Homework Answers
| Solution-26 |
| b. 3.2 :1 is correct answer |
| Current Ratio= Current Asset/ Current Liability |
| 2020=80000/25000=3.2 Times |
| Solution-27 |
| Profit margin Ratio= Net Income/ Net Sales |
| =520000/1780000=29.21% |
| Let me know if any doubt Kindly mark with positive rating it would help me lot. Thanks in advance. |
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26) The following financial statement information is available for Dubai Corporation: 2020 2019 Inventory $ 44,000...
Use the following financial statement information available for Jones Corporation 2012 &nb
Use the following financial statement information available for Jones Corporation 2012 2011 Net sales $784,000 $697,000 Cost of goods sold 406,000 377,000 Net income 112,000 80,000 Tax expense 48,000 29,000 Interest expense 14,000 14,000 (a) The net profit margin ratio for Jones Corporation for 2012 is: (b) The net profit margin ratio for Jones Corporation for 2011 is: (c) The gross profit margin ratio for Jones Corporation for 2012 is:
West Tech. reports the following amounts for 2020: $ 5,660,000 1,000,000 145,000 350,000 23) Net income...
West Tech. reports the following amounts for 2020: $ 5,660,000 1,000,000 145,000 350,000 23) Net income Average stockholders' equity Preferred dividends Par value preferred stock The 2020 rate of return on common stockholders' equity is: a. 5.8%. b. 6.6% C. 8.4% d. 9.19%. 24) Pagal Corporation had beginning inventory $10,000, 000, cost of goods sold $11,750,000, and ending inventory $8,500,000. What was Pagal's inventory turnover? a. 1.3 times. b. 1.4 times. c. 1.5 times. d. 2 times. 25) In 2020...
The comparative statement of financial position of Riverbed Corporation as at December 31, 2020, follows: RIVERBED...
The comparative statement of financial position of Riverbed Corporation as at December 31, 2020, follows: RIVERBED CORPORATION Statement of Financial Position December 31 December 31 Assets Cash Accounts receivable 2019 } 3,600 87,300 2020 $ 52,000 91,000 27,500 (10,500) $ 160,000 22,900 (10,900) 102,900 $ Equipment Less: Accumulated depreciation Total Liabilities and Shareholders' Equity Accounts payable Common shares Retained earnings Total $ 20,000 100,000 40,000 $ 160,000 $ 10,000 75,800 17,100 $ 102,900 Net income of $36,300 was reported and...
The following financial information is available for Crane Corporation. (in millions) 2020 2019 Average common stockholders’...
The following financial information is available for Crane Corporation. (in millions) 2020 2019 Average common stockholders’ equity $2,566 $2,607 Dividends declared for common stockholders 292 623 Dividends declared for preferred stockholders 55 55 Net income 502 564 Calculate the payout ratio and return on common stockholders’ equity for 2020 and 2019.
Use the following financial statement information as of the end of each year to answer this...
Use the following financial statement information as of the end of each year to answer this question. 2017 2016 Inventory $54,000 $48,000 Current assets 81,000 106,000 392,000 336,000 Total assets Current liabilities 27,000 36,000 Total liabilities Stockholders' equity 102,000 88,000 290,000 248,000 784,000 697,000 306,000 277,000 Net sales Cost of goods sold Net income 34,000 90,000 Tax expense 22,000 18,000 Interest expense 12,000 12,000 Dividends paid to preferred stockholders 2,000 2,000 Dividends paid to common shareholders 1,000 1,000 Compute the...
Exercise 14-16 This financial information is available for Crane Corporation. 2020 Average common stockholders' equity Dividends...
Exercise 14-16 This financial information is available for Crane Corporation. 2020 Average common stockholders' equity Dividends paid to common stockholders Dividends paid to preferred stockholders Net income Market price of common stock $1,780,000 90,500 19,500 294,500 2019 $1,900,000 68,000 19,500 240,500 23 The weighted average number of shares of common stock outstanding was 175,500 for 2019 and 146,500 for 2020. Calculate earnings per share and return on common stockholders' equity for 2020 and 2019. (Round answers to 2 decimal places,...
Swifty Corp.'s statement of financial position at the end of 2019 included the following items: $1,193,500...
Swifty Corp.'s statement of financial position at the end of 2019 included the following items: $1,193,500 1,191,000 194,000 186,000 Current assets Land Buildings Equipment Accumulated depreciation-buildings Accumulated depreciation equipment Intangible assets-patents Total $1,255,000 Current liabilities 31,300 Bonds payable 1,270,000 Common shares 327,000 Retained earnings (148,000) (11,600) 40,800 $2,764,500 Total $2,764,500 The following information is available for the 2020 fiscal year: 1. Net income was $411,000. 2. Equipment (cost of $21,700 and accumulated depreciation of $8,100) was sold for $11,700. 3....
LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2019 and 2020 2020 2019 Gross...
LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2019 and 2020 2020 2019 Gross sales $15,000 $19,000 1,000 $18,000 12,000 $ 6,000 Sales returns and allowances 100 $14,900 9,000 Net sales Cost of merchandise (goods) sold Gross profit Operating expenses: Depreciation Selling and administrative $ 5,900 $ 2,200 550 360 700 600 2,000 Research Miscellaneous Total operating expenses Income before interest and taxes Interest expense Income before taxes Provision for taxes 500 300 $ 3,400 $ 2,500 $3,810...
The condensed financial statements of Murawski Company for the years 2019 and 2020 are presented follows....
