Question

E9-1 Preparing a Classified Balance Sheet [LO 9-1, LO 9-7] The following is a list of account titles and amounts (in millions) reported at December 27, 2015, by Hashey, Inc. a leading manufacturer of games, toys, and interactive entertainment software for children and familles: $ 584 36 Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Buildings Cash and Cash Equivalents $1,132 Equipment 759 Goodwill 514 Inventories 41 Land 254 Licensing Rights 694 Prepaid Rent 1.49 369 Required: 1. Prepare the asset section of a classified balance sheet for Hashey, Inc. 2. Using Hasbro's 2015 Net Sales Revenue of $4,520 million), Its Net Fixed Assets of $230 million) at December 28, 2014, and its Net Fixed Assets computed at December 27, 2015. calculate the fixed asset turnover ratio for 2015 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 2 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 27, 2015

Answer 1

solution Balance sheet of HASHEY INC as at December 27, 2015 Particulars Amount Amount Assets :- Current Assets :- 694 1130 Cash and cash equivalente Accounts receivabte Less! Allowance for Doubtful Accounts Inventory prepaidą (41) 1089 364 369 Total Current Assets 2516 property, plant and equipment: Land 14 Equipment 504 Building 254 758 (514) 그나나 258 Total property, plant & equipment at cost Less. Accumulated depreciation Total property, plant & equipment at Net other Assets or Licensing rights hess: Accumulated Amortization Goodwill other worent Assets Total Assete 1849 (759) 1090 609 1699 4473

fixed Assets Turnover = Net sales / Aug Fixed assets = 45201 (230+4473) = 4520 / 4703 = 0.9610 Times