Determine the dollar amount of total assets for a venture with the following financial information: revenues = $500,000; net profit = $70,000; and asset turnover = 2.00 times.
A) $100,000
B) $250,000
C) $375,000
D) $500,000
E) $650,000

Question

Quizplus · Accepted Answer

The Answer of Determine the dollar amount of total assets for a venture with the following financial information: revenues = $500,000; net profit = $70,000; and asset turnover = 2.00 times.
A) $100,000
B) $250,000
C) $375,000
D) $500,000
E) $650,000

Determine the Dollar Amount of Total Assets for a Venture