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Asset turnover ratio Financial statement data for years ended December 31, 20Y3 and 20Y2, for Edison Company follow: 20Y3 20Y2 Sales $2,349,000 $1,957,500 Total assets:
Asset turnover ratio
Financial statement data for years ended December 31, 20Y3 and 20Y2, for Edison Company follow:
| 20Y3 | 20Y2 | |||
| Sales | $2,349,000 | $1,957,500 | ||
| Total assets: | ||||
| Beginning of year | 780,000 | 670,000 | ||
| End of year | 840,000 | 780,000 | ||
| a. | Determine the asset turnover ratio for 20Y3 and 20Y2. Round answers to one decimal place. |
| 20Y3 | 20Y2 | |||
| Asset turnover | ||||
| b. | Is the change in the asset turnover ratio from 20Y2 to 20Y3 favorable or unfavorable? |
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The Role Of Internal Auditing In A Federal Educational Institution Management Support And Decision Making Aid
Authors: Leonardo Gonçalves
1st Edition
6205061759, 978-6205061756
