Exhibit 4.1
The balance sheet and income statement shown below are for Koski Inc.Note that the firm has no amortization charges,it does not lease any assets,none of its debt must be retired during the next 5 years,and the notes payable will be rolled over.
-Refer to Exhibit 4.1.What is the firm's total assets turnover? Do not round your intermediate calculations.

Question

Exhibit 4.1
The balance sheet and income statement shown below are for Koski Inc.Note that the firm has no amortization charges,it does not lease any assets,none of its debt must be retired during the next 5 years,and the notes payable will be rolled over. 
-Refer to Exhibit 4.1.What is the firm's total assets turnover? Do not round your intermediate calculations.

Quizplus · Accepted Answer

Total assets turnover is calculated as sales divided by total assets. In this case, sales are $20,000 and total assets are $13,333 + $8,000 + $1,667 = $23,000. Therefore, total assets turnover is $20,000 divided by $23,000, which equals 1.50. So, the best choice is C.

Exhibit 4.1 the Balance Sheet and Income Statement Shown Below Are for Are