Bradford Company had sales of $700,000 for a year. The total assets at the beginning of the year were $240,000, and the total assets at the end of the year were $280,000. The asset turnover ratio is (round answer to 2 decimal places)

A) 2.69
B) 0.40
C) 2.92
D) 0.34

Question

Gerardo Gonzalez · Accepted Answer

Final Answer : A, Explanation :Average total assets = (Beginning total assets + Ending total assets) / 2 = ($240,000 + $280,000) / 2 = $260,000Asset turnover ratio = Sales / Average total assets = $700,000 / $260,000 = 2.69?

Bradford Company had sales of $700,000 for a year. The total assets at the beginning of the year were $240,000, and the total assets at the end of the year were $280,000. The asset turnover ratio is (round answer to 2 decimal places)

A) 2.69
B) 0.40
C) 2.92
D) 0.34

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Learning Objectives

Related questions

Bradford Company had sales of $700,000 for a year. The total assets at the beginning of the year were $240,000, and the total assets at the end of the year were $280,000. The asset turnover ratio is (round answer to 2 decimal places) A) 2.69B) 0.40C) 2.92D) 0.34

Definitions

Learning Objectives

Learning Objectives

Related questions

Bradford Company had sales of $700,000 for a year. The total assets at the beginning of the year were $240,000, and the total assets at the end of the year were $280,000. The asset turnover ratio is (round answer to 2 decimal places)

A) 2.69
B) 0.40
C) 2.92
D) 0.34