<span>If a plant asset was purchased on January 1 for $100,000 with an estimated salvage value of $20,000 at the end of its useful life. the current year's depreciation expense is $10,000 calculated on the straight-line basis and the balance of the accumulated depreciation account at the end of the year is $50,000. the remaining useful life of the plant asset is $56,000 due to accumulated depreciation account.</span>
Answer:
3.20
Explanation:
The computation of the asset turnover ratio is shown below:
Total asset turnover = (Net Sales revenue ÷ Average Total assets)
= ($16,320,000 ÷ $5,100,000)
= 3.20
It shows a ratio between the net sales revenue and the average total assets.
All other information which is given is not relevant. Hence, ignored it
Answer:
The question is not complete,find attached complete question in word document.
Find all the journal entries in the attached spreadsheet
Explanation:
Please note the following points:
The goodwill is the excess of purchase consideration of $ 476,500.00 over the net assets of Softball acquired,that is $ 318,000.00
The net assets is total assets acquired of $374,000 minus the liabilities taken over of $56000
Equity method income is the difference between Softball's net income reported and the dividends paid
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To
determine the net requirement for c, we determine first the number of c’s that
are required for the production of a and b given that there are already 25
units of b available.
<span> Number of c needed = (50 units of a)(2
c/unit of a) + (60 – 25 units of b)(5 c/unit of b)</span>
<span> Number of c needed = 275 c’s</span>
There
are currently 160 units of c; hence,
<span> Net requirement for c = 275 c – 160 c</span>
<span> Net requirement for c = 115</span>
<span>Answer:
115</span>
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