A company reports the following:Sales................................$2,400,000Average total assets (excluding long-term investments)......1,500,000?Determine the asset turnover ratio. Round your answer to one decimal place.

Question

A company reports the following:Sales................................$2,400,000Average total assets  (excluding long-term investments)......1,500,000?Determine the asset turnover ratio. Round your answer to one decimal place.

Mohamad Firdaus Suhailal · Accepted Answer

Final Answer : Asset Turnover Ratio = Sales/Average Total AssetsAsset Turnover Ratio = $2,400,000/$1,500,000Asset Turnover Ratio = 1.6

A company reports the following:
Sales................................$2,400,000
Average total assets (excluding long-term investments)......1,500,000?
Determine the asset turnover ratio. Round your answer to one decimal place.

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Learning Objectives

Related questions

A company reports the following:Sales................................$2,400,000Average total assets (excluding long-term investments)......1,500,000? Determine the asset turnover ratio. Round your answer to one decimal place.

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Learning Objectives

Learning Objectives

Related questions

A company reports the following:
Sales................................$2,400,000
Average total assets (excluding long-term investments)......1,500,000?
Determine the asset turnover ratio. Round your answer to one decimal place.