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On January 1, 2023, Hilldale Company had total assets of $370,000. During the year, the company purchased new machinery worth $86,000 and promised to
On January 1, 2023, Hilldale Company had total assets of $370,000. During the year, the company purchased new machinery worth $86,000 and promised to pay the amount due after two years. Throughout the year, it earned revenue of $60,000 every month. Calculate the asset turnover ratio. (Round your answer to two decimal places.) OA. 1.81 times OB. 1.58 times OC. 1.74 times OD. 1.03 times
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
71051503, 978-1259066511, 1259066517, 978-0071051507
