FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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During 2016, Ambiance Company reported net
revenue of $6,600,000. The company reported net
fixed assets of $790,000 on January 1, 2016 and
net fixed assets of $970,000 on December 31,
2016.
Required:
a. Calculate the fixed asset turnover ratio. (Round
your answer to one decimal place.)
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Transcribed Image Text:During 2016, Ambiance Company reported net revenue of $6,600,000. The company reported net fixed assets of $790,000 on January 1, 2016 and net fixed assets of $970,000 on December 31, 2016. Required: a. Calculate the fixed asset turnover ratio. (Round your answer to one decimal place.)
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