The following information was reported by Youngs Air Cargo Service for 2020: Compute the companys fixed asset
Question:
The following information was reported by Young’s Air Cargo Service for 2020:
Compute the company’s fixed asset turnover ratio (rounded to two decimal places) for the year. What can you say about Young’s ratio when compared to FedEx’s 2020 ratio of 2.16?
Transcribed Image Text:
Net fixed assets (beginning of year) Net fixed assets (end of year) Net operating revenues for the year Net income for the year $1,500,000 2,300,000 3,600,000 1,600,000
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Youngs ratio is lower than FedExs 2020 ratio of 216 indicating t...View the full answer
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Related Book For
Financial Accounting
ISBN: 9781264229734
11th Edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
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