Answered: BOB Corp.'s sales last year were…

BOB Corp.'s sales last year were $98,000, and its total assets were $37,000. What was its total assets turnover ratio (TATO)?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 4P: Talbot Enterprises recently reported an EBITDA of $8 million and net income of $2.4 million. It had...

See similar textbooks

Related questions

Q: What is this firm debt equity ratio? Answer please

A: Solution ExplanationWe are given the following information for Zombie Corp.:Profit Margin (PM) =…

Q: I want to this question answer general Accounting

A: Step 1: Formula Cost of goods sold = Cost of goods manufactured + Beginning finished goods inventory…

Q: What are the annual after tax cash receipt? Accounting question

A: Step 1: Calculate Annual Cash Flow Before TaxAnnual cash receipts: $563,000Annual cash expenses:…

Q: Provide answer general accounting

A: To determine how many board feet of wood Cedar Furniture should purchase in August, we need to…

Q: General Accounting

A: Step 1:First, calculate the total sales revenue generated from regular sales and clearance sales:…

Q: Need help with this question solution general accounting

A: As per CAPM, Cost of common stock = Risk-free rate + Beta*Market risk Premium Cost of common stock…

Q: Please provide solution this financial accounting question

A: Step 1: Define Cash Coverage RatioThe Cash Coverage Ratio measures a company's ability to cover its…

Q: Quick answer of this general accounting questions

Q: What was the income from operations? Give me solution

A: Step 1: Information givenFor part (a):Sales = $1,300,000Fixed costs = $52,700Variable costs =…

Q: Solve this Accounting problem

A: Explanation of Maturity Value:The maturity value of a note payable is the total amount that must be…

Q: The profit margin would be

A: Step 1: Net sales Net sales = Sales revenue - Sales returns and allowances - Sales discountsNet…

Q: General Accounting

A: Step 1: Contribution margin ratio Basis: Sales so the sales ratio is 100%Contribution margin ratio =…

Q: need help this questions

A: Current Assets=Net Working Capital+Current LiabilitiesCurrent Assets=570+880=1,450Total assets…

Q: What would be the total amount of receivable related to this loan

A: Explanation of Principal Amount:The principal amount is the initial sum of money that is loaned or…

Q: ?

A: Step 1: Contribution margin ratio.= (unit selling price - unit variable cost) / unit selling price=…

Q: Pasadena Candle Inc

A: Concept of Direct LaborDirect labor refers to the wages paid to workers who are directly involved in…

Q: Provide solution

A: Step 1: Definition of Debt-to-Equity RatioThe Debt-to-Equity Ratio (D/E) measures the proportion of…

Q: Ans please

A: Step 1: Definition of Operating Cash Flow (OCF)Operating Cash Flow (OCF) represents the cash…

Q: Help

A: To determine the standard time for the job, we use the formula::Given Data:

Q: Answer please

A: Step 1: Definition of Return on Assets (ROA)Profitability ratios are financial ratios used to get…

Q: A fixed asset with a cost of dollar 42,200 and accumulated depreciation of dollar 36,500 is sold for…

A: Concept of Book ValueThe book value of an asset represents its net worth after accounting for…

Q: Want to this question answer general Accounting

A: Step 1: Define Work-in-Process (WIP) Inventory CalculationThe Work-in-Process (WIP) Inventory…

Q: Financial accounting

A: CAPM Formula: R = Rf + β(Rm - Rf)1. Components Explained:- R = Required return (cost of…

Q: A company had an income of $72,000 using absorption costing for a given period. Beginning and ending…

A: Explanation of Income Under Absorption Costing:Income under absorption costing refers to the net…

Q: A company updates its inventory perpetually. Its beginning inventory is $48,000, goods purchased…

A: Explanation of Perpetual Inventory System: This is a real-time inventory tracking method where the…

Q: How many direct labor hours did regal creations have

A: Explanation of Applied Overhead:Applied overhead refers to the estimated manufacturing overhead…

Q: Quick answer of this accounting questions

A: Step 1: Definition of Operating CycleThe operating cycle is the time it takes for a company to…

Q: Hy expert give me correct solution

A: Step 1: Definition of Bad Debt ExpenseBad debt expense represents the estimated amount of…

Q: Contribution margin rate?

