Accounting answer of general accounting question For 2023, Blue Ridge Industries reported beginning total assets of $720,000and ending total assets of $810,000. Its net income for this period was $84,000,and its net sales were $945,000. Compute the company's asset turnover for2023.

To calculate the asset turnover, we use the following formula: Asset Turnover = Net Sales / Average…

Answered: For 2023, Blue Ridge Industries…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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For 2023, Blue Ridge Industries reported beginning total assets of $720,000 and ending total assets of $810,000. Its net income for this period was $84,000, and its net sales were $945,000. Compute the company's asset turnover for 2023.