The Huntzicker Company reported gross sales of $850,000, sales returns and allowances of $5,000 and sales discounts of $5,000. The company has average total assets of $500,000, of which $250,000 is property, plant, and equipment. What is the company's asset turnover ratio? a. 1.68 times b. 1.72 times c. 0.59 times d. 1.8 times
The Huntzicker Company reported gross sales of $850,000, sales returns and allowances of $5,000 and sales discounts of $5,000. The company has average total assets of $500,000, of which $250,000 is property, plant, and equipment. What is the company's asset turnover ratio? a. 1.68 times b. 1.72 times c. 0.59 times d. 1.8 times
Chapter12: Balanced Scorecard And Other Performance Measures
Section: Chapter Questions
Problem 6EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...
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What is the company's asset turnover ratio?
Transcribed Image Text:The Huntzicker Company reported gross sales
of $850,000, sales returns and allowances of
$5,000 and sales discounts of $5,000. The
company has average total assets of $500,000, of
which $250,000 is property, plant, and
equipment. What is the company's asset
turnover ratio?
a. 1.68 times
b. 1.72 times
c. 0.59 times
d. 1.8 times
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