Is BFI Trading Ltd.’s profit performance better or worse
than Lin Corp? Explain your reasoning.
Homework Answers
Profit performance of the BFI trading is worse than Lin Corp since profit ratio of BFI is 7.74% as compared to 9.95% of Lin Corp
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Is BFI Trading Ltd.’s profit performance better or worse
than Lin Corp? Explain your reasoning.
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1. Is BFI Trading Ltd.'s liquidity ratios better or worse than Lin Corp? Explain your reasoning. BFI Trading Ltd. Lin...
1. Is BFI Trading Ltd.'s liquidity ratios better or worse than Lin Corp? Explain your reasoning. BFI Trading Ltd. Lin Corp. Current ratio = 894,000.00 Current ratio = 1,002,000.00 748,000.00 800,000.00 = 1.2 = 1.25 Acid-test ratio = Acid-test ratio = 134,000 + 0 + 312,000 748,000 = 446,000 748,000 =0.60 110,000 + 24,000 + 392,000 800,000 = 526,000 800,000 =0.66 4 2. Is BFI Trading Ltd.'s efficiency ratios better or worse than Lin Corp? Explain your reasoning. BFI Trading...
Question 7 IMA Believer Corp’s balance sheet reported the following shareholders’ equity as of December 31,...
Question 7 IMA Believer Corp’s balance sheet reported the following shareholders’ equity as of December 31, 2016: Beginning of the Year End of the Year Current assets $62,000 $82,000 Current liabilities 25,000 55,000 Plant and equipment 300,000 350,000 Long-term liabilities 50,000 75,000 Common shareholders’ equity 125,000 225,000 Preferred shareholders’ equity 60,000 85,000 Share Capital: Preferred shares, $100 stated value; $5 cumulative, 10,000 shares authorized, 10,000 issued $1,000,000 Common shares 200,000 shares authorized, 50,000 shares issued 500,000 Total share capital $2,500,000...
Exercise 11.17 (East View Ltd) (g) Times interest earned ratio ST11.17 he comparative financial statements of...
Exercise 11.17 (East View Ltd)
(g) Times interest earned ratio ST11.17 he comparative financial statements of East View Ltd for the year ended 31 December are as follows East View Ltd Comparative income statement for the year ended 31 December 2016 2015 (RM) (RM) 260,000 300,000 Net sales (all credit sales) Less: Costs and expenses Cost of goods sold Selling and administration expenses Interest expenses 177,000 207,500 60,400 57,400 3,000 7,000 3,600 9,000 280,500 19,500 Income tax expenses Total costs...
Question 4 On June 30, 2016, the market interest rate is 7%. Starship Enterprises issues $500,000...
Question 4 On June 30, 2016, the market interest rate is 7%. Starship Enterprises issues $500,000 of 8%, 20-year bonds at 110.625. The bonds pay interest on June 30 and December 31. Starship amortizes bonds by the effective interest method. 1. Record issuance of the bonds on June 30, 2016, the payment of interest at December 31, 2016, and the semi-annual interest payment on June 30, 2017 IMA Beever Corp's balance sheet reported the following shareholders' equity a. of December...
Bridgeport Corp. reported the following amounts in the shareholders’ equity section of its December 31, 2019...
Bridgeport Corp. reported the following amounts in the shareholders’ equity section of its December 31, 2019 SFP: Preferred shares, $7 dividend (9,000 shares authorized, 2,000 shares issued) $206,000 Common shares (unlimited authorized, 29,000 issued) 696,000 Contributed surplus 81,700 Retained earnings 300,000 Accumulated other comprehensive income 67,000 Total $1,350,700 During 2020, the company had the following transactions that affect shareholders’ equity. 1. Paid the annual 2019 $7 per share dividend on preferred shares and a $3 per share dividend on common...
Ratios for Simmons IndustryBetter (B) or worse(W) Ratio Δverage Profit margin Return on assets Return on...
