The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by Reyes Recreation 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: $ 1,090 725 Equipment Goodwill $ 470 575 480 45 Inventory Land 330 12 220 660 Licensing Rights Prepaid Rent 1,875 335 1. Prepare the asset section of a classified balance sheet for Reyes Recreation. 2-a. Using Reye's 2018 Net Sales Revenue of $4,650 (million) and its average Net Fixed Assets of $276 (million), calculate the fi 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 20.45? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Using Reye's 2018 Net Sales Revenue of $4,650 (million) and its average Net Fixed Assets of $276 (million), calculate the fixed asset turnover ratio for 2018. (Round your answer to 2 decimal places.) Fixed Asset Turnover Ratio 18.67
The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by Reyes Recreation 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: $ 1,090 725 Equipment Goodwill $ 470 575 480 45 Inventory Land 330 12 220 660 Licensing Rights Prepaid Rent 1,875 335 1. Prepare the asset section of a classified balance sheet for Reyes Recreation. 2-a. Using Reye's 2018 Net Sales Revenue of $4,650 (million) and its average Net Fixed Assets of $276 (million), calculate the fi 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 20.45? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Using Reye's 2018 Net Sales Revenue of $4,650 (million) and its average Net Fixed Assets of $276 (million), calculate the fixed asset turnover ratio for 2018. (Round your answer to 2 decimal places.) Fixed Asset Turnover Ratio 18.67
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by Reyes Recreation 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:
$ 1,090
725
Equipment
Goodwill
$ 470
575
480
Inventory
330
45
Land
12
220
660
Licensing Rights
Prepaid Rent
1,875
335
1. Prepare the asset section of a classified balance sheet for Reyes Recreation.
2-a. Using Reye's 2018 Net Sales Revenue of $4,650 (million) and its average Net Fixed Assets of $276 (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 20.45?
Answer is complete but not entirely correct.
Complete this question by entering your answers in the tabs below.
Req 1
Req 2A
Req 2B
Using Reye's 2018 Net Sales Revenue of $4,650 (million) and its average Net Fixed Assets of $276 (million), calculate the
fixed asset turnover ratio for 2018. (Round your answer to 2 decimal places.)
Fixed Asset Turnover Ratio
18.67
< Req 1
Req 2B >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F20a032be-b557-428f-9c05-285bc95d89fd%2F804bd26b-52ae-4dcf-a8ff-0c2759e8c4c8%2F35ydo5d_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by Reyes Recreation 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:
$ 1,090
725
Equipment
Goodwill
$ 470
575
480
Inventory
330
45
Land
12
220
660
Licensing Rights
Prepaid Rent
1,875
335
1. Prepare the asset section of a classified balance sheet for Reyes Recreation.
2-a. Using Reye's 2018 Net Sales Revenue of $4,650 (million) and its average Net Fixed Assets of $276 (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 20.45?
Answer is complete but not entirely correct.
Complete this question by entering your answers in the tabs below.
Req 1
Req 2A
Req 2B
Using Reye's 2018 Net Sales Revenue of $4,650 (million) and its average Net Fixed Assets of $276 (million), calculate the
fixed asset turnover ratio for 2018. (Round your answer to 2 decimal places.)
Fixed Asset Turnover Ratio
18.67
< Req 1
Req 2B >
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