Homework Answers
The Answer is d) 12 %
Calculation:
Horizontal Percentage Change = [$500,000 - $ 446,500] / $ 446,500 * 100 = 11.98 % [Approx 12%]
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c) common size analy d) intracompany analysis. 13. Lovely Things Boutique reported revenue of $500,000 in...
d) intracompany analysis. 13. Lovely Things Boutique reported revenue of $500,000 in 2017 and $446,500 in...
d) intracompany analysis. 13. Lovely Things Boutique reported revenue of $500,000 in 2017 and $446,500 in 2016. The horizontal percentage change from 2016 to 2017 is a) 9% b) 10%. c) 11% d) 12%. d) 6) Companies generally purchase investments in debt and equity securities a) to generate a return on excess cash until needed. b) to generate investment income. c) to meet strategic goals. d) all of the above
7. Earnings per share is calculated a) only for common shares. b) only for preferred shares....
7. Earnings per share is calculated a) only for common shares. b) only for preferred shares. c) for common and preferred shares. d) only for bonds. 13. Lovely Things Boutique reported revenue of $500,000 in 2017 and $446,500 in 2016. The horizontal percentage change from 2016 to 2017 is a) 9%. b) 10%. c) 11% d) 12%
1. All of the following are examples of money-market investments EXCEPT a) money-market funds. b) term...
1. All of the following are examples of money-market investments EXCEPT a) money-market funds. b) term deposits. c) treasury bills. d) shares of a privately held corporation. 2. Under the equity method of accounting for long-term investments in common shares, when a dividend is received from the investee company, a) the Dividend Revenue account is credited. b) the Investment in Associate account is increased. c) the Investment in Associate account is decreased. d) no entry is necessary 3. If a...
26. Another term for vertical analysis is a. common-size analysis. b. liquidity analysis. c. horizontal analysis....
26. Another term for vertical analysis is a. common-size analysis. b. liquidity analysis. c. horizontal analysis. d. leverage analysis. 27. Common-size statements are especially useful in comparing a. a company's performance across time. b. companies of different sizes. c. supplemental information included in the corporate annual report. d. companies of the same size. 28. In preparing a common-size balance sheet, you express all account balances as a percentage of a. total stockholders' equity. b. total liabilities. c. total assets plus...
Exercise 13-18 Common-Size Income Statements and Horizontal Analysis LO2.3 Example 13-2, 13-5 Income statements for Mariners...
Exercise 13-18 Common-Size Income Statements and Horizontal Analysis LO2.3 Example 13-2, 13-5 Income statements for Mariners Corp. for the past two years are as follows: Sales revenue Cost of goods sold Gross profit Selling and administrative expense Operating income Interest expense Income before tax Income tax expense Net income (amounts in thousands of dollars) 2017 2016 $60,000 $50,000 42,000 30,000 $18,000 $20,000 9,000 5,000 $ 9,000 $15,000 2,000 2.000 $ 7,000 $13,000 2,000 4,000 $ 5,000 $ 9,000 Required 1....
Chapter 13: Analysis of Financial Statements In horizontal analysis of an income statement, a company reported...
Chapter 13: Analysis of Financial Statements In horizontal analysis of an income statement, a company reported sales of $50.000 at the end of Year 1 ar $40,000 at the end of Year 2. The percentage change in sales, using Year 1 as the base year, is a A 25% increase B. 25% decrease C. 20% increase D. 20% decrease In vertical analysis of a balance sheet, each asset amount is stated as a percent of A. total liabilities B. total...
Common-Size Income Statements and Horizontal Analysis Income statements for Mariners Corp. for the past two years...
Common-Size Income Statements and Horizontal Analysis Income statements for Mariners Corp. for the past two years are as follows: Sales revenue Cost of goods sold Gross profit Selling and administrative expense Operating income Interest expense Income before tax Income tax expense Net income (amounts in thousands of dollars) 2017 2016 $59,510 $49,980 41,940 30,320 $17,570 $19,660 9,430 4,900 $8,140 $14,760 1,760 1,760 $6,380 $13,000 2,190 4,250 $4,190 $8,750 Required: 1. Using the format in Example 13-5, prepare common-site comparative Income...
Common-Size Balance Sheets and Horizontal Analysis Comparative balance sheets for Farinet Company for the past two...
Common-Size Balance Sheets and Horizontal Analysis Comparative balance sheets for Farinet Company for the past two years are as follows: Cash Accounts receivable Inventory Prepaid rent Total current assets Land Plant and equipment Accumulated depreciation Total long-term assets Total assets Accounts payable Income taxes payable Short-term notes payable Total current liabilities Bonds payable Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity December 31 2017 2016 $16,510 $19,500 40,700 30,470 29,860 49,390 18,300 12,390 $105,370 $111,750 $149,430...
Problem 13-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following information applies...
