Answered: Average total assets are $400,000; net…

Average total assets are $400,000; net income is $200,000; and net sales are $800,000. The asset turnover is OA) 25% B) 50% C) 100% D) 200% E) none of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The asset turnover from the following is: (Round to the nearest tenth) Gross Sales $60,000 //// Sales discount $3,000 II Sales returns and allowances $7,000 //// Total Assets $38,000 O a. 1.4 O b. 1.6 Oc. 1.5 O d. 1.3 A Moving to another question will save this response. «< Question 12 of 23 Sh Informative Top...docx の)
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