ZuoTi.Pro
Question

The following financial statement data for years ending December 31 for Foodworks Company are shown below....

The following financial statement data for years ending December 31 for Foodworks Company are shown below. 2016 2015 Sales $838,500 $544,500 Total assets: Beginning of year 560,000 430,000 End of year 730,000 560,000 a. Determine the ratio of sales to assets for 2016 and 2015. Round your answers to one decimal place. 2016 2015 Ratio of sales to assets b. Does the change in the ratio of sales to assets from 2015 to 2016 indicate a favorable or an unfavorable trend?

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Calculate ratio of sales of assets

2016 2015
Sales 838500 544500
Average assets (560000+730000/2) = 645000 (430000+560000/2) = 495000
Ratio of sales to assets 838500/645000 = 1.3 544500/495000 = 1.10

Favorable trend

0 0
Add a comment
Know the answer?
Add Answer to:
The following financial statement data for years ending December 31 for Foodworks Company are shown below....
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Asset turnover Financial statement data for years ending December 31, 2019 and 2018, for Edison Company...

    Asset turnover Financial statement data for years ending December 31, 2019 and 2018, for Edison Company follow: 2019 2018 Sales $1,010,000 $819,000 Total assets: Beginning of year 440,000 340,000 End of year 570,000 440,000 a. Determine the asset turnover for 2019 and 2018. Round your answers to one decimal place. 2019 2018 Ratio of sales to assets b. Does the change in the asset turnover from 2018 to 2019 indicate a favorable or an unfavorable trend?

  • Financial statement data for years ending December 31 for Jardine Company are shown below. 2016 2015...

    Financial statement data for years ending December 31 for Jardine Company are shown below. 2016 2015 Net income $491,500 $421,500 Preferred dividends $75,000 $75,000 Average number of common shares outstanding 70,000 shares 55,000 shares a. Determine the earnings per share for 2016 and 2015. Round your answers to two decimal places. 2016 $ per share 2015 $ per share b. Does the change in the earnings per share from 2015 to 2016 indicate a favorable or an unfavorable trend?

  • Accounts Receivable Turnover and Number of Days' Sales in Receivables Financial statement data for years ending December...

    Accounts Receivable Turnover and Number of Days' Sales in Receivables Financial statement data for years ending December 31 for Blum Company are shown below. 2016 2015 Sales $5,794,740 $5,432,660 Accounts receivable:   Beginning of year 423,110 474,240   End of year 496,690 416,360 a. Determine the accounts receivable turnover for 2016 and 2015. Round your answers to one decimal place. Accounts Receivable Turnover 2016 2015 b. Determine the number of days' sales in receivables for 2016 and 2015. Use 365 days in...

  • Inventory Turnover and Days' Sales in Inventory The following financial statement data for years ending December...

    Inventory Turnover and Days' Sales in Inventory The following financial statement data for years ending December 31 for Holland Company are shown below. 20Y4 20Y3 Cost of merchandise sold $1,284,800 $784,385 Inventories: Beginning of year $263,530 $184,690 End of year 378,870 263,530 a. Determine the inventory turnover for 20Y4 and 20Y3. Round to one decimal place. Inventory Turnover 20Y4 20Y3 b. Determine the days' sales in inventory for 20Y4 and 20Y3. Assume 365 days a year. Round interim calculations and...

  • Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tan...

    Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: 2047 2046 Cost of goods sold $3,756,945 $3,965,725 Inventories: Beginning of year 759,200 737,300 End of year 839,500 759,200 Required a. Determine the inventory turnover for 20Y7 and 20Y6. Round to one decimal place. 2017 2016 Inventory turnover b. Determine the number of days' sales in inventory for 20Y7 and 20Y6. Use 365 days and round to one decimal...

  • Inventory turnover and number of days' sales in inventory Financial statement data for years ending December...

    Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: 2047 2046 Cost of goods sold $3,728,475 $4,004,780 Inventories: Beginning of year 788,400 751,900 End of year 868,700 788,400 Required a. Determine the inventory turnover for 2017 and 20Y6. Round to one decimal place. 2047 2046 Inventory turnover b. Determine the number of days' sales in inventory for 2017 and 20Y6. Use 365 days and round to one decimal...

  • 1) The following is financial statement data from Bug Company for years ended December 31: (5...

    1) The following is financial statement data from Bug Company for years ended December 31: (5 points) 2016 2017 Net Income $524,748 $618,184 Preferred Dividends $25,000 $25,000 Average number of common shares outstanding 70,000 80,000 Instructions: a) Calculate the earnings per share for 2016 and 2017. b) Was there a favorable or unfavorable trend for earnings per share from 2016 to 2017?

  • box answers Lailulelor Accounts receivable turnover and days' sales in receivables Financial statement data for years...

    box answers Lailulelor Accounts receivable turnover and days' sales in receivables Financial statement data for years ending December 31 for Chiro-Solutions Company follow: 2012 2011 Sales $2,912,000 $2,958,000 Accounts receivable: Beginning of year 300,000 280,000 End of year 340,000 300,000 a. Determine the accounts receivable turnover for 2012 and 2011. If required, round the final answers to one decimal place. Accounts Receivable Turnover 2012 2011 b. Determine the days' sales in receivables for 2012 and 2011. Use 365 days, if...

  • For the year ending December 31, 2020, Cobb Company accumulates the following data for the Plastics...

    For the year ending December 31, 2020, Cobb Company accumulates the following data for the Plastics Division which it operates as an investment center: contribution margin-$658,580 budget, $676,782 actual; controllable fixed costs- $301,100 budget, $305,400 actual. Average operating assets for the year were $1,986,000. Prepare a responsibility report for the Plastics Division beginning with contribution margin for the year ending December 31, 2020. (Round ROI to 1 decimal place, e.g. 1.5%.) COBB COMPANY Plastics Division Responsibility Report For the Year...

  • For the year ending December 31, 2020, Cobb Company accumulates the following data for the Plastics...

    For the year ending December 31, 2020, Cobb Company accumulates the following data for the Plastics Division which it operates as an investment center: contribution margin-$690,700 budget, $704,536 actual; controllable fixed costs-$298,900 budget, $304,900 actual. Average operating assets for the year were $1,959,000. Prepare a responsibility report for the Plastics Division beginning with contribution margin for the year ending December 31, 2020. (Round ROI to 1 decimal place, e.g. 1.5%.) COBB COMPANY Plastics Division Responsibility Report For the Year Ended...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT