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
harina [27]
3 years ago
7

Maple Corp. had net sales of $204,550 for the year ended December 31, 2017. Its beginning and ending total assets were $83,200 a

nd $116,500, respectively. Determine Maple's asset turnover ratio for the year ended December 31, 2017. (Round your answer to two decimal places.)
A. 2.46 times
B. 2.05 times
C. 0.49 times
D. 1.16 times
Business
1 answer:
monitta3 years ago
6 0

Answer:

B. 2.05 times

Explanation:

Asset turnover ratio is computed by dividing net sales by average total assets

Given the following information about Maple Corp. for the year ended December 31, 2017

Beginning total assets = $83,200

Ending total assets = $116,500

Average total assets = (83,200+116,500)/2

                                  = 199700 /2

                                  = $99,850

net sales = $204,550

Asset turnover ratio = net sales/average total assets

                                 = $204,550/$99,850

                                 = 2.05 times

You might be interested in
In the out line above which sub topic is incorrectly placed under a topic heading
DerKrebs [107]

i think its computer assembly and repair.

5 0
3 years ago
Managerial accounting information: Select one: a. follows GAAP in the reporting process. b. can be tailored to the needs of the
saveliy_v [14]

Answer:

b. can be tailored to the needs of the internal user.

Explanation:

Managerial accounting information is basically for internal users, and is not aimed to provide information to external users. It aims of future projections.

It need not follow the US GAAP process, as there is no statutory requirement.

Shareholders are considered external for this purpose, as internal ones are, management, employees, labor etc:

Therefore, it does not help shareholders.

It does not report any kind of business results, it only aims to regulate transactions and accordingly planning future goals.

Therefore, correct option is

b. can be tailored to the needs of the internal user.

7 0
3 years ago
What is a nonprofit corporation, and how is it different from a C corporation?
nalin [4]

Answer:

A corporation is to make profit

non-profit coorporation don't have any shareholders, so they serve a different function. Thier focus is on something other than making profit

3 0
3 years ago
Read 2 more answers
if an item of clothing costs a manufacturer R60 to make,how much profit was made per item if 10 items were sold for R1200​
postnew [5]

Answer:

600

Explanation:

60×10=600 (this is the cost)

1200-600=600

3 0
2 years ago
Your restaurant plans to spend $1,000 on social media ads. Your average meal sells for $10 and food cost is 30%. How many additi
Romashka [77]

Answer:

Number of meals = 100

Explanation:

The amount that the restaurant plan to spend on ads = $1000

The average selling price of meal = $10

The cost of food is = 30%

At breakeven, the total revenue is equal to total cost.

Total cost of advertsing = total revenue  

So, the number of meals = $1000 / 10 = 100

5 0
3 years ago
Other questions:
  • A firm is considering purchasing an asset that will have a useful life of 15 years and cost​ $7.5 million; it will have installa
    6·1 answer
  • Orders placed for buying shares of a mutual fund any time up to 4:00 p.m. are priced at that day’s net asset value (NAV), and or
    9·1 answer
  • Kornett Company during its first fiscal year ended December 31, 2016, Journalize the selected transactions, starting on page 21
    14·1 answer
  • Potter’s accountant believes the financial statements will be misleading if the probable loss contingency is not disclosed. How
    15·1 answer
  • On January 1, Whispering Winds Corp. had 62,600 shares of no-par common stock issued and outstanding. The stock has a stated val
    5·1 answer
  • Scott and Cindy both produce only pizza and tacos. In one hour, Scott can produce 20 pizzas or 40 tacos. In one hour, Cindy can
    7·1 answer
  • If cost of goods manufactured is $306,790, beginning work in progress inventory, $25,000, and cost to manufacture, $300,000, the
    14·1 answer
  • What is the highest level of message AWARENESS that can be reached with the UNIVERSITY STUDENT based on a selection(s) of POSITI
    15·1 answer
  • Which action could be an example of how the occupational safety and health administration plays a role in the legal environment
    6·1 answer
  • Meg invested $16,000 in a savings account. if the annual interest rate is 6%, how much will be in the account in 5 years for qua
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!