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scoundrel [369]
3 years ago
7

Snap Dragon Photo reported the following figures on its December 31, 2016, income statement and balance sheet:Net Sales $440,000

Dec 31 2016 Dec 31 2015Cash $26,000 $28,000Accounts Receivable 56,000 58,000Merchandise Inventory 79,000 76,000Prepaid Expenses 8,000 14,000Property, plant and equipment, net 180,000 11,000Compute the asset turnover ratio for 2016.
Business
1 answer:
siniylev [52]3 years ago
3 0

Answer:

Assets turnover ratio= 1.64 times

Explanation:

The asset turnover is the he amount of sales generated by one dollar invested in asset. it measures how efficient the business is in generating sales using assets

Assets turnover ratio = net sales / Average assets

<em>Asset at the beginning of year 2016</em>

=26,000  + 56,000 +    79,000 +     8,000  + 180,000 = 349 ,000

<em>Asset at the end of year 2016</em>

$28,000  + 58,000 +    76,000  +  14,000 +  11,000= 187 ,000

Average assets = Opening value of asset+ closing value of assets/2

= 349 ,000 + 187 ,000= 268 ,000

Assets turnover ratio = net sales / Average assets

=440000/268,000= 1.64 times

Assets turnover ratio= 1.64 times

Total assets =

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Present value= $20,227.45

Explanation:

Giving the following information:

On Date 1, the cash flow is 5,000 dollars. On Date 2, the cash flow is 6,000 dollars. On Date 3, the cash flow is 7,000 dollars. On Date 4, the cash flow is 8,000 dollars. The current market rate of interest is 10​%.

We need to use the following formula:

PV= FV/(1+i)^n

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JTL has 148,000 shares of stock outstanding. The firm has extra cash so it announced this morning that it is willing to repurcha
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A tender offer.

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Which statement about game rules is NOT true? A. Without rules, there is no competition. B. Competitors should accept penalties
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7 0
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In order to be successful in business, one needs a good financial plan. This plan will predict the revenue that the company should be earning in order to make profit.

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Find out more on business finance at brainly.com/question/1265337.

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Option B is the correct answer.

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