Need answer the accounting question not use ai During 2015, Rathke Corporation reported net sales of$3,000,000, net income of $1,200,000, and depreciationexpense of $100,000. Rathke also reported beginning totalassets of $1,000,000, ending total assets of $1,500,000, plantassets of $800,000, and accumulated depreciation of$500,000. Rathke's asset turnover is:A) 3 timesB) 2.4 timesC) 2.0 timesD) 0.96 times

Step 1:- Introduction to the Asset turnoverAsset turnover is the ratio where the amount of sale is…

Answered: During 2015, Rathke Corporation…

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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In its 2014 annual report, Campbell Soup Company reports beginning-of-the-year total assets of $8,113 million, end-of-the-year total assets of $8,323 million, total sales of $8,268 million, and net income of $807 million. Please answer all parts. Compute Campbell’s asset turnover. (Round answer to 4 decimal places, e.g. 4.8726.) Asset turnover times LINK TO TEXT Compute Campbell’s profit margin on sales. (Round answer to 4 decimal places, e.g. 4.8726%.) Profit margin on sales % LINK TO TEXT Compute Campbell’s return on assets using (1) asset turnover and profit margin and (2) net income. (Round answers to 2 decimal places, e.g. 4.87%.) Return on assets (1) Asset turnover and profit margin % (2) Net income %
Baldwin, Inc. had net sales of $52,200,000 for the year ended May 31, 2024. Its beginning and ending total assets were $55,200,000 and $88,800,000, respectively. Determine Baldwin's asset turnover ratio for year ended May 31, 2024. (Round the asset turnover ratio to two decimal places, X.XX.) Asset turnover ratio C
. In 2018, a company had beginning total assets of $923,000, and ending total assets of $871,000. Its gross sales were $1,090,000 and its net sales were $1,000,000. The company's total asset turnover is equal to: A. 0.82 B. 0.90 C. 1.09 D. 1.11
In its 2017 annual report, Campbell Soup Company reports beginning-of-the-year total assets of $7,837 million, end-of-the-year total assets of $7,726 million, total sales of $7,890 million, and net income of $887 million. Compute Campbell’s asset turnover. (Round answer to 4 decimal places, e.g. 4.8726.) Asset turnover enter asset turnover in times rounded to 4 decimal places times LINK TO TEXT Compute Campbell’s profit margin on sales. (Round answer to 2 decimal places, e.g. 4.87%.) Profit margin on sales enter profit margin on sales in percentages rounded to 4 decimal places % LINK TO TEXT Compute Campbell’s return on assets using (1) asset turnover and profit margin and (2) net income. (Round answers to 2 decimal places, e.g. 4.87%.) Return on assets (1) Asset…
During 2022, Concord Corporation reported net sales of $4,674,600 and net income of $1,400,000. Its balance sheet reported average total assets of $1,260,000. Calculate the asset turnover. (Round answer to 2 decimal places, e.g. 1.25.) Asset turnover
In its 2014 annual report, Campbell Soup Company reports beginning- of-the-year total assets of $8,113 million, end-of-the-year total assets of $8,323 million, total sales of $8,268 million, and net income of $807 million. a. Compute Campbell ?s asset turnover. b. Compute Campbell ?s profit margin on the sale. c. Compute Campbell?s return on an asset using (1) asset turnover and profit margin and (2) net income. (1) Assets turnover and profit margin (2) Net income Return on assets % %
Computing the asset turnover ratio Biagas, Inc. had net sales of $55,500,000 for the year ended May 31, 2018. Its beginning and ending total assets were $52,800,000 and $98,500,000, respectively. Determine Biagas’s asset turnover ratio for year ended May 31, 2018.
In its 2017 annual report, Crane Manufacturing Company reports beginning-of-the-year total assets of $2,322,000, end-of-the-year total assets of $2,803,000, total sales of $4,886,000, and net income of $805,000. (a) Your answer is incorrect. Compute Crane's asset turnover. (Round answer to 3 decimal places, e.g. 4.870.) Asset turnover ratio times
During 2022, Sunland Company reported net sales of $3,340,500 and net income of $1,410,000. Its balance sheet reported average total assets of $1,310,000. Calculate the asset turnover. (Round answer to 2 decimal places, e.g. 1.25.) Asset turnover $ times %24
During 2020, Riverbed Corporation reported net sales of $5,542,800 and net income of $1,560,000. Its balance sheet reported average total assets of $1,490,000. Calculate the asset turnover. (Round answer to 2 decimal places, e.g. 1.25.) Asset turnover times
The following data were included in a recent Lavender Associates annual report (in millions): 2015 2016 $ 161,500 $ 159,910 15,480 13,700 2017 $ 68,225 4,820 2018 $112,449 7,980 Net revenue Net property, plant, and equipment Required: 1. Compute Lavender's fixed asset turnover ratio for 2016, 2017, and 2018. 2. During 2018, Zhu and Ramos reported a fixed asset turnover ratio of 8.8. Was Lavender's turnover better or worse than Zhu and Ramos's in that year?

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