i Finder File Edit View Go Window Help ??, 50% E,?? ? Sun Apr 1 6:36 PM Alex ezt

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Question

i Finder File Edit View Go Window Help ??, 50% E,?? ? Sun Apr 1 6:36 PM Alex ezto.mheducation.com Student alamo.edu McGraw-Hill Connect Chapter 9 Exercises 16.66 points 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 sofltware for children and families S 1,102 737 492 35 232 672 Equipment S 482 587 342 Land Licensing Rights Allowance for Doubtful Accounts 1,863 347 Cash and Cash Equivalents 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.) HASHEY, INC. Balance Sheet (partial) December 29, 2013 Current Assets: mg popcorntime ap

Explanation / Answer

Answer:

HASHLEY INC

Balance sheet (partial)

December,29-2013

Assets

Current Assets

Cash and cash equivalents

672

Accounts receivable

1102

Allowance for doubtful allowance

-35

1067

Prepaid

347

Inventory

342

Total Current Assets

2428

Property Plant and equipment

Land

Building

232

Equipment

482

Property Plant and equipment at cost

726

Less :Accumulated depreciation

-492

Total property plant and equipment

234

Other Assets

Goodwill

587

Licensing Rights

1863

Accumulated amortization

-737

1126

Total Other Assets

1713

Total Assets

4375

2-a

Fixed over turnover ratio

=Net sales / average fixed net assets

=4072 / (234+222)/2

=4072 /228

=17.86

Fixed over turnover ratio =17.86

2-b

less revenue

Explanation

Because Fixed over turnover ratio is less the 2012 rate