Homework Answers
Debt to assets=Total debt/Total assets
Hence Total debt=(0.6*$325000)
which is equal to
=$195,000.
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The following information relates to Superb Performances, Inc. Assume that all et sales are on credit...
1:17:31 21 QUIZ NAVIGATION n The following information relates to Superb Performances, Inc. Assume that all...
1:17:31 21 QUIZ NAVIGATION n The following information relates to Superb Performances, Inc. Assume that all sales are on credit and a 360-day year. Answers should be rounded to the nearest dollar. ed out of 1 9 10 11 12 13 14l Debt-to-Assets-60% Total Asset Turnover 5 Fixed Asset Turnover 8 Total Assets $325,000 Net Income $26,000 17 1819 20 2122 23 on 25 26 27 28 29 30 31 33 34 36 36 37 38 39 41 42 43...
The following information is from Harrelson Inc.'s, financial statements. Sales (all credit) were $21.60 million for...
The following information is from Harrelson Inc.'s, financial statements. Sales (all credit) were $21.60 million for last year. Sales to total assets 1.80 times Total debt to total assets 40 % Current ratio 3.00 times Inventory turnover 4 times Average collection period 25 days Fixed asset turnover 5 times Complete the balance sheet: (Use a 360-day year. Do not round intermediate calculations. Input your answers in millions rounded to 2 decimal places.) $ in millions $ in millions Cash Current...
The following information is from Harrelson Inc.'s, financial statements. Sales (all credit) were $18.00 million for...
The following information is from Harrelson Inc.'s, financial statements. Sales (all credit) were $18.00 million for last year. Sales to total assets Total debt to total assets Current ratio Inventory turnover Average collection period Fixed asset turnover 1.50 times 45% 2.90 times 6 times 19 days 5 times Complete the balance sheet: (Use a 360-day year. Do not round intermediate calculations. Input your answers in millions rounded to 2 decimal places.) $ in millions $ in millions Current debt 0.90...
The following information is from Pramacy Inc.’s financial statements: Sales (all credit) $245,000 Total assets turnover...
The following information is from Pramacy Inc.’s financial statements: Sales (all credit) $245,000 Total assets turnover 0.80 times Total debt to total assets 30.83% Fixed asset turnover 1.1 times Current ratio 4.04 times Average collection period 29.68 days Inventory turnover 7.42 times Part A Using the above listed ratios and data, compute the balance of the following accounts. Assume all sales are on credit and a 360-day year. Round to the nearest dollar. [Hint: use ratio formulas to derive the...
The following information is from Boston Pharmaceutical Inc.'s financial statements: $30,500,000 Sales (all cr...
The following information is from Boston Pharmaceutical Inc.'s financial statements: $30,500,000 Sales (all credit) 2.5 times Total assets turnover 40% Total debt to total assets 6.00 times Fixed asset turnover 2.6 times Current ratio Average collection period 30 days 12 times Inventory turnover Part A Using the above listed ratios and data, compute the balance of the following accounts. Assume all sa are on credit and a 360-day year. Round to the nearest dollar. [Hint: use ratio formulas to derive...
Problem 3-35 Using ratios to construct financial statements [LO3-2] The following information is from Harrelson Inc.'s,...
Problem 3-35 Using ratios to construct financial statements [LO3-2] The following information is from Harrelson Inc.'s, financial statements. Sales (all credit) were $18.00 million for last year. Sales to total assets 1.20 times Total debt to total assets 45 % Current ratio 2.80 times Inventory turnover 6 times Average collection period 24 days Fixed asset turnover 5 times Complete the balance sheet: (Use a 360-day year. Do not round intermediate calculations. Input your answers in millions rounded to 2...
Problem 3-35 Using ratios to construct financial statements [LO3-2] The following information is from Harrelson Inc.'s,...
Problem 3-35 Using ratios to construct financial statements [LO3-2] The following information is from Harrelson Inc.'s, financial statements. Sales (all credit) were $30.60 million for last year Sales to total assets Total debt to total assets Current ratio Inventory turnover Average collection period Fixed asset turnover 1.80 times 40 % 2.40 times 6 times 19 days 5 times Complete the balance sheet: (Use a 360-day year. Do not round intermediate calculations. Input your answers in millions rounded to 2 decimal...
The following selected information relates to Klemmer Inc. for the year ended December 31, 20x3: Sales...
The following selected information relates to Klemmer Inc. for the year ended December 31, 20x3: Sales Interest expense Net income before taxes Net income Total Assets - January 1, 20x3 Total Assets - December 31, 20x3 Total Shareholders' Equity - January 1, 20x3 Total Shareholders' Equity - December 31, 20x3 $1280869 43000 258066 223658 2317518 2757488 1266473 1344201 What is the asset turnover for 20x3? Select one: a. 0.553 O b. 0.505 c. 0.465 d. 0.981 Check
Computing Asset Ratios The following information relates to Nicke Inc. Total Fixed Total Net $ millions...
