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Analysis of Operating Assets At December 31, 2017, XYZ Inc. has the following amounts on its financial statements: Property, plant, and equipment $15,000 Accumulated depreciation
Analysis of Operating Assets
At December 31, 2017, XYZ Inc. has the following amounts on its financial statements:
| Property, plant, and equipment | $15,000 |
| Accumulated depreciation | 6,000 |
| Total assets at January 1, 2017 | 30,000 |
| Total assets at December 31, 2017 | 40,000 |
| Net sales | 60,000 |
| Depreciation expense | 1,000 |
Calculate the following:
| Average life of the assets: | years |
| Average age of the assets: | years |
| Asset turnover ratio (round to 2 decimal places): | times |
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Auditing Information Systems
Authors: Mario Piattini
1st Edition
1878289756, 9781878289759
