Asset turnover ratio Financial statement data for years ended December 31, 20Y3 and 20Y2, for...
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Accounting
Asset turnover ratio
Financial statement data for years ended December 31, 20Y3 and 20Y2, for Edison Company follow:
Line Item Description 20Y3 20Y2 Sales $1,749,000 $1,512,000 Total assets: Beginning of year 770,000 670,000 End of year 820,000 770,000
a. Determine the asset turnover ratio for 20Y3 and 20Y2. Round answers to one decimal place.
Line Item Description 20Y3 20Y2 Asset turnover fill in the blank 1 fill in the blank 2
b. Is the change in the asset turnover ratio from 20Y2 to 20Y3 favorable or unfavorable?
FavorableUnfavorable
Asset turnover ratio
Financial statement data for years ended December 31, 20Y3 and 20Y2, for Edison Company follow:
| Line Item Description | 20Y3 | 20Y2 |
|---|---|---|
| Sales | $1,749,000 | $1,512,000 |
| Total assets: | ||
| Beginning of year | 770,000 | 670,000 |
| End of year | 820,000 | 770,000 |
a. Determine the asset turnover ratio for 20Y3 and 20Y2. Round answers to one decimal place.
| Line Item Description | 20Y3 | 20Y2 |
|---|---|---|
| Asset turnover | fill in the blank 1 | fill in the blank 2 |
b. Is the change in the asset turnover ratio from 20Y2 to 20Y3 favorable or unfavorable?
FavorableUnfavorable
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