Analyzing financial statement assignment

Jul 4th, 2016
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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. 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?

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Financial Statement AnalysisAlleged IncClassified Balance sheetAs on Dec 31st, 2012AssetsAmountAmountCurrent Assets:Cash$14,000Account Receivable$26,000Inventory$33,000Marketable equity securities$17,000Total current assets$90,000$116,000Total intangibles:$22,000Other Assets:$45,000Propert, Plant & Equipments:Land & Building$57,000Machinery & Equipment$120,000$177,000$61,000Less: Accumulated depreciationTotal Property, Plant & equipments(Net)Intangible assets:Goodwill$13,000Patents$9,000Total Assets:$273,000$27,000Total Long term liabilities:$163,000Total Liabilities$190,000$83,000Liabilities:Current liabilities:Accounts Payable$16,000Current maturities of long term debt$11,000Total current liabilitiesLong Term liabilities:Mortgage payable$80,000B

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