Pizza, Inc. provides the following dа ta:
2019 2018
Assets
Current Assets:
Cash and Cash Equivalents $30,000 $25,000
Accounts Receivable, Net 37,000 62,000
Merchandise Inventory 59,000 50,000
Total Current Assets $126,000 137,000
Property, Plant, and Equipment, Net $124,000 120,000
Total Assets $250,000 $257,000
For the year ending December 31, 2019:
Net Credit Sales $510,000
Cost of Goods Sold (160,000)
Gross Profit $350,000
Calculate the asset turnover ratio for 2019. There are no cash sales. (Round your answer to two decimal places.)
a. 2.01 times
b. 4.05 times
c. 1.01 times
d. 0.64 times
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Pizza, Inc. provides the following dа ta: 2019 2018 Assets Current Assets: Cash and Cash Equivalents $30,000 $25,000 Accounts ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
A third party is: a. The party to which a contractual agreement is meant to benefit. b. A person, or persons, who are unintentionally affected by a market transaction. c. The third person in a three-way contract. d.
Answers (1)
Global Shipping Corporation and Harbor Warehouse Company transfer their property toInvestment Managers, Inc., which manages the property and distributes the profits to GlobalShipping and Harbor Warehouse.
Answers (1)
Use the information for the question (s) below. The Sisyphean Company has a bond outstanding with a face value of $1000 that reaches maturity in 15 years.
Answers (1)
If you need to set up a direct deposit which information from your check would you most likely need
Answers (1)
Tiptoe Shoes, had annual revenues of $193,000, expenses of $107,700, and paid dividends of $21,200 during the current year. The retained earnings account before closing had a balance of $305,000.
Answers (1)
New Questions in Business
The market value of Firm L's debt is $200,000 and its cost of debt is 7%. The firm's equity has a market value of $400,000, its earnings are growing at a 4% rate, and its tax rate is 40%. A similar firm with no debt has a cost of equity of 12%.
Answers (1)
Owners of the restaurant in A. anticipate that in one year their demand will double as long as they can provide good service to their customers. How much will they have to increase their service capacity to stay out of the critical zone?
Answers (1)
Balance sheet and income statement data indicate the following: Bonds payable, 11% (due in 15 years) $1,023,237 Preferred 8% stock, $100 par (no change during the year) $200,000 Common stock, $50 par (no change during the year) $1,000,000 Income
Answers (1)
The pricing function is an integral part of the companies :
Answers (1)
A company calculates the value of inventory by using the lower-of-market valuation method. which value should the company report for the inventory item for the period?
Answers (1)