Question

Check my work mode: This shows what is correct or incorrect for the work you have completed so for. It does no The following is a list of account ttles 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 families $ 496 601 356 Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Buildings Cash and Cash Equivalents $1,119 Equipment 751 Goodwill 506 Inventories 35 Land 246 Licensing Rights 686 Prepaid Rent le 1,841 361 Required: 1. Prepare the asset section of a classified balance sheet for Hashey, Inc. 2. Using Hasbro's 2015 Net Sales Revenue of $4.480 (million). Its Net Fixed Assets of $236 (million) at December 28, 2014, and its Net Fixed Assets computed at December 27, 2015, calculate the fixed asset turnover ratio for 2015. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 28 Red 2A Reg 1 Using Hashey's 2015 Net Sales Revenue of $4,480 (million) and its Net Fred Assets of $236 (min) at December 28, 2014 calculate the fixed asset turnover ratio for 2015. (Hound your answer to 2 decimal pace) 10.903 Fored Asset Turnover Ratio Reg 28 ) < Reg1 < Prey 8 of 10 Next >

Answer 1

Solution Required 1: HASHEY, INC. Balance Sheet (Partial) December 27,2015 (in millions) Assets Current Assets: Cash and Cash Equivalents Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaids $686 $1,119 ($35)| $1,084 $356 $361 $2,487 Total Current Assets Property, Plant, and Equipment Land Equipment Buildings $100 $496 $246 S752 ($ 506) $246 Property, plant, and Equipment (at cost) Accumulated Depreciation Total Property, Plant, and Equipment (net) Other Assets Licensing Rights Accumulated Amortization Goodwill $1,841 ($751) $601 Total Other Assets Total Assets $1,691 $4,424 Required 2: Net sales revenue for 2015 (in millions) $4,480 Net Fixed Assets at Dec. 28, 2014 (in millions) Net Fixed Assets at Dec. 27, 2015 (in millions) Average fixed assets (in millions) {($236M + $246M)/2} $236 $246 $241 Fixed Assets Turnover Ratio = Net sales / Average Fixed Assets = $4,480 Millions / $241 Millions = 18.59 Fixed Assets Turnover Ratio 18.59