2017 2016 Accounts receivable $18,000 $19,500 Inventory $12,200 $9,000 Fixed assets, net $35,000 $31,000 Accounts payable...
|
2017 |
2016 |
|
|
Accounts receivable |
$18,000 |
$19,500 |
|
Inventory |
$12,200 |
$9,000 |
|
Fixed assets, net |
$35,000 |
$31,000 |
|
Accounts payable |
$15,000 |
$12,000 |
|
Net Sales |
$157,500 |
$176,000 |
|
Cost of goods sold |
$125,900 |
$137,000 |
|
Net income |
$52,900 |
$54,000 |
|
# Shares issued |
65,000 |
60,000 |
|
# Shares in treasury stock |
8,000 |
20,000 |
Calculate the following ratios for 2017:
(a) Fixed asset turnover
(b) Inventory turnover
(c) Receivable turnover
(d) Accounts payable turnover
(e) Earning Per Share
Homework Answers
Answer to Question a and b:
Answer to Question c:
Answer to Question d:
Add Answer to:
2017
2016
Accounts receivable
$18,000
$19,500
Inventory
$12,200
$9,000
Fixed assets, net
$35,000
$31,000
Accounts payable...
Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings December...
Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings December 31, 2017 $ 34,000 77,000 210,000 54,000 29,000 417,000 106,000 December 31, 2016 $ 16,500 122,500 183,000 92,500 65,000 417,000 102,500 Additional information: 1. The inventory turnover is 2.2 times. 2. The return on common stockholders' equity is 25%. The company had no additional paid-in capital. 3. The accounts receivable turnover is 8.1 times. 4. The return on assets is 12.5%. 5. Total assets...
2017 2016 Cash Accounts receivable (net) Inventory Land Buildings Accumulated depreciation-buildings $3,200 23,300 7,200 26,400 70,000...
2017 2016 Cash Accounts receivable (net) Inventory Land Buildings Accumulated depreciation-buildings $3,200 23,300 7,200 26,400 70,000 (14,600) (10,600) $110,300$119,500 $12,70031,100 68,600 19,800 $110,300$119,500 $ 4,500 20,800 10,100 19,500 70,000 Total Accounts payable Common stock Retained earnings 74,900 22,700 Total Wiemers's 2017 income statement included net sales of $110,000, cost of goods sold of $60,800, and net income of $15,000 Compute the following ratios for 2017. (Round answers to 2 decimal places, e.g. 1.65, or 1.65% .) Current ratio Acid-test ratio...
IKIBAN INC Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable,...
IKIBAN INC Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 97,900 60,000 67,000 79,800 110, 500 8,600 246,100 140,000 131,000 17,000 $377,700 $360,100 89,000 6,000 272,700 35,000 $ 41,000 54,000...
the net fixed assets for the year 2016 is? the net fixed assets for year 2017...
the net fixed assets for the year 2016 is?
the net fixed assets for year 2017 is?
(Click on the following icon in order to copy its contents into a spreadsheet.) Partial Income Statement Year Ending 2017 Sales revenue $349,900 Cost of goods sold $141,900 Fixed costs $42,900 Selling, general, and administrative expenses $27,900 Depreciation $46,100 W (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $15,900 Notes...
Waterway Corporation Balance Sheet December 31 2018 2017 Cash $19,500 $14,400 Accounts Receivable 29,300 19,900 Inventory...
Waterway Corporation Balance Sheet December 31 2018 2017 Cash $19,500 $14,400 Accounts Receivable 29,300 19,900 Inventory 14,900 10,100 Total Current Assets 63,700 44,400 Property, Plant & Equipment 78,100 68,100 Total Assets $141,800 $112,500 Accounts Payable $20,800 $9,600 Unearned Revenue 14,900 9,500 Note Payable (due 2021) 49,900 49,900 Total Liabilities 85,600 69,000 Common Shares 19,200 19,200 Retained Earnings 37,000 24,300 Shareholders’ Equity 56,200 43,500 Total Liabilities & Equity $141,800 $112,500 Waterway Corporation Income Statement For the year ending December 31 2018...
A firm has the following information from its 2017 statements: Inventory: $250,000 Accounts Receivable:...
A firm has the following information from its 2017 statements: Inventory: $250,000 Accounts Receivable: $180,000 Accounts Payable: $90,000 Net sales = $1,150,000 Cost of Goods sold = $820,000 a) Calculate its DIH, DSO and DPO. b) Calculate inventory, receivable and payable turnover ratios c) Calculate its Operating Cycle and CCC.
