Question
1. Ivanhoe Company incurs these expenditures in purchasing a truck: cash price $29,930, accident insurance (during use) $1,500, sales taxes $1,150, motor vehicle license $600,
1. Ivanhoe Company incurs these expenditures in purchasing a truck: cash price $29,930, accident insurance (during use) $1,500, sales taxes $1,150, motor vehicle license $600, and painting and lettering $1,790. What is the cost of the truck?
The cost of the truck | $enter the cost of the truck in dollars |
2. Suppose in its 2022 annual report that McDonalds Corporation reports beginning total assets of $21 billion, ending total assets of $19 billion, net sales of $22 billion, and net income of $4 billion. (a) Compute McDonalds return on assets. (Round return on assets to 2 decimal places, e.g. 5.12%.)
McDonalds return on assets | enter McDonalds return on assets in percentages % |
(b) Compute McDonalds asset turnover. (Round asset turnover to 2 decimal places, e.g. 5.12.)
McDonalds asset turnover | enter McDonalds asset turnover in times times |
3. Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2022 (in millions): other plant assets $942.0, land $210.0, patents and trademarks (at cost) $500.0, machinery and equipment $2,050.0, buildings $930.0, goodwill (at cost) $190.0, accumulated amortization $43.0, and accumulated depreciation $2,150.0. Prepare a partial balance sheet for Nike for these items. (List Property, Plant and Equipment in order of Land, Buildings, Machinery and Equipment and Other Plant Assets. Round answers to 1 decimal place, e.g. 5,275.5.)
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