Compute Net Operating Assets Refer to the balance sheet information below for Home Depot. $ millions Feb. 3, 2019 Jan. 28, 2018 Operating assets $31,669 $30,701 Nonoperating assets 1,334 2,696 Total assets $33,003 $33,397 Operating liabilities $12,509 $12,035 Nonoperating liabilities 21,902 20,271 Total liabilities $34,411 $32,306 Net sales $81,152 Operating expense before tax 69,505 Net operating profit before tax (NOPBT) 11,647 Other expense 731 Income before tax 10,916 Tax expense 2,576 Net income $8,340 Compute net operating assets for the years ended February 3, 2019, and January 28, 2018. $ millions February 3, 2019 January 28, 2018 Net operating assets (NOA) Answer Answer

Compute Net Operating Assets Refer to the balance sheet information below for Home Depot. $ millions Feb. 3, 2019 Jan. 28, 2018 Operating assets $31,669 $30,701 Nonoperating assets 1,334 2,696 Total assets $33,003 $33,397 Operating liabilities $12,509 $12,035 Nonoperating liabilities 21,902 20,271 Total liabilities $34,411 $32,306 Net sales $81,152 Operating expense before tax 69,505 Net operating profit before tax (NOPBT) 11,647 Other expense 731 Income before tax 10,916 Tax expense 2,576 Net income $8,340 Compute net operating assets for the years ended February 3, 2019, and January 28, 2018. $ millions February 3, 2019 January 28, 2018 Net operating assets (NOA) Answer Answer

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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Compute Net Operating Assets Refer to the balance sheet information below for Home Depot. $ millions Feb. 3, 2019 Jan. 28, 2018 Operating assets $40,114 $38,887 Nonoperating assets 1,689 3,415 Total assets $41,803 $42,302 Operating liabilities $15,845 $15,245 Nonoperating liabilities 27,742 25,677 Total liabilities $43,587 $40,922 Net sales $102,793 Operating expense before tax 88,039 Net operating profit before tax (NOPBT) 14,754 Other expense 925 Income before tax 13,829 Tax expense 3,263 Net income $10,566 Compute net operating assets for the years ended February 3, 2019, and January 28, 2018. $ millions February 3, 2019 January 28, 2018 Net operating assets (NOA) Answer Answer
Refer to the balance sheet information below for Home Depot. $ millions Feb. 3, 2019 Jan. 28, 2018 Operating assets Nonoperating assets Total assets Operating liabilities Nonoperating liabilities Total liabilities Net sales $13,837 $13,414 583 1,178 $14,420 $14,592 $5,466 $5,259 9,569 8,857 $15,035 $14,116 $35,458 Operating expense before tax 30,369 Net operating profit before tax (NOPBT) 5,089 Other expense 319 Income before tax Tax expense Net income 4,770 1,126 $3,644 a. Compute return on net operating assets (RNOA). Assume a statutory tax rate of 22%. Note: 1. Select the appropriate numerator and denominator used to compute RNOA from the drop-down menu options. 2. Enter the numerator and denominator amounts to compute 2018 RNOA. Denominator Average NOA NOPAT $ Numerator $ RNOA 8,263 0% b. Disaggregate RNOA into components of profitability (NOPM) and productivity (NOAT). Assume a statutory tax rate of 22%. Note: 1. Select the appropriate numerator and denominator used to compute…
The condensed financial statements of Evoc Company for the years 2019 and 2020 are presented as follows. Evoc CompanyStatements of Financial PositionDecember 31 2020 2019 Intangibles and other assets € 530 € 510 Property, plant, and equipment 420 380 Investments 10 10 Current assets Prepaid expenses €120 €160 Inventory 430 390 Accounts receivable (net) 470 433 Cash and cash equivalents 330 1,350 360 1,343 Total assets €2,310 €2,243 Equity €1,020 €1,040 Non‐current liabilities 390 393 Current liabilities 900 810 Total equity and liabilities €2,310 €2,243 Evoc CompanyIncome StatementsFor the Years Ended December 31 2020 2019 Sales revenue €4,000 €3,600 Costs and expenses Cost of goods sold 984 895 Selling and administrative expenses 2,400 2,330 Interest expense 10 20 Total costs and expenses 3,394 3,245 Income before income taxes 606…
Compute RNOA with Disaggregation Refer to the balance sheet information below for Home Depot. $ millions Feb. 3, 2019 Jan. 28, 2018 Operating assets $9,940 $9,636 Nonoperating assets 419 846 Total assets $10,359 $10,482 Operating liabilities $3,926 $3,777 Nonoperating liabilities 6,874 6,362 Total liabilities $10,800 $10,139 Net sales $25,471 Operating expense before tax 21,815 Net operating profit before tax (NOPBT) 3,656 Other expense 229 Income before tax 3,427 Tax expense 809 Net income $2,618 a. Compute return on net operating assets (RNOA). Assume a statutory tax rate of 22%. Note: 1. Select the appropriate numerator and denominator used to compute RNOA from the drop-down menu options. 2. Enter the numerator and denominator amounts to compute 2018 RNOA. Numerator Denominator RNOA Answer Answer Answer Answer b. Disaggregate RNOA into components of profitability (NOPM) and productivity (NOAT). Assume a…
