The following information was reported by Youngs Air Cargo Service for 2011: Net fixed assets (beginning of
Question:
The following information was reported by Young’s Air Cargo Service for 2011:
Net fixed assets (beginning of year) ..... $1,500,000
Net fixed assets (end of year) ........ 2,300,000
Net sales for the year .......... 3,600,000
Net income for the year .......... 1,600,000
Compute the company’s fixed asset turnover ratio for the year. What can you say about Young’s ratio when compared to Southwest’s 2011 ratio?
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
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Related Book For 
Financial Accounting
ISBN: 978-0078025556
8th edition
Authors: Robert Libby, Patricia Libby, Daniel Short
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