Cullumber Companyreports the following information (in millions) during a recent year: net sales, $12,846.4; net earnings, $282.3; total assets, ending, $5,370.0; and total assets, beginning, $4,990.0.

(a)Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin.(Round answers to 1 decimal place, e.g. 6.2% and 6.2.)

1.Return on assets

enter the return on assets in percentages rounded to 1 decimal places

%

2.Asset turnover

enter the asset turnover rounded to 1 decimal places

times

3.Profit margin

enter the profit margin in percentages rounded to 1 decimal places

%

Determine deposits in transit.

Deposits in transit $

Determine outstanding checks. (Hint:You need to correct disbursements for the check error.)

Outstanding checks $

enter outstanding checks in dollars

Prepare bank reconciliation at August 31.(List items that increase balance as per bank & books first.)

Journalize the adjusting entries to be made bySkysong, Inc.at August 31.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)