Thomas, J. Assignment 8-1

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QS 8-13 Computing total asset turnover LO A1 Aneko Company reports the following ($000s): net sales of $17,500 for 2017 and $16,625 for 2016; end-of-year total assets of $18,000 for 2017 and $16,500 for 2016. Compute its total asset turnover for 2017. (Enter your answers in thousands.) Total asset turnover Choose Numerator: Choose Denominator: Total asset turnover %3D Total asset turnover times

17 & Exit Submit The financial statement amounts for the Atwood Company and the Franz Company as of December 31, 2024, are presented below. Also included are the fair values for Franz Company's net assets (all numbers are in thousands). 02:17:14 Cash Atwood Book Franz Book Franz Fair Value 12/31/2024 Value 12/31/2024 Value 12/31/2024 $ 870 $ 240 $ 240 Receivables 660 600 600 Inventory 1,230 420 580 Land 1,800 260 250 Buildings (net) 1,800 540 650 Equipment (net) 660 380 400 Accounts payable (570) (240) (240) Accrued expenses Long-term liabilities (270) (60) (60) (2,700) (1,020) (1,120) Common stock ($20 par) (1,980) Common stock ($5 par) (420) Additional paid-in capital (210) (180) Retained earnings 1/1/24 (1,170) (480) Revenues (2,880) (660) Expenses 2,760 620 Note: Parenthesis indicate a credit balance Assume an acquisition business combination took place at December 31, 2024. Atwood issued 50 shares of its common stock with a fair value of $35 per share for all of the outstanding…

How can i solve task 20 question 1?

Please only answer d, Thank you

H-4

Question #5 please!

Please do not give image format and explanation

Exercise 8-21A (Algo) Computing and recording the amortization of intangibles LO 8-10, 8-11 Dynamo Manufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the following items. Patent with 4 remaining years of legal life Goodwill $39,700 41,900 Dynamo's financial condition just prior to the acquisition of these assets is shown in the following statements model. Balance Sheet Income Statement Assets Stockholders' Cash + 85,200 + Patent NA + + Goodwill NA = NA = Liabilities + Equity 85,200 + Revenue NA - - = Expenses = Net Income NA NA Statement of Cash Flows ΝΑ Required a. Compute the annual amortization expense for these items. b. Show the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model. c. Prepare the journal entries to record the acquisition of the intangible assets and the related amortization for year 1. Complete this question by entering your answers in the tabs below.…

Q29 Backlog depreciation is debited to: a. Current cost is calculated and debited to P&L a/c b. Historical cost is calculated and debited to P&L a/c c. Current cost reserve account d. Asset a/c

1. Find the TIme Intrest Earned  2. Find the Asset Turnover

4G+ 1:10 PM M 0.6KB/s ill 63 00:51:32 Remaining Multiple Choice Accumulated depreciation, as used in accounting, represents: An expense on the income statement. O Earnings retained in the business that will be used to purchase another operational asset when the related asset becomes fully depreciated. The portion of asset cost written off as an expense since the acquisition date. Funds set aside to replace assets. 64 of 75

HW - Ch 20-2   Prepare journal entries to record the effects on Shannon’s accounting records at December 31, 2021, for each of the items described above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in whole dollars not in thousands of dollars.) (1)  Record the gain on sale of investment with an original cost of $186,000 for $232,000 (2)  Record the adjustment of equity securities for the investment of $232,000 as on the date of sale. (3)  Record the fair value adjustment. (4)  Record the loss-lawsuit. (5)  Record correction of inventory error. (6) Record correct assets that were incorrectly expensed. (7)  Record the 2021 adjusting entry for depreciation. (8) Record the income tax expense.

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