During 2014, Phelps Corporation reported net sales of $ 3,000,000, net income of $ 1,320,000, and depreciation expense of $ 80,000. Phelps also reported beginning total assets of $ 1,000,000, ending total assets of $ 1,500,000, plant assets of $ 800,000, and accumulated depreciation of $ 500,000. Phelps‘ s asset turnover ratio is =================================================== ACC 556 Final Part 1 and 2
A master budget is most useful in evaluating a manager ' s performance in controlling costs. Question 17
The master budget reflects management ' s long-term plans encompassing five years or more. Question 18
The debt to assets ratio measures the percentage of the total assets provided by creditors
Question 19
A company whose current liabilities exceed its current assets may have a liquidity problem. Question 20
During 2014, Phelps Corporation reported net sales of $ 3,000,000, net income of $ 1,320,000, and depreciation expense of $ 80,000. Phelps also reported beginning total assets of $ 1,000,000, ending total assets of $ 1,500,000, plant assets of $ 800,000, and accumulated depreciation of $ 500,000. Phelps‘ s asset turnover ratio is =================================================== ACC 556 Final Part 1 and 2
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Final Part 1 Question 1