Ratios for Simmons IndustryBetter (B) or worse(W) Ratio Δverage Profit margin Return on assets Return on equity Receivables turnover Avg. collection period Inventory turnover Fixed asset turnover Total asset turnover Current ratio Quick ratio Debt to total assets Times interest earned Fixed charge coverage 17.5% 20.8% 35% 4.4x 68.0 days - 3.5x 2.4x -76x 1.28 .85 .45 12.0x 3.6x Given the balance sheet and income state for Simmons Maintenance ratios that are also shown for the industry average. For each...
this is the photo for the format he wants 2. Top of the World, Ltd, reported...
this is the photo for the format he wants
2. Top of the World, Ltd, reported the following summarized balance sheet at December 31, 2018: Assets: Current assets Property and equipment, net $40,400 89,000 Total assets $129.400 Liabilities: Liabilities $41,000 Stockholders' equity: Common stock, $0.02 par (100,000 shares issued and outstanding) 2,000 Preferred stock, So. Os par (10,000 shares issued and outstanding) 500 Additional paid in capital 68,500 Retained earnings 17,400 Total liabilities and equity $129.400 During 2019, Top of...
The comparative statements of Flint Interiors Ltd. are presented as follows: FLINT INTERIORS LTD. Income Statement...
The comparative statements of Flint Interiors Ltd. are presented as follows: FLINT INTERIORS LTD. Income Statement For the Year Ended December 31, 2021 Net sales $2,087,750 Cost of goods sold 1,155,000 Gross profit 932,750 Selling and administrative expenses 520,000 Income from operations 412,750 Other expenses and losses Interest expense 15,500 Income before income taxes 397,250 Income tax expense 104,275 Profit $292,975 2020 $1,810,500 1,012,500 798,000 484,000 314,000 12,000 302,000 84,000 $218,000 FLINT INTERIORS LTD. Balance Sheet December 31 2021 2020...
The ! parti Problem 13-8A At January 1, 2015, Computer Metals Processing Ltd.'s balance sheet reported...
The ! parti Problem 13-8A At January 1, 2015, Computer Metals Processing Ltd.'s balance sheet reported the foll At January 1, 2015, Computer Meta shareholders' equity: Ace Ret Recording the issuance of shares, allocating cash dividends calculating book value, preparing the liability and shareholders' equity sections of the balance sheet Со 2. Total shareholders' equity, $2,430,000 $ 200,00 Shareholders' Equity Contributed capital: Preferred shares, $1.25, cumulative (2 years in arrears), liquidation price of $20, 100,000 shares authorized, 30,000 shares issued...
2. Top of the World, Ltd. reported the following summarized balance sheet at December 31, 2018:...
2. Top of the World, Ltd. reported the following summarized balance sheet at December 31, 2018: Assets: Current assets Property and equipment, net $40,400 89,000 Total assets $129.400 Liabilities: Liabilities $41,000 Stockholders' equity: Common stock, $0.02 par (100,000 shares issued and outstanding) 2,000 Preferred stock. $0.05 par (10,000 shares issued and outstanding) 500 Additional paid-in capital 68,500 Retained earnings 17,400 Total liabilities and equity $129.400 During 2019, Top of the World, Ltd. completed these transactions that affected stockholders' equity March...
1. Is BFI Trading Ltd.'s liquidity ratios better or worse than Lin Corp? Explain your reasoning. BFI Trading Ltd. Lin Corp. Current ratio = 894,000.00 Current ratio = 1,002,000.00 748,000.00 800,000.00 = 1.2 = 1.25 Acid-test ratio = Acid-test ratio = 134,000 + 0 + 312,000 748,000 = 446,000 748,000 =0.60 110,000 + 24,000 + 392,000 800,000 = 526,000 800,000 =0.66 4 2. Is BFI Trading Ltd.'s efficiency ratios better or worse than Lin Corp? Explain your reasoning. BFI Trading...
