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els chrome File Edit View History Bookmarks People window Help %&@ Portland State U × M Song analysis 2-ocat2@pdx x y D chapter 9 C | ezto.mheducation.com/hm.tpx ::: Apps > PSU login Netfix Coagulation Cascade D Blood LS Blog DatPM Tylenol Scholarship Scrib Connect ACCOUNTING Chapter 9 Question 1 (of 13) 1. M9-1 Classifying Long-Lived Assets and Related Cost Allocation Concepts [LO 9-1, LO 9.3, LC For each of the following long-lived assets, select its nature and related cost allocation concept Asset Nature Cost Allocation 1. Property 2. Delivery vans 4. Trademark 5. New engine 6. Franchise 7. Software icense 8Computers 9. Production plant

Explanation / Answer

1.

2.

3.

Hasbro Inc

Balance sheet (partial)

Assets:

Current assets

Cash and cash equivalents $680

Accounts receivable $1110

allowance for doubtful accounts ($20)   $1090

Inventory $350

Prepaids $355

Total current assets $2475

Land $10

Buildings $240

Equipment $490

Accumulated depreciation ($500) $230

Good will $595

Licensing rights $1835

Accummulated amortisation ($745) $1090

Total assets $4400

Fixed asset turnover ratio = Net sales / Fixed assets

= $4080 / $240

= 17 times.

Asset Nature Cost allocation Property Land No cost allocation Delivery van Delivery van Depreciation Warehouse Building Depreciation Trademark Intangible asset No cost allocation New engine Equipment Depreciation Franchise Intangible asset Amortisation Software license Intangible assset Amortisation Computers Equipment Depreciation Production plant Building Depreciation

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