Homework Answers
Current assets:
Cash ........................................................................ $ 6,000
Accounts receivable................................................ 15,000
Office supplies........................................................ 1,800
Prepaid insurance.................................................... 2,500
Total current assets ................................................. $25,300
Current liabilities:
Accounts payable.................................................... $10,000
Unearned services revenue ..................................... 4,000
Total current liabilities............................................ $14,000
Current ratio = $25,300 / $14,000 = 1.81
Current assets:
Cash ........................................................................ $ 6,000
Accounts receivable................................................ 15,000
Office supplies........................................................ 1,800
Prepaid insurance.................................................... 2,500
Total current assets ................................................. $25,300
Current liabilities:
Accounts payable.................................................... $10,000
Unearned services revenue ..................................... 4,000
Total current liabilities............................................ $14,000
Current ratio = $25,300 / $14,000 = 1.81
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Homework QS 3-25 Identifying current accounts and computing the current ratio LO A2 Accounts receivable Accounts...
9781259536 QS 1-15 Computing and interpreting return on assets LO A2 In a recent year's financial...
9781259536
QS 1-15 Computing and interpreting return on assets LO A2 In a recent year's financial statements, Home Depot reported the following results. Sales Net income Average total assets $83 billion 6 billion 40 billion Compute Home Depot's return on assets. (Enter the values in billions.) Choose Denominator Choose Numerator Net income Return on Assets Average total assets
Exercise 4-13 Computing the current ratio LO A1 Use the information in the following adjusted trial...
Exercise 4-13 Computing the current ratio LO A1 Use the information in the following adjusted trial balance for the Wilson Trucking Company. Credit Debit $ 6,400 16,500 2,000 154,000 $ 31,724 75,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense-Trucks Totals 10,400 3,000 52,000 149,634 19,000 119,500 20, 462 56,046 6,573 10,277...
Exercise 4-14 Computing and analyzing acid-test and current ratios LO A1 Compute the current ratio and...
Exercise 4-14 Computing and analyzing acid-test and current ratios LO A1 Compute the current ratio and acid-test ratio for each of the following separate cases. Torino Camaro GTO $2,850 $1,500 Cash 320 Short-term investments 0 0 400 Current receivables 350 600 500 Inventory Prepaid expenses 2,400 2,200 3,500 400 700 900 $6,000 $3,820 $6,800 Total current assets $2,400 $1,410 $4,000 Current 1iabilities Current Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio Camaro / to 1 GTO to 1 Torino...
Find the current ratio and show the numerator and denominator in ratio calculation Assets Cash Accounts...
Find the current ratio and show the numerator and denominator
in ratio calculation
Assets Cash Accounts Recievable $15,230 6,410 $21,640 Current Assets Land Building Furniture and Fixes Projection Equipment 25,000 34,000 60,000 26,000 2Long-term Assets 3 Total Assets $145,000 $166,640 5 Current Liabilites 6 Accounts Payable 7 Notes Payable 8 Salaries and wages pay 19 20 Total Liabilities 21 22 Owners Equity 23 Common Stock 24 Retained Earnings 25 Total Equity 26 $15,600 20,000 2,000 $37,600 60,000 69,040 129,040 27...
QS 5-14 Computing and analyzing gross margin ratio LO A2 Sales Sales discounts Sales returns and allowances Cost of...
QS 5-14 Computing and analyzing gross margin ratio LO A2 Sales Sales discounts Sales returns and allowances Cost of goods sold $169,000 4,000 15,000 99,150 $930,000 21,500 6,000 557,745 $57,000 600 5,800 38,962 d $276,000 5,300 2,200 129,417 Compute net sales, gross profit, and the gross margin ratio for each separate case a through d. (Round your gross margin ratio to 1 decimal place; I.e.; 0.2367 should be entered as 23.7%.) (b) Net sales Gross profit Gross margin ratio
Exercise 13-3 Computing and interpreting trend percents LO P1 Sales Cost of goods sold Accounts receivable...
Exercise 13-3 Computing and interpreting trend percents LO P1 Sales Cost of goods sold Accounts receivable 2019 2018 2017 2016 2015 $ 718,080 $ 478, 720 $ 384,514 $ 275,637 $ 198,300 347,128 231,436 187,867 133,706 95,184 34,827 27,909 26,378 16,097 13,544 Compute trend percents for the above accounts, using 2015 as the base year. Dok Trend Percent for Net Sales: Choose Denominator: Choose Numerator: int Trend percent % 1 1 % int 2019: 2018: 2017: 2016: % % onces...
Exercise 13-3 Computing and interpreting common-size percents LO P1 Sales Cost of goods sold Accounts receivable...
Exercise 13-3 Computing and interpreting common-size percents LO P1 Sales Cost of goods sold Accounts receivable 2019 2018 2017 2016 2015 $ 716,496 $ 477,664 $ 373, 175 $ 261,877 $ 196,900 353,683 235,605 186,256 129, 920 96,481 34,678 27,896 25,488 15,294 13,468 Compute trend percents for the above accounts, using 2015 as the base year. Trend Percent for Net Sales: Choose Numerator: 6 B O 2 ET . Trend percent . 2019: 2018: 2017: 2016: Trend Percent for Cost...
Exercise 3-14 Computing and analyzing the current ratio LO A2 1. Calculate the current ratio for...
Exercise 3-14 Computing and analyzing the current ratio LO A2 1. Calculate the current ratio for each of the following companies. (Round your answers to 2 decimal places.) Current Ratio Edison MAXT Chatter TRU Gleeson Current Assets $ 73,000 97,090 41,172 79,059 56,137 Current Liabilities $ 38,220 92,088 59,058 99,262 121,451 2. Identify the company with the strongest liquidity position. (These companies are competitors in the same industry.) O Edison O MAXT Chatter O TRU Du Most
Cash Accounts receivable Inventory $1,290 3,195 6,200 Prepaid expenses Accounts payable Other current liabilities $ 700...
