Question;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?
Paper#37582 | Written in 18-Jul-2015Price : $20