Homework Answers
Add Answer to:
12/31/2011 $32,000 Accounts receivable Accounts payable 47,000 Sales 218,800 12/31/2010 $ 39,000 36,000 128,000 2,300 16,000...
Ratio Analysis The following information was taken from Logsden Manufacturing's trial balances as of December 31,...
Ratio Analysis The following information was taken from Logsden Manufacturing's trial balances as of December 31, 2010, and December 31, 2011 Accounts receivable Accounts payable Cost of Goods Sold Sales 12/31/2011 12/31/2010 $ 13,000 $ 17,000 22,000 15,000 140,000 119,000 274,000 239,000 12,000 11,000 47.000 16,000 5,000 1,000 26,100 16,000 Sales returns Retained earnings Dividends Income from operations Net income 21,000 18,000 1. Calculate the gross profit margin and operating margin percentage for 2011. Round your answers to two decimal...
2020 FLINT CORPORATION Balance Sheets December 31 2022 2021 Cash $ 32,000 $ 22,000 Accounts receivable...
2020 FLINT CORPORATION Balance Sheets December 31 2022 2021 Cash $ 32,000 $ 22,000 Accounts receivable (net) 52,000 47,000 Other current assets 93,000 98,000 Investments 58,000 73,000 Plant and equipment (net) 500,000 370,000 $735,000 $610,000 Current liabilities $ 87,000 $ 82,000 Long-term debt 148,000 88,000 Common stock, $10 par 323,000 313,000 Retained earnings 177,000 127,000 $735,000 $610,000 $ 20,000 50,000 67,000 48,000 358,000 $543,000 $ 72,000 53,000 303,000 115,000 $543,000 FLINT CORPORATION Income Statements For the Years Ended December 31...
Accounts Receivable and Inventory Ratios Ritter Company, whose current assets at December 31 are shown below,...
Accounts Receivable and Inventory Ratios Ritter Company, whose current assets at December 31 are shown below, had net sales for the year of $850,000 and cost of goods sold of $550,000. At the beginning of the year, Ritter’s accounts receivable (net) were $160,000 and its inventory was $175,000. Cash $32,000 Short-term investments 49,300 Accounts receivable (net) 170,000 Inventory 200,000 Prepaid expenses 11,600 Current assets $462,900 Instructions: Round turnover ratios to two decimal places. Use rounded turnover ratios to compute respective...
Balance sheet at December 31 2011 2010 Cash Accounts receivable Merchandise inventory Property and equipment $84,000...
Balance sheet at December 31 2011 2010 Cash Accounts receivable Merchandise inventory Property and equipment $84,000 $69,000 68,000 21,000 121,000 100,000 55,000 31,000 Less: Accumulated depreciation (60,000) (45,000) $231,000 $213,000 $15,000 $37,000 11,000 95,000 45,000 25,000 Accounts payable Wages payable Note payable, long-term Contributed capital Retained earnings 1,000 100,000 50,000 65,000 FROM FI $231,000 $213,000 There were no sales of equipment during 2011. Net income for 2011 was $55,000. There were dividends declared and paid during the year. There were...
Accounts Receivable and Inventory Ratios Ritter Company, whose current assets at December 31 are shown below,...
Accounts Receivable and Inventory Ratios Ritter Company, whose current assets at December 31 are shown below, had net sales for the year of $850,000 and cost of goods sold of $550,000. At the beginning of the year, Ritter's acccounts receivable (net) were $160,000 and its inventory was $175,000 Cash $32,000 Short-term investments 49,300 Accounts receivable (net) 170,000 Inventory 200,000 Prepaid expenses 11,600 $462,900 Current assets Instructions: Round turnover ratios to two decimal places. Use rounded turnover ratios to compute respective...
Balance Balance Assets Cash $ 128,000 $ 138,000 Accounts receivable 340,000 489,000 Inventory 561,000 473,000 Plant...
Balance Balance Assets Cash $ 128,000 $ 138,000 Accounts receivable 340,000 489,000 Inventory 561,000 473,000 Plant and equipment, net 861,000 831,000 Investment in Buisson, S.A. 397,000 432,000 Land (undeveloped) 249,000 249,000 Total assets $2,535,000 $2,611,000 Liabilities and Stockholders' Equity Accounts payable $ 374,000 $ 334,000 Long-term debt 971, 000 971,000 Stockholders' equity 1,190,000 1,306,000 Total liabilities and stockholders' $2.535,000 $2,611,000 equity Joel de Paris, Inc. Income Statement Sales $4,202,000 Operating 3,487,660 expenses Net operating 714,340 income Interest and taxes: Interest...
