The following data were included in a recent Apple Inc. annual report (in millions): Required: 1. Compute

Question:

The following data were included in a recent Apple Inc. annual report (in millions):

2013 2014 2015 2016 $233,7 15 $170,910 $182,795 $215,640 Net revenue Net property, plant, and equipment 22,471 16,600 20

Required:
1. Compute Apple’s fixed asset turnover ratio for 2014, 2015, and 2016. Round your answer to one decimal place.

2. During 2016, Microsoft reported a fixed asset turnover ratio of 5.2. Was Apple’s turnover better or worse than Microsoft’s in that year?

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.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 70% (10 reviews)

1 Fixed asset turnover ratio dollars in millions Net Sales Average Net Fixed Assets Fixed Ass...View the full answer

Answered By

Ashington Waweru

I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options. I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others. I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career. I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance. I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy. I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others. I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001. I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately. I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me. I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.

3.00+ 2+ Reviews 10+ Question Solved

Related Book For book-img-for-question

Fundamentals of Financial Accounting

ISBN: 978-1259864230

6th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

See More Books

Question Posted: Jul 16, 2019 02:05 PM

See More Questions

The following data were included in a recent Apple Inc. annual report (in millions): Required: 1. Compute

Question:

2013 2014 2015 2016 $233,7 15 $170,910 $182,795 $215,640 Net revenue Net property, plant, and equipment 22,471 16,600 20,624 27,010

Step by Step Answer:

1 Fixed asset turnover ratio dollars in millions Net Sales Average Net Fixed Assets Fixed Ass...View the full answer

Fundamentals of Financial Accounting

Students also viewed these Business questions