Comparative figures for Apple and Google follow. Required 1. Compute total asset turnover for the most recent

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Comparative figures for Apple and Google follow.

Required

1. Compute total asset turnover for the most recent two years for Apple and Google using the data shown.

2. Which company is more efficient in generating net sales given the total assets it employs? Assume an industry average of 1.0 for asset turnover.

Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.

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Fundamental Accounting Principles

ISBN: 978-0077862275

22nd edition

Authors: John Wild, Ken Shaw, Barbara Chiappetta

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Question Posted: Apr 23, 2015 03:01 AM

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Comparative figures for Apple and Google follow. Required 1. Compute total asset turnover for the most recent

Question:

Apple Google One Year Prior Two Years Prior One Year Prior Two Years Prior Current Current Year (S millions) Year Total assets . Net sales $207000 $176,064 6,37 110,920 $93,798 $72,574 170,910 156,508 08,249 59,825 50,175 37,905

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Total asset turnover Net sales Average total assets 1 Total asset turnover for Apple mill...View the full answer

Fundamental Accounting Principles

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