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Y_Kistochka [10]
2 years ago
13

During 2020, Flint Corporation reported net sales of $5,490,000 and net income of $1,320,000. Its balance sheet reported average

total assets of $1,500,000. Calculate the asset turnover.
Business
1 answer:
koban [17]2 years ago
5 0

Answer:

The asset turnover is 3.66 times

Explanation:

Asset Turnover is the efficiency rate of the assets of the business to generate revenue for the business. It shows how efficiently the assets of the business are used to generate revenue for the business.

Formula for Asset turnover is as follow

Asset Turnover = Net sales / Average total assets

Asset Turnover = $5,490,000 / $1,500,000

Asset Turnover = 3.66 times

It means that the sale for the period is generated to 3.66 times of average total asset of the business.

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Answer:

<em>Consider the assets (in millions) of two banks, A and B. Both banks are funded by $120 million in deposits and $20 million in equity. Which bank has the stronger liquidity position? Which bank probably has a higher profit?</em>

<em>Consider the assets (in millions) of two banks, A and B. Both banks are funded by $120 million in deposits and $20 million in equity. Which bank has the stronger liquidity position? Which bank probably has a higher profit?Bank A Asset</em>

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X Company has two production departments, A and B. The following is budgeted information for all of its products in 2019, and ac
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Answer:

Explanation:

Overhead allocated to Product X = Department A overhead cost+ Department B overhead cost

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