{"id":9694,"date":"2021-07-02T16:48:56","date_gmt":"2021-07-02T16:48:56","guid":{"rendered":"https:\/\/papersspot.com\/blog\/2021\/07\/02\/classifications-of-current-assets-plant-and-equipment\/"},"modified":"2021-07-02T16:48:56","modified_gmt":"2021-07-02T16:48:56","slug":"classifications-of-current-assets-plant-and-equipment","status":"publish","type":"post","link":"https:\/\/papersspot.com\/blog\/2021\/07\/02\/classifications-of-current-assets-plant-and-equipment\/","title":{"rendered":"Classifications of current assets, plant and equipment"},"content":{"rendered":"<p>, as of December 31, 2012,<br \/> after the books were closed for the year.\u00a0<\/p>\n<p> Common stock, authorized 21,000 share <br \/> \u00a0At $1 par value, issued 12,000 shares <br \/> $12,000<br \/> Additional paid-in capital<br \/> \u00a0 38,000<br \/> Cash<br \/> \u00a0 14,000<br \/> Marketable securities<br \/> \u00a0 17,000<br \/> Accounts receivable<br \/> \u00a0 26,000<br \/> Accounts Payable<br \/> \u00a0 16,000<br \/> Current maturities of long-term debt<br \/> \u00a0 11,000<br \/> Mortgages payable<br \/> \u00a0 80,000<br \/> Bonds payable<br \/> \u00a0 65,000<br \/> Inventory<br \/> \u00a0 33,000<br \/> Land and buildings<br \/> \u00a0 57,000<br \/> Machinery and equipment<br \/> 120,000<br \/> Goodwill<br \/> \u00a0 13,000<br \/> Patents<br \/> \u00a0 9,000<br \/> Other assets<br \/> \u00a0 45,000<br \/> Deferred income taxes (long-term liability)<br \/> \u00a0 18,000<br \/> Retained earnings<br \/> \u00a0 33,000<br \/> Accumulated depreciation<br \/> \u00a0 61,000<\/p>\n<p> Bonds and mortgages generally have 10-30 years until maturity.<br \/> Marketable securities are short-term investments that can be converted<br \/> to cash in a matter of minutes.\u00a0 <\/p>\n<p> Required:\u00a0 <\/p>\n<p> Prepare a classified balance sheet with a proper heading on a<br \/> spreadsheet.\u00a0For assets, use the classifications of current assets,<br \/> plant and equipment, intangibles, and other assets.\u00a0For liabilities,<br \/> use the classifications of current liabilities and long-term<br \/> liabilities. <br \/>Compute the total asset turnover rate assuming that total<br \/> revenues in 2012 were $682,500. Round to the nearest hundredth, e.g.<br \/> 3.33. <br \/>Assume that Alleg\u2019s primary competitor has an asset turnover of 2.12. What does this tell you about Alleg\u2019s asset management? <\/p>\n","protected":false},"excerpt":{"rendered":"<p>, as of December 31, 2012, after the books were closed for the year.\u00a0 Common stock, authorized 21,000 share \u00a0At $1 par value, issued 12,000 shares $12,000 Additional paid-in capital \u00a0 38,000 Cash \u00a0 14,000 Marketable securities \u00a0 17,000 Accounts receivable \u00a0 26,000 Accounts Payable \u00a0 16,000 Current maturities of long-term debt \u00a0 11,000 Mortgages [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[15],"class_list":["post-9694","post","type-post","status-publish","format-standard","hentry","category-research-paper-writing","tag-business"],"_links":{"self":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/9694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/comments?post=9694"}],"version-history":[{"count":0,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/9694\/revisions"}],"wp:attachment":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/media?parent=9694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/categories?post=9694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/tags?post=9694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}