Homework Answers
15. Option d) Boomer co . has improved all solvency ratios from the prior year to current year ( Only debt ratio is given, hence it cannot be concluded that all solvency ratios have improved)
16. Option a)decreases in operating expenses as a percentage of sales is always a positive sign for a company since it increases the net income percentage ( Net income percentage is not solely determined the operating expenses and is influenced by other expenses as well)
17. Option b, When a company reduced the allowance for doubtful accounts so that earning appear higher.
Add Answer to:
thank you!! I will thumbs up for the help!
15. Boomer Co. had the following ratio...
I will make sure to thumbs up for all the help! thank you so much in...
I will make sure to thumbs up for all the help! thank you so
much in advange!
1. Assume Mario Company uses LIFO in an environment of increasing inventory cost. Which of the following is true? a) LIFO will result in higher net income than FIFO. b) LIFO will result in a higher inventory balance than FIFO c) LIFO will result in a lower cost of goods sold amount than FIFO. d) LIFO will result in a lower gross profit...
will thumbs up for the help! thank you sooo much! 12. Below is income statement data...
will thumbs up for the help! thank you sooo much!
12. Below is income statement data for Nike, Inc: Nike, Inc Consolidated Statements of Income $ in Millions 12 Months Ended May 31,2019 May 31, 2018 $39,117 21,643 $36,397 20,441 Revenues (net sales) Cost of sales Gross Profit Demand creation expense Operating overhead expense Total selling & Administrative expense Interest expense (income), net Other (income) expense, net $17,474 3753 8,949 $12,702 49 (78) 15,956 3,577 7,934 11,5111 54 66 Income...
thank you so much for the help! life saver! I will thumbs up for the help!...
thank you so much for the help! life saver! I will thumbs up for
the help!
5. All of the following are true regarding depreciation concepts, expect: a) As depreciation is recognized the book value of the fixed asset increases. b) The accumulated depreciation account is offset against the fix asset account on the balance sheet c) Depreciation is a way to recognize the expense of a fixed asset over its useful life d) Accumulated depreciation increases as a fixed...
i will thumbs up!! thank you so much! a real life saver 44. Leah Co. had...
i will thumbs up!! thank you so much! a real life saver
44. Leah Co. had the following ratio information: Current Year Prior Year Inventory Turnover 5.5 6.3 Accounts Receivable Turnover 13.3 14.1 Which of the following is false a) Leah Co may be experiencing a decline in the quality of credit customers b) Leah Co. has improved their liquidity c) It is taking Leah Co. longer to collect cash from accounts receivable d) Leah Co is becoming less efficient...
than you for the help! i will thumbs up! 2. Which of the following is false...
than you for the help! i will thumbs up!
2. Which of the following is false regarding receivables? a) They usually represent one of a company's most liquid assets. b) They are amounts owed by a company to their customers c) They can be one of the larges assets for a company d) They are generally classified as a current asset 3. When a company makes a sale on account a) Accounts Receivable Increases and Cash Increases b) Accounts Receivable...
Contribution Margin and Contribution Margin Ratio For a recent year, McDugal's company-owned restaurants had the following...
Contribution Margin and Contribution Margin Ratio For a recent year, McDugal's company-owned restaurants had the following sales and expenses (in millions): Sales $14,400 $3,960 Food and packaging Payroll 3,800 Occupancy (rent, depreciation, etc.) General, selling, and admin. expenses 8 INN Other expense 10 Total expenses 70 Operating income (loss) Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses. a. What is McDonald's contribution margin? Enter your answer in million,...
thank you! I will thumbs up for the help! appreciate it!! 27. K Co. purchased a...
thank you! I will thumbs up for the help! appreciate it!!
27. K Co. purchased a new piece of equipment on April 1 of the current year for $18,000. K Co. has estimated monthly depreciation to be $430. What is the book value of the equipment at the end of the year on December 31? a) $3,870 b) 3,440 c) 14,130 d) 14,560 e) 18,000 28. Profit Margin Asset Turnover ROA Company #1 7.0% 0.87 6.09% Company #2 5.9% 1.2...
Contribution Margin and Contribution Margin Ratio For a recent year, McDugal's company-owned restaurants had the following...
Contribution Margin and Contribution Margin Ratio For a recent year, McDugal's company-owned restaurants had the following sales and expenses (in millions): Sales $15,500 Food and packaging $5,480 Payroll 4,100 Occupancy (rent, depreciation, etc.) 3,520 General, selling, and admin. expenses 2,400 Other expense 310 Total expenses (15,810) Operating income (loss) $(310) Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses. a. What is McDonald's contribution margin? Enter your answer in...
Contribution Margin and Contribution Margin Ratio For a recent year, McDugal's company-owned restaurants had the following...
Contribution Margin and Contribution Margin Ratio For a recent year, McDugal's company-owned restaurants had the following sales and expenses (in millions): $32,500 Sales Food and packaging Payroll Occupancy (rent, depreciation, etc.) General, selling, and admin. expenses Other expense Total expenses Operating income (loss) $7,925 8,600 10,975 5,000 650 (33,150) $(650) Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses. a. What is McDonald's contribution margin? Enter your answer in...
Please help this is for a grade ! thank you!! Profitability ratios help in the analysis...
Please help this is for a grade ! thank you!!
