The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,510,000, with...
The balance sheet for Stud Clothiers is shown next. Sales for
the year were $3,510,000, with 75 percent of sales sold on
credit.
| STUD CLOTHIERS Balance Sheet 20X1 |
|||||
| Assets | Liabilities and Equity | ||||
| Cash | $ | 39,000 | Accounts payable | $ | 297,000 |
| Accounts receivable | 304,000 | Accrued taxes | 128,000 | ||
| Inventory | 294,000 | Bonds payable (long-term) | 122,000 | ||
| Plant and equipment | 488,000 | Common stock | 100,000 | ||
| Paid-in capital | 150,000 | ||||
| Retained earnings | 328,000 | ||||
| Total assets | $ | 1,125,000 | Total liabilities and equity | $ | 1,125,000 |
Compute the following ratios: (Use a 360-day year. Do not
round intermediate calculations. Round your answers to 2 decimal
places. Input your debt-to-total assets answer as a percent rounded
to 2 decimal places.)
Current ratio:
Quick ratio:
Debt to total assets ratio:
asset turnover:
average collection period :
Homework Answers
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The balance sheet for Stud Clothiers is shown next. Sales for
the year were $3,510,000, with...
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,990,000, with...
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,990,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance Sheet 20X1 Assets Liabilities and Equity Cash Accounts receivable Inventory Plant and equipment $74,000 Accounts payable % 305,000 153,000 147,000 100,000 150,000 229,000 1,084,000 287,000 310,000 413,000 Accrued taxes Bonds payable (long-term) Common stock Paid-in capital Retained earnings Total assets $ 1,084,000 Total liabilities and equity Compute the following ratios: (Use a 360-day year....
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,490,000, with...
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,490,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance Sheet 20X1 Assets Liabilities and Equity $262,000 148,000 178,000 100,000 $ 38,000 Accounts payable Accounts receivable Inventory Plant and equipment 292,000 248,000 500,000 Accrued taxes Bonds payable (long-term) Common stock Paid-in capital Retained earnings 150,000 240,000 $ 1,078,000 $ 1,078,000 Total assets Total liabilities and equity Compute the following ratios: (Use a 360-day year....
The balance sheet for Stud Clothiers is shown next Sales for the year were $3,460,000, with...
The balance sheet for Stud Clothiers is shown next Sales for the year were $3,460,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance sheet 2ex1 Assets Liabilities and Equity Cash $ 54,000 Accounts payable $ 287,000 Accounts receivable 348,000 Accrued taxes 93,000 Inventory 272,000 Bonds payable (long-term) 131,000 Plant and equipment 464,000 Common stock 100,000 Paid-in capital 150,000 Retained earnings 377,000 Total liabilities and Total assets $1,138,000 equity $1,138,000 Compute the following ratios: (Use a 360-day year....
Check my The balance sheet for Stud Clothiers is shown next Sales for the year were...
Check my The balance sheet for Stud Clothiers is shown next Sales for the year were $3,570,000, with 75 percent of sales sold on credit Assets Cash Accounts receivable Inventory Plant and equipment STUD CLOTHIERS Balance Sheet zexi Liabilities and Equity $ 20,000 Accounts payable 35e,eee Accrued taxes 260,000 Bonds payable (long-term) 350,000 Common stock Paid-in capital Retained earnings $ 980,000 Total liabilities and equity 245,000 100,00 126,000 100,000 150.000 250,000 980,000 Total assets $ Compute the following ratios: (Use...
Compute the following ratios: (Use a 360-day year. Do not round intermediate calculations. Round your answers...
Compute the following ratios: (Use a 360-day year. Do
not round intermediate calculations. Round your answers to 2
decimal places. Input your debt-to-total assets answer as a percent
rounded to 2 decimal places.)
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,190,000, with 75 perc STUD CLOTHIERS Balance Sheet 20X1 Liabilities and Equity %24 Assets Accounts payable Cash 279,000 24,000 Accounts receivable Inventory Plant and equipment 283,000 266,000 450,000 Accrued taxes 107,000 130,000 Bonds...
5. The balance sheet for the Novi Corporation is shown below. Sales for the year were...
5. The balance sheet for the Novi Corporation is shown below. Sales for the year were $3,040,000, with 75 percent of sales sold on credit. Novi Corporation Balance Sheet 200X Assets Liabilities & Shareholder's Equity Cash................... $50,000 Account payable....... $220,000 Account receivable ....280,000 Accrued taxes............ 80,000 Inventory....................240,000 Bond payable...........118,000 Plant and Equipment..380,000 Common Stock..........100,000 Paid-in Capital ...........150,000 Retained earning........282,000 Total Assets.............$950,000 Total Liabilities and ----- Stockholder's equity. $950,000 Compute the following ratios: a) Current ratio. 1.90 b) Quick ratio. c)...
Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for...
Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.7 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 27% Total liabilities-to-assets ratio: 55% Quick ratio: 0.75 Days sales outstanding (based on 365-day year): 33 days Inventory turnover ratio: 6.0 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales $ ...
Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for...
Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 2.3 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% Total liabilities-to-assets ratio: 45% Quick ratio: 1.25 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.00 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales Cost...
The firm is generating its proforma balance sheet for 2016. For the year 2015, sales were $4 mill...
The firm is generating its proforma balance sheet for 2016. For the year 2015, sales were $4 million. Sales are expected to be $5 million in 2016. The company expects its net profit margin for 2016 to equal 5%. In each of the past several years, the company has been paying $50,000 in dividends to its stockholders. The company wants to increase dividends to $80,000 in 2016. The 2015 balance sheet for the company is below. Assume that Cash, Accounts...
Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit selected balance sheet...
Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit selected balance sheet amounts at December 31, 2015, were inventory, $54,900, total assets, $209,400; common stock, $88,000; and retained earnings. $35,774,) CABOT CORPORATION Income Statenent or Year Ended December 31, 2016 $448,600 298,450 Sales Cost of goods sold Gross profit Operating expenses 150,150 98,800 4,000 47,350 19,074 Interest expense Income before taxes Income taxes 28,276 Net incone CABOT CORPORATION Balance Sheet December 31, 2016 Liabilities and Equity...
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,990,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance Sheet 20X1 Assets Liabilities and Equity Cash Accounts receivable Inventory Plant and equipment $74,000 Accounts payable % 305,000 153,000 147,000 100,000 150,000 229,000 1,084,000 287,000 310,000 413,000 Accrued taxes Bonds payable (long-term) Common stock Paid-in capital Retained earnings Total assets $ 1,084,000 Total liabilities and equity Compute the following ratios: (Use a 360-day year....
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,490,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance Sheet 20X1 Assets Liabilities and Equity $262,000 148,000 178,000 100,000 $ 38,000 Accounts payable Accounts receivable Inventory Plant and equipment 292,000 248,000 500,000 Accrued taxes Bonds payable (long-term) Common stock Paid-in capital Retained earnings 150,000 240,000 $ 1,078,000 $ 1,078,000 Total assets Total liabilities and equity Compute the following ratios: (Use a 360-day year....
The balance sheet for Stud Clothiers is shown next Sales for the year were $3,460,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance sheet 2ex1 Assets Liabilities and Equity Cash $ 54,000 Accounts payable $ 287,000 Accounts receivable 348,000 Accrued taxes 93,000 Inventory 272,000 Bonds payable (long-term) 131,000 Plant and equipment 464,000 Common stock 100,000 Paid-in capital 150,000 Retained earnings 377,000 Total liabilities and Total assets $1,138,000 equity $1,138,000 Compute the following ratios: (Use a 360-day year....
Check my The balance sheet for Stud Clothiers is shown next Sales for the year were $3,570,000, with 75 percent of sales sold on credit Assets Cash Accounts receivable Inventory Plant and equipment STUD CLOTHIERS Balance Sheet zexi Liabilities and Equity $ 20,000 Accounts payable 35e,eee Accrued taxes 260,000 Bonds payable (long-term) 350,000 Common stock Paid-in capital Retained earnings $ 980,000 Total liabilities and equity 245,000 100,00 126,000 100,000 150.000 250,000 980,000 Total assets $ Compute the following ratios: (Use...
Compute the following ratios: (Use a 360-day year. Do
not round intermediate calculations. Round your answers to 2
decimal places. Input your debt-to-total assets answer as a percent
rounded to 2 decimal places.)
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,190,000, with 75 perc STUD CLOTHIERS Balance Sheet 20X1 Liabilities and Equity %24 Assets Accounts payable Cash 279,000 24,000 Accounts receivable Inventory Plant and equipment 283,000 266,000 450,000 Accrued taxes 107,000 130,000 Bonds...
5. The balance sheet for the Novi Corporation is shown below. Sales for the year were $3,040,000, with 75 percent of sales sold on credit. Novi Corporation Balance Sheet 200X Assets Liabilities & Shareholder's Equity Cash................... $50,000 Account payable....... $220,000 Account receivable ....280,000 Accrued taxes............ 80,000 Inventory....................240,000 Bond payable...........118,000 Plant and Equipment..380,000 Common Stock..........100,000 Paid-in Capital ...........150,000 Retained earning........282,000 Total Assets.............$950,000 Total Liabilities and ----- Stockholder's equity. $950,000 Compute the following ratios: a) Current ratio. 1.90 b) Quick ratio. c)...
Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 2.3 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% Total liabilities-to-assets ratio: 45% Quick ratio: 1.25 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.00 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales Cost...
Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit selected balance sheet amounts at December 31, 2015, were inventory, $54,900, total assets, $209,400; common stock, $88,000; and retained earnings. $35,774,) CABOT CORPORATION Income Statenent or Year Ended December 31, 2016 $448,600 298,450 Sales Cost of goods sold Gross profit Operating expenses 150,150 98,800 4,000 47,350 19,074 Interest expense Income before taxes Income taxes 28,276 Net incone CABOT CORPORATION Balance Sheet December 31, 2016 Liabilities and Equity...
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