Select your language

Suggested languages for you:
Log In Start studying!
Answers without the blur. Just sign up for free and you're in → Illustration

Q14SE

Expert-verified
Horngren'S Financial And Managerial Accounting
Found in: Page 528

Short Answer

Computing the asset turnover ratio Biagas, Inc. had net sales of $55,600,000 for the year ended May 31, 2018. Its beginning and ending total assets were $52,800,000 and $98,500,000, respectively. Determine Biagas’s asset turnover ratio for year ended May 31, 2018.

Asset turnover ratio is 0.7349.

See the step by step solution

Step by Step Solution

Step 1 Meaning of Asset Turnover Ratio

Asset Turnover ratio defines as its measures the amount of net sales generated for each average dollar with the amount of total assets which have been invested.

Step 2: Calculation of Asset turnover ratio for year ended May 31st, 2018

Most popular questions for Business-studies Textbooks

Icon

Want to see more solutions like these?

Sign up for free to discover our expert answers
Get Started - It’s free

Recommended explanations on Business-studies Textbooks

94% of StudySmarter users get better grades.

Sign up for free
94% of StudySmarter users get better grades.