Question
Joel Enterprise Ltd reported a profit of $300,000, an investment turnover of 4.5, and a return on investment of 12.5 per cent. Based on this
Joel Enterprise Ltd reported a profit of $300,000, an investment turnover of 4.5, and a return on investment of 12.5 per cent. Based on this information, Joel's invested capital is ______________.
| a. | $2,400,000 | |
| b. | $533,333 | |
| c. | $10,800,000 | |
| d. | $2,000,000 | |
| e. | None of the answers. |
2 points
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Auditing and Assurance Services
Authors: Timothy Louwers, Allen Blay, David Sinason, Jerry Strawser, Jay Thibodeau
7th edition
978-1259573286, 1259573281, 978-1260152166
