The following is a list of account titles and amounts (In millions) reported at December 30, 2018, by Joyful Amusements a leading manufacturer of games, toys, and Interactive entertainment software for children and familles: $ 1,133 761 516 43 256 696 Equipment Goodwill Inventory Land Licensing Rights Prepaid Rent Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Buildings Cash and Cash Equivalents Required: 1. Prepare the asset section of a classified balance sheet for Joyful Amusements. 2-a. Using Joyful's 2018 Net Sales Revenue of $4,530 (million) and its average Net Fixed Assets of $266 (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 18.33? $ 506 611 366 7 1,851 371

The following is a list of account titles and amounts (In millions) reported at December 30, 2018, by Joyful Amusements a leading manufacturer of games, toys, and Interactive entertainment software for children and familles: $ 1,133 761 516 43 256 696 Equipment Goodwill Inventory Land Licensing Rights Prepaid Rent Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Buildings Cash and Cash Equivalents Required: 1. Prepare the asset section of a classified balance sheet for Joyful Amusements. 2-a. Using Joyful's 2018 Net Sales Revenue of $4,530 (million) and its average Net Fixed Assets of $266 (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 18.33? $ 506 611 366 7 1,851 371

Name: PART TWO OF THE QUESTION:USING JOYFUL'S 2018 SALES REVENUE OF $4,530 (
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Description: PART TWO OF THE QUESTION:USING JOYFUL'S 2018 SALES REVENUE OF $4,530 (MILLION) AND ITS AVERGAE NET FIXED ASSESTS OF $266 (MILLION), CALCULATE THE FIXED ASSET TURN OVER RATIO FOR 2018. (ROUND TO THE NEAREST 2 DECIMAL PLACE). The following is a list of

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 6AP

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