Homework Answers
Asset turnover = net Sales/Average assets
= 201550/105350
Asset turnover = 1.91
So answer is c) 1.91 Times
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Maple Corp had net sales of $201.550 for the year ended December 31, 2017 31, 2017. (Round your answer to two decima...
Maple Corp. had net sales of $204,550 for the year ended December 31, 2017. Its beginning...
Maple Corp. had net sales of $204,550 for the year ended December 31, 2017. Its beginning and ending total assets were $83,200 and $116,500, respectively. Determine Maple's asset turnover ratio for the year ended December 31, 2017. (Round your answer to two decimal places.) O A. 2.46 times B. 2.05 times C. 0.49 times O D. 1.16 times
Bahlman, Inc. had net sales of $53,600,000 for the year ended May 31, 2018. Its beginning...
Bahlman, Inc. had net sales of $53,600,000 for the year ended May 31, 2018. Its beginning and ending total assets were $56,800,000 and $89,200,000, respectively. Determine Bahlman's asset tumover ratio for year ended May 31, 2018. (Round the asset tumover ratio to two decimal places, X.XX.) Asset turnover ratio
QUESTION 19 During 2017. Sanchez Corp. had net sales of $16,400,000. The beginning total assets were...
QUESTION 19 During 2017. Sanchez Corp. had net sales of $16,400,000. The beginning total assets were $8,900,000. The asset turnover ratio was 1.7 times. Calculate the ending total assets of Sanchez $15,652,941 $10,394,118 58,900,000 $6,752,941
QUESTION 19 During 2017, Sanchez Corp. had net sales of $16,400,000. The beginning total assets were...
QUESTION 19 During 2017, Sanchez Corp. had net sales of $16,400,000. The beginning total assets were $8,900,000. The asset turnover ratio was 1.7 times. Calculate the ending total assets of Sanchez $15,652,941 $10,394,118 $8,900,000 $6,752,941
Suncor Energy Inc. reported the following information for the fiscal years ended December 31, 2017, and...
Suncor Energy Inc. reported the following information for the fiscal years ended December 31, 2017, and December 31, 2016 in millions 2017 2016 Net revenues $32,176 $26,968 Net earnings 4,458 445 Total assets, end of year 89,494 88,702 Total assets, beginning of year 88,702 77,527 Calculate Suncor's asset turnover and return on assets for the two years. (Round asset turnover to 2 decimal places, s. 52.76. and return on assets to 1 decimal place, eg. 52.7.) December 31, 2017 December...
The following information is available for Blue Spruce Corp. for the year ended December 31, 2017:...
The following information is available for Blue Spruce Corp. for
the year ended December 31, 2017:
Other revenues and gains
$12,000
Sales revenue
$603,000
Other expenses and losses
14,000
Operating expenses
203,300
Cost of goods sold
233,900
Sales returns and allowances
40,000
Other comprehensive income
5,900
We were unable to transcribe this imageBLUE SPRUCE CORP. Income Statement For the Year Ended December 31, 2017 - A We were unable to transcribe this image
BLOSSOM COMPANY Income Statements For the Years Ended December 31 2017 2016 Net sales Cost of...
BLOSSOM COMPANY Income Statements For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses $1,896,440 $1,756,400 1,011,900 744,500 484,900 259,600 1,064,440 832,000 505,900 326,100 Interest expense Income before income taxes Income tax expense Net income 24,100 302,000 94,100 $207,900 22,100 237,500 75,100 $162,400 BLOSSOM COMPANY Balance Sheets December 31 Assets 2017 2016 Current assets Cash Debt investments (short-term) Accounts receivable Inventory 60,100 64,200...
The following is information for Martinez Corp. for the year ended December 31, 2017: Net sales...
The following is information for Martinez Corp. for the year ended December 31, 2017: Net sales revenue $1,380,000 Loss on inventory due to decline in net realizable value (NRV) $84,000 Unrealized gain on FV-OCI investments 40,000 Loss on sale of equipment 40,000 Interest income 8,000 Depreciation expense related to buildings omitted by mistake in 2016 53,000 Cost of goods sold 828,000 Retained earnings at December 31, 2016 900,000 Selling expenses 69,000 Loss—other (due to expropriation of land) 63,000 Administrative expenses...
The following is information for Martinez Corp. for the year ended December 31, 2017: Net sales...
