Homework Answers
| Net sales | 1000000 |
| (-) Cost of goods sold | 600000 |
| Gross profit | 400000 |
| (-) Operating expenses | 200000 |
| Operating income | 200000 |
| Return on investment = Net earnings / Total assets = 60000 / 360000 | 16.67% |
| Debt ratio = Total liabilities / Total assets = 240000 / 360000 | 66.67% |
| Operating profit margin = Operating income / Net sales = 200000 / 1000000 | 20.00% |
| Total equity = Total assets - Total liabilities = 360000 - 240000 | 120000 |
| Return on equity = Net earnings / Total equity = 60000 / 120000 | 50.00% |
| Net profit margin = Net earnings / Net sales = 60000 / 1000000 | 6.00% |
| Note : The ratios are rounded off to 2 decimal places | |
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$1000,000 600,000 Question 4: (5 marks) The financial information of Westminster Company appears below: Net sales...
5. Selected operating data for two divisions of Ashley Company is given below: NORTH SOUTH Sales...
5. Selected operating data for two divisions of Ashley Company is given below: NORTH SOUTH Sales 720,000 600,000 Total Assets 360,000 200,000 Fixed Assets 140,000 150,000 Total Liabilities 120,000 140,000 Long-Term Liabilities 80,000 20,000 Net income 72,000 48,000 Calculate ROA, ROE, Profit Margin and Fixed Assets Turnover for both the North and South divisions.
5. Selected operating data for two divisions of Ashley Company are given below: NORTH soUTH Sales...
5. Selected operating data for two divisions of Ashley Company are given below: NORTH soUTH Sales Total Assets Fixed Assets Total Liabilities Long-Term Liabilities Net income 00,000 400,000 360,000 100,000 40,00060,000 20,000 40,000 80,000 20,000 8,000 60,o00 Calculate ROA, ROE, Profit Margin and Fixed Assets Turnover for both the North and South divisions.
7. The financial statements of Elcamino Company appear below: ELCAMINO COMPANY Comparative Balance Sheet December 31,...
7. The financial statements of Elcamino Company appear below: ELCAMINO COMPANY Comparative Balance Sheet December 31, Assets Cash Debt investments Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets $ 2017 $ 25,000 20.000 50,000 140,000 170,000 $405,000 2016 40,000 60,000 30.000 170,000 200,000 $500.000 Liabilities and stockholders equity Accounts payable Short-term notes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 25,000 40,000 75,000 160,000 105.000 S405,000 $ 30,000 90,000 160,000 145,000 75,000...
Question 3 The recent financial statements for the Royal Caribbean Company are given below: 2006 2005 Balance Sheet for...
Question 3 The recent financial statements for the Royal Caribbean Company are given below: 2006 2005 Balance Sheet for the period ending June 30 Assets Current assets Cash Accounts receivables Inventories Prepaid expenses Total current assets Property and equipment Total assets $21,000 $160,000 $300,000 $9,000 $490,000 $810,000 $1,300,000 $24,000 $162,000 $315,000 $10,000 $511,000 $700,000 $1,211,000 Liabilities and shareholders equity Liabilities Current liabilities 10% bonds payable Total liabilities $200,000 $300,000 $500,000 $290,000 $275,000 $565,000 Shareholders equity Common stock $5 per share...
C2-Selected information for Smith Company are presented below. (SK3, AR2: 10 marks) Cash Short-term investments Net...
C2-Selected information for Smith Company are presented below. (SK3, AR2: 10 marks) Cash Short-term investments Net receivables Inventories Total current liabilities December 31, 2019 100,000 50,000 250,000 200,000 250,000 December 31, 2018 $74,400 45,000 225,000 150,000 225,000 During 2019, net sales were $2,500,000, cost of goods sold was $2,000,000, and net income was $850,000. Required: Compute the following ratios for Smith Company at December 31, 2019: a. Current b. Acid-test. c. Accounts receivable turnover. d. Profit margin. e. Inventory turnover.
294 Chapter 5 The Mantle Inn commenced operation the Inn's financial condition. Bala Problem 21 un...
294 Chapter 5 The Mantle Inn commenced operation the Inn's financial condition. Bala Problem 21 un commenced operations on lanuary 1, 20X1. and has been operating for two years. Assume that you are the new assistant manager and denne desire to gain some insight into s nhancial condition, Balance sheets and condensed income statements for the first two years are as follows: Balance Sheets Mantle Inn December 31, 20X1 and 20x2 Assets 20X1 20X2 Current Assets: $ Cash 10,000 $...
Question 2 Mark out of 25 Financial data for Beaker Company for last year appears below Beaker Company Beaker Compa...
Question 2 Mark out of 25 Financial data for Beaker Company for last year appears below Beaker Company Beaker Company Statement of Financial Position Income Statement Beginning Ending Balance Balance Sales 414,000 Assets: 351,900 62,100 50,000 Cash 70,000 Less operating expenses Net operating income Accounts Receivable 20,000 25,000 Inventory Plant and Equipment 30,000 35,000 Less interest and taxes: 120,000 110,000 Investments 80,000 100,000 Interest expenses Тах еxpense 30,000 10,000 Land(undeveloped) 40,000 170,000 170,000 470,000 510,000 Operating Income 22,100 Total Assets...
Question CAR2: 8 Marks The financial statements of Star Corporation appear below: Star Corporation Comparative Balance...
Question CAR2: 8 Marks The financial statements of Star Corporation appear below: Star Corporation Comparative Balance Sheets December 31, 2018 - 19 Assets 2019 2018 Cash Short-term investments Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets S 50,000 50,000 100,000 150,000 650.000 $1.000.000 $ 100,000 150,000 75,000 175,000 750,000 $1.250,000 Liabilities and stockholders' equity Accounts payable Short-term notes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 50,000 100,000 200,000 375,000 275.000 $1.000.000...
