Question
Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $320,000 Accounts Payable $140,000 Accounts Receivable $280,000 Notes Payable $200,000 Inventory $300,000 Long-term Debt $500,000 Property
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $320,000 | Accounts Payable | $140,000 |
Accounts Receivable | $280,000 | Notes Payable | $200,000 |
Inventory | $300,000 | Long-term Debt | $500,000 |
Property | $750,000 | 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 $2,000,000.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th edition
978-1285069609, 1285069609, 978-1133607601
