Question

The asset turnover from the following is: (Round to nearest tenth)
Gross Sales $70,000
Sales Discount $2,500
Sales returns and allowances $8,000
Total assets $39,000

Answer 1

You subtract Sales return and allowances and Sales discount from Total assets and add Gross sales. Okay? @loop1234

Answer 2

what? @uri

Answer 3

That would give me $76,600?

Answer 4

That is no where near my answer choices. That's why I am so confused.
@uri

Answer 5

Hold on.

Answer 6

It's been a year to me doing Accounting....ugh.

Answer 7

ok @uri

Answer 8

These are my answer choices maybe this will ring a bell
A. 117 percent
B. 116 percent
C. 118 percent
D. 119 percent
None of the Above