Problem 13-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales $ 496,208 $ 380,136 $ 263,800 Cost of goods sold 298,717 237,965 168,832 Gross profit 197,491 142,171 94,968 Selling expenses 70,462 52,459 34,822 Administrative expenses 44,659 33,452 21,895 Total expenses 115,121 85,911 56,717...
Exercise 13-6 Common-size percents LO P2 Simon Company’s year-end balance sheets follow. Express the balance sheets...
Exercise 13-6 Common-size percents LO P2 Simon Company’s
year-end balance sheets follow. Express the balance sheets in
common- size percents . Do not round intermediate calculations and
round your final percentage answers to 1 decimal place.)
Check m Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets folow. 16.66 At Decenber 31 2017 2016 2015 points Assets Cash $ 34, 258 105, 431 S 40,870 S 42, 159 71,522 98, 330 10, 945 294, 363 $ 516, 030...
d) intracompany analysis. 13. Lovely Things Boutique reported revenue of $500,000 in 2017 and $446,500 in 2016. The horizontal percentage change from 2016 to 2017 is a) 9% b) 10%. c) 11% d) 12%. d) 6) Companies generally purchase investments in debt and equity securities a) to generate a return on excess cash until needed. b) to generate investment income. c) to meet strategic goals. d) all of the above
7. Earnings per share is calculated a) only for common shares. b) only for preferred shares. c) for common and preferred shares. d) only for bonds. 13. Lovely Things Boutique reported revenue of $500,000 in 2017 and $446,500 in 2016. The horizontal percentage change from 2016 to 2017 is a) 9%. b) 10%. c) 11% d) 12%
1. All of the following are examples of money-market investments EXCEPT a) money-market funds. b) term deposits. c) treasury bills. d) shares of a privately held corporation. 2. Under the equity method of accounting for long-term investments in common shares, when a dividend is received from the investee company, a) the Dividend Revenue account is credited. b) the Investment in Associate account is increased. c) the Investment in Associate account is decreased. d) no entry is necessary 3. If a...
26. Another term for vertical analysis is a. common-size analysis. b. liquidity analysis. c. horizontal analysis. d. leverage analysis. 27. Common-size statements are especially useful in comparing a. a company's performance across time. b. companies of different sizes. c. supplemental information included in the corporate annual report. d. companies of the same size. 28. In preparing a common-size balance sheet, you express all account balances as a percentage of a. total stockholders' equity. b. total liabilities. c. total assets plus...
Exercise 13-18 Common-Size Income Statements and Horizontal Analysis LO2.3 Example 13-2, 13-5 Income statements for Mariners Corp. for the past two years are as follows: Sales revenue Cost of goods sold Gross profit Selling and administrative expense Operating income Interest expense Income before tax Income tax expense Net income (amounts in thousands of dollars) 2017 2016 $60,000 $50,000 42,000 30,000 $18,000 $20,000 9,000 5,000 $ 9,000 $15,000 2,000 2.000 $ 7,000 $13,000 2,000 4,000 $ 5,000 $ 9,000 Required 1....
Chapter 13: Analysis of Financial Statements In horizontal analysis of an income statement, a company reported sales of $50.000 at the end of Year 1 ar $40,000 at the end of Year 2. The percentage change in sales, using Year 1 as the base year, is a A 25% increase B. 25% decrease C. 20% increase D. 20% decrease In vertical analysis of a balance sheet, each asset amount is stated as a percent of A. total liabilities B. total...
Common-Size Income Statements and Horizontal Analysis Income statements for Mariners Corp. for the past two years are as follows: Sales revenue Cost of goods sold Gross profit Selling and administrative expense Operating income Interest expense Income before tax Income tax expense Net income (amounts in thousands of dollars) 2017 2016 $59,510 $49,980 41,940 30,320 $17,570 $19,660 9,430 4,900 $8,140 $14,760 1,760 1,760 $6,380 $13,000 2,190 4,250 $4,190 $8,750 Required: 1. Using the format in Example 13-5, prepare common-site comparative Income...
Common-Size Balance Sheets and Horizontal Analysis Comparative balance sheets for Farinet Company for the past two years are as follows: Cash Accounts receivable Inventory Prepaid rent Total current assets Land Plant and equipment Accumulated depreciation Total long-term assets Total assets Accounts payable Income taxes payable Short-term notes payable Total current liabilities Bonds payable Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity December 31 2017 2016 $16,510 $19,500 40,700 30,470 29,860 49,390 18,300 12,390 $105,370 $111,750 $149,430...
Exercise 13-6 Common-size percents LO P2 Simon Company’s
year-end balance sheets follow. Express the balance sheets in
common- size percents . Do not round intermediate calculations and
round your final percentage answers to 1 decimal place.)
Check m Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets folow. 16.66 At Decenber 31 2017 2016 2015 points Assets Cash $ 34, 258 105, 431 S 40,870 S 42, 159 71,522 98, 330 10, 945 294, 363 $ 516, 030...
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