Q-4. Canenas Marketing Company has the following adjusted trail balance at the end of the current year. Cash dividends at $600 were declared at end of the year, and 500 additional shares of common stock ($.10 per value) were issued at the end of the year for $3,000 in cash (For a total at the end of the year of 800 shares). These effects are below.

Adjusted Trail Balance (?)

End of the current year (?)

debit credit

Cash 1,500

Account receivable 2,200

Interest receivable 100

Prepaid Insurance 1,600

Long-term notes receivable 2,800

Equipment 15,290

Accumulated depreciation 3,000

Accounts payable 2,400

Dividends payable 600

Accrued expense payable 3,920

Income taxs payable 2,700

Unearned rent revenue 500

Common stock (800 shares) 80

Additional paid in capital 3,620

Retained Earning 1,400

Sales revenue 38,500

Interest revenue 100

Rent revenue 800

Wages expense 19,500

Depreciation expense 1,800

Compute total assets for Catenas Marketing Company based on the adjusted trail balance

Total Assets { $20,490 }

b. was compute the companys total asset turnover for the current year, assuming total assets at the end of the prior year were $16,050.

Total Asset Turnover

Choose Numerator / Choose Denominator = Total asset turnover

a / = Total asset turnover

b / =