Horngren's Financial & Managerial Accounting, The Financial Chapters (Book & Access Card)
5th Edition
ISBN: 9780134078939
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 9, Problem 9QC
Liberty Corporation reported beginning and ending total assets of $25,000 and $22,000, respectively. Its net sales for the year were $18,800. What was Liberty's asset turnover ratio?
a. 0.7 5
b. 0.85
c. 0.80
d. 1.25
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Students have asked these similar questions
Liberty Corporation reported beginning and ending total assets of $25,000 and $22,000, respectively. Its net sales for the year were $18,800. What was Liberty’s asset turnover ratio?
a. 0.75
b. 0.85
c. 0.80
d. 1.25
Liberty Corporation reported beginning and ending total assets of $25,000 and $22,000, respectively. Its net sales for the year were $18,800. What was Liberty’s asset turnover ratio?
0.75
0.85
0.80
1.25
Right Company reported beginning and ending total assets of $36,000 and $30,000, respectively. Its net sales
revenue for the year were $26,070. What was Right's asset turnover ratio?
A. 0.87
OB. 1.27
OC. 0.79
OD. 0.72
Chapter 9 Solutions
Horngren's Financial & Managerial Accounting, The Financial Chapters (Book & Access Card)
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