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Alleg?s inc.




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;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.;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#74737 | Written in 18-Jul-2015

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