Question
13.Barker, Inc. had reported the following details for the year ended December31, 2019: Net sales $25,950,000 Total assets 17,800,000 Total liabilities 11,200,000 Thecompany's beginning total
13.Barker, Inc. had reported the following details for the year ended December31, 2019:
Net sales $25,950,000
Total assets 17,800,000
Total liabilities 11,200,000
Thecompany's beginning total assets and liabilities were $15,300,000 and $9,100,000, respectively. Calculate the asset turnover ratio for 2019.(Round your answer to two decimalplaces.)
A.
2.23 times
B.
1.2 times
C.
1.65 times
D.
1.57 times
14.Industrial Equipment Supply is a new business. During its first year ofoperations, credit sales were $45,000 and collections of credit sales were $34,000. Oneaccount, $700, was written off. Management uses the agingofreceivables method to account for bad debts expense and estimated $575 as uncollectible at year end. The ending balance of the Allowance for Bad Debts is________.
A.
$1,350
B.
$1,275
C.
$575
D.
$ 650
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