*Brief Exercise 9-11 Prepare a partial balance sheet for N

*Brief Exercise 9-11 Prepare a partial balance sheet for Nike for these items.(List Property Plant and Equipment in order of Land Buildings and Equipment.) Partial Balance Sheet As of May 31 2014 (in millions) *Exercise 9-7 Record entries for the disposal under the following assumptions.(Credit account titles are automatically indented when amount is entered. Do not indent manually.) *Exercise 9-8 Journalize all entries required on the above dates including entries to update depreciation on assets disposed of where applicable. Cleland Corporation uses straight-line depreciation.(Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Broadening Your Perspective 9-1 CONSOLIDATED STATEMENTS OF Earnings Comprehensive Earnings and Retained Earnings (in thousands except per share data) Financial Position TOOTSIE ROLL INDUSTRIES INC. AND SUBSIDIARIES (in thousands except per share data) CONSOLIDATED STATEMENTS OF Cash Flows (in thousands) Notes to Consolidated Financial Statements ($ in thousands) PROPERTY PLANT AND EQUIPMENT: Depreciation is computed for financial reporting purposes by use of the straight-line method based on the useful lives of 20 to 35 years for building and 5 to 25 years for machinery and equipment. Depreciation expenses was $19229 $18279 and $17862 in 2011 2010 and 2009 respectively. Goodwill and intangible assets: In accordance with authoritative guidance goodwill and intangible assets with indefinite lives are not amortized but rather tested for impairment at least annually unless certain interim triggering events or circumstances require more frequent testing. All trademarks have been assessed by management to have indefinite lives because they are expected to generate cash flows indefinitely. The Company has completed its annual impairment testing of its goodwill and trademarks at December 31 of each of the years presented. As of December 31 2009 management ascertained that certain trademarks were impaired and recorded a pre-tax charge of $14000. No impairments of intangibles were recorded in 2011 and 2010. This determination is made by comparing the carrying value of the asset with its estimated fair value which is calculated using estimates including discounted projected future cash flows. If the carrying value of goodwill exceeds the fair value a second step would measure the carrying value and implied fair value of goodwill. Management believes that all assumptions used for the impairment tests are consistent with those utilized by market participants performing similar valuations. Answer the following questions. Broadening Your Perspective 9-2 CONSOLIDATED STATEMENTS OF INCOME CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS OF CASH FLOWS CONSOLIDATED STATEMENTS OF Earnings Comprehensive Earnings and Retained Earnings (in thousands except per share data) Financial Position TOOTSIE ROLL INDUSTRIES INC. AND SUBSIDIARIES (in thousands except per share data) CONSOLIDATED STATEMENTS OF Cash Flows (in thousands) Based on the information in these financial statements and the accompanying notes and schedules compute the following values for each company in 2011.(Round all percentages to 1 decimal places e.g. 15.1% and asset turnover ratio to 2 decimal places e.g. 15.21.) (1) Return on assets. (2) Profit margin (use Total Revenue). (3) Asset turnover. *Problem 9-2A During 2015 the following selected cash transactions occurred. Partial Balance Sheet December 31 2015 *Problem 8-3A At December 31 2013 the unadjusted balance in Allowance for Doubtful Accounts is a credit of $6200.

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