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algol13
3 years ago
13

Campbell Co. has net sales revenue of $1,320,000, cost of goods sold of $760,700, and all other expenses of $297,000. The beginn

ing balance of stockholders' equity is $407,000 and the beginning balance of fixed assets is $368,000. The ending balance of stockholders' equity is $607,000 and the ending balance of fixed assets is $396,000. The fixed asset turnover ratio is closest to:
Business
1 answer:
olasank [31]3 years ago
7 0

Answer:

3.46

Explanation:

Calculation for Campbell Co. fixed asset turnover ratio

First step is to find the Average net fixed assets

Using this formula

Average Fixed assets= Fixed assets Beginning balance +Fixed assets ending balance /2

Let plug in the formula

Average Fixed assets= $368,000 + $396,000/ 2

Average Fixed assets=$764,000/2

Average Fixed assets=$382,000

Second step is to calculate for the Fixed asset turnover

Using this formula

Fixed asset turnover = Net revenue ÷ Average net fixed assets

Let plug in the formula

Fixed asset turnover= $1,320,000 ÷ $382,000

Fixed asset turnover= 3.46

Therefore Campbell Co. fixed asset turnover ratio will be 3.46

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The correct answer is option A.

Explanation:

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5 0
3 years ago
Is giving a speech on job specialization for her business class. She will most likely tell the class that one of the reasons for
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Answer D.

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3 years ago
Discounting cash flows involves
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6 0
3 years ago
The classic quote from the movie Field of Dreams, "If you build (produce] it
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6 0
3 years ago
On its December 31, 2017, balance sheet, Calgary Industries reports equipment of $390,000 and accumulated depreciation of $78,00
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Answer:

For equipment = $430,000

For accumulated depreciation = $104,000

Explanation:

The solution of balances for equipment and accumulated depreciation is shown below:-

balances for equipment and accumulated depreciation

Particulars              Equipment            Accumulated depreciation

Beginning balance $390,000            $78,000

Add:

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3 years ago
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