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Chavin Company had the following results during August: net operating income, $240,000; turnover, 8; and ROI 13%. Chavin Company's average operating assets were:

Respuesta :

Answer:

$1,846,154

Explanation:

In this question, we have to apply the return on investment formula which is shown below:

Return on investment = Net Operating Income ÷ Average Operating Assets

13% = $240,000 ÷ Average Operating Assets

So, the average operating assets would be

= $240,000 ÷ 13%

= $1,846,154

All other information which is given is not relevant. Hence, ignored it

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