At December 31, 2014, a company has the following amounts on its financial statements: Property, plant, and
Question:
At December 31, 2014, a company has the following amounts on its financial statements:
Property, plant, and equipment...............................$10,000
Accumulated depreciation.......................................5,000
Total assets at January 1, 2014.................................30,000
Total assets at December 31, 2014............................40,000
Net sales..........................................................62,000
Depreciation expense.............................................1,000
Calculate the following ratios:
Average life of the assets
Average age of the assets
Asset turnover
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Average Life of the Assets Property Plant and EquipmentDepreciation Expense 100001...View the full answer
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Related Book For 
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1285183237
9th edition
Authors: Gary A. Porter, Curtis L. Norton
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