Homework Answers
3a.
| 20x1 | 20x2 | 20x3 | 20x4 | 20x5 | |
| Revenue | 49300 | 65200 | 110000 | 125600 | 120000 |
| Trend | 100.00% | 132.25% | 223.12% | 254.77% | 243.41% |
Trend has been calculated using 20x1 as a base year
for 3b. data is not provided
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3a) Fantastic Floss Revenue for the past 5 years is listed below: Year Revenue Trend 20X120x2...
Review the Watson case using the following financial ratios in a trend analysis. Note that year...
Review the Watson case using the following financial ratios in a
trend analysis. Note that year 199x =1997, y=1998, and z = 1999.
While sales growth is strong, this firm has some issues. Can you
identify them? Recommend solutions?
1993 1994 1992 Growth in Sales Industry Watson 9.98% 20.00% 10.02% 20.00% Growth in EPS Industry Watson 9.7% 7.7% 9.8% 3.2% Industry 12 Profitability Profit Margin 13 Ratios Net Income/Sales 5.75% 6.26% 5.80% 5.63% Watson 5.81% 5.56% Return on Assets (ROA)...
The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue...
The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,300,300 and cost of goods sold was $8,915,195. All of Pelican's sales are made on account and are due within 30 days. Current Year Prior Year Cash and cash equivalents 639,780 572,330 Accounts receivable 4,750,000 3,820,000 940,360 1,283,440 8,180,100 11,000,000 6,176,000 8,280,700 Inventory Total current assets 8,200,030 11,120,020 7,900,300 8,469,900 Total assets Total current liabilities Total liabilities Calculate the...
The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue...
The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,300,300 and cost of goods sold was $8,915.195. All of Pelican's sales are made on account and are due within 30 days. 639,780 4,750,000 3.820,000 940,3601,283,440 8.200,030 8,180.100 11.120,020 11,000,000 7.900,3006.176,000 8.469,9008,280,700 Cash and cash equivalents Accounts receivable $ 572,330$ Inventory Total current assets Total assets Total current liabilities Total liabilities Calculate the following: a. Current ratios as of...
2020 Question #3 Springhill Corporation Balance Sheet December 31, 2021, and December 31", 2020 (in thousands)...
2020 Question #3 Springhill Corporation Balance Sheet December 31, 2021, and December 31", 2020 (in thousands) 2021 Assets Current Assets: Cash $90,000 Accounts Receivable 60,000 Inventory 18,000 Prepaid Expenses 2,000 Total Current Assets 170,000 Capital Assets (PP&E) 50,000 Total Assets $220,000 $57,000 40,000 10,000 1,000 108,000 30,000 $138,000 Liabilities: Accounts Payable Accrued Liabilities Income Taxes Payable Total Current Liabilities Long Term Debt Total liabilities $11,000 6,000 5,000 22,000 40,000 362,000 $4,000 3,000 8,000 15,000 8,000 S23,000 Shareholders' Equity Common Shares...
Marilyn Terrill is the senior auditor for the audit of Uden Supply Company for the year...
Marilyn Terrill is the senior auditor for the audit of Uden Supply Company for the year ended December 31, 20X4. In planning the audit, Marilyn is attempting to develop expectations for planning analytical procedures based on the financial information for prior years and her knowledge of the business and the industry, including these: 1. Based on economic conditions, she believes that the increase in sales for the current year should approximate the historical trend. 2. Based on her knowledge of...
5. Calculate the 2015 financial ratios for Phocbe Corporation rounded to the nearest tenth and put...
5. Calculate the 2015 financial ratios for Phocbe Corporation rounded to the nearest tenth and put a checkmark in tbe row in which Phorbe's ratios are better than the industry average: Ratio Gross Profit Margin Net Profit Margin Current Ratio Inventory Turnover Receivables Turnover Phoebe Corporation (2015) Industry Averages Phocbe is Better 55.0% 27.5% 3.3 % % 15.5 8.5 Select Financial Ratios What It Measures Eficiency of operations and product pricing Lisiency afher all expenses are considered Short-run debt-paying ability...
Marilyn Terrill is the senior auditor for the audit of Uden Supply Company for the year...
Marilyn Terrill is the senior auditor for the audit of Uden Supply Company for the year ended December 31, 20X4. In planning the audit, Marilyn is attempting to develop expectations for planning analytical procedures based on the financial information for prior years and her knowledge of the business and the industry, including these: 1. Based on economic conditions, she believes that the increase in sales for the current year should approximate the historical trend. 2. Based on her knowledge of...
[The following information applies to the questions displayed below.] Income statement and balance sheet data for Great Adventures, Inc., are provided below. GREAT ADVENTURES, INC. Income Statement...
[The following information applies to the questions
displayed below.]
Income statement and balance sheet data for Great Adventures,
Inc., are provided below.
GREAT ADVENTURES, INC.
Income Statement
For the Year Ended December 31, 2020
Revenues:
Service revenue (clinic, racing,
TEAM)
$535,000
Sales revenue (MU watches)
110,000
Total
revenues
$645,000
Expenses:
Cost of goods sold (MU
watches)
66,000
Operating expenses
303,876
Depreciation expense
46,000
Interest expense
29,324
Income tax expense
54,600
Total
expenses
499,800
Net income
$145,200
GREAT ADVENTURES, INC.
Balance...
Amazing Company began operations on January 1, 2015, and is now in its fourth year of...