Cash $20,000 Accounts Receivable, Net 81,000 Merchandise Inventory 186,000 Total Assets 635,000 Accounts Payable 99,000 Accrued...
Cash $20,000 Accounts Receivable, Net 81,000 Merchandise Inventory 186,000 Total Assets 635,000 Accounts Payable 99,000 Accrued Liabilities 41,000 Short-term Notes Payable 48,000 Long-term Liabilities 224,000 Net Income 71,000 Common Shares Outstanding 10,000 1. Compute Road Trip's current ratio, debt ratio, and earnings per share. Round all ratios to two decimal places. 2. Compute the three ratios after evaluating the effect of each transaction that follows. Consider each transaction separately. a. Purchased merchandise inventory of $46,000 on account. b. Borrowed $122,000...
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...
CRUZ, INC Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net Inventory...
CRUZ, INC Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equitv Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 89,000 22,100 46,900 88,000 4,000 161,000 113,300 38,200 80,000 4,900 212,100 98,800 (15,300) (8,600) $295,600 $265,700 $ 13,900 19,600 4,600 2,600 26,800 69,000...
Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory $ 24,236 14,348 27,892 $ 26,000...
Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory $ 24,236 14,348 27,892 $ 26,000 17,100 29.000 $ 72,100 Liabilities and Owners' Equity 2017 Current liabilities Accounts payable $ 25,084 Notes payable 19,000 Other 13,471 $ 29,000 12,700 18,300 Total $ 66,476 Total $ 57,555 $ 60,000 $ 87,698 Long-term debt $ 88,000 S 45.000 Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 45,000 219,616 244,302 Fixed assets Net plant and equipment $343,695 $364 900 Total...
Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings December 31, 2017 $ 34,000 77,000 210,000 54,000 29,000 417,000 106,000 December 31, 2016 $ 16,500 122,500 183,000 92,500 65,000 417,000 102,500 Additional information: 1. The inventory turnover is 2.2 times. 2. The return on common stockholders' equity is 25%. The company had no additional paid-in capital. 3. The accounts receivable turnover is 8.1 times. 4. The return on assets is 12.5%. 5. Total assets...
2017 2016 Cash Accounts receivable (net) Inventory Land Buildings Accumulated depreciation-buildings $3,200 23,300 7,200 26,400 70,000 (14,600) (10,600) $110,300$119,500 $12,70031,100 68,600 19,800 $110,300$119,500 $ 4,500 20,800 10,100 19,500 70,000 Total Accounts payable Common stock Retained earnings 74,900 22,700 Total Wiemers's 2017 income statement included net sales of $110,000, cost of goods sold of $60,800, and net income of $15,000 Compute the following ratios for 2017. (Round answers to 2 decimal places, e.g. 1.65, or 1.65% .) Current ratio Acid-test ratio...
IKIBAN INC Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 97,900 60,000 67,000 79,800 110, 500 8,600 246,100 140,000 131,000 17,000 $377,700 $360,100 89,000 6,000 272,700 35,000 $ 41,000 54,000...
the net fixed assets for the year 2016 is?
the net fixed assets for year 2017 is?
(Click on the following icon in order to copy its contents into a spreadsheet.) Partial Income Statement Year Ending 2017 Sales revenue $349,900 Cost of goods sold $141,900 Fixed costs $42,900 Selling, general, and administrative expenses $27,900 Depreciation $46,100 W (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $15,900 Notes...
CRUZ, INC Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equitv Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 89,000 22,100 46,900 88,000 4,000 161,000 113,300 38,200 80,000 4,900 212,100 98,800 (15,300) (8,600) $295,600 $265,700 $ 13,900 19,600 4,600 2,600 26,800 69,000...
Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory $ 24,236 14,348 27,892 $ 26,000 17,100 29.000 $ 72,100 Liabilities and Owners' Equity 2017 Current liabilities Accounts payable $ 25,084 Notes payable 19,000 Other 13,471 $ 29,000 12,700 18,300 Total $ 66,476 Total $ 57,555 $ 60,000 $ 87,698 Long-term debt $ 88,000 S 45.000 Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 45,000 219,616 244,302 Fixed assets Net plant and equipment $343,695 $364 900 Total...
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