Registratio Details Intex Mch. 10Homework e chegg StudyOrder Coxy x El son in to

Question

Registratio Details Intex Mch. 10Homework e chegg StudyOrder Coxy x El son in to XFINITY WFi × C i ezto.mheducation com/hm1px connect ACCOUNTING 2017 Ch. 10 Homework Question 5 (o 5 10.00 points Nvidia Corporathion, a global technology compary located in Santa Clara, California, reported the folowing information in its 2014 tmancial statements (S in thousands) 2013 Balance sheets Property. plant, and equipment (net) 591,950 $580 104 income statement Net sales tor 2014 54,330,162 1 Cwlculate the congoany's 2014 se-asset tunov reio. (Enter your answers in thousands of Fxed asset Tumeer Rabo TOSHIBA 2 3 tab shift

Explanation / Answer

Average Fixed assets = (2014 fixed assets + 2013 fixed assets) / 2

(591,950 + 590,104) / 2 = 591,027

Fixed asset turnover ratio for 2014 = Net sales / Average Fixed assets

= 4,330,162 / 591,027

= 7.33 times.

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