FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The profit after tax of Starscream Trade Ltd. for 2019 is $90,000. Some financial ratios for the year are shown in the table below: Return

image text in transcribed

The profit after tax of Starscream Trade Ltd. for 2019 is $90,000. Some financial ratios for the year are shown in the table below: Return on assets (ROA) 0.12 Asset turnover ratio (times) 4 Gross profit margin 0.26 Ending inventory $35,000 What is the inventory turnover times for the company in 2019? Type your answer in number only in the box below. Round your answer to one decimal place if necessary

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Information For Decisions

Financial Accounting Information For Decisions

Authors: Robert w Ingram, Thomas L Albright

6th Edition

9780324313413, 324672705, 324313411, 978-0324672701

More Books

Students also viewed these Accounting questions

Question

★★★★★
The following table indicates the market share for LCD televisions in the fourth quarter of 2011. Brand Market Share % Samsung .. 23.6 Vizio . 15.4 LG . 12.4 Sony 8.0 Toshiba . 7.8 Construct a...

Answered: 1 week ago

Question

★★★★★
ST-2. You purchase a boat for $35,000 and pay $5,000 down and agree to pay the rest over the next 10 years in 10 equal annual payments that include principal payments plus 13 percent of compound...

Answered: 1 week ago

Question

★★★★★
5. Refer to Figure 6.1b and assume that price is fixed at $37,000 and that Buzzer Auto needs 5 workers for every 1 automobile produced. If demand is DM and Buzzer wants to perfectly match its output...

Answered: 1 week ago

Question

★★★★★
For several years, Dolphin Co.s sales have been on a cash only basis. On January 1, 2009, however, Dolphin Co. began offering credit on terms of n/30. The amount of the adjusting entry to record the...

Answered: 1 week ago

Question

★★★★★
The profit after tax of Starscream Trade Ltd. for 2019 is $90,000. Some financial ratios for the year are shown in the table below: Return on assets (ROA) 0.12 Asset turnover ratio (times) 4 Gross...

Answered: 1 week ago

Question

★★★★★
Would love the help of this question thank you!

Answered: 1 week ago

Question

★★★★★
Cathy's Wine Scenario In September 2015, Cathy Burgundy (a fine wine merchant and the owner of "Melbourne's Finest Wines" in Melbourne) responded to a brochure sent by a French champagne supplier,...

Answered: 1 week ago

Question

★★★★★
You are considering investing $1,000 in a complete portfolio. The complete portfolio is composed of Treasury bills that pay 5% and a risky portfolio. P. constructed with two risky securities. X and...

Answered: 1 week ago

Question

★★★★★
Min-Jun and Min-Suh want to contribute $120,000 to a 529 plan for the benefit of their new grandchild. If done shortly after the birth of the child, with a 7.00 percent annual return and no other...

Answered: 1 week ago

Question

★★★★★
Delcom ltd is planning to introduce a new product. Market research information suggest that the product should sell 100,000 units over its lifecycle at a price of Ksh 420 per unit. The company seeks...

Answered: 1 week ago

Question

★★★★★
Question 7 0 out of 6 points If the physical count of the inventory revealed $216,000 of merchandise on hand and the inventory records reported $225,000, what would be the necessary adjusting entry...

Answered: 1 week ago

Question

★★★★★
Discuss the two ways in which emotion can affect the way in which marketing communication is processed.

Answered: 1 week ago

Question

★★★★★
What is the difference between semantic and episodic memory? Find examples of advertising that are likely to involve each.

Answered: 1 week ago

Question

★★★★★
What is the role of learning in building brand awareness?

Answered: 1 week ago

Previous Question Next Question