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End of Year (in Beginning of Year (in millions) millions) Property, plant, and equipment 5220,163 $230,508 Less accumulated 136,622 140,561 depreciation Property, plant, and $83,541 $89,947 equipment (net)

End of Year (in Beginning of Year (in millions) millions) Property, plant, and equipment 5220,163 $230,508 Less accumulated 136,622 140,561 depreciation Property, plant, and $83,541 $89,947 equipment (net)

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 1RE: Susquehanna Company purchased an asset at the beginning of the current year for 250,000. The...
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Fixed asset turnover ratio

Verizon Communications Inc. is a major telecommunications company
in the United States. Two recent balance sheets for Verzion disclosed
the following information regarding fixed assets:

Verizon's revenue for the years was $131,620 million. Assume that the
fixed asset turnover ratio fort the telecommunications industry averages
approximately 1.1

a. Determine Verizon's fixed asset turnover ratio. Round to one
decimal place.

b. Interpet this ratio with respect to the industry average.

End of Year (in Beginning of Year (in millions) millions) Property, plant, and equipment 5220,163 $230,508 Less accumulated 136,622 140,561 depreciation Property, plant, and $83,541 $89,947 equipment (net)
Transcribed Image Text:End of Year (in Beginning of Year (in millions) millions) Property, plant, and equipment 5220,163 $230,508 Less accumulated 136,622 140,561 depreciation Property, plant, and $83,541 $89,947 equipment (net)
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