The following data were included in a recent Zhu and Ramos Incorporated annual report (in millions): Complete this question by entering your answers in the tabs below. Required 1 Required 2 Net revenue Net property, plant, and equipment Required: 1. Compute Zhu and Ramos's fixed asset turnover ratio for 2016, 2017, and 2018. 2. During 2018, Lavender reported a fixed asset turnover ratio of 9.9. Was Zhu and Ramos's turnover better or worse than Lavender's in that year? Year 2015 2016 $ 183,500 $ 191,920 15,590 16, 200 2016 2017 2018 Compute Zhu and Ramos's fixed asset turnover ratio for 2016, 2017, and 2018. (Do not round intermediate calculations. Round your answers to 1 decimal place.) Fixed Asset Turnover Ratio 2017 $ 79,225 4,930 18.8 2018 $131,559 9,080

The following data were included in a recent Zhu and Ramos Incorporated annual report (in millions): Complete this question by entering your answers in the tabs below. Required 1 Required 2 Net revenue Net property, plant, and equipment Required: 1. Compute Zhu and Ramos's fixed asset turnover ratio for 2016, 2017, and 2018. 2. During 2018, Lavender reported a fixed asset turnover ratio of 9.9. Was Zhu and Ramos's turnover better or worse than Lavender's in that year? Year 2015 2016 $ 183,500 $ 191,920 15,590 16, 200 2016 2017 2018 Compute Zhu and Ramos's fixed asset turnover ratio for 2016, 2017, and 2018. (Do not round intermediate calculations. Round your answers to 1 decimal place.) Fixed Asset Turnover Ratio 2017 $ 79,225 4,930 18.8 2018 $131,559 9,080

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 36BE: Analyzing Fixed Assets Pitt reported the following information for 2018 and 2019: Required: Compute...

See similar textbooks

Similar questions

Compare Dollar Tree and Dollar General The asset turnover ratios for two recent years for Dollar Tree, Inc. (DLTR) are shown in the Analysis for Decision Making section of this chapter. Using your results from MAD 5-2, compare and interpret the asset turnover ratios for Dollar Tree and Dollar General (DG).
PART TWO OF THE QUESTION: USING JOYFUL'S 2018 SALES REVENUE OF $4,530 (MILLION) AND ITS AVERGAE NET FIXED ASSESTS OF $266 (MILLION), CALCULATE THE FIXED ASSET TURN OVER RATIO FOR 2018. (ROUND TO THE NEAREST 2 DECIMAL PLACE).
Accounting Sleepy Ltd negotiated a purchase of land, building and equipment from Bambi Corp. The purchase was completed on June 28, 2021 at a total cash cost of $800,000. The estimated market value of each asset at the time was: land, $330,000; building, $520,000; and machinery, $150,000. Required: 1. Prepare journal entries to record each of the purchase of the assets on June 28, 2021. 2. How much depreciation will be recorded for the December 31, 2021 year end assuming declining balance depreciation years and 5 years on the machinery? Company policy is to start depreciating assets at the beginning of the month following acquisition. on the building over 40
Rodriguez Company pays $395,380 for real estate with land, land improvements, and a building. Land is appraised at $157,040; land improvements are appraised at $58,890, and the building is appraised at $176,670. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three assets. Land Land improvements Building Totals Appraised Value 5 0 Percent of Total Appraised Value 0% Total Cost of Acquisition -Apportioned Cost Required 2 >
Analyzing Fixed Assets Pitt reported the following information for 2018 and 2019: Required: Compute Pitts fixed asset turnover ratio and the average age of its fixed assets. ( Note: Round all answers to two decimal places.)
Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense for 2019 if the units-of-production method were used ( Note: Round your answer to the nearest dollar)? a. $179,400 b. $184,000 c. $218,400 d. $224,000
Dinnell Company owns the following assets: In the year of acquisition and retirement of an asset, Dinnell records depreciation expense for one-half year. During 2020, Asset A was sold for 7,000. Required: Prepare the journal entries to record depreciation on each asset for 2017 through 2020 and the sale of Asset A. Round all answers to the nearest dollar.
The Home Depot reported the following data (in millions) in its recent financial statements: a. Determine the asset turnover for The Home Depot for Year 2 and Year 1. Round to two decimal places. b. What conclusions can be drawn concerning the trend in the ability of The Home Depot to effectively use its assets to generate sales?
Analyze Home Depot The Home Depot (HD) reported the following data (in millions) in its recent financial statements: a. Determine the asset turnover ratio for Home Depot for Year 2 and Year 1. Round to two decimal places. b. What conclusions can be drawn from these ratios concerning the change in the ability of Home Depot to effectively use its assets to generate sales?
Annood Company owns land that it purchased at a cost of $700,000 in 2018. The land's recoverable value fluctuate as follows (all amounts as of December 31): 2018, $680,000; 2019, $720,000. The journal entry to record impairment of the land in 2019 would be: a. Debit land account, $20,000, credit impairment loss recovery, $20,000 O b. Debit impairment loss account, $20,000; credit land account, $20,000 O c. Debit land account, 40,000; credit impairment loss recovery, $40,000 O d. No entry is required under IFRS 36.
Baldwin, Inc. had net sales of $52,200,000 for the year ended May 31, 2024. Its beginning and ending total assets were $55,200,000 and $88,800,000, respectively. Determine Baldwin's asset turnover ratio for year ended May 31, 2024. (Round the asset turnover ratio to two decimal places, X.XX.) Asset turnover ratio C
Rodriguez Company pays $389,610 for real estate with land, land improvements, and a building. Land is appraised at $184,500; land improvements are appraised at $61,500; and the building is appraised at $164,000. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three assets. Note: Round your "Apportioned Cost" answers to 2 decimal places. Percent of Total Appraised Value Appraised Value x Total Cost of Acquisition Apportioned Cost Land $ 184,500 x 389,610 Land improvements 61,500 x 389,610 Building 164,000 x 389,610 Totals $ 410,000 0% $ 0.00