1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anestetic [448]
3 years ago
13

Use the following selected 2016 balance sheet and income statement information for Home Garden Supply Co. (in millions) to compu

te asset turnover (AT) to the nearest hundredth of a percent.
Net income Gross profit on sales Average total assets Sales Tax rate on operating profit
$69,960 $700,400 $360,600 $1,356,504 35%

Select one:

a. 5.16%
b. 9.99%
c. 51.63%
d. 33.56%
Business
1 answer:
zepelin [54]3 years ago
8 0

Answer:

3.76 times

Explanation:

The computation of the asset turnover is shown below:

Asset turnover = Net sales ÷ Average total assets

= $1,356,504 ÷ $360,600

= 3.76 times

By dividing the net sales from the average total assets, the asset turnover could arrive i.e 3.76 times

This is the answer but the same is not provided in the given options

You might be interested in
You possess a SECRET personnel security clearance and have been assigned to work on Project X. Carlos is your superior and has a
Mice21 [21]

Answer:

No. The classified document should not be shared with Carlos

Explanation:

Based on the information given the classified document should not be shared with Carlos because Carlos is not part of the Project X team and he does not have a "need-to-know" secondlly no one else is supposed to be given automatic access to the Secret document in my possession related to Project X or the classified information solely because the person is my superior or because of the person rank, position or security clearance.

6 0
4 years ago
During the month of March, Munster Company's employees earned wages of $64,000. Withholdings related to these wages were $4,896
STALIN [3.7K]

Answer:

A) March 31 journal entries for wages expense and wages payable

  • Dr Salaries and Wages Expense account 64,000
  • Cr FICA Taxes Payable account 4,896
  • Cr Federal Income Tax Payable account 7,500
  • Cr State Income Tax Payable account 3,100
  • Cr Union Dues Payable account 400
  • Cr Salaries and Wages Payable account 48,104

B) March 31 journal entries for company's payroll tax expenses

  • Dr Payroll Tax Expense account 5,596
  • Cr FICA Taxes Payable account 4,896
  • Cr State Unemployment account 700

8 0
3 years ago
Can anyone help plz?
Ulleksa [173]

Explanation:

this is easy to understand and even to answer so if I tell u the answer

how will u learn to do things yourself. By me being a business Woman i learn't that in order to gain sumthing in life u have to do it yourself

7 0
3 years ago
Home Depot selling plywood at wholesale prices during Hurricane Andrew could be considered, (Select the most appropriate answer.
ludmilkaskok [199]

Answer:

d. Possibly a profitable

Explanation:

  • Wholesale cost goals is to earn profit and sell all goods at a higher price thereby making money and profit. Not consumer centered.
8 0
3 years ago
Prime costs are a. direct materials and direct labor b. direct labor and factory overhead c. period costs and factory overhead d
Virty [35]

Answer: Direct materials and direct labor.

Explanation:

Prime costs are the basic expenses a production company pays for to enable production. The prime cost basically involves cost on labor and raw materials needed for production.

7 0
4 years ago
Other questions:
  • What type of group discussion does the moderator perform a passive role
    8·1 answer
  • A customer owns 100 shares of an NYSE listed preferred stock and notices that the typical daily trading volume in the issue is l
    11·1 answer
  • An indifference curve shows all 1. possible equilibrium positions on an indifference map. 2. equilibrium combinations of two pro
    10·1 answer
  • Miracle Mobile Devices, Inc., is a private, for-profit corporation that
    5·1 answer
  • The insured owns an older home with lath and plaster walls. Following a kitchen fire, the insurance company pays to have the wal
    6·2 answers
  • Shen spends $200 to purchase legal service from Rowan and Martin Associates. Valerie spends $8 to order a mojito cocktail. Shen
    8·1 answer
  • What is the opportunity cost in this scenario​
    9·1 answer
  • Gulph Company reported the following results from the sale of 5,000 hammers in May: sales $200,000, variable costs $120,000, fix
    6·1 answer
  • On the basis of the information, and assuming trade occurs between the three states, we can expect Multiple Choice Washington to
    13·1 answer
  • A company has total fixed costs of $180,000 and a contribution margin ratio of 30%. How much sales are necessary to break even?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!