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please make into seperate answers with charts if possible QS 8-15 Computing total asset turnover LO A1 Aneko Company reports the following: net sales of
please make into seperate answers with charts if possible
QS 8-15 Computing total asset turnover LO A1 Aneko Company reports the following: net sales of $17,500 for Year 2 and $16,625 for Year 1: end-of-year total assets of $18,000 for Year 2 and $16,500 for Year 1. (1) Compute its total asset turnover for Year 2. Total asset turnover Choose Denominator: Choose Numerator 1 Total asset turnover Total asset turnover O times 1 QS 8-7 Computing revised depreciation LO C2 On January 1, the Matthews Band pays $66,600 for sound equipment. The band estimates it will use this equipment for five years and after five years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The salvage value is not changed Compute the revised depreciation for both the second and third years. Book value at point of revision Remaining depreciable cost Depreciation per year for years 2 and 3 Exercise 8-1 Cost of plant assets LO C1 Rizio Co purchases a machine for $12,700, terms 2/10,n/60, FOB shipping point. Rizio paid within the discount period and took the $254 discount. Transportation costs of $287 were paid by Rizio. The machine required mounting and power connections costing $878. Another $414 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $255 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine. Amount included in Cost of Equipment: Invoice price of machine Net purchase price 0 $ 0 Total cost to be recorded Exercise 8-2 Recording costs of assets LO C1 Cala Manufacturing purchases land for $321,000 as part of its plans to build a new plant. The company pays $37.900 to tear down an old building on the lot and $56,026 to fill and level the lot. It also pays construction costs $1,722,600 for the new building and $108,736 for lighting and paving a parking area. Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash. View transaction list Journal entry worksheet A Record the total costs of the plant assets. Note: Enter debits before credits Transaction General Journal Debit Credit Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $358,020 for real estate with land, land improvements, and a building. Land is appraised at $255,000; land improvements are appraised at $76,500; and a building is appraised at $178,500 Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the costs of lump-sum purchase. NoteEnter debits before credits QS 8-15 Computing total asset turnover LO A1 Aneko Company reports the following: net sales of $17,500 for Year 2 and $16,625 for Year 1: end-of-year total assets of $18,000 for Year 2 and $16,500 for Year 1. (1) Compute its total asset turnover for Year 2. Total asset turnover Choose Denominator: Choose Numerator 1 Total asset turnover Total asset turnover O times 1 QS 8-7 Computing revised depreciation LO C2 On January 1, the Matthews Band pays $66,600 for sound equipment. The band estimates it will use this equipment for five years and after five years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The salvage value is not changed Compute the revised depreciation for both the second and third years. Book value at point of revision Remaining depreciable cost Depreciation per year for years 2 and 3 Exercise 8-1 Cost of plant assets LO C1 Rizio Co purchases a machine for $12,700, terms 2/10,n/60, FOB shipping point. Rizio paid within the discount period and took the $254 discount. Transportation costs of $287 were paid by Rizio. The machine required mounting and power connections costing $878. Another $414 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $255 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine. Amount included in Cost of Equipment: Invoice price of machine Net purchase price 0 $ 0 Total cost to be recorded Exercise 8-2 Recording costs of assets LO C1 Cala Manufacturing purchases land for $321,000 as part of its plans to build a new plant. The company pays $37.900 to tear down an old building on the lot and $56,026 to fill and level the lot. It also pays construction costs $1,722,600 for the new building and $108,736 for lighting and paving a parking area. Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash. View transaction list Journal entry worksheet A Record the total costs of the plant assets. Note: Enter debits before credits Transaction General Journal Debit Credit Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $358,020 for real estate with land, land improvements, and a building. Land is appraised at $255,000; land improvements are appraised at $76,500; and a building is appraised at $178,500 Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the costs of lump-sum purchase. NoteEnter debits before credits Step by Step Solution
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