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AccountingAccounting (Text Only)26th Edition

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Chapter 6, Problem 6.7BPE
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Accounting (Text Only)

26th Edition
Carl Warren + 2 others
ISBN: 9781285743615

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Problem 1DQ
Problem 2DQ
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Problem 6DQ
Problem 7DQ
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Problem 6.1APE
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Problem 6.2APE
Problem 6.2BPE
Problem 6.3APE
Problem 6.3BPE
Problem 6.4APE
Problem 6.4BPE
Problem 6.5APE
Problem 6.5BPE
Problem 6.6APE
Problem 6.6BPE
Problem 6.7APE
Problem 6.7BPE
Problem 6.1EX
Problem 6.2EX
Problem 6.16EX
Problem 6.3EX
Problem 6.4EX
Problem 6.5EX
Problem 6.6EX
Problem 6.7EX
Problem 6.8EX
Problem 6.9EX
Problem 6.10EX
Problem 6.11EX
Problem 6.12EX
Problem 6.13EX
Problem 6.14EX
Problem 6.15EX
Problem 6.17EX
Problem 6.18EX
Problem 6.19EX
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Problem 6.30EX
Problem 6.31EX
Problem 6.32EX
Problem 6.33EX
Problem 6.34EX
Problem 6.35EX
Problem 6.36EX
Problem 6.37EX
Problem 6.38EX
Problem 6.39EX
Problem 6.1APR
Problem 6.2APR
Problem 6.3APR
Problem 6.4APR
Problem 6.5APR
Problem 6.6APR
Problem 6.7APR
Problem 6.8APR
Problem 6.9APR
Problem 6.10APR
Problem 6.1BPR
Problem 6.2BPR
Problem 6.3BPR
Problem 6.4BPR
Problem 6.5BPR
Problem 6.6BPR
Problem 6.7BPR
Problem 6.8BPR
Problem 6.9BPR
Problem 6.10BPR
Problem 1COP
Problem 6.1CP
Problem 6.2CP
Problem 6.3CP
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Accounting (Text Only)

26th Edition
Carl Warren + 2 others
ISBN: 9781285743615
Textbook Problem
1 views

Ratio of sales to assets

Financial statement data for years ending December 31 for Edison Company follows:

Chapter 6, Problem 6.7BPE, Ratio of sales to assets Financial statement data for years ending December 31 for Edison Company

a. Determine the ratio of sales to assets for 2016 and 2015.

b. Does the change in the ratio of sales to assets from 2015 to 2016 indicate a favorable or an unfavorable trend?

a.

To determine

Asset turnover ratio is used to determine the efficiency of the company towards use of asset towards generation of sales. The formula to calculate asset turnover is given below:

Asset turnover = Net revenueAverage total assets

The asset turnover for 2016 and 2015 for Company E.

Explanation

Working Notes:

Calculate the average total assets.

Beginning assets = $770,000

Ending assets = $800,000

Average total assets = Beginning assets + Ending assets2= $770,000 + $800,0002= $785,000 (1)

Calculate the asset turnover for 2015.

Sales/ net revenue = $1,568,000

Average total assets = $710,000 (2)

Asset turnover = Net revenueAverage�

b.

To determine

To Comment: Whether the change in the asset turnover from 2015 to 2016 indicate a favorable or an unfavorable trend.

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Ch-6 P-1DQCh-6 P-2DQCh-6 P-3DQCh-6 P-4DQCh-6 P-5DQCh-6 P-6DQCh-6 P-7DQCh-6 P-8DQCh-6 P-9DQCh-6 P-10DQ
Ch-6 P-6.1APECh-6 P-6.1BPECh-6 P-6.2APECh-6 P-6.2BPECh-6 P-6.3APECh-6 P-6.3BPECh-6 P-6.4APECh-6 P-6.4BPECh-6 P-6.5APECh-6 P-6.5BPECh-6 P-6.6APECh-6 P-6.6BPECh-6 P-6.7APECh-6 P-6.7BPECh-6 P-6.1EXCh-6 P-6.2EXCh-6 P-6.16EXCh-6 P-6.3EXCh-6 P-6.4EXCh-6 P-6.5EXCh-6 P-6.6EXCh-6 P-6.7EXCh-6 P-6.8EXCh-6 P-6.9EXCh-6 P-6.10EXCh-6 P-6.11EXCh-6 P-6.12EXCh-6 P-6.13EXCh-6 P-6.14EXCh-6 P-6.15EXCh-6 P-6.17EXCh-6 P-6.18EXCh-6 P-6.19EXCh-6 P-6.20EXCh-6 P-6.21EXCh-6 P-6.22EXCh-6 P-6.23EXCh-6 P-6.24EXCh-6 P-6.25EXCh-6 P-6.26EXCh-6 P-6.27EXCh-6 P-6.28EXCh-6 P-6.29EXCh-6 P-6.30EXCh-6 P-6.31EXCh-6 P-6.32EXCh-6 P-6.33EXCh-6 P-6.34EXCh-6 P-6.35EXCh-6 P-6.36EXCh-6 P-6.37EXCh-6 P-6.38EXCh-6 P-6.39EXCh-6 P-6.1APRCh-6 P-6.2APRCh-6 P-6.3APRCh-6 P-6.4APRCh-6 P-6.5APRCh-6 P-6.6APRCh-6 P-6.7APRCh-6 P-6.8APRCh-6 P-6.9APRCh-6 P-6.10APRCh-6 P-6.1BPRCh-6 P-6.2BPRCh-6 P-6.3BPRCh-6 P-6.4BPRCh-6 P-6.5BPRCh-6 P-6.6BPRCh-6 P-6.7BPRCh-6 P-6.8BPRCh-6 P-6.9BPRCh-6 P-6.10BPRCh-6 P-1COPCh-6 P-6.1CPCh-6 P-6.2CPCh-6 P-6.3CP

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