Examine Round Rocks assets. 1. What is Round Rocks largest category of assets? List all 2011 assets
Question:
1. What is Round Rocks largest category of assets? List all 2011 assets in the largest category and their amounts as reported by Round Rock.
2. What was Round Rocks cost of property and equipment at May 31, 2011? What was the book value of property and equipment on this date? Why is book value less thancost?
Transcribed Image Text:
Round Rock Corporation Consolidated Balance Sheets (Partial, Adapted) May 31, (In millions) 2011 2010 1 Assets 2 Current assets 3 Cash and cash equivalents 4 Receivables, less allowances of $144 and $125... 5 Spare parts, supplies, and fuel S 2,098 246 2.772 2,610 4,510 411 4,670 468 10,008 6 Prepaid expenses and other 7 Total current assets 8 Property and equipment, at cost 9 Aircraft 10 Package handling and ground support equipment.1 11 Computer and electronic equipment 12 Vehicles 13 Facilities and other 14 Total cost 15 Less: Accumulated depreciation 16 Net property and equipment 17 Other long term assets 18 Goodwill 19 Prepaid pension 20 Intangible and other assets 2 Tal other long-term assets 22 Total assets 7,777 2,394 12,225 12,139 28,165 26,115 453 1435 1,594 44,805 42,695 2,394 586 14,903 (12,942) 29,902 29,753 724 1,275 329 2,328 42,299 39,858 724 1,341 324 2,389
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (6 reviews)
1 Property and Equipment at Cost Millions Aircraft 2394 Package handling and ground support ...View the full answer
Answered By
Sarfraz gull
have strong entrepreneurial and analytical skills which ensure quality tutoring and mentoring in your international business and management disciplines. Over last 3 years, I have expertise in the areas of Financial Planning, Business Management, Accounting, Finance, Corporate Finance, International Business, Human Resource Management, Entrepreneurship, Marketing, E-commerce, Social Media Marketing, and Supply Chain Management.
Over the years, I have been working as a business tutor and mentor for more than 3 years. Apart from tutoring online I have rich experience of working in multinational. I have worked on business management to project management.
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
Question Posted:
Students also viewed these Accounting questions
-
Examine Riverside's assets as follows: 1. What is Riverside's largest category of assets? List all 2017 assets in the largest category and their amounts as reported by Riverside. 2. What was...
-
Holtzman Company is in the process of preparing its financial statements for 2014. Assume that no entries for depreciation have been recorded in 2014. The following information related to...
-
Reply as to whether you believe the following statements are correct (C) or incorrect (I) concerning PPS sampling. a. The size of a PPS sample is not based on the estimated variation of audited...
-
Two objects, A and B, are acted on by the forces shown in the FBDs. Is the magnitude of the net force acting on object B greater than, less than, or equal to the magnitude of the net force acting on...
-
JJS Corporation purchased a building on January 1, 2011, for a total of $12,000,000. The building has been depreciated using the straight-line method with a 20-year useful life and no residual value....
-
Discuss why it is important to report significant changes in a patients condition to the treating physician.
-
On January 1, 2012, Wilmes Floral supplies borrowed $2,413 from Bower Financial Services. Wilmes Floral Supplies gave Bower a $2,500 note with a maturity date of December 31, 2013. The note specified...
-
A firm has forecasted sales of $4,000 in January, $6,000 in February, and $5,500 in March. All sales are on credit. 40% is collected the month of sale and the remainder the following month. How much...
-
Based on the attached case details address the following in at least 1. External environment (threats and opportunities) 2. Internal capabilities 3. Recommended business-level strategy to follow Case...
-
The consolidated financial statements of Amazon.com, Inc., are given in Appendix A at the end of this book. 1. Refer to Note 1 Description of Business and Accounting Policies, under Investments....
-
This chapter lists the costs included for the acquisition of land on pages. First is the purchase price of the land, which is obviously included in the cost of the land. The reasons for including the...
-
Scientists often use the logistic growth function to model population growth, where P 0 is the initial population at time t = 0, K is the carrying capacity, and r 0 is the base growth rate. The...
-
True Or False Plaintiffs should enter into releases as soon as the defendant offers to settle the case.
-
(new) What is the difference between a release and a covenant not to sue?
-
True Or False In the context of contribution, tortfeasors need not necessarily pay an equal share of the damages.
-
When is the doctrine of joint and several liability applicable, and when is it not?
-
True Or False A social trip is considered a joint venture because there is sharing of pecuniary interests.
-
What are some of the bases on which markets can be delineated, and what determines which approach is used?
-
How do individual companies respond to economic forces throughout the globe? One way to explore this is to see how well rates of return for stock of individual companies can be explained by stock...
-
Your new podcast channel, School2Biz, offers advice to business students making the transition from college to career. You provide information on everything from preparing rsums to interviewing to...
-
Here are some qualitative characteristics of useful accounting information: 1. Predictive value 2. Neutral 3. Verifiable 4. Timely Match each qualitative characteristic to one of the following...
-
Here are some qualitative characteristics of useful accounting information: 1. Predictive value 2. Neutral 3. Verifiable 4. Timely Match each qualitative characteristic to one of the following...
-
Here are some qualitative characteristics of useful accounting information: 1. Predictive value 2. Neutral 3. Verifiable 4. Timely Match each qualitative characteristic to one of the following...
-
Martinez Company buys merchandise on account from Marigold Company for $592. Martinez sells the goods to Ellis for $900 cash. Use a tabular summary to record the transactions for Martinez Company...
-
The section has tension and compression steel reinforcement. When the neutral axis depth is at infinity, c = , the section is in uniform compression, all points on the section have 0.003 compressive...
-
The Big Choo Choo Company (BCCC) owns a rail line from the town of Isolated to the coastal port of Notso. It cost them $20 million to build the rail line in 2016. It is now 2023. The Small Gold...
Study smarter with the SolutionInn App