Required Compute the accounts receivable turnover for 2018. Compute the inventory turnover for 2018. Compute the...
Required
Compute the accounts receivable turnover for 2018.
Compute the inventory turnover for 2018.
Compute the net margin for 2017.
Selected data from Rooney Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market 2018 $407,000 (20,350) $386,650 $478,000 2017 $375,000 (15,000) $360,000 $445,000 Income Statement For the Years Ended December 31 2018 Net credit sales $2,018,000 Net cash sales 410,000 Net sales 2,428,000 Cost of goods...
RIVERBED CORPORATION Balance Sheets December 31 2022 2021 Cash $ 33,000 $23,000 Accounts receivable (net) 53,000...
RIVERBED CORPORATION Balance Sheets December 31 2022 2021 Cash $ 33,000 $23,000 Accounts receivable (net) 53,000 48,000 Other current assets 95,000 100,000 Investments 60,000 75,000 Plant and equipment (net) - 500,000 370,000 $741,000 $616,000 Current liabilities $ 88,000 $ 83,000 Long-term debt 150,000 90,000 Common stock, $10 par 325,000 315,000 Retained earnings 178,000 128,000 $741,000 $616,000 2020 $ 21,000 51,000 69,000 50,000 358,000 $549,000 $ 73,000 55,000 305,000 116,000 $549,000 RIVERBED CORPORATION Income Statements For the Years Ended December 31...
Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings December...
Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings December 31, 2017 $ 34,000 77,000 210,000 54,000 29,000 417,000 106,000 December 31, 2016 $ 16,500 122,500 183,000 92,500 65,000 417,000 102,500 Additional information: 1. The inventory turnover is 2.2 times. 2. The return on common stockholders' equity is 25%. The company had no additional paid-in capital. 3. The accounts receivable turnover is 8.1 times. 4. The return on assets is 12.5%. 5. Total assets...
Financial statements for Boston Corporation are presented below. Use for 17-29 Boston Corporation Comparative Balance Sheet...
Financial statements for Boston Corporation are presented below. Use for 17-29 Boston Corporation Comparative Balance Sheet December 31 Assets 2011 2010 Cash $ 120,000 $ 110,000 Accounts receivable (net) 135,000 95,000 Inventory 270,000 240,000 Property, plant, and equipment (net) 750,000 800,000 Total assets $1,275,000 $1,245,000 Liabilities and Stockholders' Equity Accounts payable $ 172,000 $ 208,000 Accrued liabilities 12,000 16,000 Bonds payable, 10 percent 140,000 160,000 Common stock, $10 par (10,000 shares) 500,000 500,000 Retained earnings ...
Ratio Analysis The following information was taken from Logsden Manufacturing's trial balances as of December 31, 2010, and December 31, 2011 Accounts receivable Accounts payable Cost of Goods Sold Sales 12/31/2011 12/31/2010 $ 13,000 $ 17,000 22,000 15,000 140,000 119,000 274,000 239,000 12,000 11,000 47.000 16,000 5,000 1,000 26,100 16,000 Sales returns Retained earnings Dividends Income from operations Net income 21,000 18,000 1. Calculate the gross profit margin and operating margin percentage for 2011. Round your answers to two decimal...
2020 FLINT CORPORATION Balance Sheets December 31 2022 2021 Cash $ 32,000 $ 22,000 Accounts receivable (net) 52,000 47,000 Other current assets 93,000 98,000 Investments 58,000 73,000 Plant and equipment (net) 500,000 370,000 $735,000 $610,000 Current liabilities $ 87,000 $ 82,000 Long-term debt 148,000 88,000 Common stock, $10 par 323,000 313,000 Retained earnings 177,000 127,000 $735,000 $610,000 $ 20,000 50,000 67,000 48,000 358,000 $543,000 $ 72,000 53,000 303,000 115,000 $543,000 FLINT CORPORATION Income Statements For the Years Ended December 31...
Balance sheet at December 31 2011 2010 Cash Accounts receivable Merchandise inventory Property and equipment $84,000 $69,000 68,000 21,000 121,000 100,000 55,000 31,000 Less: Accumulated depreciation (60,000) (45,000) $231,000 $213,000 $15,000 $37,000 11,000 95,000 45,000 25,000 Accounts payable Wages payable Note payable, long-term Contributed capital Retained earnings 1,000 100,000 50,000 65,000 FROM FI $231,000 $213,000 There were no sales of equipment during 2011. Net income for 2011 was $55,000. There were dividends declared and paid during the year. There were...
