Homework Answers
| a. | Current Ratio | Current Assets / Current Liabilities | 1.5 :1 |
| b. | Acid-test Ratio | ( Current Assets - Inventory ) / Current Liabilities | 0.95 :1 |
| c. | Accounts Receivable Turnover | Net Sales / Average Accounts Receivable | 6.2 times |
| d. | Inventory Turnover | Cost of Goods Sold / Average Inventory | 4.5 times |
| e. | Profit Margin | Net Income / Net Sales * 100 | 7.6 % |
| f. | Asset Turnover | Net Sales / Average Total Assets | 0.9 times |
| g. | Return on Assets | Net Income / Average Total Assets | 6.4 % |
| h. | Return on Ordinary Shareholders Equity | Net Income / Average Total Equity | 10.5 % |
| i. | Earnings per Share | Net Income / Common Shares Outstanding | 1.29 |
| j. | Price Earnings Ratio | Market Price per Share / Earnings per Share | 15.1 times |
| k. | Payout Ratio | Dividends per Share / Earnings per Share | 22.2 % |
| l. | Debt to Total Assets | Total Liabilities/ Total Assets | 40.4 % |
| m. | Times Interest Earned | Operating Income / Interest Expense | 8.5 times |
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LIIS Weygandt, Financial Accounting: IFRS, 3e Help System Announcements en Assignment SOURCES 2016 £420,000 by Study...
Kimmel, Survey of Accounting, le Practice Assignment Gradebook ORION Downloadable eTextbook gnment CALCULATOR MESSAGE MY INST...
Kimmel, Survey of Accounting, le Practice Assignment Gradebook ORION Downloadable eTextbook gnment CALCULATOR MESSAGE MY INST Do It Review 2-2 The following information is available for Novak Corp. Current assets Total assets Current liabilities Total liabilities 2017 $ 50,400 250,000 24,000 77,500 102,125 90,000 2016 $44,980 220,000 34,600 101,200 33,800 56,000 5,000 1,000 14,000 Net Income 5,000 Net cash provided by operating activities Preferred dividends Common dividends Expenditures on property, plant, and equipment 2,000 29,000 Shares outstanding at beginning of...
Question 2 The comparative statements of Shamrock Company Limited are presented below. 2016 £421,000 SHAMROCK COMPANY...
Question 2 The comparative statements of Shamrock Company Limited are presented below. 2016 £421,000 SHAMROCK COMPANY LIMITED Income Statement For the Years Ended December 31 2017 Net sales (all on account) £499,000 Expenses Cost of goods sold 316,000 Selling and administrative 120,000 Interest expense 8,900 Income tax expense 20,700 Total expenses 465,600 Net income £ 33,400E 254,000 115,000 5,300 14,000 388,300 32,700 2016 £382,000 SHAMROCK COMPANY LIMITED Statements of Financial Position December 31 2017 Plant assets (net) £423,000 Current assets...
LARKER TOOL SA Statements of Financial Position December 31 Assets 2017 2016 Plant assets (net)...
LARKER TOOL SA Statements of Financial Position December 31 Assets 2017 2016 Plant assets (net) R$600,300 R$520,300 Current assets Inventory R$110,950 R$115,500 Accounts receivable (net) 105,750 102,800 Short-term investments 69,000 50,000 Cash 60,100 345,800 64,200 332,500 Total assets R$946,100 R$852,800 Equity and Liabilities 2017 2016 Equity Share capital—ordinary (R$5 par) R$300,000 R$300,000 Retained earnings 242,600 165,000 Total equity 542,600 465,400 Bonds payable 200,000 200,000 Current liabilities Accounts payable 160,000 145,400 Income taxes payable 43,500 42,000 Total current...
Additional data: The ordinary shares recently sold at £19.50 per share. Compute the following ratios for...
Additional data:
The ordinary shares recently sold at £19.50 per share.
Compute the following ratios for 2017. (Round acid-test ratio
and earnings per share to 2 decimal places, e.g. 1.65, and all
other answers to 1 decimal place, e.g. 6.8 or 6.8% .)
Question 2 The comparative statements of Shamrock Company Limited are presented below. 2016 £421,000 SHAMROCK COMPANY LIMITED Income Statement For the Years Ended December 31 2017 Net sales (all on account) £499,000 Expenses Cost of goods sold...
Prepare a class JS Is Kimmel, Accounting, 7e Help System Announcements Grace Period: 6 days left...
