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
Sladkaya [172]
3 years ago
5

Financial statement data for years ending December 31, 2019 and 2018, for Edison Company follow: 2019 2018 Sales $513,500 $480,0

00 Total assets: Beginning of year 360,000 280,000 End of year 430,000 360,000 a. Determine the asset turnover for 2019 and 2018. Round your answers to one decimal place.
Business
1 answer:
madam [21]3 years ago
5 0

Answer:

The answer is

For 2018 - 1.5

For 2019 - 1.3

Explanation:

Asset turnover ratio=Net sales/average total assets

For 2018:

Sales - $480,000

Beginning asset - 360,000

Ending asset -360,000

Average total asset:

($280,000 + $360,000)/2

=$320,000

Therefore, asset turnover for 2018 is:

$480,000/$320,000

=1.5

For 2019:

Sales - $513,500

Beginning asset - $360,000

Ending asset - $430,000

Average total asset:

($360,000 + $430,000)/2

=$395,000

Therefore, asset turnover for 2019 is:

$513,500/$395,000

=1.3

You might be interested in
Taxpayers have been able to deduct ______ of their salt taxes from their ______ tax liability.
siniylev [52]

Taxpayers have been able to deduct <u>100%</u> of their salt taxes from their <u>federal </u>tax liability.

A taxpayer can be an individual or business entity that is obligated to pay taxes to a federal, nation, or nearby government. Taxes from each individual and organization are a primary supply of revenue for governments. people and agencies have different annual profits and tax obligations.

A taxpayer is someone or corporation challenged to pay a tax. modern-day taxpayers can also have an identification variety, a reference range issued by using a central authority to citizens or corporations. The time period "taxpayer" normally characterizes one who can pay taxes.

Report returns and pays taxes on time. provide correct statistics on tax returns. Substantiate claims for a refund. Pay all taxes on time after closing an enterprise, and request cancellation of the tax account.

Learn more about the Taxpayers here: brainly.com/question/26316390

#SPJ1

4 0
2 years ago
Read 2 more answers
What is one typical effect of growth for a business?
stepan [7]

Answer: The advantages would be efficiency and accountability; the disadvantages would be resource hoarding and low quality.

Explanation: There will be more trust between workers and indivuals, more accountability as well.

3 0
3 years ago
The Milestone Decision Authority is responsible for establishing the Critical Operational Issues (COIs) that will be addressed i
masya89 [10]

Answer:

False

Explanation:

6 0
3 years ago
The clause in an accident and health policy which defines the benefit amounts the insurer will pay is called the:
ANTONII [103]
The clause in an accident and health policy which defines the benefit amounts the insurer will pay is called the Insuring clause.
Insuring clause is a provision in an insurance policy that stipulates the risks assumed by the insurer. The insurer agrees to pay on behalf of the insured all sums that the insured shall become legally obligated to pay as damages because of bodily injury, sickness or disease, wrongful death, or injury to another person's property. 
5 0
4 years ago
As the chief financial officer (CFO), you identify that your firm needs to raise additional funds by selling new shares of stock
const2013 [10]

Answer:A) an investment banker

Explanation: An investment banker is an individual who often works as part of a financial institution and is primarily concerned with raising capital for corporations, governments, or other entities.

3 0
4 years ago
Other questions:
  • Many telecom firms began digging up the ground and laying webs of fiberglass to meet the growing demand for Internet connectivit
    13·1 answer
  • Equipment with a cost of​ $150,000 has an accumulated depreciation of​ $50,000. what is the historical cost of the​ equipment?
    14·1 answer
  • At the Penalty APR rate of 28.99% and a balance of about $1800, approximately how much interest would you owe in one month?
    8·1 answer
  • Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost
    5·1 answer
  • The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July 31, 2019: Number of Days Unpaid
    8·1 answer
  • The standard rate of pay is $12 per direct labor hour. if the actual direct labor payroll was $47,040 for 4,000 direct labor hou
    6·2 answers
  • Consider the case of another company. Turnkey printing is evaluating two mutually exvlusive projects. They both require $1 milli
    14·1 answer
  • On November 1, 2021, New Morning Bakery signed a $207,000, 6%, six-month note payable with the amount borrowed plus accrued inte
    15·1 answer
  • If the United States imposed a 25 percent tariff on imports of minivans, the effect would be to Select one: a. raise the price a
    14·1 answer
  • Explain why studying economics is important. What are some consequences of bad economic thinking by governments, businesses, and
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!