Following are beginning and ending asset values of LMN Company. Sales revenue for year ending Dec...
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Following are beginning and ending asset values of LMN Company. Sales revenue for year ending Dec 31, 2022 was $725,000. What is the Fixed Asset Turnover Ratio for the year ending Dec 31, 2022? (FATO = Sales / Average Fixed Assets) Accounts Receivable Cash Building Land Equipment Dec 31, 2021 $23,000 $40,000 $120,000 $75,000 $55,000 Dec 31, 2022 $30,000 $37,000 20,000 $75,000 $65,000 Following are beginning and ending asset values of LMN Company. Sales revenue for year ending Dec 31, 2022 was $725,000. What is the Fixed Asset Turnover Ratio for the year ending Dec 31, 2022? (FATO = Sales / Average Fixed Assets) Accounts Receivable Cash Building Land Equipment Dec 31, 2021 $23,000 $40,000 $120,000 $75,000 $55,000 Dec 31, 2022 $30,000 $37,000 20,000 $75,000 $65,000
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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