Prepare a class
JS Is Kimmel, Accounting, 7e Help System Announcements Grace Period: 6 days left Register Now Total liabilities and stockholders' equity CALCULATOR PRINTER VERSION $999,700 MACK NEXT Additional information: The net cash provided by operating activities for 2022 was $192,000. The cash used for capital expenditures was $91,500. The cash used for dividends was $32,300. The weighted average common shares outstanding during the year was 50,000. (a) compute the following values and ratios for 2022. (We provide the...
LARKER TOOL SA Statements of Financial Position December 31 Assets 2017 2016 Plant assets (net) R$600,300...
LARKER TOOL SA Statements of Financial Position December 31 Assets 2017 2016 Plant assets (net) R$600,300 R$520,300 Current assets Inventory R$110,950 R$115,500 Accounts receivable (net) 105,750 102,800 Short-term investments 69,000 50,000 Cash 60,100 345,800 64,200 332,500 Total assets R$946,100 R$852,800 Equity and Liabilities 2017 2016 Equity Share capital—ordinary (R$5 par) R$300,000 R$300,000 Retained earnings 242,600 165,000 Total equity 542,600 465,400 Bonds payable 200,000 200,000 Current liabilities Accounts payable 160,000 145,400 Income taxes payable 43,500 42,000 Total current liabilities 203,500 187,400...
Question 2 The comparative statements of Skysong Company Limited are presented below. 2016 £419,000 SKYSONG COMPANY...
Question 2 The comparative statements of Skysong Company Limited are presented below. 2016 £419,000 SKYSONG COMPANY LIMITED Income Statement For the Years Ended December 31 2017 Net sales (all on account) £499,000 Expenses Cost of goods sold 315,000 Selling and administrative 119,000 Interest expense 8,800 Income tax expense 20,800 Total expenses 463,600 Net Income £ 35,400 255,000 115,000 5,900 14,800 390,700 E 28,300 2016 £384,000 60,300 75,000 14,300 17,100 166,700 £550,700 SKYSONG COMPANY LIMITED Statements of Financial Position December 31...
Total: 23 Marks Question 4 Suggested time allocation: 414 Minutes The comparative statements of Gong Limited are pre...
Total: 23 Marks Question 4 Suggested time allocation: 414 Minutes The comparative statements of Gong Limited are presented below. Gong Limited Income Statement For the year ended 30 June 2018 $ 600,000 2017 Net sales (all on account) Expenses: Cost of sales 520,000 415,000 123,800 354,000 114,800 6,000 14,000 488,800 31,200 Selling and administrative Interest Expense Income tax expense Total expenses Profit 7,800 18,000 564,600 35,400 Gong Limited Statement of Financial Position As at 30 June Assets 2018 2017 Current...
The comparative statements of Crane Company are presented here: Crane Company Income Statements For the Years...
The comparative statements of Crane Company are presented here: Crane Company Income Statements For the Years Ended December 31 2020 Net sales $1,898,740 Cost of goods sold 1,066,740 Gross profit 832,000 Selling and administrative expenses 508,200 Income from operations 323,800 Other expenses and losses Interest expense 23,700 Income before income taxes 300,100 Income tax expense 93,700 Net income $206,400 2019 $1,758,700 1,014,200 744,500 487,200 257,300 21,700 235,600 74,700 $160,900 Crane Company Balance Sheets December 31 Assets 2020 2019 Current assets...
Kimmel, Accounting, 7e Help | System Announcements Problem 13-02A The comparative statements of Blossom Company are...
Kimmel, Accounting, 7e Help | System Announcements Problem 13-02A The comparative statements of Blossom Company are presented here. 2021 $1,785,000 1,046,240 BLOSSOM COMPANY Income Statements For the Years Ended December 31 2022 Net sales $1,919,400 Cost of goods sold 1,067,000 Gross profit 852,400 Selling and administrative expenses 520,000 Income from operations 332,400 Other expenses and losses Interest expense 22,880 Income before income taxes 309,520 Income tax expense 92,856 Net income $ 216,664 738,760 498,160 240,600 20,800 219,800 65,940 $ 153,860...
