What is the fixed asset turnover of Y2008 for a 731-room downtown hotel that recorded total revenues of $34,076,753 in Y2008 and $35,650,873 in Y2007? The property on its balance sheet had fixed assets in Y2008 of $26,800,000 and $22,750,000 in Y2007.
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- A fixed asset with a cost of $50,207 and accumulated depreciation of $42,676 is traded for a similar asset priced at $61,005. Assuming a trade-in allowance of $5,131, the recognized loss on the trade is a.$5,131 b.$18,329 c.$2,400 d.$7,531What is ABCs asset turnover on these accounting question?Please I want correct answer
- Average total assets are $400,000; net income is $200,000; and net sales are $800,000. The asset turnover is OA) 25% OB) 50% C) 100% D) 200% E) none of the aboveA fixed asset with a cost of $27,381 and accumulated depreciation of $24,642.90 is sold for $4,654.77. What is the amount of the gain or loss on disposal of the fixed asset? a.$1,916.67 loss b.$2,738.10 gain c.$1,916.67 gain d.$2,738.10 lossA fixed asset with a cost of $34,571 and accumulated depreciation of $31,113.90 is sold for $5,877.07. What is the amount of the gain or loss on disposal of the fixed asset? Oa. $3,457.10 loss Ob. $3,457.10 gain Oc. $2,419.97 gain Od. $2,419.97 loss
- An organisation's asset register shows a carrying amount of $145,600. The non-current asset account in the nominal ledger shows a carrying amount of $135,600. The difference could be due to a disposed asset not having been deducted from the asset register. Which one of the following could represent that asset? A Asset with disposal proceeds of $15,000 and a profit on disposal of $5,000 B Asset with disposal proceeds of $15,000 and a carrying amount of $5,000 C Asset with disposal proceeds of $15,000 and a loss on disposal of $5,000 D Asset with disposal proceeds of $5,000 and a carrying amount of $5,000A fixed asset with a cost of $31,737 and accumulated depreciation of $28,563.30 is sold for $5,395.29. What is the amount of the gain or loss on disposal of the fixed asset? a.$3,173.70 gain b.$2,221.59 loss c.$3,173.70 loss d.$2,221.59 gainAn asset, with a useful life of 10 years, wasacquired at the beginning of year 1 at a cost of $60 000. The asset is revalued at the beginning ofyear 4 in terms of the entitys revaluation policyto gross replacement cost of $ 80 000 at this date.Assume that depreciation calculated foraccounting purposes on the straight-line methodaccurately reflects economic obsolescence. What is the revaluation amount?
- . In 2018, a company had beginning total assets of $923,000, and ending total assets of $871,000. Its gross sales were $1,090,000 and its net sales were $1,000,000. The company's total asset turnover is equal to: A. 0.82 B. 0.90 C. 1.09 D. 1.11A fixed asset with a cost of $29,006 and accumulated depreciation of $26,105 is traded for a similar asset priced at $65,000 (fair market value) in a transaction with commercial substance. Assuming a trade-in allowance of $5,268, at what cost will the new equipment be recorded in the books? a.$62,633 b.$59,732 c.$67,901 d.$65,000Asset turnover ratioFinancial statement data for years ended December 31, 20Y3 and 20Y2, for EdisonCompany follow:a. Determine the asset turnover ratio for 20Y3 and 20Y2.b. Is the change in the asset turnover ratio from 20Y2 to 20Y3 favorable orunfavorable?