For 2020, Sale Company reported beginning total assets of $300,000 and ending total assets of $340,000. Its
Question:
For 2020, Sale Company reported beginning total assets of $300,000 and ending total assets of $340,000. Its net income for this period was $50,000, and its net sales were $400,000. Compute the company’s asset turnover for 2020.
Asset TurnoverAsset 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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400000 300000 340000 2 125 times ...View the full answer
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Related Book For 
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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