Kimmel, Survey of Accounting, le Practice Assignment Gradebook ORION Downloadable eTextbook gnment CALCULATOR MESSAGE MY INST Do It Review 2-2 The following information is available for Novak Corp. Current assets Total assets Current liabilities Total liabilities 2017 $ 50,400 250,000 24,000 77,500 102,125 90,000 2016 $44,980 220,000 34,600 101,200 33,800 56,000 5,000 1,000 14,000 Net Income 5,000 Net cash provided by operating activities Preferred dividends Common dividends Expenditures on property, plant, and equipment 2,000 29,000 Shares outstanding at beginning of...
Question 2 The comparative statements of Shamrock Company Limited are presented below. 2016 £421,000 SHAMROCK COMPANY LIMITED Income Statement For the Years Ended December 31 2017 Net sales (all on account) £499,000 Expenses Cost of goods sold 316,000 Selling and administrative 120,000 Interest expense 8,900 Income tax expense 20,700 Total expenses 465,600 Net income £ 33,400E 254,000 115,000 5,300 14,000 388,300 32,700 2016 £382,000 SHAMROCK COMPANY LIMITED Statements of Financial Position December 31 2017 Plant assets (net) £423,000 Current assets...
Additional data:
The ordinary shares recently sold at £19.50 per share.
Compute the following ratios for 2017. (Round acid-test ratio
and earnings per share to 2 decimal places, e.g. 1.65, and all
other answers to 1 decimal place, e.g. 6.8 or 6.8% .)
Question 2 The comparative statements of Shamrock Company Limited are presented below. 2016 £421,000 SHAMROCK COMPANY LIMITED Income Statement For the Years Ended December 31 2017 Net sales (all on account) £499,000 Expenses Cost of goods sold...
Prepare a class
JS Is Kimmel, Accounting, 7e Help System Announcements Grace Period: 6 days left Register Now Total liabilities and stockholders' equity CALCULATOR PRINTER VERSION $999,700 MACK NEXT Additional information: The net cash provided by operating activities for 2022 was $192,000. The cash used for capital expenditures was $91,500. The cash used for dividends was $32,300. The weighted average common shares outstanding during the year was 50,000. (a) compute the following values and ratios for 2022. (We provide the...
Question 2 The comparative statements of Skysong Company Limited are presented below. 2016 £419,000 SKYSONG COMPANY LIMITED Income Statement For the Years Ended December 31 2017 Net sales (all on account) £499,000 Expenses Cost of goods sold 315,000 Selling and administrative 119,000 Interest expense 8,800 Income tax expense 20,800 Total expenses 463,600 Net Income £ 35,400 255,000 115,000 5,900 14,800 390,700 E 28,300 2016 £384,000 60,300 75,000 14,300 17,100 166,700 £550,700 SKYSONG COMPANY LIMITED Statements of Financial Position December 31...
Total: 23 Marks Question 4 Suggested time allocation: 414 Minutes The comparative statements of Gong Limited are presented below. Gong Limited Income Statement For the year ended 30 June 2018 $ 600,000 2017 Net sales (all on account) Expenses: Cost of sales 520,000 415,000 123,800 354,000 114,800 6,000 14,000 488,800 31,200 Selling and administrative Interest Expense Income tax expense Total expenses Profit 7,800 18,000 564,600 35,400 Gong Limited Statement of Financial Position As at 30 June Assets 2018 2017 Current...
The comparative statements of Crane Company are presented here: Crane Company Income Statements For the Years Ended December 31 2020 Net sales $1,898,740 Cost of goods sold 1,066,740 Gross profit 832,000 Selling and administrative expenses 508,200 Income from operations 323,800 Other expenses and losses Interest expense 23,700 Income before income taxes 300,100 Income tax expense 93,700 Net income $206,400 2019 $1,758,700 1,014,200 744,500 487,200 257,300 21,700 235,600 74,700 $160,900 Crane Company Balance Sheets December 31 Assets 2020 2019 Current assets...
Kimmel, Accounting, 7e Help | System Announcements Problem 13-02A The comparative statements of Blossom Company are presented here. 2021 $1,785,000 1,046,240 BLOSSOM COMPANY Income Statements For the Years Ended December 31 2022 Net sales $1,919,400 Cost of goods sold 1,067,000 Gross profit 852,400 Selling and administrative expenses 520,000 Income from operations 332,400 Other expenses and losses Interest expense 22,880 Income before income taxes 309,520 Income tax expense 92,856 Net income $ 216,664 738,760 498,160 240,600 20,800 219,800 65,940 $ 153,860...
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