Homework Answers
a)Current ratio = Current ratio /current liabilities
= 235000 / 135000
= 1.74 Times or (1.74: 1)
b)Acid test ratio = [Current ratio -Inventory ] /current liabilities
=[235000 - 84000 ]/ 135000
= 151000 / 135000
= 1.12 times (or 1.12 : 1)
c)Receivable turnover = Net credit sales /Average accounts receivable
= 650000 / 83000
= 7.83 times
Working :Average accounts receivable =[beginning accounts receivable +ending value ]/2
=[ 92000 +74000 ]/2
= 83000
d)Average collection period = 365 /Receivable turnover
= 365 / 7.83
= 46.62 days (rounded to 47 days)
e)Profit margin =Net income /net sales
= 59000 /650000
= .0908 or 9.08%
f)Payout ratio = Dividend paid /Net income
= 36000 / 59000
= .6102 or 61.02%
g)Debt to total asset =Total liabilities/ total asset
= 265000/638000
= .4154 or 41.54%
Add Answer to:
1) Los siguientes son los estados financieros de Swanson Company Swanson Company Income Statement For the...
3 E 21 B AaBbCcDc AabbCd AaBbCe) AaBbcc Emphasis T Heading 1 T Heading 2 T...
3 E 21 B AaBbCcDc AabbCd AaBbCe) AaBbcc Emphasis T Heading 1 T Heading 2 T Heading 3 1 E Paragraph Styles 1 1 - - - 2 3 - 4 LOUIS ZIMMER COMPANY Comparative Balance Sheet December 31 2022 2021 Assets Current Assets Cash Accounts Receivable Merchandise Inventory Total Current Assets Property, Plant and Equipment Less Accumulated Depreciation Total Liabilities and Stockholder's Equity Current Liabilities Accounts Payable Income Tax Payable Total Current Liabilities Long Term Liabilities Bonds Payable $....
The following balance sheet (BS) and income statement (IS) are available for Little Bit Inc. Prepare...
The following balance sheet (BS) and income statement (IS) are
available for Little Bit Inc. Prepare a statement of cash flows
(CF) for 2018:
Balance Sheet Cash Accounts Receivable (net) Inventory Prepaid Expenses Total Current Assets Plant and Equipment Less accumulated depreciation Plant and Equipment (net) Long-Term Investments Total Assets Accounts Payable Accrued Liabilities Total Current Liabilities Long-Term Debt Deferred Taxes Total Liabilities Common Stock ($1 par) and additional paid-in Retained earnings Total Liabilities and Equity December 31, 2018 2017...
fill the table 2) El siguiente es el Comparative Balance Sheet de la compania Rupert Everet...
fill the table
2) El siguiente es el Comparative Balance Sheet de la compania Rupert Everet Rupert Everett Company Comparative Balance Sheet As of December 31, 2022 $ 63,000.00 Assets Cash 2021 Accounts Receivable $ 22,000.00 Inventory 85,000.00 76,000.00 Land 180,000.00 189,000.00 Equipment 75,000.00 100,000.00 Accumulated Depreciation 260,000.00 200,000.00 Total (66.000.00) 42000.00) Liabilities and Stockholder's Equity $597,000.00 $545,000.00 Accounts Payable $ 34,000.00 $ 47,000.00 Bonds Payable 150,000.00 200,000.00 Common Stock ($1.00 par value) 214,000.00 164,000.00 Retained Earnings 199,000.00 134,000,000 Total...
The following are financial statements of Sheridan Company. Sheridan Company Income Statement For the Year Ended...
The following are financial statements of Sheridan Company. Sheridan Company Income Statement For the Year Ended December 31, 2022 Net sales $2,210,500 Cost of goods sold 1,010,000 Selling and administrative expenses 900,000 Interest expense 81,000 Income tax expense 72,500 Net income $ 147,000 Sheridan Company Balance Sheet December 31, 2022 Assets Current assets Cash $ 64,700 Debt investments 90,000 Accounts receivable (net) 168,600 Inventory 242,200 Total current assets 565,500 Plant assets (net) 573,500 Total assets $ 1,139,000 Liabilities and Stockholders’...
