Question

Hasbro is one of the world’s lending toy manufactures and the maker of such popular board games as Monopoly, Scrabble, and Clue among other. Listed here are selected aggregate transactions from a recent year (dollars in million).

a. Record sales on account of $4,285.6 and related cost of goods sold of $1,836.3

b. issued debt due in six months with a principal amount $500.

c. incured research and development expense of $197.6 which was paid in cash

Complete the following table entering the amouunt of the effect of each transation. Enter negative amounts with a minus sign.

Consider each item independently ( enter your answer in millions rounded to 1 decimal place.

Transcation Current Asset Gross Profit Current Liabilities

a.

b.

c.

Answer 1

1 Transaction Current Asset $2.449.3 Gross Profit $2,449.3 Current Liabilities $0.0 $500.0 SO.O $500.0 ($197.6) $0.0 $0.0 Calculations are shown below: D Current Liabilities 1 Transaction a Current Asset =4285.6-1836.3 Gross Profit =4285.6-1836.3 4 b. 500 500 -197.6