A: Explanation of Contribution Margin:The contribution margin is the difference between sales revenue…

Q: Solve this Accounting problem

A: Explanation of Operating Cash Flow: Operating cash flow represents the amount of cash generated from…

Q: can you please solve this

A: Step 1: Step 3: Step 4:

Q: General Accounting question

A: Step 1: Define Labor Efficiency (Quantity) VarianceThe labor efficiency variance measures how…

Q: Operating leverage

A: 1. Key Concepts:Operating Leverage is a measure of how effectively a company uses its fixed costs to…

Q: How many machine hours does the company expect in department 2 ?

A: Step 1: Definition of Machine Hours CalculationMachine hours (MH) are used as an allocation base for…

Q: How much is the direct labor efficiency variance?

A: To solve for the direct labor efficiency variance, we use the following formula and steps:Correct…

Q: Ans? ? Financial accounting

A: Step 1: Define Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) represents the total cost of…

Q: Aide Industries is a division of a major corporation. Data concerning the most recent year appears…

A: Concept of SalesSales refer to the total revenue generated by a company from selling its goods or…

Q: The entry to appythe factory overhead costs for the year would include?

A: Explanation of Factory Overhead:Factory overhead, also known as manufacturing overhead, refers to…

Q: What was the amount of collection from customers?

A: Collection from customers = Beginning accounts receivable + Credit sales - Ending accounts…

Q: Waiting for your solution general Accounting question

A: Step 1: Define Operating (EBIT) MarginThe Operating Margin (EBIT Margin) measures a company's…

Q: MEG Adventures pays $525,000 plus $13,000 in closing costs to buy out a competitor. The real estate…

A: To compute the cost allocated to the building, we use the relative fair value method. This method…

Q: Accounting problem

A: Explanation of Cost of Goods Sold (COGS):The Cost of Goods Sold (COGS) represents the direct costs…

Q: Kindly help me with accounting questions

A: The question requires the determination of the common cost of stock. The cost of common stock refers…

Q: Correct option? ? General Accounting question

A: Step 1: Define Total Percentage ReturnTotal percentage return measures the overall gain or loss on…

Q: Provide correct answer with accounting

A: Step 1: Definition of Price-Earnings (P/E) RatioThe Price-Earnings (P/E) Ratio is a valuation metric…

Q: After the first payment was made the note payable liability

A: Explanation of Note Payable Liability:The note payable liability represents the total amount a…

Q: General accounting

A: Step 1: Definition of Return on Equity (ROE)The Return on Equity (ROE) ratio measures how…

Q: Crane Company sponsors a defined benefit pension plan. The corporation's actuary provides the…

A: Approach to solving the question:Detailed explanation:Examples: Key references:

Q: Financial accounting question

A: Step 1: Define T-Bill Futures ContractsA T-Bill futures contract represents a standardized agreement…

Q: What is the recognized gain on the sale

A: Harland's purchases and the corresponding cost basis:1995 purchase: 40 shares at $25 per share = 40…

Question

BOB Corp.'s sales last year were $98,000, and its total
assets were $37,000. What was its total assets turnover
ratio (TATO)?

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 by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Talbot Enterprises recently reported an EBITDA of $8 million and net income of $2.4 million. It had $2.0 million of interest expense, and its corporate tax rate was 40%. What was its charge for depreciation and amortization?
Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of goods sold was 240,000, its operating expenses were 50,000, its interest revenue was 2,000, and its interest expense was 12,000. Brandts income tax rate is 30%. Prepare Brandts multiple-step income statement for the current year.
During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000,000. A. Based on this information, calculate asset turnover. B. Using the sales margin from the previous exercise, what is the total ROI for the company during the current year?
During the current year. Plainfield Manufacturing earned income of $845,000 from total sales of $9,350,000 and average capital assets of $13,500,000. What is the sales margin?
During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000, 000. What is the sales margin?
During the current year, Plainfield Manufacturing earned income of $845,000 from total sales of $9,350,000 and average capital assets of $13,500,000. Using the sales margin from the previous exercise, what is the total ROI for the company during the current year?
Ace Industries has current assets equal to 3 million. The companys current ratio is 1.5, and its quick ratio is 1.0. What is the firms level of current liabilities? What is the firms level of inventories?
Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.
The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of 36.5 days (based on a 365-day year), total current assets of $810,000, and cash and marketable securities of $120,000. What were Kretovich’s annual sales?
The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.
The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: During the year, Arnn had net sales of 2.45 million. The cost of goods sold was 1.3 million. Required: Note: Round all answers to two decimal places. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. 4. Compute the accounts receivable turnover in days. 5. Compute the inventory turnover ratio. 6. Compute the inventory turnover in days.