In 2023, MetroTech Corporation reported: • • • • • • Net sales: $50,000,000 Beginning total assets: $15,000,000 Net earnings: $2,000,000 Ending total assets: $25,000,000 Depreciation expense: $500,000 Property, plant, and equipment: $10,000,000 Accumulated depreciation: $3,000,000 MetroTech's return on assets is:

In 2023, MetroTech Corporation reported: • • • • • • Net sales: $50,000,000 Beginning total assets: $15,000,000 Net earnings: $2,000,000 Ending total assets: $25,000,000 Depreciation expense: $500,000 Property, plant, and equipment: $10,000,000 Accumulated depreciation: $3,000,000 MetroTech's return on assets is:

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter8: Investing Activities

Section: Chapter Questions

Problem 1.3AIC: Estimate the average total estimated useful life of depreciable property, plant, and equipment....

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Estimate the average total estimated useful life of depreciable property, plant, and equipment. Starbucks reports 580.6 million of depreciation and amortization in the statement of cash flows, of which 4.5 million relates to amortization of limited-life intangible assets. Does the estimate reconcile with stated accounting policy on useful lives for property, plant, and equipment? Explain.
Based on the following information, how much capital expenditures did FIN3300F24 incur in 2023? FIN3300F24 Balance Sheet As of 12/31/23 As of 12/31/22 Cash $19,000 $54,000 A/R 96,000 75,000 Inventories 273,000 174,000 Total CA $388,000 $303,000 Gross FA 750,000 540,000 Less: accumulated depreciation 238,000 168,000 Net FA $512,000 $372,000 Total Assets $900,000 $675,000 Accounts payable $108,000 $51,000 Accruals 27,000 12,000 Notes payable 273,000 102,000 Total CL $408,000 $165,000 Long-term debt 137,700 172,500 Common stock 189,000 189,000 Retained earnings 165,300 148,500 Total L & E $900,000 $675,000 FIN3300F24 Income Statement 2023 Sales $960,000 Cost of goods sold 576,000 Gross profit $384,000 Operating expenses excluding depreciation $222,000 Depreciation 70,000…
29. Analyzing Fixed Assets Pitt reported the following information for 2021 and 2022: 2021 2022 Property, plant, and equipment, cost $550,000 $ 550,000 Accumulated depreciation 170,000 220,000 Net sales 4,600,000 Depreciation expense 50,000 Required: Compute Pitt's tangible capital asset turnover ratio and the average age of tangible depreciable capital assets. Round "Tangible Capital Asset Turnover" to two decimal places and "Average Age of Tangible Depreciable Capital Asset" to one decimal place.
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Input area: Installation cost Pretax salvage value Operating cost per year Initial NWC Tax rate Discount rate *Depreciation straight-line over life Output area: Annual depreciation charge Aftertax salvage value OCF NPV $ SA SA SA GA $ 385,000 $ 60,000 $ 135,000 35,000 21% 10% ᏌᏊ Ꮚ Ꮚ $ 77,000 $ 47,400 $ 122,820 5
At December 31, 2022, Concord Corporation reported the following plant assets. Land $ 3,640,000 Buildings $28,180,000 Less: Accumulated depreciation-buildings 12,681,000 15,499,000 Equipment 48,740,000 Less: Accumulated depreciation-equipment 6,092,500 42,647,500 Total plant assets $61,786,500 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,170,000O. May 1 Sold equipment that cost $750,000 when purchased on January 1, 2016. The equipment was sold for $225,000. June 1 Sold land for $1,510,000. The land cost $993,000. July 1 Purchased equipment for $1,093,000. Dec. 31 Retired equipment that cost $698,000 when purchased on December 31, 2013. No salvage value was received.
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