The condensed financial statements of Murawski Company for the years 2019 and 2020 are presented follows. (Amounts in thousands MURAWSKI COMPANY Balance Sheets December 31 2020 2019 $ 352 $ 354 360 1.268 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity $2.203 $ 804 $ 912 360 1.070 1.041 $2.205 $2364...
Statement of financial position as at 30 June 2018 2020 ($) 2019 ($) Current Assets Cash...
Statement of financial position as at 30 June 2018 2020 ($) 2019 ($) Current Assets Cash and cash equivalents Trade Receivables Inventories Total current assets Non-current assets Total Assets 2,300 13,400 90,502 106,202 480,750 586,952 2,370 17,175 143,955 163,500 435,750 599,250 1,896 15,458 158,350 175,704 398,175 573,879 23.175 150,000 173,175 23,287 120,000 143,287 24,153 100,000 124,153 Current liabilities Long-term borrowings Total liabilities Equity Share Capital Retained Earnings Total Equity Total equity and liabilities 338,250 75,527 413,777 586,952 338,250 117,713 455,963...
West Tech. reports the following amounts for 2020: $ 5,660,000 1,000,000 145,000 350,000 23) Net income Average stockholders' equity Preferred dividends Par value preferred stock The 2020 rate of return on common stockholders' equity is: a. 5.8%. b. 6.6% C. 8.4% d. 9.19%. 24) Pagal Corporation had beginning inventory $10,000, 000, cost of goods sold $11,750,000, and ending inventory $8,500,000. What was Pagal's inventory turnover? a. 1.3 times. b. 1.4 times. c. 1.5 times. d. 2 times. 25) In 2020...
The comparative statement of financial position of Riverbed Corporation as at December 31, 2020, follows: RIVERBED CORPORATION Statement of Financial Position December 31 December 31 Assets Cash Accounts receivable 2019 } 3,600 87,300 2020 $ 52,000 91,000 27,500 (10,500) $ 160,000 22,900 (10,900) 102,900 $ Equipment Less: Accumulated depreciation Total Liabilities and Shareholders' Equity Accounts payable Common shares Retained earnings Total $ 20,000 100,000 40,000 $ 160,000 $ 10,000 75,800 17,100 $ 102,900 Net income of $36,300 was reported and...
Use the following financial statement information as of the end of each year to answer this question. 2017 2016 Inventory $54,000 $48,000 Current assets 81,000 106,000 392,000 336,000 Total assets Current liabilities 27,000 36,000 Total liabilities Stockholders' equity 102,000 88,000 290,000 248,000 784,000 697,000 306,000 277,000 Net sales Cost of goods sold Net income 34,000 90,000 Tax expense 22,000 18,000 Interest expense 12,000 12,000 Dividends paid to preferred stockholders 2,000 2,000 Dividends paid to common shareholders 1,000 1,000 Compute the...
Exercise 14-16 This financial information is available for Crane Corporation. 2020 Average common stockholders' equity Dividends paid to common stockholders Dividends paid to preferred stockholders Net income Market price of common stock $1,780,000 90,500 19,500 294,500 2019 $1,900,000 68,000 19,500 240,500 23 The weighted average number of shares of common stock outstanding was 175,500 for 2019 and 146,500 for 2020. Calculate earnings per share and return on common stockholders' equity for 2020 and 2019. (Round answers to 2 decimal places,...
Swifty Corp.'s statement of financial position at the end of 2019 included the following items: $1,193,500 1,191,000 194,000 186,000 Current assets Land Buildings Equipment Accumulated depreciation-buildings Accumulated depreciation equipment Intangible assets-patents Total $1,255,000 Current liabilities 31,300 Bonds payable 1,270,000 Common shares 327,000 Retained earnings (148,000) (11,600) 40,800 $2,764,500 Total $2,764,500 The following information is available for the 2020 fiscal year: 1. Net income was $411,000. 2. Equipment (cost of $21,700 and accumulated depreciation of $8,100) was sold for $11,700. 3....
LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2019 and 2020 2020 2019 Gross sales $15,000 $19,000 1,000 $18,000 12,000 $ 6,000 Sales returns and allowances 100 $14,900 9,000 Net sales Cost of merchandise (goods) sold Gross profit Operating expenses: Depreciation Selling and administrative $ 5,900 $ 2,200 550 360 700 600 2,000 Research Miscellaneous Total operating expenses Income before interest and taxes Interest expense Income before taxes Provision for taxes 500 300 $ 3,400 $ 2,500 $3,810...
The condensed financial statements of Murawski Company for the years 2019 and 2020 are presented follows. (Amounts in thousands MURAWSKI COMPANY Balance Sheets December 31 2020 2019 $ 352 $ 354 360 1.268 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity $2.203 $ 804 $ 912 360 1.070 1.041 $2.205 $2364...
Statement of financial position as at 30 June 2018 2020 ($) 2019 ($) Current Assets Cash and cash equivalents Trade Receivables Inventories Total current assets Non-current assets Total Assets 2,300 13,400 90,502 106,202 480,750 586,952 2,370 17,175 143,955 163,500 435,750 599,250 1,896 15,458 158,350 175,704 398,175 573,879 23.175 150,000 173,175 23,287 120,000 143,287 24,153 100,000 124,153 Current liabilities Long-term borrowings Total liabilities Equity Share Capital Retained Earnings Total Equity Total equity and liabilities 338,250 75,527 413,777 586,952 338,250 117,713 455,963...
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