The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by Reyes Recreation a leading manufacturer of games, toys, and interactive entertainment software for children and families: Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Buildings Cash and Cash Equivalents Required: $ 1,090 725 Equipment Goodwill $ 470 575 480 45 Inventory Land 330 12 220 660 Licensing Rights Prepaid Rent 1,875 335 1. Prepare the asset section of a classified balance sheet for Reyes Recreation. 2-a. Using Reye's 2018 Net Sales Revenue of $4,650 (million) and its average Net Fixed Assets of $276 (million), calculate the fi asset turnover ratio for 2018. 2-b. Has the company generated more or less revenue from each dollar of fixed assets than in 2017, when the ratio was 20.45? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Using Reye's 2018 Net Sales Revenue of $4,650 (million) and its average Net Fixed Assets of $276 (million), calculate the fixed asset turnover ratio for 2018. (Round your answer to 2 decimal places.) Fixed Asset Turnover Ratio 18.67

The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by Reyes Recreation a leading manufacturer of games, toys, and interactive entertainment software for children and families: Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Buildings Cash and Cash Equivalents Required: $ 1,090 725 Equipment Goodwill $ 470 575 480 45 Inventory Land 330 12 220 660 Licensing Rights Prepaid Rent 1,875 335 1. Prepare the asset section of a classified balance sheet for Reyes Recreation. 2-a. Using Reye's 2018 Net Sales Revenue of $4,650 (million) and its average Net Fixed Assets of $276 (million), calculate the fi asset turnover ratio for 2018. 2-b. Has the company generated more or less revenue from each dollar of fixed assets than in 2017, when the ratio was 20.45? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Using Reye's 2018 Net Sales Revenue of $4,650 (million) and its average Net Fixed Assets of $276 (million), calculate the fixed asset turnover ratio for 2018. (Round your answer to 2 decimal places.) Fixed Asset Turnover Ratio 18.67

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 65E: Average Uncollectible Account Losses and Bad Debt Expense The accountant for Porile Company prepared...

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