Carducci Corporation reported net sales of $3.44 million and beginning total assets of $1.06 million and...

Question

Question

Carducci Corporation reported net sales of $3.44 million and beginning total assets of $1.06 million and ending total assets

business accounting

Answer 1

Answer #1

Ans:

The formula to compute the average total assets = (Opening Assets + Closing Assets)/ 2

So in the instant case the average total assets = $ (1.06 + 1.46)/2 = $ 1,26 million.

So the correct answer is $ 1.26 million.

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Answer 2

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