Cornerstone Exercise 7-24 (Algorithmic) Analyze Fixed Assets At December 31, 2019, Clark Corporation reported beginning...
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Cornerstone Exercise 7-24 (Algorithmic) Analyze Fixed Assets
At December 31, 2019, Clark Corporation reported beginning net fixed assets of $84,365, ending net fixed assets of $103,548, accumulated depreciation of $48,753, net sales of $212,722, and depreciation expense of $12,415.
Required:
Compute Clark Corporation fixed asset turnover ratio and the average age of its fixed assets. (Note: Round answers to two decimal places.)
| Fixed asset turnover ratio | ||
| Average age of fixed assets |
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