Make sure the steps are clear please 4 Check ny w Required information Exercise 13-8 Liquidity...
Required information Exercise 13-8 Liquidity analysis and interpretation LO P3 (The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,733 $ 32,418 $ 32,457 89,500 63,000 52,300 114,000...
Required information Exercise 13-8 Liquidity analysis and interpretation LO P3 [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,230 $ 37,673 $ 39,243 89,400 62,800 50, 100...
Required information Exercise 13-8 Liquidity analysis and interpretation LO P3 [The following information applies to the questions displayed below.] Simon Companyâ€s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 26,619 $ 31,115 $ 32,412 Accounts receivable, net 89,000 62,100 53,200 Merchandise inventory 114,500 83,000 57,000 Prepaid expenses 8,572 8,168 3,601 Plant assets, net 217,041 208,489 184,487 Total assets $ 455,732 $ 392,872 $ 330,700 Liabilities and Equity Accounts payable $ 112,342 $ 65,731 $ 43,216...
Required information Part 2 of 4 Exercise 13-8 Liquidity analysis and interpretation LO P3 [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. points At December 31 Assets 2017 2015 2016 $ 33,579 $ 39,250 $ 40,076 57,400 58,000 4,453 240,871 Cash 89,000 112,000 10,813 Accounts receivable, net Merchandise inventory Prepaid expenses 63,000 83,500 10,303 eBook 318,101 289,717 Plant assets, net $ 563,493 $ 485,770 $ 400,800 Total assets Hint Liabilities and Equity $...
Exercise 17-8 Liquidity analysis and interpretation LO P3 [The following information applies to the questions displayed below.j Simon Company's year-end balance sheets follovw At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 2017 $ 31,800 35,625 $37,800 50,200 54,000 5,000 278, 500 255,000 230,500 $523,000 $445,000 377,500 89,500 62,500 112,500 82,500 9,375 10,700 Liabilities and Equity Accounts payable Long-term notes payable secured by $129,900 75,250 $ 51,250 mortgages on plant assets Common...
Exercise 13-8 Liquidity analysis and interpretation LO P3 [The following information applies to the questions displayed below Simon Company's year-end balance sheets follow Assets Cash Accounts receivable, net Nerchandise inventory Prepaid expenses Plant assets, net Total assets $25,396 $ 29,685 30,922 89,90063,000 57,000 110,500 84,000 60,000 8,1787,7923,436 200,810 190,337 164,142 $ 434,784 $374,814 $ 315,500 Liabilities and Equity Accounts payable Long-tern notes payable secured by 107,179 5 62,710 $ 41,230 mortgages on plant assets Common stock, $10 par value 80,922...
Chapter 13 Homepage Managerial Acetil apter 13 Homework Required information The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow At December 31 2017 2016 2015 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total asete Liabilities and Equity $ 29,951 $ 35,010 $ 37.221 89.300 62,900 51,200 111,500 84,500 57.000 9,645 9,190 4,136 282.957 259,566 238,043 $ 523,353 $ 451.166 $ 387,600 $ 126,405 73,960 $ 49.628 Long-term totes payable secured by...
Simon Company’s year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
27,904
$
32,617
$
34,676
Accounts receivable, net
89,700
62,600
59,700
Merchandise inventory
113,000
83,000
54,000
Prepaid expenses
8,986
8,562
3,853
Plant assets, net
247,981
233,541
208,871
Total assets
$
487,571
$
420,320
$
361,100
Liabilities and Equity
Accounts payable
$
117,763
$
68,903
$
46,235
Long-term notes payable secured by
mortgages on plant assets
88,913
93,773
77,409
Common stock, $10 par value
162,500
162,500...
Exercise 17-8 Liquidity analysis and interpretation LO
P3
[The following information applies to the questions
displayed below.]
Simon Company’s year-end balance sheets follow.
The company’s income statements for the years ended December 31,
2017 and 2016, follow. Assume that all sales are on credit:
Exercise 17-8 Part 1
(1) Compute days' sales uncollected.
Exercise 17-8 Part 2
(2) Compute accounts receivable turnover.
Exercise 17-8 Part 3
(3) Compute inventory turnover.
Exercise 17-8 Part 4
(4) Compute days' sales in inventory....
mnment Exercise 5-13 Inventory turnover and days' soles in inventory LO AS The following is information for Palmer Co. 2017 2016 2016 2015 $568,825 $351,650 Cost of goods sold Ending inventory $316, 380 99, 103,900 94,252 Use the above information to compute inventory turnover for 2017 and 2016, and its days' sales in inventory a 2016. (a) Use the above information to compute inventory turnover for 2016, and its days' sales in inventory at December 31, 2016. Numerator Denominator Ratio...