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

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 31E: The Home Depot reported the following data (in millions) in its recent financial statements: a....

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The following are data related to the affairs of Kilometro Company: Carrying value of its assets 1,478,750 393,750 Estimated gain on realization of land and building Estimated loss on realization of other assets 683,500 Unrecorded obligations requiring immediate settlement 21,750 Total recorded obligations (including fully secured creditors of P600,000) 1,450,000 the estimated deficiency to unsecured creditors is
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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.