Information related to plant assets, natural resources, and intangibles at the end of 2014 for Dent Company is as follows: buildings $1,100,000; accumulated depreciation—buildings $600,000; goodwill $410,000; coal mine $500,000; accumulated depletion—coal mine $108,000. Prepare a partial balance sheet of Dent Company for these items.
Answer to relevant QuestionsIn a recent annual report, Target reported beginning total assets of $44.1 billion; ending total assets of $44.5 billion; and net sales of $63.4 billion. Compute Target’s asset turnover.Pinewood Corporation purchased a piece of equipment for $70,000. It estimated an 8-year life and $2,000 salvage value. At the end of year four (before the depreciation adjustment), it estimated the new total life to be 10 ...Rottino Company purchased a new machine on October 1, 2014, at a cost of $150,000. The company estimated that the machine will have a salvage value of $12,000. The machine is expected to be used for 10,000 working hours ...During 2014 Paola Corporation reported net sales of $3,500,000 and net income of $1,500,000. Its balance sheet reported average total assets of $1,400,000.InstructionsCalculate the asset turnover.LaPorta Company and Lott Corporation, two corporations of roughly the same size, are both involved in the manufacture of in-line skates. Each company depreciates its plant assets using the straight-line approach. An ...
Post your question