Question
Practice Do It! Review 02 For 2020, Pharoah Company reported beginning total assets of $385,000 and ending total assets of $312,000. Its net income for
Practice Do It! Review 02
For 2020, Pharoah Company reported beginning total assets of $385,000 and ending total assets of $312,000. Its net income for this period was $43,000, and its net sales were $455,000. Compute the companys asset turnover for 2020. (Round answer to 2 decimal places, e.g. 1.25.)
| Asset turnover | times |
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
14th Edition
978-0132960649, 132960648, 132109174, 978-0132109178
