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
laila [671]
3 years ago
6

During 2020, Whispering Winds Corp. reported net sales of $4,502,400 and net income of $1,510,000. Its balance sheet reported av

erage total assets of $1,680,000. Calculate the asset turnover. (Round answer to 2 decimal places, e.g. 1.25.)
Business
1 answer:
amid [387]3 years ago
3 0

Answer:

2.68

Explanation:

Data provided in the question:

Reported net sales = $4,502,400

Reported net income = $1,510,000

Reported average total assets = $1,680,000

Now,

The the asset turnover is calculated using the formula as

Asset turnover = ( Net sales ) ÷ ( Average total assets )

or

Asset turnover = $4,502,400 ÷ $1,680,000

or

Asset turnover = 2.68 times

You might be interested in
Enviro Company issues 8%, 10-year bonds with a par value of $250,000 and semiannual interest payments. On the issue date, the an
vichka [17]

Answer: 1. $218750 ; 2. $231, 250 ; 3. $11562.50

Explanation:

1. The bonds with a par value of $250,000 and implied selling price of 87 ½.

Cash proceed = 250,000 × 87.5%

= $218,750

2. Since it's semiannual interest payments, the total amount of bond interest expense that will be recognized over the life of these bonds will be:

[20 × (250,000 × 8% × 6/12)]+ $250,000 - $218,750

= $200,000 + $250,000 - $218,750

= $231, 250

3. The amount of bond interest expense recorded on the first interest payment date will be:

= Total bond interest expense/number of payments

= $231,250/20

= $11562.50

5 0
3 years ago
After the civil war, what became the major form of business organization because of its ability to raise money through the sale
Illusion [34]
After the civil war, CORPORATION became the major form of business organization because of its ability to raise money through the sale of shares of stock. A corporation is a type of business that is owned by stockholders who share its profits but are not personally responsible for its debts.
7 0
3 years ago
Question 3 of 20
Nat2105 [25]
I think that the answer would be D
5 0
3 years ago
Topdog is a toy company, whose profit/sales percentage is 13% in 2015, 16% in 2016 and 20% in 2017. Assuming simple trend, what
elixir [45]

Answer:

25%

Explanation:

Using simple trend, to calculate the predicted sales/profit of 2018, we use;

(percentage sales of 2017 - percentage sales of 2016) ÷ percentage sales of 2016.

we have,

percentage sales in 2018 = <u>20 - 16</u>

                                              16

                                        =  <u>4</u>

                                           16

                                       = 0.25.

Percentage sales in 2018 = 25% i.e 0.25 x 100%

Cheers.

6 0
3 years ago
1.
Ksenya-84 [330]

Answer:

i dont know

Explanation:

and i dont care

8 0
3 years ago
Other questions:
  • Which of the following industries have been deregulated in recent years
    15·2 answers
  • A central question that must be addressed in bankruptcy proceedings is whether the firm's inability to meet scheduled interest p
    11·1 answer
  • When a transaction requires only a _____, there is not any actual proof that a particular person conducted that transaction. Gro
    13·1 answer
  • ​if, when a firm doubles all its​ inputs, its average cost of production​ increases, then production displays
    6·1 answer
  • In an e-business innovation cycle, after an organization scans the environment for new emerging and enabling technologies, the n
    14·2 answers
  • You are comparing two annuities. Annuity A pays $100 at the end of each month for 10 years. Annuity B pays $100 at the beginning
    12·1 answer
  • Select the best definition for simple interest rates. Group of answer choices A percentage of the principal borrowed Interest th
    14·1 answer
  • The great sphinx is thought to be a portrait of __________.
    11·1 answer
  • You are currently getting 26 sales opportunities per day and closing 64% of them. Employee: Wow, I am closing __________ sales o
    5·1 answer
  • How could the adoption of blockchain within a supply chain help the world become more sustainable and, in some cases, eco-friend
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!