Question
Could you please help me with these questions Rainbow Logistics purchased land with the intention of building an office. Rainbow also engaged other contractors for
Could you please help me with these questions
Rainbow Logistics purchased land with the intention of building an office. Rainbow also engaged other contractors for fencing, paving, lighting, landscaping, and to remove a dilapidated building to make room for new office building. The following information relates to these transactions:(10 Marks).
- Purchased land for $ 350,000.
- Paid $ 4,000 for seller's back property taxes.
- Paid $ 22,000 to have the dilapidated building removed.
- Paid a builder $ 400,000 to design and build the office building.
- Paid an excavation company $ 20,000 to grade and clear the land to make it suitable for building purposes.
- Paid a landscaping company $ 10,000 for trees and shrubs.
- Paid a contractor $ 16,000 for outside lighting around the parking area and sidewalks.
- Paid $ 26,000 to have the parking lot paved.
- Paid a fence builder $ 15,000 to construct a security fence around the property.
Instructions
Determine the cost of the land, the building, and the land improvements.
Land =
Building =
The following information is available from the audited financial statements of Molson Coors Brewing Company and Big Rock Breweries Income Trust for their year ends.(10 Marks)
Molson/Coors
(in millions of US dollars)
Big Rock Breweries
(in thousands of Cdn dollars)
Net revenue
$ 5,844
$ 38,701
Profit
$ 373
$ 8,380
Total assets, ending
$ 11,603
$ 42,170
Total assets, beginning
$ 11,799
$ 41,786
Instructions
Calculate both companies' asset turnover and return on assets.
a) AssetTurnover:___________________________________________
b) Return onAsset____________________________________
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