Homework Answers
ANSWER 1
| DETAILS | CURRENT YR | 1 YEAR AGO | 2 YEAR AGO |
| AMOUNT | % | AMOUNT | % | AMOUNT | % | |
| ASSET | ||||||
| CASH | 31800 | 6.1% | 35625 | 8% | 37800 | 10% |
| ACCOUNT RECEVIABLE,NET | 89500 | 17.1% | 62500 | 14.1% | 50200 | 13.3% |
| MERCHANDISE INVENTORY | 112500 | 21.5% | 82500 | 18.5% | 54000 | 14.3% |
| PREPAID EXPENSES | 10700 | 2.1% | 9375 | 2.1% | 5000 | 1.3% |
| PLANT ASSETS,NET | 278500 | 53.2% | 255000 | 57.3% | 230500 | 61.1% |
| TOTAL | 523000 | 100% | 445000 | 100% | 377500 | 100% |
| LIABILITIES AND EQUITY | ||||||
| ACCOUNT PAYABLE | 129900 | 24.8% | 75250 | 16.9% | 51250 | 13.6% |
| LONG TERM NOTES | 98500 | 18.8% | 101500 | 22.8% | 83500 | 22.1% |
| COMMON STOCK | 163500 | 31.3% | 163500 | 36.7% | 163500 | 43.3% |
| RETAINED EARNINGS | 131100 | 25.1% | 104750 | 23.6% | 79250 | 21% |
| TOTAL | 523000 | 100% | 445000 | 100% | 377500 | 100% |
ANSWER 2
UNFAVOURABLE, AS WE CAN SEE IN COMMON SIZE BALANCE SHEET THAT OUR ACCOUNT RECEIVABLE IS INCREASING WHICH IS BAD THAT THERE IS MORE MONEY STUCK IN MARKET.
ANSWER 3
UNFAVOURABLE,AS WE CANS SEE IN COMMON SIZE BALANCE SHEET THAT OUR INVENTORY HOLDING IS BEING MORE WHICH MEANS THAT THERE IS LESS SALES AS COMPARED TO TOTAL ASSET OF THE YEAR.
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exercise 13-6 ammon-size percents Simon Company's year-end balance sheets follow. (1) Express the balance sheets in...
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lysis of Financial State At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash... Accounts receivable, net. Merchandise inventory...... Prepaid expenses.. Plant assets, net.... Total assets... $ 31,800 89,500 112,500 10,700 278,500 $523,000 $ 35,625 62,500 82,500 9,375 255,000 $445,000 $ 37,800 50,200 54,000 5,000 230,500 $377,500 $129,900 $ 75,250 $ 51,250 Liabilities and Equity Accounts payable ...... Long-term notes payable second mortgages on plant asset Common stock, $10 par value Retained earnings..... Total liabilities and equity........
Please help with the acid test ratio as well as the formula Simon Company's year-end balance...
Please help with the acid test
ratio as well as the formula
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800...
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At December 31 2015 2014 2013 Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise Inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock, $10 par value 163,500 163,500 163,500 Retained earnings 131,100 104,750 79,250...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,800 $ 35...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock, $10 par value 163,500 163,500...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock,...
[The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets follow. At...
[The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500...
Need help solving the acid-test ratio. Current Yr 1 Yr Ago 2 Yrs Ago At December...
Need help solving the acid-test ratio.
Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230,500 $ 445,000 $ 377,500...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock,...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock,...
Simon Company's year end balance sheets follows. 1. Express the balance sheets in common size percent's....
Simon Company's year end balance sheets follows. 1. Express the
balance sheets in common size percent's. Round percent's to one
decimal. 2. Assuming annual sales have not changed in the last
three years, is the change in accounts receivable as a percentage
of total assets favorable or unfavorable? 3. Is the change in
merchandise inventory as a percentage of total assets favorable or
unfavorable?
Simon Company's year-end balance sheets follow 2016 $ 37.00 At December 31 Assets Cash Accounts receivable,...
lysis of Financial State At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash... Accounts receivable, net. Merchandise inventory...... Prepaid expenses.. Plant assets, net.... Total assets... $ 31,800 89,500 112,500 10,700 278,500 $523,000 $ 35,625 62,500 82,500 9,375 255,000 $445,000 $ 37,800 50,200 54,000 5,000 230,500 $377,500 $129,900 $ 75,250 $ 51,250 Liabilities and Equity Accounts payable ...... Long-term notes payable second mortgages on plant asset Common stock, $10 par value Retained earnings..... Total liabilities and equity........
Please help with the acid test
ratio as well as the formula
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800...
Need help solving the acid-test ratio.
Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230,500 $ 445,000 $ 377,500...
Simon Company's year end balance sheets follows. 1. Express the
balance sheets in common size percent's. Round percent's to one
decimal. 2. Assuming annual sales have not changed in the last
three years, is the change in accounts receivable as a percentage
of total assets favorable or unfavorable? 3. Is the change in
merchandise inventory as a percentage of total assets favorable or
unfavorable?
Simon Company's year-end balance sheets follow 2016 $ 37.00 At December 31 Assets Cash Accounts receivable,...
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