Campbell Co

question 59

Multiple Choice

Campbell Co.has net sales revenue of $1,000,000,cost of goods sold of $680,000,and all other expenses of $232,000.The beginning balance of stockholders' equity is $320,000 and the beginning balance of fixed assets is $288,800.The ending balance of stockholders' equity is $480,000 and the ending balance of fixed assets is $311,200.The fixed asset turnover ratio is closest to:

• A)0.53.
• B)2.50.
• C)3.33.
• D)0.80.

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Definitions:

Due Date

The specified date by which a task, obligation, or payment must be completed or submitted.

Cash Discount

A deduction from the invoice price offered by the seller to the buyer for prompt payment of their bill.

Discount Date

The specified date by which payment of a bill or invoice is required to avail a discount for early payment.

Delivery Charge

A fee charged for the delivery of goods or services to a recipient's location.