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Mama L [17]
3 years ago
9

At the beginning of the year, Carson Company reported total current assets of $658,000 and total assets of $2,450,000. Carson re

ported sales of $6,000,000 for the year. At the end of the year, Carson reported total current assets of $790,000 and total assets of $2,800,000. Compute the total asset turnover.
a. 2.45
b. 2.29
c. 8.29
d. 2.14
Business
1 answer:
ehidna [41]3 years ago
4 0

Answer:

Total Asset Turnover: 2.2857

Explanation:

                           <u>Total Assets</u>    

       

Begininng Balance           2,450,000        

       

Ending Balance              2,800,000          

       

Period activity                      350,000    

       

<u>Sales:</u> 6,000,000      

       

<em><u>Total Asset Turnover</u></em>:          <u>         </u><em><u> Sales   </u></em>

<em>                                               Average Total Assets</em>

<u>                  6,000,000               </u>

( 2,450,000 + 2,800,000 )  / 2

=

<u>6,000,000</u>

2,625,000

=

<u>2.2857</u>

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