2023 Choose one of the following two assignments to complete this week Do | Assignments Online

 

Choose one of the following two assignments to complete this week. Do not do both assignments. Identify your assignment choice in the title of your submission.

Assignment Choice #1

The following (given in scrambled order) are accounts and balances from the accounting records of Alleg, Inc., as of December 31, 2012, after the books were closed for the year. 

Common stock, authorized 21,000 share 
           At $1 par value, issued 12,000 Shares

$12,000

Additional paid-in capital

  38,000

Cash

  14,000

Marketable securities

  17,000

Accounts receivable

  26,000

Accounts Payable

  16,000

Current maturities of long-term debt

  11,000

Mortgages payable

  80,000

Bonds payable

  65,000

Inventory

  33,000

Land and buildings

  57,000

Machinery and equipment

120,000

Goodwill

  13,000

Patents

    9,000

Other assets

  45,000

Deferred income taxes (long-term liability)

  18,000

Retained earnings

  33,000

Accumulated depreciation

  61,000

Bonds and mortgages generally have 10-30 years until maturity. Marketable securities are short-term investments that can be converted to cash in a matter of minutes. 

Required: 

1. Prepare a classified balance sheet with a proper heading on a spreadsheet. For assets, use the classifications of current assets, plant and equipment, intangibles, and other assets. For liabilities, use the classifications of current liabilities and long-term liabilities.
2. Compute the total asset turnover rate assuming that total revenues in 2012 were $682,500. Round to the nearest hundredth, e.g., 3.33.
3. Assume that Alleg’s primary competitor has an asset turnover of 2.12. What does this tell you about Alleg’s asset management?

Ensure your work is accurate and reflects CSU-Global Guide to Writing and APA Requirements.

Assignment Choice #2

After reading case 3-1 “Convenience Foods” in the textbook, write an essay that includes the following elements:

1. A formal introduction.
2. Answers to questions (a) through (k) of the case, focusing on the company’s process to consolidate its balance sheets.
3. A conclusion.

Your submitted paper should be at least 2-3 pages long and written according to CSU-Global Guide to Writing and APA Requirements, following APA style, and properly referenced.

Note that the textbook author is citing a source in this case, which must be considered when forming your references and citations.