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zhenek [66]
3 years ago
11

Suppose during 2014 that Federal Express reported the following information (in millions): net sales of $35,497 and net income o

f $98. Its balance sheet also showed total assets at the beginning of the year of $25,633 and total assets at the end of the year of $24,244. Calculate the asset turnover and return on assets. (Round answers to 2 decimal places, e.g. 6.25 or 17.54%.)
Business
2 answers:
irina [24]3 years ago
8 0

Answer:

Asset Turnover = $35,497 ÷ $ 24,938.5 = 1.42

Return on Assets: $98 ÷ 24,938.5 = 0.39%

Explanation:

  • Asset Turnover Ratio is an efficiency ratio indicate how well the company assets are utilized in order to generate sales revenue or sales income in $.

Formula: Net Sales ÷ Average Total Assets.

*Average Assets = (Opening Assets + Closing Assets) ÷ 2

So the average assets are: (25,633+24,244) ÷ 2 = 24,938.5

Asset Turnover = $35,497 ÷ $ 24,938.5 = 1.42

  • Return on Assets is a ratio that shows the percentage how profitable a company's assets are in generating revenue.

Formula: Net Income ÷ Total Average Assets.

Return on Assets: $98 ÷ 24,938.5 = 0.39%

Lorico [155]3 years ago
5 0

Answer:

Asset turnover 1.42

Return on assets 0.39%

Explanation:

Here, we are asked to calculate the asset turn over and the return on assets.

Mathematically;

Asset turnover = Net sales/Average total assets

Net sales = $35,497

average total assets = (25,633+24,244)/2 = 24938.5

Asset turnover = 35,497/24938.5 = 1.42

The return on assets can also be calculated mathematically.

mathematically, return on assets = Net income/Average total assets

Net income = $98

Average total assets = 24,938.5 from above

= 0.0039 or 0.39%

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1 year ago
________ are designed to stimulate thought about entrepreneurs' understanding and feelings as they progress through the entrepre
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Answer:

Reflection activities/tasks  

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3 years ago
Today, you sold 540 shares of stock and realized a total return of 6.3 percent. You purchased the shares one year ago at a price
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Answer:

B. 5.40 percent

Explanation:

Let today's price per share be $X

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Old value = $24 *540 = $12,960

Next, plug in the numbers to the formula;

0.063 = [ (540X + 117  - 12,960)/ 12,960 ]

0.063 = [\frac{540X-12,843}{12,960} ]

multiply both sides by 12,960;

0.063 *12,960 = 540X - 12,843

816.48 = 540X - 12,843

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816.48 + 12,843 = 540X

13,659.48 = 540X

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