Computing Asset Ratios The following information relates to Nicke Inc. Total Fixed Total Net $ millions Assets Assets Revenue Income Fiscal Year 2016 $3,168 $19,256 $29,138 $3,384 Fiscal Year 2015 2,981 21,381 27,541 2,946 Fiscal Year 2014 2,551 16,735 Nicke's fiscal years 2016, 2015, and 2014, end on May 31, 2016, 2015, and 2014, respectively. Required a. Compute the asset turnover ratio for fiscal years 2016 and 2015. b. Compute the return on assets ratio for fiscal years 2016 and...
Computing Asset Ratios The following information relates to Nicke Inc. Total Fixed Total Net $ millions...
Computing Asset Ratios The following information relates to Nicke Inc. Total Fixed Total Net $ millions Assets Assets Revenue Income Fiscal Year 2016 $4,224 $25,675 $38,851 $4,512 Fiscal Year 2015 3,613 25,916 36,721 3,928 Fiscal Year 2014 3,401 22,313 Nicke's fiscal years 2016, 2015, and 2014, end on May 31, 2016, 2015, and 2014, respectively. Required a. Compute the asset turnover ratio for fiscal years 2016 and 2015. b. Compute the return on assets ratio for fiscal years 2016 and...
1:17:31 21 QUIZ NAVIGATION n The following information relates to Superb Performances, Inc. Assume that all sales are on credit and a 360-day year. Answers should be rounded to the nearest dollar. ed out of 1 9 10 11 12 13 14l Debt-to-Assets-60% Total Asset Turnover 5 Fixed Asset Turnover 8 Total Assets $325,000 Net Income $26,000 17 1819 20 2122 23 on 25 26 27 28 29 30 31 33 34 36 36 37 38 39 41 42 43...
The following information is from Harrelson Inc.'s, financial statements. Sales (all credit) were $18.00 million for last year. Sales to total assets Total debt to total assets Current ratio Inventory turnover Average collection period Fixed asset turnover 1.50 times 45% 2.90 times 6 times 19 days 5 times Complete the balance sheet: (Use a 360-day year. Do not round intermediate calculations. Input your answers in millions rounded to 2 decimal places.) $ in millions $ in millions Current debt 0.90...
The following information is from Boston Pharmaceutical Inc.'s financial statements: $30,500,000 Sales (all credit) 2.5 times Total assets turnover 40% Total debt to total assets 6.00 times Fixed asset turnover 2.6 times Current ratio Average collection period 30 days 12 times Inventory turnover Part A Using the above listed ratios and data, compute the balance of the following accounts. Assume all sa are on credit and a 360-day year. Round to the nearest dollar. [Hint: use ratio formulas to derive...
Problem 3-35 Using ratios to construct financial statements [LO3-2] The following information is from Harrelson Inc.'s, financial statements. Sales (all credit) were $30.60 million for last year Sales to total assets Total debt to total assets Current ratio Inventory turnover Average collection period Fixed asset turnover 1.80 times 40 % 2.40 times 6 times 19 days 5 times Complete the balance sheet: (Use a 360-day year. Do not round intermediate calculations. Input your answers in millions rounded to 2 decimal...
The following selected information relates to Klemmer Inc. for the year ended December 31, 20x3: Sales Interest expense Net income before taxes Net income Total Assets - January 1, 20x3 Total Assets - December 31, 20x3 Total Shareholders' Equity - January 1, 20x3 Total Shareholders' Equity - December 31, 20x3 $1280869 43000 258066 223658 2317518 2757488 1266473 1344201 What is the asset turnover for 20x3? Select one: a. 0.553 O b. 0.505 c. 0.465 d. 0.981 Check
Computing Asset Ratios The following information relates to Nicke Inc. Total Fixed Total Net $ millions Assets Assets Revenue Income Fiscal Year 2016 $3,168 $19,256 $29,138 $3,384 Fiscal Year 2015 2,981 21,381 27,541 2,946 Fiscal Year 2014 2,551 16,735 Nicke's fiscal years 2016, 2015, and 2014, end on May 31, 2016, 2015, and 2014, respectively. Required a. Compute the asset turnover ratio for fiscal years 2016 and 2015. b. Compute the return on assets ratio for fiscal years 2016 and...
Computing Asset Ratios The following information relates to Nicke Inc. Total Fixed Total Net $ millions Assets Assets Revenue Income Fiscal Year 2016 $4,224 $25,675 $38,851 $4,512 Fiscal Year 2015 3,613 25,916 36,721 3,928 Fiscal Year 2014 3,401 22,313 Nicke's fiscal years 2016, 2015, and 2014, end on May 31, 2016, 2015, and 2014, respectively. Required a. Compute the asset turnover ratio for fiscal years 2016 and 2015. b. Compute the return on assets ratio for fiscal years 2016 and...
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