Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. during 2018, landers corp. had net sales of $17,00

During 2018, Landers Corp. had net sales of $17,000,000. The beginning total assets were $8,600,000....

90.2K

Verified Solution

Question

Accounting

During 2018, Landers Corp. had net sales of $17,000,000. The beginning total assets were $8,600,000. The asset turnover ratio was 1.5 times. Calculate the ending total assets of Landers. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)

A)14,266,667

B)5,666,667

C)14,066,666

D)8,600,000

The correct answer was C. Can someone explain how to get this?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Consider the function below. f(x) = ex 3 + ex Find the interval(s) where the function is decreasing. (Enter your...

Basic Math
Q

What price do farmers get for their watermelon crops? In the third week of July, a...

Statistics
Q

Two identical conducting spheres one having an initial charge Q and the other initially uncharged...

Physics
Q

Energy in SHM: If we double only the mass of a vibrating ideal mass-and-spring system,...

Physics
Q

Find the surface area of a sphere with radius r 9 in S A in...

Geometry
Q

Factor fully 4x 12 o x 4 x 3 o x 9 x 5 x...

Basic Math
Q

TRUE OR FALSE only contingencies that are probable and can be estimated are recorded as...

Accounting
Q

The following information is available for Maher Manufacturing Company. -- Direct materials price standard is...

Accounting
Q

\table[[,First Quarter,Second Quarter,Third Quarter Fourth Quarter,Total,],[Sales revenue,$186,000,$216,000,$226,000,$276,000,$904,000

Accounting
Q

The expense recognition (matching) principle requires that expenses get recorded in the same accounting period...

Accounting
Q

Net sales $4,700 Cash $ 840 Accounts payable $ 790 Less: Cost of goods sold...

Finance
Q

a) Your company, CSUS Inc., is considering a new project whose data are shown below....

Finance