Atlas Company provided the following information for last year:

- Calculate Atlas's turnover ratio for last year.(Note: Round answer to two decimal places.)

A) 2.15
B) 0.46
C) 0.55
D) 0.32
E) 0.10

Question

Atlas Company provided the following information for last year:

-  Calculate Atlas's turnover ratio for last year.(Note: Round answer to two decimal places.)
 
A) 2.15 
B) 0.46 
C) 0.55 
D) 0.32 
E) 0.10

Quizplus · Accepted Answer

Turnover = Sales / Average Operating Assets
Turnover = Sales / [(Beginning operating assets + Ending operating assets) / 2]
= $235,000 / [($410,000 + $440,000) / 2] = 0.55

Atlas Company Provided the Following Information for Last Year