What was the company's turnover rounded to the nearest tenth ? Last year, the House of Orange had sales of $826,650,net operating income of $81,000, and operating assets of$84,000 at the beginning of the year and $90,000 at theend of the year. What was the company's turnoverrounded to the nearest tenth?A. 9.2B. 9.5C. 9.8D. 10.2

Turnover (in managerial accounting) is the ratio of sales to average operating assets, measuring how…

Answered: Last year, the House of Orange had…

EBK CFIN

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ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter2: Analysis Of Financial Statements

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APX Co achieved $16 million revenue in the year that has just ended and expects revenue growth of 8.4% in the next year. Cost of sales in the year that has just ended was $10.88 million and other expenses were $1.44 million. The financial statements of APX for the year that has just ended contain the following statement of financial position: $m $m Non-current assets 22.0 Current assets 2.4 Inventory 2.2 Trade Receivables 4.6 Total Assets 26.6 $m $m Equity Finance 5.0 Ordinary Shares 7.5 Reserves 12.5 Long-term bank loan 10.0 22.5 Current Liabilities 1.9 Trade Payables 2.2 Overdraft 4.1 Total equity and liabilities 26.6 The long-term bank loan has a fixed annual interest rate of 8% per year. APX pays taxation at an annual rate of 30% per year.…
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Last year, the House of Orange had sales of $826,650, net operating income of $81,000, and operating assets of $84,000 at the beginning of the year and $90,000 at the end of the year. What was the company's turnover rounded to the nearest tenth? A. 9.2 B. 9.5 C. 9.8 D. 10.2