The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by Agate Playthings a leading manufacturer of games, toys, and interactive entertainment software for children and families: Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Buildings Cash and Cash Equivalents Required: $ 1,094 Equipment $ 474 729 Goodwill 579 484 Inventory 334 41 Land 10 224 664 Licensing Rights Prepaid Rent 1,871 339 1. Prepare the asset section of a classified balance sheet for Agate Playthings. 2-a. Using Agate's 2018 Net Sales Revenue of $4,630 (million) and its average Net Fixed Assets of $272 (million), calculate the fixed asset turnover ratio for 2018. 2-b. Has the company generated more or less revenue from each dollar of fixed assets than in 2017, when the ratio was 20.43? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Prepare the asset section of a classified balance sheet for Agate Playthings. (Enter assets in the order of their liquidity. Enter your answers in millions. Amounts to be deducted should be indicated by a minus sign.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by Agate Playthings a leading
manufacturer of games, toys, and interactive entertainment software for children and families:
Accounts Receivable
Accumulated Amortization
Accumulated Depreciation
Allowance for Doubtful Accounts
Buildings
Cash and Cash Equivalents
Required:
$ 1,094
Equipment
$ 474
729
Goodwill
579
484
Inventory
334
41
Land
10
224
664
Licensing Rights
Prepaid Rent
1,871
339
1. Prepare the asset section of a classified balance sheet for Agate Playthings.
2-a. Using Agate's 2018 Net Sales Revenue of $4,630 (million) and its average Net Fixed Assets of $272 (million), calculate the fixed
asset turnover ratio for 2018.
2-b. Has the company generated more or less revenue from each dollar of fixed assets than in 2017, when the ratio was 20.43?
Complete this question by entering your answers in the tabs below.
Req 1
Req 2A
Req 2B
Prepare the asset section of a classified balance sheet for Agate Playthings. (Enter assets in the order of their liquidity. Enter
your answers in millions. Amounts to be deducted should be indicated by a minus sign.)
Transcribed Image Text:The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by Agate Playthings a leading manufacturer of games, toys, and interactive entertainment software for children and families: Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Buildings Cash and Cash Equivalents Required: $ 1,094 Equipment $ 474 729 Goodwill 579 484 Inventory 334 41 Land 10 224 664 Licensing Rights Prepaid Rent 1,871 339 1. Prepare the asset section of a classified balance sheet for Agate Playthings. 2-a. Using Agate's 2018 Net Sales Revenue of $4,630 (million) and its average Net Fixed Assets of $272 (million), calculate the fixed asset turnover ratio for 2018. 2-b. Has the company generated more or less revenue from each dollar of fixed assets than in 2017, when the ratio was 20.43? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Prepare the asset section of a classified balance sheet for Agate Playthings. (Enter assets in the order of their liquidity. Enter your answers in millions. Amounts to be deducted should be indicated by a minus sign.)
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