Exercise 11.17 (East View Ltd)
(g) Times interest earned ratio ST11.17 he comparative financial statements of East View Ltd for the year ended 31 December are as follows East View Ltd Comparative income statement for the year ended 31 December 2016 2015 (RM) (RM) 260,000 300,000 Net sales (all credit sales) Less: Costs and expenses Cost of goods sold Selling and administration expenses Interest expenses 177,000 207,500 60,400 57,400 3,000 7,000 3,600 9,000 280,500 19,500 Income tax expenses Total costs...
Question 4 On June 30, 2016, the market interest rate is 7%. Starship Enterprises issues $500,000 of 8%, 20-year bonds at 110.625. The bonds pay interest on June 30 and December 31. Starship amortizes bonds by the effective interest method. 1. Record issuance of the bonds on June 30, 2016, the payment of interest at December 31, 2016, and the semi-annual interest payment on June 30, 2017 IMA Beever Corp's balance sheet reported the following shareholders' equity a. of December...
Ratios for Simmons IndustryBetter (B) or worse(W) Ratio Δverage Profit margin Return on assets Return on equity Receivables turnover Avg. collection period Inventory turnover Fixed asset turnover Total asset turnover Current ratio Quick ratio Debt to total assets Times interest earned Fixed charge coverage 17.5% 20.8% 35% 4.4x 68.0 days - 3.5x 2.4x -76x 1.28 .85 .45 12.0x 3.6x Given the balance sheet and income state for Simmons Maintenance ratios that are also shown for the industry average. For each...
this is the photo for the format he wants
2. Top of the World, Ltd, reported the following summarized balance sheet at December 31, 2018: Assets: Current assets Property and equipment, net $40,400 89,000 Total assets $129.400 Liabilities: Liabilities $41,000 Stockholders' equity: Common stock, $0.02 par (100,000 shares issued and outstanding) 2,000 Preferred stock, So. Os par (10,000 shares issued and outstanding) 500 Additional paid in capital 68,500 Retained earnings 17,400 Total liabilities and equity $129.400 During 2019, Top of...
The comparative statements of Flint Interiors Ltd. are presented as follows: FLINT INTERIORS LTD. Income Statement For the Year Ended December 31, 2021 Net sales $2,087,750 Cost of goods sold 1,155,000 Gross profit 932,750 Selling and administrative expenses 520,000 Income from operations 412,750 Other expenses and losses Interest expense 15,500 Income before income taxes 397,250 Income tax expense 104,275 Profit $292,975 2020 $1,810,500 1,012,500 798,000 484,000 314,000 12,000 302,000 84,000 $218,000 FLINT INTERIORS LTD. Balance Sheet December 31 2021 2020...
The ! parti Problem 13-8A At January 1, 2015, Computer Metals Processing Ltd.'s balance sheet reported the foll At January 1, 2015, Computer Meta shareholders' equity: Ace Ret Recording the issuance of shares, allocating cash dividends calculating book value, preparing the liability and shareholders' equity sections of the balance sheet Со 2. Total shareholders' equity, $2,430,000 $ 200,00 Shareholders' Equity Contributed capital: Preferred shares, $1.25, cumulative (2 years in arrears), liquidation price of $20, 100,000 shares authorized, 30,000 shares issued...
2. Top of the World, Ltd. reported the following summarized balance sheet at December 31, 2018: Assets: Current assets Property and equipment, net $40,400 89,000 Total assets $129.400 Liabilities: Liabilities $41,000 Stockholders' equity: Common stock, $0.02 par (100,000 shares issued and outstanding) 2,000 Preferred stock. $0.05 par (10,000 shares issued and outstanding) 500 Additional paid-in capital 68,500 Retained earnings 17,400 Total liabilities and equity $129.400 During 2019, Top of the World, Ltd. completed these transactions that affected stockholders' equity March...
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