Symbolism of Plants, Trees, and Herbs. This page is a compilation of the Symbolic Powers of the Flora Kingdom. We in no way imply or advocate that this information be used for medical or consumptive purposes.
normal account balance. Type of balance expected of a particular account based on its balance sheet classification. Normally, asset and expense accounts have debit balances, and equity, liability, and revenue accounts have credit balances. Also called normal balance.
Average total assets = (100+120)/2 = $110, sales are $200 so total asset turnover is $200/$110 = 1.82. If the industry average total asset turnover ratio is 1.2 we can conclude that the company has used its asset more effectively in generating revenue. Opening fixed assets were $60, closing fixed assets are $60-$10=$50.