% Assets…

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: 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: A company reports the following:Sales…

A: Formula to calculate asset turnover ratio:

Q: Brad's BBQ reported sales of $660,000 and net income of $41,000. Brad's also reported ending total…

A:

Q: Select financial statement data for two recent years for Davenport Company are as follows: Sales…

A: a. 20Y5 Fixed Asset Turnover Ratio = Net SalesAverage Total…

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: The balance sheet of Hidden Valley Farms reports total assets of $450,000 and $550,000 at the…

A: The return on assets is calculated as net income divided by average total assets.

Q: Jotun Paint Corporation reported net income $24,000, net sales $400,000, and average assets $600,000…

A: Solution:- Calculation of asset turnover ratio as follows under:-

Q: Lions Corp's sales last year were $27,000, and its total assets were $16,000.  What was its total…

A: Total Asset Turnover Ratio = Total Sales/ Average Assets

Q: The following information was drawn from the accounting records of Jones Company. (Round your ang…

A: Assets turnover ratio = Net sales / 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 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: Last year's asset turnover of All is Well Company was 3.0. This year, the company's sales increased…

A: Assets turnover ratio =Net sales / Average total assets where, Average total assets = (Beginning…

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

A:

Q: In a recent annual report, Target reported beginning total assets of $44.1 billion, ending total…

A: Ratio analysis helps to analyze the financial statements of the company. The management can take…

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: 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: 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: Lok Company reports net sales of $5,562,000 for Year 2 and $7,019.000 for Year 3. End-of-year…

A: Total Assets Turnover  = Net Sales / Average Total Assets

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…

A:

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: 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…

Q: The net income reported on the income statement for the current year was $278,260. Depreciation…

A: Increase in Accounts receivable = 124,126 - 104,236 = 19,890 Increase in Inventories = 102,601 -…

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

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

A: The total asset turnover is calculated by dividing the net sales by the average total assets.