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Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 24
Preparing a Classified Balance Sheet
The following is a list of account titles and amounts (in millions) reported at December 26, 2010, by Hasbro, Inc. , a leading manufacturer of games, toys, and interactive entertainment software for children and families:
Required:
1. Prepare the asset section of a classified balance sheet for Hasbro, Inc.
2. Using Hasbro's 2010 Net Sales Revenue of $4,002 (million) and its Net Fixed Assets of $221 (million) at December 30, 2009, calculate the fixed asset turnover ratio for 2010. Has the company generated more or less revenue from each dollar of fixed assets than in 2009, when the ratio was 20.76
The following is a list of account titles and amounts (in millions) reported at December 26, 2010, by Hasbro, Inc. , a leading manufacturer of games, toys, and interactive entertainment software for children and families:
Required:
1. Prepare the asset section of a classified balance sheet for Hasbro, Inc.
2. Using Hasbro's 2010 Net Sales Revenue of $4,002 (million) and its Net Fixed Assets of $221 (million) at December 30, 2009, calculate the fixed asset turnover ratio for 2010. Has the company generated more or less revenue from each dollar of fixed assets than in 2009, when the ratio was 20.76
Explanation
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The asset section of a classified balanc...
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
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