Ivanhoe Company Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods...
Ivanhoe Company Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Selling and administrative expenses Interest expense Income tax expense Net income $2,221,500 1,020,000 903,500 75,000 72,000 $ 151,000 Ivanhoe Company Balance Sheet December 31, 2022 Assets Current assets Cash Debt investments Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 60,300 83,000 169,900 266,500 579,700 571,500 $ 1,151,200 $ 151,000 acy...
Crane Company Income Statement For the Year Ended December 31, 2022 Net sales $2,192,500 Cost of...
Crane Company Income Statement For the Year Ended December 31, 2022 Net sales $2,192,500 Cost of goods sold 1,010,500 Selling and administrative expenses 900,500 Interest expense 78,000 Income tax expense 62,500 Net income $ 141,000 Crane Company Balance Sheet December 31, 2022 Assets Current assets Cash $ 55,100 Debt investments 89,000 Accounts receivable (net) 168,400 Inventory 236,500 Total current assets 549,000 Plant assets (net) 572,500 Total assets $ 1,121,500 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $ 152,000 Income...
Current Attempt in Progress The following are financial statements of Crane Company. Crane Company Income Statement...
Current Attempt in Progress The following are financial statements of Crane Company. Crane Company Income Statement For the Year Ended December 31, 2022 Net sales $2,245,000 Cost of goods sold 1,010,000 Selling and administrative expenses 910,000 Interest expense 85,000 Income tax expense 72,000 Net income $ 168,000 146,350 Crane Company Balance Sheet December 31, 2022 Assets Current assets Cash $ 63,300 Debt investments 87,000 Accounts receivable (net) 169,100 Inventory Total current assets 465,750 Plant assets (net) 570,500 Total assets $...
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant....
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets Cash Accounts receivable Inventory Machinery (net) Franchise (net) Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for uncollectible accounts Notes payable Bonds payable Shareholders' equity Total liabilities and shareholders' equity $ 68,000 122,000 69,000 134,000 44,000 $ 437,000 $ 78,000 19,000 83,000 124,000 133,000 $...
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant....
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. $ 5.25 Joints LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets Cash Accounts receivable Inventory Machinery (net) Franchise (net) Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for uncollectible accounts Notes payable Bonds payable Shareholders' equity Total liabilities and shareholders' equity 74,000 131,000 72,089 137,000 47,809 461,000 8 02:40:32 $ $ 84,000 22,000...
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant....
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. $ LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets Cash Accounts receivable Inventory Machinery (net) Franchise (net) Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for uncollectible accounts Notes payable Bonds payable Shareholders' equity Total liabilities and shareholders' equity 48,000 92,000 59,000 124,000 34,000 357,000 $ $ 58,000 9,000 63,000 114,000 113,000 357,000...
3 E 21 B AaBbCcDc AabbCd AaBbCe) AaBbcc Emphasis T Heading 1 T Heading 2 T Heading 3 1 E Paragraph Styles 1 1 - - - 2 3 - 4 LOUIS ZIMMER COMPANY Comparative Balance Sheet December 31 2022 2021 Assets Current Assets Cash Accounts Receivable Merchandise Inventory Total Current Assets Property, Plant and Equipment Less Accumulated Depreciation Total Liabilities and Stockholder's Equity Current Liabilities Accounts Payable Income Tax Payable Total Current Liabilities Long Term Liabilities Bonds Payable $....
