The balance sheet for Vernon Corporation follows: Current assets $ 246,000 Long-term assets (net) 761,000 Total...
The balance sheet for Vernon Corporation follows:
| Current assets | $ | 246,000 | |
| Long-term assets (net) | 761,000 | ||
| Total assets | $ | 1,007,000 | |
| Current liabilities | $ | 155,000 | |
| Long-term liabilities | 457,000 | ||
| Total liabilities | 612,000 | ||
| Common stock and retained earnings | 395,000 | ||
| Total liabilities and stockholders’ equity | $ | 1,007,000 | |
Required
Compute the following. (Round "Ratios" to 1 decimal place.)
| Working capital | ||
| Current ratio | ||
| Debt to assets ratio | % | |
| Debt to equity ratio | ||
Following is the balance sheet of Adams Company for 2018:
| ADAMS COMPANY Balance sheet |
|||
| Assets | |||
| Cash | $ | 14,800 | |
| Marketable securities | 7,540 | ||
| Accounts receivable | 13,340 | ||
| Inventory | 11,300 | ||
| Property and equipment | 167,000 | ||
| Accumulated depreciation | (12,700 | ) | |
| Total assets | $ | 201,280 | |
| Liabilities and Stockholders’ Equity | |||
| Accounts payable | $ | 8,060 | |
| Current notes payable | 3,920 | ||
| Mortgage payable | 4,250 | ||
| Bonds payable | 21,900 | ||
| Common stock | 113,700 | ||
| Retained earnings | 49,450 | ||
| Total liabilities and stockholders’ equity | $ | 201,280 | |
The average number of common stock shares outstanding during 2018 was 880 shares. Net income for the year was $14,900.
Required
Compute each of the following: (Round your answers to 2 decimal places.)
| a. | Current ratio | ||
| b. | Earnings per share | per share | |
| c. | Quick (acid-test) ratio | ||
| d. | Return on investment | % | |
| e. | Return on equity | % | |
| f. | Debt to equity ratio | % | |
Homework Answers
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The balance sheet for Vernon Corporation follows:
Current assets
$
246,000
Long-term assets (net)
761,000
Total...
The balance sheet for Munoz Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities...
The balance sheet for Munoz Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $ 235,000 762,000 $997,000 $160,000 457,000 617,000 380,000 $997,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) ace Working capital Current ratio Debt to assets ratio Debt to equity ratio
The balance sheet for Fanning Corporation follows: Current assets 237,000 Long-term assets (net) 757,000 Total assets...
The balance sheet for Fanning Corporation follows: Current assets 237,000 Long-term assets (net) 757,000 Total assets $994,000 Current liabilities $146,000 Long-term liabilities 443,000 Total liabilities 589,000 Common stock and retained earnings 405,000 Total liabilities and stockholders' equity $994,000 Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt to assets ratio Debt to equity ratio
The balance sheet for Baird Corporation follows: Current assets $ 238,000 Long-term assets (net) 763,000 Total...
The balance sheet for Baird Corporation follows: Current assets $ 238,000 Long-term assets (net) 763,000 Total assets $ 1,001,000 Current liabilities $ 154,000 Long-term liabilities 444,000 Total liabilities 598,000 Common stock and retained earnings 403,000 Total liabilities and stockholders’ equity $ 1,001,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital current ratio debt to assets ratio % debt to equity ratio
The balance sheet for Fanning Corporation follows: Current assets $232,000 763,000 Long-term assets (net) Total assets...
The balance sheet for Fanning Corporation follows: Current assets $232,000 763,000 Long-term assets (net) Total assets $995,000 Current liabilities $153,000 460,000 613,000 382,000 Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $995,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio % Debt to assets ratio Debt to equity ratio
The balance sheet for Gibson Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities...
