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
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>

You might be interested in
Abc company is hesitant about entering ukraine, because the country has been experiencing social unrest in recent years. Based o
AysviL [449]

The answer is<u> "political risk".</u>


Political risk is among the most critical hazard factors confronting international investors. In many rising and frontier markets, the political circumstance is altogether less steady than the United States with the potential for across the board extortion and defilement.  

Political risks  are those related with changes that jump out at a nation's approaches administering organizations, and additionally outside elements that could influence organizations.

7 0
3 years ago
Traditional savings account typical minimum balance
Gwar [14]

Answer:

click the image

Explanation:

I hope it help.

4 0
3 years ago
At the end of Year 2, retained earnings for the Baker Company was $1,850. Revenue earned by the company in Year 2 was $2,100, ex
icang [17]

Answer

Retained earnings at the beginning of Year 2 was: $1,450

Explanation

Revenue = $2,100

Retained Earnings Closing Balance = $1,850

Expenses = $1,150

Dividends = $550

Retained Earnings Closing Balance = Revenue - Expenses - Dividends + Retained Earning Beginning Balance

$1,850 = $2,100 - $1,150 - $550 + Retained Earning Beginning Balance

Retained Earning Beginning Balance = $1,450

5 0
4 years ago
The goal of the accounts receivable methods is to adjust the Allowance for Doubtful Accounts balance so that multiple choice The
Nezavi [6.7K]

Answer:

The adjusted balance is equal to the estimate of the uncollectible accounts receivable.

Explanation:

Receivable in economics is simply whenbusiness sells goods or services to another party on account usually on credit. It is also known as a monetary claim usually against a business or an individual.

Accounts receivable

Is simply defined as the power to the right to receive cash in the future from customers for goods or services performed. They can be called claim of right, exchange consideration, and a claim for the future.

The supplementary record that contains information on each customer is the accounts receivable ledger.

The goal for the accounts receivable methods is to adjust the Allowance for Doubtful Accounts balance making the adjusted balance is equal to the estimate of the uncollectible accounts receivable.

7 0
3 years ago
If the price level doubled in a 23-year period, we can conclude that the average annual rate of inflation over that period was a
galina1969 [7]

The given statement " If the price level doubled in a 23-year period, we can conclude that the average annual rate of inflation over that period was about 3 percent " is TRUE

Explanation:

Though prices doubled during the 23 years, the average annual inflation rate during that time could be inferred by approximately 3 percent.

The average inflation rate in the USA has been 3% over the last 100 years. That said, in measuring shorter periods starting in the 1950s, the average rates are much higher.

Many financial experts working with pending pensioners emphasize the importance of contributing to pension scheming an average inflation rate. Since inflation will reduce the value of savings considerably, it is important to determine how and when this powerful economic phenomenon will affect the savings.

3 0
3 years ago
Other questions:
  • Sandra wilson is paid one and one-half times the regular hourly rate for all hours worked in excess of 40 hours per week and dou
    5·1 answer
  • Which of the following is usually used to connect a monitor to a computer?
    6·1 answer
  • In a perfectly competitive market, firms face no barriers to entry or exit.
    11·2 answers
  • Board Company has a foreign subsidiary that began operations at the start of 2017 with assets of 134,000 kites (the local curren
    11·1 answer
  • The annual statements that have to be submitted at the end of each financial year must contain an overview of the internal audit
    10·2 answers
  • Those dealing with appliance
    12·1 answer
  • Compared to a checking account, the rules governing your
    11·1 answer
  • You have a good friend from india who has done very well as after college. his work in telecommunications has landed him a job t
    7·1 answer
  • An appraiser prepared an appraisal report in April 2019. He testified in court regarding the value of the property in January 20
    8·1 answer
  • If the fed sells $5 billion of u. S. Bonds in the open market and the reserve requirement is 5 percent, m1 will eventually:.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!