Amazing Company began operations on January 1, 2015, and is now in its fourth year of operations. It is a retail sales company with a large amount of online sales. The adjusted trial balance as of December 31, 2019 appears below, along with prior year balance sheet data and some additional transaction data for 2018. AMAZING COMPANY Adjusted Trial Balance 12/31/2019 Account Title $ Cash Accounts Receivable Prepaid Insurance Inventory Office Equipment Machinery & Tools Accumulated Depreciation Accounts Payable Salaries...
Data for Barry Computer Co. and its industry averages follow. The firm's debt is priced at...
Data for Barry Computer Co. and its industry averages follow. The firm's debt is priced at par, so the market value of its debt equals its book value. Since dollars are in thousands, number of shares are shown in thousands too. Barry Computer Company: Balance Sheet as of December 31, 2019 (In Thousands) Cash $ 84,000 Accounts payable $ 119,000 Receivables 252,000 Other current liabilities 105,000 Inventories 196,000 Notes payable to bank 84,000 Total current assets $ 532,000 Total current...
Review the Watson case using the following financial ratios in a
trend analysis. Note that year 199x =1997, y=1998, and z = 1999.
While sales growth is strong, this firm has some issues. Can you
identify them? Recommend solutions?
1993 1994 1992 Growth in Sales Industry Watson 9.98% 20.00% 10.02% 20.00% Growth in EPS Industry Watson 9.7% 7.7% 9.8% 3.2% Industry 12 Profitability Profit Margin 13 Ratios Net Income/Sales 5.75% 6.26% 5.80% 5.63% Watson 5.81% 5.56% Return on Assets (ROA)...
The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,300,300 and cost of goods sold was $8,915,195. All of Pelican's sales are made on account and are due within 30 days. Current Year Prior Year Cash and cash equivalents 639,780 572,330 Accounts receivable 4,750,000 3,820,000 940,360 1,283,440 8,180,100 11,000,000 6,176,000 8,280,700 Inventory Total current assets 8,200,030 11,120,020 7,900,300 8,469,900 Total assets Total current liabilities Total liabilities Calculate the...
The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,300,300 and cost of goods sold was $8,915.195. All of Pelican's sales are made on account and are due within 30 days. 639,780 4,750,000 3.820,000 940,3601,283,440 8.200,030 8,180.100 11.120,020 11,000,000 7.900,3006.176,000 8.469,9008,280,700 Cash and cash equivalents Accounts receivable $ 572,330$ Inventory Total current assets Total assets Total current liabilities Total liabilities Calculate the following: a. Current ratios as of...
2020 Question #3 Springhill Corporation Balance Sheet December 31, 2021, and December 31", 2020 (in thousands) 2021 Assets Current Assets: Cash $90,000 Accounts Receivable 60,000 Inventory 18,000 Prepaid Expenses 2,000 Total Current Assets 170,000 Capital Assets (PP&E) 50,000 Total Assets $220,000 $57,000 40,000 10,000 1,000 108,000 30,000 $138,000 Liabilities: Accounts Payable Accrued Liabilities Income Taxes Payable Total Current Liabilities Long Term Debt Total liabilities $11,000 6,000 5,000 22,000 40,000 362,000 $4,000 3,000 8,000 15,000 8,000 S23,000 Shareholders' Equity Common Shares...
Marilyn Terrill is the senior auditor for the audit of Uden Supply Company for the year ended December 31, 20X4. In planning the audit, Marilyn is attempting to develop expectations for planning analytical procedures based on the financial information for prior years and her knowledge of the business and the industry, including these: 1. Based on economic conditions, she believes that the increase in sales for the current year should approximate the historical trend. 2. Based on her knowledge of...
5. Calculate the 2015 financial ratios for Phocbe Corporation rounded to the nearest tenth and put a checkmark in tbe row in which Phorbe's ratios are better than the industry average: Ratio Gross Profit Margin Net Profit Margin Current Ratio Inventory Turnover Receivables Turnover Phoebe Corporation (2015) Industry Averages Phocbe is Better 55.0% 27.5% 3.3 % % 15.5 8.5 Select Financial Ratios What It Measures Eficiency of operations and product pricing Lisiency afher all expenses are considered Short-run debt-paying ability...
Marilyn Terrill is the senior auditor for the audit of Uden Supply Company for the year ended December 31, 20X4. In planning the audit, Marilyn is attempting to develop expectations for planning analytical procedures based on the financial information for prior years and her knowledge of the business and the industry, including these: 1. Based on economic conditions, she believes that the increase in sales for the current year should approximate the historical trend. 2. Based on her knowledge of...
[The following information applies to the questions
displayed below.]
Income statement and balance sheet data for Great Adventures,
Inc., are provided below.
GREAT ADVENTURES, INC.
Income Statement
For the Year Ended December 31, 2020
Revenues:
Service revenue (clinic, racing,
TEAM)
$535,000
Sales revenue (MU watches)
110,000
Total
revenues
$645,000
Expenses:
Cost of goods sold (MU
watches)
66,000
Operating expenses
303,876
Depreciation expense
46,000
Interest expense
29,324
Income tax expense
54,600
Total
expenses
499,800
Net income
$145,200
GREAT ADVENTURES, INC.
Balance...
Amazing Company began operations on January 1, 2015, and is now in its fourth year of operations. It is a retail sales company with a large amount of online sales. The adjusted trial balance as of December 31, 2019 appears below, along with prior year balance sheet data and some additional transaction data for 2018. AMAZING COMPANY Adjusted Trial Balance 12/31/2019 Account Title $ Cash Accounts Receivable Prepaid Insurance Inventory Office Equipment Machinery & Tools Accumulated Depreciation Accounts Payable Salaries...
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