Determine the dollar amount of total assets for a venture


Question: Determine the dollar amount of total assets for a venture with the following financial information: revenues = $750,000; net profit = $70,000; and asset turnover = 2.50 times.

a. $140,000

b. $250,000

c. $300,000

d. $500,000

e. $1,000,000

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Accounting Basics: Determine the dollar amount of total assets for a venture
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