Selected financial statement data for Homer Company are presented below. Net sales Cost of goods sold...
Selected financial statement data for Homer Company are presented below. Net sales Cost of goods sold Interest expense Net income Total assets (ending) Total common stockholders' equity (ending) $1,500,000 700,000 10,000 205,000 900,000 600,000 Total assets at the beginning of the year were $800,000; total common stockholders' equity was $500,000 at the beginning of the period. Calculate asset turnover. (Round answer to 2 decimal placea, e-8. 15.21%.) Asset turnover --/0.75 Question Part Score Compute the profit margin.(Round answer to 1...
The financial statements of Sol Company appear below: Sol COMPANY Comparative Statements of Financial Position December...
The financial statements of Sol Company appear below: Sol COMPANY Comparative Statements of Financial Position December 31, 2017 ———————————————————————————————————————— Assets 2017 2016 Property, plant and equipment (net).................................................. $260,000 $300,000 Inventory............................................................................................ 50,000 70,000 Accounts receivable (net).................................................................. 50,000 30,000 Short-term investments..................................................................... 15,000 60,000 Cash................................................................................................... 25,000 40,000 Total assets ................................................................................ $400,000 $500,000 Equity and liabilities Share capital – ordinary.................................................................... $150,000 $150,000 Retained earnings.............................................................................. 110,000 70,000 Bonds payable................................................................................... 80,000 160,000...
5. Selected operating data for two divisions of Ashley Company are given below: NORTH soUTH Sales Total Assets Fixed Assets Total Liabilities Long-Term Liabilities Net income 00,000 400,000 360,000 100,000 40,00060,000 20,000 40,000 80,000 20,000 8,000 60,o00 Calculate ROA, ROE, Profit Margin and Fixed Assets Turnover for both the North and South divisions.
7. The financial statements of Elcamino Company appear below: ELCAMINO COMPANY Comparative Balance Sheet December 31, Assets Cash Debt investments Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets $ 2017 $ 25,000 20.000 50,000 140,000 170,000 $405,000 2016 40,000 60,000 30.000 170,000 200,000 $500.000 Liabilities and stockholders equity Accounts payable Short-term notes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 25,000 40,000 75,000 160,000 105.000 S405,000 $ 30,000 90,000 160,000 145,000 75,000...
Question 3 The recent financial statements for the Royal Caribbean Company are given below: 2006 2005 Balance Sheet for the period ending June 30 Assets Current assets Cash Accounts receivables Inventories Prepaid expenses Total current assets Property and equipment Total assets $21,000 $160,000 $300,000 $9,000 $490,000 $810,000 $1,300,000 $24,000 $162,000 $315,000 $10,000 $511,000 $700,000 $1,211,000 Liabilities and shareholders equity Liabilities Current liabilities 10% bonds payable Total liabilities $200,000 $300,000 $500,000 $290,000 $275,000 $565,000 Shareholders equity Common stock $5 per share...
C2-Selected information for Smith Company are presented below. (SK3, AR2: 10 marks) Cash Short-term investments Net receivables Inventories Total current liabilities December 31, 2019 100,000 50,000 250,000 200,000 250,000 December 31, 2018 $74,400 45,000 225,000 150,000 225,000 During 2019, net sales were $2,500,000, cost of goods sold was $2,000,000, and net income was $850,000. Required: Compute the following ratios for Smith Company at December 31, 2019: a. Current b. Acid-test. c. Accounts receivable turnover. d. Profit margin. e. Inventory turnover.
294 Chapter 5 The Mantle Inn commenced operation the Inn's financial condition. Bala Problem 21 un commenced operations on lanuary 1, 20X1. and has been operating for two years. Assume that you are the new assistant manager and denne desire to gain some insight into s nhancial condition, Balance sheets and condensed income statements for the first two years are as follows: Balance Sheets Mantle Inn December 31, 20X1 and 20x2 Assets 20X1 20X2 Current Assets: $ Cash 10,000 $...
Question 2 Mark out of 25 Financial data for Beaker Company for last year appears below Beaker Company Beaker Company Statement of Financial Position Income Statement Beginning Ending Balance Balance Sales 414,000 Assets: 351,900 62,100 50,000 Cash 70,000 Less operating expenses Net operating income Accounts Receivable 20,000 25,000 Inventory Plant and Equipment 30,000 35,000 Less interest and taxes: 120,000 110,000 Investments 80,000 100,000 Interest expenses Тах еxpense 30,000 10,000 Land(undeveloped) 40,000 170,000 170,000 470,000 510,000 Operating Income 22,100 Total Assets...
Question CAR2: 8 Marks The financial statements of Star Corporation appear below: Star Corporation Comparative Balance Sheets December 31, 2018 - 19 Assets 2019 2018 Cash Short-term investments Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets S 50,000 50,000 100,000 150,000 650.000 $1.000.000 $ 100,000 150,000 75,000 175,000 750,000 $1.250,000 Liabilities and stockholders' equity Accounts payable Short-term notes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 50,000 100,000 200,000 375,000 275.000 $1.000.000...
Selected financial statement data for Homer Company are presented below. Net sales Cost of goods sold Interest expense Net income Total assets (ending) Total common stockholders' equity (ending) $1,500,000 700,000 10,000 205,000 900,000 600,000 Total assets at the beginning of the year were $800,000; total common stockholders' equity was $500,000 at the beginning of the period. Calculate asset turnover. (Round answer to 2 decimal placea, e-8. 15.21%.) Asset turnover --/0.75 Question Part Score Compute the profit margin.(Round answer to 1...
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