Question: Net sales are $3,000,000, beginning total, assets are $1,400,000. and the asset turnover is 3.0 times. What is the ending total asset balance?
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What is the ending total asset balance?
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- A company reports the following:Sales $1,800,000Average total assets 1,125,000Determine the asset turnover ratio. Round to one decimal place.▷ NET SALES ARE $3,000,000, BEGINNING TOTAL, ASSETS ARE $1,400,000. AND THE ASSET TURNOVER IS 3.0 TIMES. WHAT IS THE ENDING TOTAL ASSET BALANCE? ▷ A) $1,400,000. ▷ B) 800,000. C) $1,000,000. D) $600,000.EX.17-184.ALGO A company reports the following: Sales Average total assets (excluding long-term investments) Determine the asset turnover ratio. Round your answer to one decimal place. I $7,635,340 1,075,400