Danner Corporation and London Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe- tracing devices Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the information shown below. Net income Sales revenue Total assets (average) Plant assets (average) Danner Corp. London Corp. $255,900 $331,700 1,755,800 1,822,200 3,457,400 3,227,400 2,601,600 1,896,500 0 Intangible assets (goodwill) 467,500 (a) For each company, calculate these values Danner Corp. London Corp. Return on assets. % % Profit margin. % % Asset turnover. times times

Danner Corporation and London Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe- tracing devices Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the information shown below. Net income Sales revenue Total assets (average) Plant assets (average) Danner Corp. London Corp. $255,900 $331,700 1,755,800 1,822,200 3,457,400 3,227,400 2,601,600 1,896,500 0 Intangible assets (goodwill) 467,500 (a) For each company, calculate these values Danner Corp. London Corp. Return on assets. % % Profit margin. % % Asset turnover. times times

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter12: Auditing Long-lived Assets And Merger And Acquisition Activity

Section: Chapter Questions

Problem 28RQSC

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Indigo Corporation and Blue Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe-tracing devices. Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the information shown below. For each company, calculate these values: 1) Return on assets 2) Profit margin 3) Asset turnover
Cullumber Mart and Ivanhoe Shop are two companies of roughly the same size both running a chain of convenience stores. Each company depreciates its plant assets using the straight-line method. An investigation of their financial statements reveals the following information: Net income? Sales revenue Total assets (average) Plant assets (average) A. Return on assets Cullumber Mart B. Asset turnover. $166,656 1,139,200 5,555,200 2,112,000 For each company, calculate: (Round answers to 2 decimal places, e.g. 52.75) Cullumber Mart Ivanhoe Shop $169,360 1,408,000 7,027,200 2,432,000 Ivanhoe Shop
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Provide correct answer general accounting
Sarasota Corporation and Marigold Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe-tracing devices. Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the following information. Net income Sales revenue Total assets (average) Plant assets (average) Intangible assets (goodwill) (a) (1) (2) (3) Return on assets Profit margin Asset turnover Sarasota Corp. $ 237,540 Save for Later 1,187,700 3,210,000 2,430,000 387,100 For each company, calculate these values: (Round answers to 2 decimal places, e.g. 6.25% or 17.54.) Marigold Corp. $316,050 Sarasota Corp. 1,264,200 3,010,000 1,828,000 do % do % 0 times Marigold Corp. % do % times Attempts: 0 of 3 used Submit Answer
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The financial statements of Columbia Sportswear Company are presented in Appendix B. Click here to view Appendix B. The financial statements of Under Armour, Inc. are presented in Appendix C. Click here to view Appendix C. The complete annual report, including the notes to the financial statements, is available at the company's website. (b) What conclusions concerning the management of plant assets can be drawn from these data? 1. 2. 3. Return on assets Profit margin Asset turnover Columbia Sportswear Company 12.0% 9.8% 1.22 times Under Armour, Inc. -1.1% -0.9% 1.26 times
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An analysis of changes in selected balance sheet accounts of Johnson Corporation shows the following for the current year: Plant and Equipment accounts: Debit entries to asset accounts Credit entries to asset accounts Debit entries to accumulated depreciation accounts (resulting from sale of plant assets) Credit entries to accumulated depreciation accounts (representing depreciation for the current year) $ 154,000 $ 115,000 $ 88,000 Johnson's income statement for the current year includes a $11,000 loss on disposal of plant assets. All payments and proceeds relating to purchase or sale of plant assets were in cash. Select one: $ 104,000 Total cash proceeds received by Johnson from sales of plant assets during the current year amounted to: a. $104,000. b. $208,000. c. $219,000. d. $16,000.
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