Calculate the asset turnover from the information given below. Sales $30,000 Property 14,000 Equipment 4,000 Intangible asset 2,000 a. 3.25 b. 1.50 c. 2.50 d. 5.35

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter7: Fixed Assets, Natural Resources, And Intangible Assets
Section: Chapter Questions
Problem 7.3.1MBA
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Calculate the asset turnover from the information given below.
Sales
$30,000
Property
14,000
Equipment
4,000
Intangible asset
2,000
a. 3.25
b. 1.50
c. 2.50
d. 5.35
Transcribed Image Text:Calculate the asset turnover from the information given below. Sales $30,000 Property 14,000 Equipment 4,000 Intangible asset 2,000 a. 3.25 b. 1.50 c. 2.50 d. 5.35
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