Question
Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $310,000 Accounts Payable $180,000 Accounts Receivable $240,000 Notes Payable $200,000 Inventory $280,000 Long-term Debt $500,000 Property
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $310,000 | Accounts Payable | $180,000 |
Accounts Receivable | $240,000 | Notes Payable | $200,000 |
Inventory | $280,000 | Long-term Debt | $500,000 |
Property | $700,000 | Shareholders' Equity | $1,050,000 |
Calculate the fixed asset turnover ratio for the company based on the provided balance sheet and the total revenue of $2,500,000.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th edition
978-1285069609, 1285069609, 978-1133607601