The following balance sheet (BS) and income statement (IS) are
available for Little Bit Inc. Prepare a statement of cash flows
(CF) for 2018:
Balance Sheet Cash Accounts Receivable (net) Inventory Prepaid Expenses Total Current Assets Plant and Equipment Less accumulated depreciation Plant and Equipment (net) Long-Term Investments Total Assets Accounts Payable Accrued Liabilities Total Current Liabilities Long-Term Debt Deferred Taxes Total Liabilities Common Stock ($1 par) and additional paid-in Retained earnings Total Liabilities and Equity December 31, 2018 2017...
fill the table
2) El siguiente es el Comparative Balance Sheet de la compania Rupert Everet Rupert Everett Company Comparative Balance Sheet As of December 31, 2022 $ 63,000.00 Assets Cash 2021 Accounts Receivable $ 22,000.00 Inventory 85,000.00 76,000.00 Land 180,000.00 189,000.00 Equipment 75,000.00 100,000.00 Accumulated Depreciation 260,000.00 200,000.00 Total (66.000.00) 42000.00) Liabilities and Stockholder's Equity $597,000.00 $545,000.00 Accounts Payable $ 34,000.00 $ 47,000.00 Bonds Payable 150,000.00 200,000.00 Common Stock ($1.00 par value) 214,000.00 164,000.00 Retained Earnings 199,000.00 134,000,000 Total...
Ivanhoe Company Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Selling and administrative expenses Interest expense Income tax expense Net income $2,221,500 1,020,000 903,500 75,000 72,000 $ 151,000 Ivanhoe Company Balance Sheet December 31, 2022 Assets Current assets Cash Debt investments Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 60,300 83,000 169,900 266,500 579,700 571,500 $ 1,151,200 $ 151,000 acy...
Current Attempt in Progress The following are financial statements of Crane Company. Crane Company Income Statement For the Year Ended December 31, 2022 Net sales $2,245,000 Cost of goods sold 1,010,000 Selling and administrative expenses 910,000 Interest expense 85,000 Income tax expense 72,000 Net income $ 168,000 146,350 Crane Company Balance Sheet December 31, 2022 Assets Current assets Cash $ 63,300 Debt investments 87,000 Accounts receivable (net) 169,100 Inventory Total current assets 465,750 Plant assets (net) 570,500 Total assets $...
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets Cash Accounts receivable Inventory Machinery (net) Franchise (net) Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for uncollectible accounts Notes payable Bonds payable Shareholders' equity Total liabilities and shareholders' equity $ 68,000 122,000 69,000 134,000 44,000 $ 437,000 $ 78,000 19,000 83,000 124,000 133,000 $...
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. $ 5.25 Joints LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets Cash Accounts receivable Inventory Machinery (net) Franchise (net) Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for uncollectible accounts Notes payable Bonds payable Shareholders' equity Total liabilities and shareholders' equity 74,000 131,000 72,089 137,000 47,809 461,000 8 02:40:32 $ $ 84,000 22,000...
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. $ LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets Cash Accounts receivable Inventory Machinery (net) Franchise (net) Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for uncollectible accounts Notes payable Bonds payable Shareholders' equity Total liabilities and shareholders' equity 48,000 92,000 59,000 124,000 34,000 357,000 $ $ 58,000 9,000 63,000 114,000 113,000 357,000...
Most questions answered within 3 hours.
-
Starting with benzene, synthesize 1-phenyl-1-butyne.
Show intermediates and reagents.
asked 11 minutes ago -
Create a 32-run crossed array design with six control factors
and two noise factors such that...
asked 1 hour ago -
A 500g sample of sand from source A has the following amounts
retained on each sieve....
asked 1 hour ago -
In
your own words, please explain the essay by John Keynes wrote "The
End of Laissez...
asked 1 hour ago -
How are the matrix and pixels related? Why are smaller
pixels better for diagnostic quality?
asked 1 hour ago -
2. An AC generator has 80 rectangular loops on
its armature. Each loop is 11 cm...
asked 1 hour ago -
Please help me with this question. Consider Aldi’s current and
potential geographic markets (see Exhibit 4...
asked 1 hour ago -
What are the main components of the fermentation process and
give an explanation of each? Include...
asked 1 hour ago -
Explain which types of cells in the body (belonging to which
organs, etc.) are sensitive to...
asked 1 hour ago -
A single cable supports an 703-kg elevator car. What is the
tension in the cable when...
asked 1 hour ago -
among the three different ways to link CSS specifications to an
HTML document (inline CSS, document...
asked 1 hour ago -
(1) Write the net ionic equation for the reaction that occurs
when equal volumes of 0.191...
asked 2 hours ago