Accounts Receivable and Inventory Ratios Ritter Company, whose current assets at December 31 are shown below, had net sales for the year of $850,000 and cost of goods sold of $550,000. At the beginning of the year, Ritter's acccounts receivable (net) were $160,000 and its inventory was $175,000 Cash $32,000 Short-term investments 49,300 Accounts receivable (net) 170,000 Inventory 200,000 Prepaid expenses 11,600 $462,900 Current assets Instructions: Round turnover ratios to two decimal places. Use rounded turnover ratios to compute respective...
Balance Balance Assets Cash $ 128,000 $ 138,000 Accounts receivable 340,000 489,000 Inventory 561,000 473,000 Plant and equipment, net 861,000 831,000 Investment in Buisson, S.A. 397,000 432,000 Land (undeveloped) 249,000 249,000 Total assets $2,535,000 $2,611,000 Liabilities and Stockholders' Equity Accounts payable $ 374,000 $ 334,000 Long-term debt 971, 000 971,000 Stockholders' equity 1,190,000 1,306,000 Total liabilities and stockholders' $2.535,000 $2,611,000 equity Joel de Paris, Inc. Income Statement Sales $4,202,000 Operating 3,487,660 expenses Net operating 714,340 income Interest and taxes: Interest...
Required
Compute the accounts receivable turnover for 2018.
Compute the inventory turnover for 2018.
Compute the net margin for 2017.
Selected data from Rooney Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market 2018 $407,000 (20,350) $386,650 $478,000 2017 $375,000 (15,000) $360,000 $445,000 Income Statement For the Years Ended December 31 2018 Net credit sales $2,018,000 Net cash sales 410,000 Net sales 2,428,000 Cost of goods...
RIVERBED CORPORATION Balance Sheets December 31 2022 2021 Cash $ 33,000 $23,000 Accounts receivable (net) 53,000 48,000 Other current assets 95,000 100,000 Investments 60,000 75,000 Plant and equipment (net) - 500,000 370,000 $741,000 $616,000 Current liabilities $ 88,000 $ 83,000 Long-term debt 150,000 90,000 Common stock, $10 par 325,000 315,000 Retained earnings 178,000 128,000 $741,000 $616,000 2020 $ 21,000 51,000 69,000 50,000 358,000 $549,000 $ 73,000 55,000 305,000 116,000 $549,000 RIVERBED CORPORATION Income Statements For the Years Ended December 31...
Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings December 31, 2017 $ 34,000 77,000 210,000 54,000 29,000 417,000 106,000 December 31, 2016 $ 16,500 122,500 183,000 92,500 65,000 417,000 102,500 Additional information: 1. The inventory turnover is 2.2 times. 2. The return on common stockholders' equity is 25%. The company had no additional paid-in capital. 3. The accounts receivable turnover is 8.1 times. 4. The return on assets is 12.5%. 5. Total assets...
Most questions answered within 3 hours.
-
If X ~ N(50; 100); Determine the value of '' k '' for both
situation:
a)...
asked 17 minutes ago -
In paired t-test, what's the difference between using pooled
variance and using the standard deviation of...
asked 18 minutes ago -
What are the major ethical theories, and how do they apply to
the role of a...
asked 18 minutes ago -
''Driving the call for multilateralism in trade at the summit
was Chinese President Xi Jinping, whose...
asked 12 minutes ago -
Present one method for changing health behavior that you think is
particularly effective.
Describe how one...
asked 20 minutes ago -
Is Goldicks negligent conduct committed within the
scope of his employment for Lapp Roofing liable
asked 33 minutes ago -
What are the effects of IMC-based PID controller and
Zeigler-Nicholas parameters on the specifications of a...
asked 38 minutes ago -
1. Explain the tem (10) Key Success Factors in Contemporary
Selling
asked 51 minutes ago -
It's absolutely linked, the effectiveness of the CP Coordinator
and the success of the business impact...
asked 1 hour ago -
where does leadership reside in belief theory
asked 1 hour ago -
Jane wants to purchase a bond with a face value of $8,595 and a
bond rate...
asked 1 hour ago -
A bolt manufacturer wants to investigate the machine that
produces bolts with a diameter of 0.28...
asked 1 hour ago