Based on the following partial financial statement, calculate the fixed asset newness ratio: Provide your answer in
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Based on the following partial financial statement, calculate the fixed asset newness ratio: Provide your answer in decimal form, with three significant digits.
Current Assets | |
Cash and Securities | $2,069,775 |
Accounts Receivables | $4,466,680.7 |
Retainage | $955,878.57 |
Inventory | $87,437.73 |
Earnings in Excess of Billings | $286,350.52 |
Other Current Assets | $208,891.83 |
Fixed Assets | |
Property | $23,000,000 |
Construction Equipment | $3,571,453.8 |
Vehicles | $562,741.32 |
Office Equipment | $67,102 |
Depreciation | $-3,254,652.41 |
Other Fixed Assets | $245,049.8 |
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Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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