What does this tell you about alleg''s asset management

Assignment Help Accounting Basics
Reference no: EM131020491

The following (given in scrambled order) are accounts and balances from the accounting records of Alleg, Inc., as of December 31, 2012, after the books were closed for the year. 





Common stock, authorized 21,000 share 



           At $1 par value, issued 12,000 shares

$12,000

Additional paid-in capital

  38,000

Cash

  14,000

Marketable securities

  17,000

Accounts receivable

  26,000

Accounts Payable

  16,000

Current maturities of long-term debt

  11,000

Mortgages payable

  80,000

Bonds payable

  65,000

Inventory

  33,000

Land and buildings

  57,000

Machinery and equipment

120,000

Goodwill

  13,000

Patents

    9,000

Other assets

  45,000

Deferred income taxes (long-term liability)

  18,000

Retained earnings

  33,000

Accumulated depreciation

  61,000

Bonds and mortgages generally have 10-30 years until maturity. Marketable securities are short-term investments that can be converted to cash in a matter of minutes. 

Required: 

  1. Prepare a classified balance sheet with a proper heading on a spreadsheet. For assets, use the classifications of current assets, plant and equipment, intangibles, and other assets. For liabilities, use the classifications of current liabilities and long-term liabilities.
  2. Compute the total asset turnover rate assuming that total revenues in 2012 were $682,500. Round to the nearest hundredth, e.g. 3.33.
  3. Assume that Alleg's primary competitor has an asset turnover of 2.12. What does this tell you about Alleg's asset management?

Reference no: EM131020491

Questions Cloud

Why is not price elasticity same as price elasticity : One study found that the price elasticity of demand for soda is -0.78, while the price elasticity of demand for Coca-Cola is -1.22. Coca-Cola is a type of soda, so why isn't its price elasticity the same as the price elasticity for soda as a produc..
Prove that any bounded subset of r has supermium and infimum : Prove that Any Bounded subset of R has a supermium and Infimum. Let S be a bounded and closed point set, and let f be a function defined on S which is continuous at each point of S.
What is the expected value of this policy to my father : Should that tragedy happen, the company will have to pay $15000. The company charges my father $1000 for the insurance policy. What is the expected value of this policy to my father?
Do you agree with the publisher''s analysis : He tells the staff, "Our costs are currently $150,000 more than our revenues each month. I propose to eliminate this problem by raising the price of the magazine to $3.00 per issue. This will result in our revenue being exactly equal to our cost."..
What does this tell you about alleg''s asset management : Assume that Alleg's primary competitor has an asset turnover of 2.12. What does this tell you about Alleg's asset management?
Estimates the probability of making a claim : When all factors are taken into account, an insurance company estimates that the probability of my father making a claim for damages to his pontoon boat for 5000 is 0.1.
What is the annual contribution to gdp : Susie takes care of Rachel's children and earns $30,000 a year that she reports on her income taxes. What is the annual contribution to GDP given this information
Is the demand for places in pace freshman class elastic : Assuming that the demand curve for places in the freshman class at Pace did not shift between 2005 and 2006, calculate the price elasticity of demand. Use the midpoint formula in your calculation. Is the demand for places in Pace's freshman class ..
Make a reasonable estimate of the possible loss : Seattle Chocolates has been sued for $100,000 in a contract dispute. It is not possible at this time, however, to make a reasonable estimate of the possible loss, if any, that the company may have sustained.

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Benz company is considering the purchase of a machine that

benz company is considering the purchase of a machine that costs 100000 and has a useful life of 18 years. the companys

  On the basis of raw facts calculate material yield

on the basis of raw facts calculate material yield varianceif standard mix was 560 kg before loss it was 800 kg and

  Speedy parcel service operates a fleet of delivery trucks

speedy parcel service operates a fleet of delivery trucks in a large metropolitan area. a careful study by the companys

  Printers inc manufactures and sells a mid-volume color

printers inc. manufactures and sells a mid-volume color printer mc and a high-volume color printer hc. each mc requires

  A client operates a small business organized as a sole

a client operates a small business organized as a sole propreintship and is considering change the business to operate

  Value corporation is a calendar year taxpayer that uses the

value corporation is a calendar year taxpayer that uses the accrual method of accounting. on december 10 of the current

  Willow creek corporation bases its predetermined overhead

willow creek corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year. at

  Prepare journal entries to record the following transactions

Prepare journal entries to record the following transactions for a nongovernment ONPO

  Find invested in capital assets net of related debt

On the following facts about an Enterprise Fund for a utility operation: Invested in capital assets, net of related debt, would be?

  Prepare a single-step income statement

The corporation had 100,000 shares of common stock authorized and 70,000 shares issued and outstanding during 2014. Prepare a single-step income statement for the year ended December 31, 2014. (Round earnings per share to 2 decimal places, e.g. 1...

  Mean or the median to summarize the center

McGwire, again. Look once more at data of home runs hit by Mark McGwire during his 16-year career as seen in Exercise 34. a) Would you use the mean or the median to summarize the center of this distribution? Why?

  What is the patient volume needed per month if small

calculating break-even. jasmine gonzales administrative director of small imaging center has been asked by the practice

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd