Question
In: Accounting
Pearl Industries Ltd., a public company, presents you with the following information: (a) Complete the table...
Pearl Industries Ltd., a public company, presents you with the
following information:
(a)
Complete the table for the year ended December 31, 2024. The
company depreciates all assets for a half year in the year of
acquisition and the year of disposal. (Round answers to
0 decimal places, e.g. 5,275.)
| Description | Date Purchased |
Cost | Residual Value |
Life in Years |
Depreciation Method |
Accumulated Depreciation to Dec. 31, 2023 |
Depreciation for 2024 |
|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Machine A |
Dec. 2, 2022 |
$150,000 | $16,000 | 10 | select a method |
| $42,000 | $enter a dollar amount | |||||||||||||
|
Machine B |
Aug. 15, 2021 |
enter a dollar amount | 21,000 | 5 | Straight-line | 29,500 | enter a dollar amount | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Machine C |
July 21, 2020 |
72,800 | 24,000 | 8 | Double-declining-balance | enter a dollar amount | enter a dollar amount |
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Exercise 11-7 Coronado Industries presents you with the following information. Complete the table for the year...
Exercise 11-7
Coronado Industries presents you with the following
information.
Complete the table for the year ended December 31, 2019. The
company depreciates all assets using the half-year convention.
(Round answers to 0 decimal places, e.g.
45,892.)
Description
Date Purchased
Cost
Salvage Value
Life in Years
Depreciation Method
Accumulated Depreciation to 12/31/18
Depreciation for 2019
Machine A
2/12/17
$123,975
$13,920
10
(A)_____
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(B)_______
Machine B
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(C)______
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5
SL
25,230
(D)______
MAchine C
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65,598
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8
DDB...
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Quick ratio: 0.85
Days sales outstanding (based on 365-day year): 15 days
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Partial Income Statement Information
Sales
_______
Cost of goods sold $12,801,250
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_______ Accounts payable
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Complete the balance sheet and sales information in the table
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Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
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Total liabilities-to-assets ratio: 45%
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Do not round intermediate calculations. Round your answers to
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Partial Income
Statement
Information
Sales
$
Cost of goods sold...
Complete the balance sheet and sales information in the table that follows for J. White Industries...
Complete the balance sheet and sales information in the table
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Total liabilities-to-assets ratio: 50%
Quick ratio: 1.10
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Do not round intermediate calculations. Round your answers to
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Partial Income Statement
Information
Sales
$
Cost of goods...
Complete the balance sheet and sales information in the table that follows for J. White Industries...
Complete the balance sheet and sales information in the table
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data:
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Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
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Total liabilities-to-assets ratio: 40%
Quick ratio: 1.00
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Inventory turnover ratio: 3.50
Do not round intermediate calculations. Round your answers to
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Partial Income Statement
Information
Sales
$
Cost of goods...
Complete the balance sheet and sales information in the table that follows for J. White Industries...
Complete the balance sheet and sales information in the table
that follows for J. White Industries using the following financial
data: Total assets turnover: 2.8 Gross profit margin on sales:
(Sales - Cost of goods sold)/Sales = 26% Total
liabilities-to-assets ratio: 45% Quick ratio: 1.15 Days sales
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ratio: 4.0 Do not round intermediate calculations. Round your
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Partial Income
Statement
Information
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$
Cost of goods...
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Description
Date
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Cost
Salvage Value
Life in Years
Depreciation method
Accumulated Depreciation on 12/31/21
Depreciation for 2022
Machine A
2/1/20
$142,500
$16,000
10
(a)
$41,975
(b)
Machine B
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(c)
21,000
5
SL
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(d)
Machine C
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75,400
23,500
8
DDB
(e)
(f)
Machine D
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219,000
69,000
5
SYD
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(h)
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