Cash Accounts receivable Inventory $1,290 3,195 6,200 Prepaid expenses Accounts payable Other current liabilities $ 700 5,600 900 Use the above information on current assets and current liabilities to compute the acid-test ratio. Acid-Test Ratio Choose Denominator: Choose Numerator: Acid-Test Ratio Acid-test ratio 0 to 1
Cash Accounts receivable Inventory $1,420 2,696 5,600 Prepaid expenses Accounts payable Other current liabilities $ 500...
Cash Accounts receivable Inventory $1,420 2,696 5,600 Prepaid expenses Accounts payable Other current liabilities $ 500 4,300 600 Use the above information on current assets and current liabilities to compute the acid-test ratio. Choose Numerator: Acid-Test Ratio Choose Denominator: = Acid-Test Ratio Acid-test ratio to 1 mm
9781259536
QS 1-15 Computing and interpreting return on assets LO A2 In a recent year's financial statements, Home Depot reported the following results. Sales Net income Average total assets $83 billion 6 billion 40 billion Compute Home Depot's return on assets. (Enter the values in billions.) Choose Denominator Choose Numerator Net income Return on Assets Average total assets
Exercise 4-13 Computing the current ratio LO A1 Use the information in the following adjusted trial balance for the Wilson Trucking Company. Credit Debit $ 6,400 16,500 2,000 154,000 $ 31,724 75,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense-Trucks Totals 10,400 3,000 52,000 149,634 19,000 119,500 20, 462 56,046 6,573 10,277...
Exercise 4-14 Computing and analyzing acid-test and current ratios LO A1 Compute the current ratio and acid-test ratio for each of the following separate cases. Torino Camaro GTO $2,850 $1,500 Cash 320 Short-term investments 0 0 400 Current receivables 350 600 500 Inventory Prepaid expenses 2,400 2,200 3,500 400 700 900 $6,000 $3,820 $6,800 Total current assets $2,400 $1,410 $4,000 Current 1iabilities Current Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio Camaro / to 1 GTO to 1 Torino...
Find the current ratio and show the numerator and denominator
in ratio calculation
Assets Cash Accounts Recievable $15,230 6,410 $21,640 Current Assets Land Building Furniture and Fixes Projection Equipment 25,000 34,000 60,000 26,000 2Long-term Assets 3 Total Assets $145,000 $166,640 5 Current Liabilites 6 Accounts Payable 7 Notes Payable 8 Salaries and wages pay 19 20 Total Liabilities 21 22 Owners Equity 23 Common Stock 24 Retained Earnings 25 Total Equity 26 $15,600 20,000 2,000 $37,600 60,000 69,040 129,040 27...
QS 5-14 Computing and analyzing gross margin ratio LO A2 Sales Sales discounts Sales returns and allowances Cost of goods sold $169,000 4,000 15,000 99,150 $930,000 21,500 6,000 557,745 $57,000 600 5,800 38,962 d $276,000 5,300 2,200 129,417 Compute net sales, gross profit, and the gross margin ratio for each separate case a through d. (Round your gross margin ratio to 1 decimal place; I.e.; 0.2367 should be entered as 23.7%.) (b) Net sales Gross profit Gross margin ratio
Exercise 13-3 Computing and interpreting trend percents LO P1 Sales Cost of goods sold Accounts receivable 2019 2018 2017 2016 2015 $ 718,080 $ 478, 720 $ 384,514 $ 275,637 $ 198,300 347,128 231,436 187,867 133,706 95,184 34,827 27,909 26,378 16,097 13,544 Compute trend percents for the above accounts, using 2015 as the base year. Dok Trend Percent for Net Sales: Choose Denominator: Choose Numerator: int Trend percent % 1 1 % int 2019: 2018: 2017: 2016: % % onces...
Exercise 13-3 Computing and interpreting common-size percents LO P1 Sales Cost of goods sold Accounts receivable 2019 2018 2017 2016 2015 $ 716,496 $ 477,664 $ 373, 175 $ 261,877 $ 196,900 353,683 235,605 186,256 129, 920 96,481 34,678 27,896 25,488 15,294 13,468 Compute trend percents for the above accounts, using 2015 as the base year. Trend Percent for Net Sales: Choose Numerator: 6 B O 2 ET . Trend percent . 2019: 2018: 2017: 2016: Trend Percent for Cost...
Exercise 3-14 Computing and analyzing the current ratio LO A2 1. Calculate the current ratio for each of the following companies. (Round your answers to 2 decimal places.) Current Ratio Edison MAXT Chatter TRU Gleeson Current Assets $ 73,000 97,090 41,172 79,059 56,137 Current Liabilities $ 38,220 92,088 59,058 99,262 121,451 2. Identify the company with the strongest liquidity position. (These companies are competitors in the same industry.) O Edison O MAXT Chatter O TRU Du Most
Cash Accounts receivable Inventory $1,290 3,195 6,200 Prepaid expenses Accounts payable Other current liabilities $ 700 5,600 900 Use the above information on current assets and current liabilities to compute the acid-test ratio. Acid-Test Ratio Choose Denominator: Choose Numerator: Acid-Test Ratio Acid-test ratio 0 to 1
Cash Accounts receivable Inventory $1,420 2,696 5,600 Prepaid expenses Accounts payable Other current liabilities $ 500 4,300 600 Use the above information on current assets and current liabilities to compute the acid-test ratio. Choose Numerator: Acid-Test Ratio Choose Denominator: = Acid-Test Ratio Acid-test ratio to 1 mm
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