Please explain the solution to this general accounting problem with accurate principles. The following information is available for XYZ Corporation for the fiscal year:Operating income$120,000Average total assets$800,000Net sales$1,200,000Required rate of return 15%Calculate the asset turnover.a. 0.15 times b. 0.67 times c. 1.5 times d. 2.25 times

Step 1: Definition of Asset TurnoverAsset turnover is a financial ratio that measures how…

Answered: The following information is available…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 19P

See similar textbooks

Similar questions

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?
General Accounting
AQUA SYSTEMS REPORTS THE FOLLOWING SALES OF $150,000; INFORMATION: BEGINNING ASSETS OF $300,000, ENDING ASSETS OF OF $360,000; NET INCOME $9,000. OF THE RETURN ON ASSETS (TO THE NEAREST WHOLE NUMBER) IS: A. 555% B. 30% c. 3% D. 6%
Your company has net sales revenue of $43 million during the year. At the beginning of the year, fixed assets are $15 million. At the end of the year, fixed assets are $17 million. What the fixed asset turnover ratio? Multiple Choice 2.87 1.34 2.53 269
Asset turnover A company reports the following: Sales $6,480,000 Average total assets 2,400,000 Determine the asset turnover ratio. Round your answer to one decimal place.
Crafty Inc. reported the following financial data. Sales, $180,000; operating expenses $160,000; average operating assets, $150,000; total liabilities, $98,000. The company requires a minimum 12% return on investments. What is the asset turnover ratio? O.133 O.18 O 1.2 O .111
Question: A company reports the following: Sales $4,400,000 Average total assets (excluding long-term investments) 2,000,000 Determine the asset turnover ratio.
Asset turnover A company reports the following: Sales $820,800 Average total assets (excluding long-term investments) 456,000 Determine the asset turnover ratio. If required, round your answer to one decimal place.
Please provide answer the general accounting question
For last year
General accounting question
AMT. Inc.'s net income for this quarter is $500,000. The publicized return on assets (ROA) is 34.5 % . Estimate the firm's total asset to the closet possible. a. $1,500,000 c. $2,450,000 b. $ 1,450,000 d. $2,005,500

SEE MORE QUESTIONS

Recommended textbooks for you

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS

The following information is available for XYZ Corporation for the fiscal year: Operating income $120,000 Average total assets $800,000 Net sales $1,200,000 Required rate of return 15% Calculate the asset turnover. a. 0.15 times b. 0.67 times c. 1.5 times d. 2.25 times