The Balance Sheets of Davidson Corporation Reported Net Fixed Assets

question 42

Multiple Choice

The balance sheets of Davidson Corporation reported net fixed assets of $320,000 at the end of 2009. The fixed-asset turnover ratio for 2009 was 4.0 and sales for the year totaled $1,480,000. Net fixed assets at the end of 2008 were:

• A)$470,000.
• B)$370,000.
• C)$420,000.
• D)None of these.$1,480,000 Average fixed assets = 4.0 Average fixed assets = $370,000, therefore net fixed assets at the end of 2008 must be $420,000 [($320,000 + x) 2] = $370,000; $320,000 + x = $740,000; x = $420,000

---

Definitions:

Brain

The complex central organ of the nervous system responsible for processing sensory information, regulating bodily functions, and enabling cognition and consciousness.

Treatment

Medical care provided to a patient for an illness or injury, aimed at relieving symptoms or curing the condition.

Myelination

The process of coating the axons of neurons with a fatty sheath called myelin, which increases the speed and efficiency of electrical signal transmission.

Neural Development

The process by which the nervous system forms, grows, and matures, including the development of neurons and the formation of neural connections.