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total asset turnover ratio of 3.5 indicates th

total asset turnover ratio of 3.5 indicates th

Accounting (Text Only)
Accounting (Text Only)
26th Edition
ISBN:9781285743615
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter10: Fixed Assets And Intangible Assets
Section: Chapter Questions
Problem 10.5CP: Fixed asset turnover: three industries The following table shows the revenues and average net fixed...
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QUESTION 14 A total asset turnover ratio of 3.5 indicates that O For every $1 in net sales, the firm acquired $3 50 in assets during the period For every $1 in assets, the firm earned gross profit of $3.50 during the period For every $1 in assets, the firm paid $3 50 in expenses during the period For every $1 in assets, the firm produced $3 50 in net sales during the period For every $1 in assets, the firm earned $3.50 in net income QUESTION 15 Martin Company purchases a machine at the beginning ofthe year at a cost of $155,000, The machine is depreciated using the double-declining-balance method The machine's useful life is estimated to be 4 years with a $12.900 salvage value Depreciation expense in year 4 is O $6 475 O $77 500 O$35.588 O $12 950. O$9,688
Transcribed Image Text:QUESTION 14 A total asset turnover ratio of 3.5 indicates that O For every $1 in net sales, the firm acquired $3 50 in assets during the period For every $1 in assets, the firm earned gross profit of $3.50 during the period For every $1 in assets, the firm paid $3 50 in expenses during the period For every $1 in assets, the firm produced $3 50 in net sales during the period For every $1 in assets, the firm earned $3.50 in net income QUESTION 15 Martin Company purchases a machine at the beginning ofthe year at a cost of $155,000, The machine is depreciated using the double-declining-balance method The machine's useful life is estimated to be 4 years with a $12.900 salvage value Depreciation expense in year 4 is O $6 475 O $77 500 O$35.588 O $12 950. O$9,688
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