Please help? Woodland Co. purchased a freight terminal that...
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Woodland Co. purchased a freight terminal that included land, a building, and some loading equipment for an aggregate price of $200,000. The estimated market value of the land, building, and equipment is $50,000, $150,000, and $25,000 respectively Using the estimated market value as a guide, allocate the total purchase price of the freight terminal to the land, building and equipment accounts in Woodland Co.'s records ANSWER: Amount Allocated To: Land Building, Equipment Hill Co. reported 2013 Net Sales of $1,750,000, Net Income of $500,000, Total Assets at the beginning of the year of $1,000,000, and Total Assets at the end of the year of $1,200,000. Determine the Return on Assets and Asset Tunover for Hill Co. ANSWER: Return on Assets ANSWER: Asset Turnover
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