Ratios: Total Asset Turnover Video Lessons

Concept

# Problem: The net sales for the year total $4,000,000 and the December 31 cash balance is$50,000. Assets totaled $600,000 at the beginning of the year and$1,000,000 at the end of the year. What is the total asset turnover? A.4.00 B.4.40 C.5.00 D.6.51 E.None of the above

###### Problem Details

The net sales for the year total $4,000,000 and the December 31 cash balance is$50,000. Assets totaled $600,000 at the beginning of the year and$1,000,000 at the end of the year. What is the total asset turnover?

A.4.00

B.4.40

C.5.00

D.6.51

E.None of the above