för years ending December 31 for Xiong Company follow: Year 2 Year 1 Sales $1,560,000 $1,026,000 Fixed assets: Beginning of year 580,000 500,000 End of year 620,000 580,000 a. Determine the fixed asset turnover ratio for Year-1 and Year 2. Round your answers to one decimal place. Fixed asset turnover Year 1 Year 2
för years ending December 31 for Xiong Company follow: Year 2 Year 1 Sales $1,560,000 $1,026,000 Fixed assets: Beginning of year 580,000 500,000 End of year 620,000 580,000 a. Determine the fixed asset turnover ratio for Year-1 and Year 2. Round your answers to one decimal place. Fixed asset turnover Year 1 Year 2
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter10: Fixed Assets And Intangible Assets
Section: Chapter Questions
Problem 23E
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