Question

10. The following selected fixed asset information is available for a company: Metric $ thousands Cost: Total property, plant

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Ans : Fixed asset turnover ratio = Net Sales / Average net fixed assets

= $ 21,670 / $ 12,000

= 1.80583

= 1.80

Add a comment
Know the answer?
Add Answer to:
10. The following selected fixed asset information is available for a company: Metric $ thousands Cost:...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Heron Corporation, a global technology company located in Dallas, Texas, reported the following information in its...

    Heron Corporation, a global technology company located in Dallas, Texas, reported the following information in its year 2 financial statements ($ in thousands): Year 2 Year 1 Balance sheets Property, plant, and equipment (PP&E) (net) $ 480,000 $550,000 Income statement Net sales for year 2 $5,000,000 Required: 1. Calculate the company's year 2 fixed-asset turnover ratio. 2. How would you interpret this ratio?

  • Exercise 10-13 Fixed-asset turnover ratio [LO10-5] Techvidia Corporation, a global technology company located in Santa Clara,...

    Exercise 10-13 Fixed-asset turnover ratio [LO10-5] Techvidia Corporation, a global technology company located in Santa Clara, California, reported the following information in its 2016 financial statements ($ in millions): 2016 2015 Balance sheets Property, plant, and equipment (net) $ 490 $ 595 Income statement Net sales for 2016 $ 5,170 Required: 1. Calculate the company’s 2016 fixed-asset turnover ratio Fixed-asset Turnover Ratio Choose Numerator: / Choose Denominator: = Fixed-asset Turnover Ratio / = Fixed-asset Turnover Ratio / = 0 times

  • Nvidia Corporation, a global technology company located in Santa Clara, California, reported the following information in...

    Nvidia Corporation, a global technology company located in Santa Clara, California, reported the following information in its 2016 financial statements ($ in millions): 2016 2015 $ 466 $ 557 Balance sheets Property, plant, and equipment (net) Income statement Net sales for 2016 $ 5,010 Required: 1. Calculate the company's 2016 fixed-asset turnover ratio. (Enter your answers in millions rounded to one decimal place.) Choose Numerator: Current assets Fixed-asset Turnover Ratio 1 Choose Denominator: = Fixed-asset Turnover Ratio / = Fixed-asset...

  • 3. The following financial statement data are available for a company: Metric $ thousands 3,390 2,210...

    3. The following financial statement data are available for a company: Metric $ thousands 3,390 2,210 3,850 Operating income Net income Operating assets Change in cash and cash equivalents Change in cash from operating activities Free cash flow to the firm The company's cash-to-income ratio is: — 1,010 1.850 2,240

  • Analyzing Noncurrent Asset Disclosures. The following are financial data taken from the 2015 annual report of...

    Analyzing Noncurrent Asset Disclosures. The following are financial data taken from the 2015 annual report of a company: (amounts in millions) 2015 2014 Net sales............................................................ $48,851 for 2015 and $49,605 for 2014 Gross property, plant and equipment...................................... 27,268 for 2015 and 24,988 for 2014 Accumulated depreciation .............................................. (13,502) for 2015 and (13,226) for 2014 Intangible assets (net).................................................. 40,356 for 2015 and 35,166 for 2014 Calculate the following ratios for 2015 and 2014: Intangible asset turnover, fixed asset turnover, accumulated depreciation...

  • The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost...

    The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost of goods sold of $6.6 million, and net income of $890,000. The following table shows the company's comparative balance sheets for 2021 E and 2020: ($ in thousands) 2021 2020 $ 660 1,060 1,300 4,200 $ 7,220 $ 740 680 1,210 3,920 $ 6,550 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable...

  • The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost...

    The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost of goods sold of $6.0 million, and net income of $860,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021 2020 Assets Cash $ 540 $ 620 Accounts receivable 940 620 Inventory 1,500 910 Property, plant, and equipment (net) 3,600 3,320 Total assets $6,580 $5,470 Liabilities and shareholders' equity Current liabilities $1,280 $1,070 Bonds payable 1,800...

  • The following is a list of account titles and amounts (in millions) reported at December 27,...

    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 families: Accounts Receivable $ 1,138 Equipment $ 510 Accumulated Amortization 765 Goodwill 615 Accumulated Depreciation 520 Inventories 370 Allowance for Doubtful Accounts 47 Land 9 Buildings 260 Licensing Rights 1,855 Cash and Cash Equivalents 700 Prepaid Rent 375 Required: Prepare the asset section of a classified balance...

  • Burnt Red Company Balance Sheet December 31, 20Y2 Assets Total current assets $350,000 Replacement Cost A...

    Burnt Red Company Balance Sheet December 31, 20Y2 Assets Total current assets $350,000 Replacement Cost Accumulated Depreciation Book Value Property, plant, and equipment: Land $250,000 $50,000 $200,000 Buildings 450,000 160,000 290,000 Factory equipment 375,000 140,000 235,000 Office equipment 125,000 60,000 65,000 Patents 90,000 Goodwill 60,000 10,000 50,000 Total property, plant, and equipment $1,350,000 $420,000 $930,000 1. Fixed assets should be reported at 2. Land 3. Patents and goodwill should be 4, Goodwill should be Calculator eBook Chapter 10 Burnt Red...

  • How to fix balance sheet? The following is a list of account titles and amounts (in...

    How to fix balance sheet? 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 families: Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Buildings Cash and Cash Equivalents $1,130 Equipment 759 Goodwill 514 Inventories 41 Land 254 Licensing Rights 694 Prepaid Rent $ 504 609 364 14 1,849 369 Required: 1. Prepare the asset...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT