C. In 2018, Company N, an Omani Company, reported beginning written down value of OMR 24,800. On April 1, 2018, the company acquired plant and machinery costing OMR 14,400 and sold plant and machinery for OMR 11,200 during the year. On January 1, 2019, the company's accountant recorded written down value of OMR 18,667.
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![C. In 2018, Company N, an Omani Company, reported
beginning written down value of OMR 24,800. On April 1,
2018, the company acquired plant and machinery costing
OMR 14,400 and sold plant and machinery for OMR 11,200
during the year. On January 1, 2019, the company's
accountant recorded written down value of OMR 18,667.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F019ab545-2a8b-47ec-a536-b429d2851956%2F8e5fc484-1e75-4b6a-b722-3ff2eabb275f%2Fdmgmf3m_processed.jpeg&w=3840&q=75)
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- Aluminium Manufacturing Co., income for the year 2018 and 2019 were OMR 400,000 and 600,000 respectively. The following pretax earnings are depreciation on plant and machinery every year OMR 200,000 and extraordinary gain 2019 OMR 150,000. What is the expected average future earnings. Select one: a. OMR 325,000 b. OMR 275,000 c. OMR 375,000 d. OMR 225,000During 2020, Metlock, Inc. reported net sales of $2,850,900 and net income of $1,550,000. Its balance sheet reported average total assets of $1,290,000.Calculate the asset turnover. (Round answer to 2 decimal places, e.g. 1.25.)Transactions for 2021 were as follows: An new elevator system costing P800,000 was installed on the company’s Office Building and was completed in early January. On March 31, the company traded a new factory machinery with a cash price of P6M for one of its old Factory Machinery with an original cost of P4M. The trade-in value agreed upon on the old machinery was at P2.2M. The company paid the difference in cash. On September 1, a piece of office equipment was sold for P2M. The office equipment had an original cost of P3.2M. On October 31, a replacement office equipment was acquired on installment basis. A P500,000 down-payment was made plus a P3M note payable in three equal installments starting October 31, 2022. The interest rate appropriate for this transaction was ascertained at 10%. Installation and commissioning cost were incurred at P65,890. Estimated decommissioning cost upon retirement was also estimated at P101,302.What is the gain on sale of the office equipment on…
- Transactions for 2021 were as follows: An new elevator system costing P800,000 was installed on the company’s Office Building and was completed in early January. On March 31, the company traded a new factory machinery with a cash price of P6M for one of its old Factory Machinery with an original cost of P4M. The trade-in value agreed upon on the old machinery was at P2.2M. The company paid the difference in cash. On September 1, a piece of office equipment was sold for P2M. The office equipment had an original cost of P3.2M. On October 31, a replacement office equipment was acquired on installment basis. A P500,000 down-payment was made plus a P3M note payable in three equal installments starting October 31, 2022. The interest rate appropriate for this transaction was ascertained at 10%. Installation and commissioning cost were incurred at P65,890. Estimated decommissioning cost upon retirement was also estimated at P101,302. A. What is the correct initial cost of the replacement…The company has net sales revenue of $6.8 million during 2021. The company's records also included the following information: 12/31/20 $3.9 million $ 2.1 million $ 1.9 million $2.0 million Assets Property, plant and equipment Licensing agreements Goodwill Investments What is the company's fixed asset turnover ratio for 2021? Mc Multiple Choice O 1.00 17.00 1.42 2.47 12/31/21 $ 5.7 million $2.0 million $ 1.9 million $ 2.1 millionDuring 2020, Riverbed Corporation reported net sales of $5,542,800 and net income of $1,560,000. Its balance sheet reported average total assets of $1,490,000. Calculate the asset turnover. (Round answer to 2 decimal places, e.g. 1.25.) Asset turnover times
- During 2019, Paola Corporation reported net sales of $3,500,000 and net income of $1,500,000. Its balance sheet reported average total assets of $1,400,000.Calculate the asset turnover. (Round answer to 2 decimal places, e.g. 1.25.)For 2022, Bramble Corp. reported beginning total assets of $217,000 and ending total assets of $419,000. Its net income for this period was $57,000, and its net sales were $795,000.Compute the company’s asset turnover in times for 2022. (Round answer to 2 decimal places, e.g. 1.25.)Baldwin, Inc. had net sales of $52,200,000 for the year ended May 31, 2024. Its beginning and ending total assets were $55,200,000 and $88,800,000, respectively. Determine Baldwin's asset turnover ratio for year ended May 31, 2024. (Round the asset turnover ratio to two decimal places, X.XX.) Asset turnover ratio C
- Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $35,000 and net income of $80. Its balance sheet also showed total assets at the beginning of the year of $24,700 and total assets at the end of the year of $23,300. Calculate the asset turnover and return on assets. (Round asset turnover to 2 decimal places, e.g. 6.25 and return on assets to 1 decimal place, e.g. 17.5%.) Asset turnover Return on assets times %The following data were included in a recent Mango, Incorporated annual report ($ in millions): Net sales In millions Net property, plant, and equipment Required: 2017 $ 189,234 34,783 2018 2019 $ 225,595 $ 220,174 47,304 34,378 2020 $ 284,515 35,766 Compute Mango's fixed asset turnover ratio for 2018, 2019, and 2020. Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. 2018 2019 Fixed asset turnover ratio 2020Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $34,000 and net income of $80. Its balance sheet also showed total assets at the beginning of the year of $24,500 and total assets at the end of the year of $23,300. Calculate the asset turnover and return on assets. (Round asset turnover to 2 decimal places, e.g. 6.25 and return on assets to 1 decimal place, e.g. 17.5%.) Asset turnover times Return on assets %
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