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Home Q & A Board Other Fields Homework Help Business Accounting
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tori.warner tori.warner
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5 years ago
Seidner, Inc. provides the following data:

20172016
Assets
Current Assets:
     Cash and Cash Equivalents$29,000$25,000
     Accounts Receivable, Net33,00062,000
     Merchandise Inventory53,00050,000
Total Current Assets$115,000137,000
Property, Plant, and Equipment, Net$120,000120,000
Total Assets$235,000$257,000

Net Credit Sales$540,000
Cost of Goods Sold(160,000)
Gross Profit$380,000

Calculate the asset turnover ratio for 2017. (Round your answer to two decimal places.)
A) 4.70 times
B) 1.10 times
C) 0.68 times
D) 2.20 times
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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hnm123hnm123
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5 years ago
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tori.warner Author
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5 years ago
Brilliant ツ
deathDoUsPart
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Helped a lot
jbag1237
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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