Question
The following is a list of account titles and amounts (in millions) reported at December 29, 2013, by Hashey, Inc., a leading manufacturer of games,
The following is a list of account titles and amounts (in millions) reported at December 29, 2013, by Hashey, Inc., a leading manufacturer of games, toys, and interactive entertainment software for children and families: |
Accounts Receivable | $ | 1,121 | Equipment | $ | 498 | ||
Accumulated Amortization | 753 | Goodwill | 603 | ||||
Accumulated Depreciation | 508 | Inventory | 358 | ||||
Allowance for Doubtful Accounts | 36 | Land | 11 | ||||
Buildings | 248 | Licensing Rights | 1,843 | ||||
Cash and Cash Equivalents | 688 | Prepaids | 363 | ||||
|
Required: |
1. | Prepare the asset section of a classified balance sheet for Hashey, Inc. (Enter assets in the order of their liquidity. Enter your answers in millions. Amounts to be deducted should be indicated by a minus sign.) |
2-a. | Using Hashey's 2013 Net Sales Revenue of $4,106 (million) and its Net Fixed Assets of $238 (million) at December 30, 2012, calculate the fixed asset turnover ratio for 2013. (Round your answers to 2 decimal places.) |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started