The balance sheet for Gibson Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Connon stock and retained earnings Total liabilities and stockholders' equity $ 231,000 757,eee $988, eee $156,888 459,eee 615, eee 373,600 $988,eee Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt to assets ratio Debt to equity ratio 29
The balance sheet for Jordan Corporation follows: Current as sets $ 250,000 766,000 Long-term assets (net)...
The balance sheet for Jordan Corporation follows: Current as sets $ 250,000 766,000 Long-term assets (net) Total assets $1,016,000 Current liabilities $ 155,000 445,000 600,000 416,000 Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $1,016,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio % Debt to assets ratio Debt to equity ratio
Q.9 The balance sheet for Solomon Corporation follows: Current assets $ 237,000 Long-term assets (net) 752,...
Q.9
The balance sheet for Solomon Corporation follows:
Current assets
$
237,000
Long-term assets (net)
752,000
Total assets
$
989,000
Current liabilities
$
156,000
Long-term liabilities
450,000
Total liabilities
606,000
Common stock and retained earnings
383,000
Total liabilities and stockholders’ equity
$
989,000
Required
Compute the following. (Round "Ratios" to 1 decimal
place.)
Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash...
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 14,550 7,900 12,800 11,200 167,500 (12,900) $ 201,050 8.690 3,000 4,300 21.360 113,700 50,000 $ 201,050 The average number of common stock shares outstanding during 2018 was 860 shares....
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash...
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 15,250 8,220 13,340 11,500 166,000 (12,600) $ 201,710 $ 8,660 3,120 4,150 21,600 113,500 50,680 $ 201, 710 The average number of common stock shares outstanding during 2018 was...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets Liabilities Cash $ 19,000 Accounts payable $ 21,000 Accounts receivable 24,000 Notes payable 29,000 Inventory 34,000 Bonds payable 59,000 Prepaid expenses 12,900 Fixed Assets Stockholders’ Equity Gross plant and equipment $ 259,000 Preferred stock $ 29,000 Less: Accumulated depreciation 51,800 Common stock 64,000 Paid in Capital 34,000 Net plant and equipment $ 207,200 Retained earnings 61,100 Total assets $ 297,100 Total liabilities and stockholders’...
The balance sheet for Munoz Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $ 235,000 762,000 $997,000 $160,000 457,000 617,000 380,000 $997,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) ace Working capital Current ratio Debt to assets ratio Debt to equity ratio
The balance sheet for Fanning Corporation follows: Current assets $232,000 763,000 Long-term assets (net) Total assets $995,000 Current liabilities $153,000 460,000 613,000 382,000 Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $995,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio % Debt to assets ratio Debt to equity ratio
The balance sheet for Gibson Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Connon stock and retained earnings Total liabilities and stockholders' equity $ 231,000 757,eee $988, eee $156,888 459,eee 615, eee 373,600 $988,eee Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt to assets ratio Debt to equity ratio 29
The balance sheet for Jordan Corporation follows: Current as sets $ 250,000 766,000 Long-term assets (net) Total assets $1,016,000 Current liabilities $ 155,000 445,000 600,000 416,000 Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $1,016,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio % Debt to assets ratio Debt to equity ratio
Q.9
The balance sheet for Solomon Corporation follows:
Current assets
$
237,000
Long-term assets (net)
752,000
Total assets
$
989,000
Current liabilities
$
156,000
Long-term liabilities
450,000
Total liabilities
606,000
Common stock and retained earnings
383,000
Total liabilities and stockholders’ equity
$
989,000
Required
Compute the following. (Round "Ratios" to 1 decimal
place.)
Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 14,550 7,900 12,800 11,200 167,500 (12,900) $ 201,050 8.690 3,000 4,300 21.360 113,700 50,000 $ 201,050 The average number of common stock shares outstanding during 2018 was 860 shares....
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 15,250 8,220 13,340 11,500 166,000 (12,600) $ 201,710 $ 8,660 3,120 4,150 21,600 113,500 50,680 $ 201, 710 The average number of common stock shares outstanding during 2018 was...
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