Profitability ratios help in the analysis of the combined impact of liquidity ratios, asset management ratios, and debt management ratios on the operating performance of a firm. Your boss has asked you to calculate the profitability ratios of Gadget Twin Inc. and make comments on its second-year performance as compared to its first-year performance. The following shows Gadget Twin Inc.'s income statement for the last two years. The company had...
I will make sure to thumbs up for all the help! thank you so
much in advange!
1. Assume Mario Company uses LIFO in an environment of increasing inventory cost. Which of the following is true? a) LIFO will result in higher net income than FIFO. b) LIFO will result in a higher inventory balance than FIFO c) LIFO will result in a lower cost of goods sold amount than FIFO. d) LIFO will result in a lower gross profit...
will thumbs up for the help! thank you sooo much!
12. Below is income statement data for Nike, Inc: Nike, Inc Consolidated Statements of Income $ in Millions 12 Months Ended May 31,2019 May 31, 2018 $39,117 21,643 $36,397 20,441 Revenues (net sales) Cost of sales Gross Profit Demand creation expense Operating overhead expense Total selling & Administrative expense Interest expense (income), net Other (income) expense, net $17,474 3753 8,949 $12,702 49 (78) 15,956 3,577 7,934 11,5111 54 66 Income...
thank you so much for the help! life saver! I will thumbs up for
the help!
5. All of the following are true regarding depreciation concepts, expect: a) As depreciation is recognized the book value of the fixed asset increases. b) The accumulated depreciation account is offset against the fix asset account on the balance sheet c) Depreciation is a way to recognize the expense of a fixed asset over its useful life d) Accumulated depreciation increases as a fixed...
i will thumbs up!! thank you so much! a real life saver
44. Leah Co. had the following ratio information: Current Year Prior Year Inventory Turnover 5.5 6.3 Accounts Receivable Turnover 13.3 14.1 Which of the following is false a) Leah Co may be experiencing a decline in the quality of credit customers b) Leah Co. has improved their liquidity c) It is taking Leah Co. longer to collect cash from accounts receivable d) Leah Co is becoming less efficient...
than you for the help! i will thumbs up!
2. Which of the following is false regarding receivables? a) They usually represent one of a company's most liquid assets. b) They are amounts owed by a company to their customers c) They can be one of the larges assets for a company d) They are generally classified as a current asset 3. When a company makes a sale on account a) Accounts Receivable Increases and Cash Increases b) Accounts Receivable...
Contribution Margin and Contribution Margin Ratio For a recent year, McDugal's company-owned restaurants had the following sales and expenses (in millions): Sales $14,400 $3,960 Food and packaging Payroll 3,800 Occupancy (rent, depreciation, etc.) General, selling, and admin. expenses 8 INN Other expense 10 Total expenses 70 Operating income (loss) Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses. a. What is McDonald's contribution margin? Enter your answer in million,...
thank you! I will thumbs up for the help! appreciate it!!
27. K Co. purchased a new piece of equipment on April 1 of the current year for $18,000. K Co. has estimated monthly depreciation to be $430. What is the book value of the equipment at the end of the year on December 31? a) $3,870 b) 3,440 c) 14,130 d) 14,560 e) 18,000 28. Profit Margin Asset Turnover ROA Company #1 7.0% 0.87 6.09% Company #2 5.9% 1.2...
Contribution Margin and Contribution Margin Ratio For a recent year, McDugal's company-owned restaurants had the following sales and expenses (in millions): $32,500 Sales Food and packaging Payroll Occupancy (rent, depreciation, etc.) General, selling, and admin. expenses Other expense Total expenses Operating income (loss) $7,925 8,600 10,975 5,000 650 (33,150) $(650) Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses. a. What is McDonald's contribution margin? Enter your answer in...
Please help this is for a grade ! thank you!!
Profitability ratios help in the analysis of the combined impact of liquidity ratios, asset management ratios, and debt management ratios on the operating performance of a firm. Your boss has asked you to calculate the profitability ratios of Gadget Twin Inc. and make comments on its second-year performance as compared to its first-year performance. The following shows Gadget Twin Inc.'s income statement for the last two years. The company had...
Most questions answered within 3 hours.
-
2) You are given the task of finding a representation for a
circle in a drawing...
asked 46 minutes ago -
STUDY QUESTION: Does use of diet drug fen-phen
(fenfluramine-phentermine) cause valvular heart disease?
HINT: Valvular heart...
asked 37 minutes ago -
1. An object weighing 40 N rests on a surface. The coefficient
of friction is 0.35....
asked 1 hour ago -
Investor company owns 35% of investee company voting stock and
accounts for the investment under the...
asked 2 hours ago -
The number of major faults on a randomly chosen 1 km stretch of
highway has a...
asked 3 hours ago -
Consider the competitive environment of Starbuck's, Progressive
Insurance, a manufacturing firm with low turnover, or a...
asked 4 hours ago -
3. Gains from trade
Consider two neighbouring island countries called Euphoria and
Contente. They each have...
asked 6 hours ago -
A business executive has the option to invest money in two
plans: Plan A guarantees that...
asked 8 hours ago -
Hello, can someone please help me answer this question?
How much heat is absorbed by a...
asked 8 hours ago -
. A marketing researcher conducted a survey of 25 shoppers
randomly selected at the local mall...
asked 8 hours ago -
Create an comprehensive response to the
following:
Antimicrobial agents work on a multitude of microbes (bacteria,...
asked 8 hours ago -
6.13 LAB: Step counter. Section 6.3.
A pedometer treats walking 2,000 steps as walking 1 mile....
asked 8 hours ago