Computing Asset Related Ratios J.M. Smucker included the following information in its April 2019 10-K. Apr. 30, 2018 $ millions Sales Depreciation expense Land Buildings and fixtures Machinery and equipment Construction in progress Gross property, plant, and equipment Accumulated depreciation Total property, plant, and equipment Apr. 30, 2019 $7,916.4 208.1 123.3 $121.3 912.2 820.7 2,250.6 2,174.8 325.0 214.2 3,611.1 3,331.0 (1,635.9) (1,542.5) $1,975.2 $1,788.5 a. Compute PPE turnover for fiscal year ended April 30, 2019. Round answer to one decimal place. b. Compute the average useful life of depreciable assets at April 30, 2019. Round answer to one decimal place. years c. Compute the percentage used up of the PPE at April 30, 2019. Round answer to one decimal place (ex: 0.2345 = 23.5%) %
Computing Asset Related Ratios J.M. Smucker included the following information in its April 2019 10-K. Apr. 30, 2018 $ millions Sales Depreciation expense Land Buildings and fixtures Machinery and equipment Construction in progress Gross property, plant, and equipment Accumulated depreciation Total property, plant, and equipment Apr. 30, 2019 $7,916.4 208.1 123.3 $121.3 912.2 820.7 2,250.6 2,174.8 325.0 214.2 3,611.1 3,331.0 (1,635.9) (1,542.5) $1,975.2 $1,788.5 a. Compute PPE turnover for fiscal year ended April 30, 2019. Round answer to one decimal place. b. Compute the average useful life of depreciable assets at April 30, 2019. Round answer to one decimal place. years c. Compute the percentage used up of the PPE at April 30, 2019. Round answer to one decimal place (ex: 0.2345 = 23.5%) %
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 24CE
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