The condensed financial statements of Evoc Company for the years 2019 and 2020 are presented as follows. Evoc CompanyStatements of Financial PositionDecember 31 2020 2019 Intangibles and other assets € 530 € 510 Property, plant, and equipment 420 380 Investments 10 10 Current assets Prepaid expenses €120 €160 Inventory 430 390 Accounts receivable (net) 470 433 Cash and cash equivalents 330 1,350 360 1,343 Total assets €2,310 €2,243 Equity €1,020 €1,040 Non‐current liabilities 390 393 Current liabilities 900 810 Total equity and liabilities €2,310 €2,243 Evoc CompanyIncome StatementsFor the Years Ended December 31 2020 2019 Sales revenue €4,000 €3,600 Costs and expenses Cost of goods sold 984 895 Selling and administrative expenses 2,400 2,330 Interest expense 10 20 Total costs and expenses 3,394 3,245 Income before income taxes 606…
The condensed financial statements of Evoc Company for the years 2019 and 2020 are presented as follows. Evoc CompanyStatements of Financial PositionDecember 31 2020 2019 Intangibles and other assets € 530 € 510 Property, plant, and equipment 420 380 Investments 10 10 Current assets Prepaid expenses €120 €160 Inventory 430 390 Accounts receivable (net) 470 433 Cash and cash equivalents 330 1,350 360 1,343 Total assets €2,310 €2,243 Equity €1,020 €1,040 Non‐current liabilities 390 393 Current liabilities 900 810 Total equity and liabilities €2,310 €2,243 Evoc CompanyIncome StatementsFor the Years Ended December 31 2020 2019 Sales revenue €4,000 €3,600 Costs and expenses Cost of goods sold 984 895 Selling and administrative expenses 2,400 2,330 Interest expense 10 20 Total costs and expenses 3,394 3,245 Income before income taxes 606…
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Balance Sheet as at As at 30/9/16 As at 30/9/15 $ $ Assets Current assets- Cash 8,200 9,400 Accounts Receivable 107,000 103,500 Inventory 82,700 71,300 Non-current assets less accumulated depreciation 242,600 245,700 Total assets 440,500 429,900 Liabilities and Owners' equity Current liabilities 117,000 120,000 Loan (repayable in 2019) 152,000 150,000 Total liabilities 269,000 270,000 Owners' equity 171,500 159,900 Total Liabilities and Owners' equity 440,500 429,900 Summarised Income Statement of Bishan Enterprise for the year ended 30 September 2016 $ Sales 990,000 Cost of goods sold 580,000 Gross profit 410,000 Operating expenses 350,000 Net profit 60,000 · Note - The owner withdrew $48,400 during 2016. Required: Calculate…
The condensed financial statements of Carla Vista Co. for the years 2021 and 2022 are presented below. CARLA VISTA CO.Balance SheetsDecember 31 (in thousands)20222021Current assets Cash and cash equivalents$330$360 Accounts receivable (net)590520 Inventory640570 Prepaid expenses130160 Total current assets1,6901,610Property, plant, and equipment (net)410380Investments130130Intangibles and other assets530510 Total assets$2,760$2,630Current liabilities$940$910Long-term liabilities660560Stockholders’ equity—common1,1601,160 Total liabilities and stockholders’ equity$2,760$2,630 CARLA VISTA CO.Income StatementsFor the Year Ended December 31 (in thousands)20222021Sales revenue$3,980$3,640Costs and expenses Cost of goods sold1,0901,010 Selling & administrative expenses2,4002,330 Interest expense1020 Total costs and expenses3,5003,360Income before income taxes480280Income tax expense192112Net income$ 288$ 168 Compute the following ratios for 2022 and 2021.…
Financial statements for the Genatron Manufacturing Corporation for the years 2020 and 2019 are shown. Genatron Manufacturing CorporationBalance Sheet 2020 2019 ASSETS Cash $41,847 $50,643 Accts. receivable 261,201 201,804 Inventory 504,430 450,954 Total current assets 807,478 703,401 Fixed assets, net 400,000 300,000 Total assets $1,207,478 $1,003,401 LIABILITIES AND EQUITY Accts. payable $170,208 $134,265 Bank loan 91,242 91,242 Accruals 70,000 50,000 Total current liabilities 331,450 275,507 Long-term debt, 12% 392,625 293,723 Common stock, $10 par 300,000 300,000 Capital surplus 48,173 48,173 Retained earnings 135,230 85,998 Total liabilities & equity $1,207,478 $1,003,401 Genatron Manufacturing CorporationIncome Statement 2020 2019…
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Sandhill Co. has these comparative balance sheet data: SANDHILL CO.Balance SheetsDecember 31 2020 2019 Cash $ 29,205 $ 58,410 Accounts receivable (net) 136,290 116,820 Inventory 116,820 97,350 Plant assets (net) 389,400 350,460 $671,715 $623,040 Accounts payable $ 97,350 $ 116,820 Mortgage payable (15%) 194,700 194,700 Common stock, $10 par 272,580 233,640 Retained earnings 107,085 77,880 $671,715 $623,040 Additional information for 2020: 1. Net income was $34,900. 2. Sales on account were $378,200. Sales returns and allowances amounted to $29,600. 3. Cost of goods sold was $204,700. 4. Net cash provided by operating activities was $57,300. 5. Capital expenditures were $28,200, and cash dividends were $13,800. Only the first 3 were answered the last time, I need all of these answered now. Compute the following ratios at December 31,…