September 2023 The following given in scrambled order are accounts and balances from the accounting records of

2024 FIN 400 Module 4 Assignment – Classified Balance Sheets Assignment Help

The following given in scrambled order are accounts and balances from the accounting records of 2023

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: 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. Compute the total asset turnover rate assuming that total revenues in 2012 were $682,500. Round to the nearest hundredth, e.g. 3.33. Assume that Alleg’s primary competitor has an asset turnover of 2.12. What does this tell you about Alleg’s asset management? Submit your assignment to the Week 4 Assignments page. Ensure your work is accurate and reflects Guide to Writing and APA Requirements .

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