Tinker’s 2011 cost of goods sold was $750,000 and 2010 cost of goods sold was $770,000. The inventory at the end of 2011 was $188,000 and was $208,000 at the end of 2010. 2011 Net sales was $1,150,000 for 2011, a 5% increase over 2010. What was Tinker’s inventory turnover for 2011? A. 3.79 B […]
Which of the following statements is false? A. A decrease in the asset turnover ratio results in a decrease in the return on assets ratio. B. An increase in average total assets results in a decrease in both the asset turnover ratio and return on assets ratio. C. A decrease in the asset turnover ratio […]
Which of the following describes the effect of recording depreciation expense at year-end? Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”
Which of the following describes the effect of recording depreciation expense at year-end? A Net income decreases and total assets aren’t affected. B Total assets decrease and stockholders’ equity is not affected. C Net income decreases and total assets decrease. D Stockholders’ equity is not affected and net income decreases. Looking for a Similar […]
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