The following is information for Martinez Corp. for the year ended December 31, 2017: Net sales revenue $1,380,000 Loss on inventory due to decline in net realizable value (NRV) $84,000 Unrealized gain on FV-OCI investments 40,000 Loss on sale of equipment 40,000 Interest income 8,000 Depreciation expense related to buildings omitted by mistake in 2016 53,000 Cost of goods sold 828,000 Retained earnings at December 31, 2016 900,000 Selling expenses 69,000 Loss—other (due to expropriation of land) 63,000 Administrative expenses...
The following information is available for Riverbed Corp. for the year ended December 31, 2017: Other...
The following information is available for Riverbed Corp. for the year ended December 31, 2017: Other revenues and gains $10,800 Sales revenue $666,500 Other expenses and losses 14,500 Operating expenses 252,800 Cost of goods sold 191,300 Sales returns and allowances 40,000 Other comprehensive income 5,000 Prepare a multiple-step income statement for Riverbed Corp and comprehensive income statement. The company has a tax rate of 30%. This rate also applies to the other comprehensive income. RIVERBED CORP Comprehensive Income Statement For...
Maple Corp. had net sales of $204,550 for the year ended December 31, 2017. Its beginning and ending total assets were $83,200 and $116,500, respectively. Determine Maple's asset turnover ratio for the year ended December 31, 2017. (Round your answer to two decimal places.) O A. 2.46 times B. 2.05 times C. 0.49 times O D. 1.16 times
Bahlman, Inc. had net sales of $53,600,000 for the year ended May 31, 2018. Its beginning and ending total assets were $56,800,000 and $89,200,000, respectively. Determine Bahlman's asset tumover ratio for year ended May 31, 2018. (Round the asset tumover ratio to two decimal places, X.XX.) Asset turnover ratio
QUESTION 19 During 2017. Sanchez Corp. had net sales of $16,400,000. The beginning total assets were $8,900,000. The asset turnover ratio was 1.7 times. Calculate the ending total assets of Sanchez $15,652,941 $10,394,118 58,900,000 $6,752,941
QUESTION 19 During 2017, Sanchez Corp. had net sales of $16,400,000. The beginning total assets were $8,900,000. The asset turnover ratio was 1.7 times. Calculate the ending total assets of Sanchez $15,652,941 $10,394,118 $8,900,000 $6,752,941
Suncor Energy Inc. reported the following information for the fiscal years ended December 31, 2017, and December 31, 2016 in millions 2017 2016 Net revenues $32,176 $26,968 Net earnings 4,458 445 Total assets, end of year 89,494 88,702 Total assets, beginning of year 88,702 77,527 Calculate Suncor's asset turnover and return on assets for the two years. (Round asset turnover to 2 decimal places, s. 52.76. and return on assets to 1 decimal place, eg. 52.7.) December 31, 2017 December...
The following information is available for Blue Spruce Corp. for
the year ended December 31, 2017:
Other revenues and gains
$12,000
Sales revenue
$603,000
Other expenses and losses
14,000
Operating expenses
203,300
Cost of goods sold
233,900
Sales returns and allowances
40,000
Other comprehensive income
5,900
We were unable to transcribe this imageBLUE SPRUCE CORP. Income Statement For the Year Ended December 31, 2017 - A We were unable to transcribe this image
BLOSSOM COMPANY Income Statements For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses $1,896,440 $1,756,400 1,011,900 744,500 484,900 259,600 1,064,440 832,000 505,900 326,100 Interest expense Income before income taxes Income tax expense Net income 24,100 302,000 94,100 $207,900 22,100 237,500 75,100 $162,400 BLOSSOM COMPANY Balance Sheets December 31 Assets 2017 2016 Current assets Cash Debt investments (short-term) Accounts receivable Inventory 60,100 64,200...
The following information is available for Riverbed Corp. for the year ended December 31, 2017: Other revenues and gains $10,800 Sales revenue $666,500 Other expenses and losses 14,500 Operating expenses 252,800 Cost of goods sold 191,300 Sales returns and allowances 40,000 Other comprehensive income 5,000 Prepare a multiple-step income statement for Riverbed Corp and comprehensive income statement. The company has a tax rate of 30%. This rate also applies to the other comprehensive income. RIVERBED CORP Comprehensive Income Statement For...
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