Homework Answers
Answer
44.
Inventory Turnover Ratio = Cost of Goods Sold / Average Inventory
= $2,452,000 / {($170,000 + 180,000) / 2}
= $2,452,000 / $175,000
Inventory Turnover Ratio = 14.01 times
Selling Period = No. of Days in a year / Inventory Turnover Ratio
= 365 Days / 14.01 Times
= 26.05 Days
Option C is correct
45.
Change in Inventory = {Inventory in (20X2 – 20X1) / Inventory in 20X1} * 100
= {(170,000 – 180,000) / 180,000} * 100
= -5.56%
Decrease in Inventory is 5.56%
Option C is Correct
46.
Change in Advertisement Expense = {Advertisement Expense in (20X2 – 20X1) / Advertisement Expense in 20X1} * 100
= {(22,000 – 17,000) / 17,000} * 100
= 29.41%
Increase in Advertisement Expense is 29.41%
Option C is Correct
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EXHIBIA Sherman, Ins Balance sheet As of December 31, 20X1 and Ox Asses 20X1 Cash Marketable...
What is Sherman, Inc.'s 20X2 times interest earned ratio? a) 22.45 times b) 31.37 times c)...
What is Sherman, Inc.'s 20X2 times interest earned
ratio?
a) 22.45 times
b) 31.37 times
c) 45.90 times
d) 46.00 times
EXHIBIT A Sherman, Inc. Balance Sheet As of December 31, 20X1 and 20X2 Assets 20X1 20x2 Marketable securities Accounts receivable Inventory Total current set $ 23,000 8,000 68.000 180.000 $277.000 $ 49,000 10.000 92.000 170,000 $321.000 Land Buildings Equipment Accumulated depreciation Total fixed assets (her) Total asset $ 50.000 125,000 170.000 $ 90,000 105.000 115,000 42.000 $268.000 $545.000 $276.000...
What is the average number of days that Shermin, Inc., took to collect its receivables in 20X2? a) 10.07 b) 8.23 c)...
What is the average number of days that Shermin, Inc., took to
collect its receivables in 20X2?
a) 10.07
b) 8.23
c) 6.48
d) 54.19
EXHIBIT A Sherman, Inc. Balance Sheet As of December 31, 20X1 and 20X2 Assets 20X1 20X2 $ 49,000 10,000 Current assets Cash Marketable securities Accounts receivable Inventory Total current assets $ 23,000 8,000 66.000 180.000 $277.000 92,000 170,000 $321.000 Noncurrent (fixed) assets Land Buildings Equipment Less: Accumulated depreciation Total fixed assets (net) Total assets $...
For December 31, 20X1. the balance sheet of Baxter Corporation was as follows: Current Assets Cash...
For December 31, 20X1. the balance sheet of Baxter Corporation was as follows: Current Assets Cash Accounts receivable Inventory Prepaid expenses Fixed Assets Gross plant and equipment Less: Accumulated depreciation $ 25,000 33,000 63,000 Liabilities $ 23,000 Accounts payable 28,000 Notes payable 38,000 Bonds payable 13,300 Stockholders' Equity $ 263,000 Preferred stock 52,600 Common stock Paid in Capital $ 210,480 Retained earnings $ 312,700 Total liabilities and stockholders' equity Net plant and equipment Total assets $ 33,000 68,000 38,000 52,700...
PROBLEM VI The following information relates to Aires Corporation for 20x2 and 20x1 Aires Corporation Comparative Balance Sheets December 31, 20x2 and 20x1 s 21,00054, 000 ( 33,000) 421,000 480,00...
PROBLEM VI The following information relates to Aires Corporation for 20x2 and 20x1 Aires Corporation Comparative Balance Sheets December 31, 20x2 and 20x1 s 21,00054, 000 ( 33,000) 421,000 480,000 (59,000) 310,000 340,000 (30,000) 17,000 15, 000 2,000 Assets Cash Accounts receivable (net) Inventory Prepaid expenses Investments Land Building (net) Equipment (net) Total assets 80,000 80,000 350,000 300,000 50,000 680,000 700,000 (20, 000) 520.000 340,000 180,000 $2,399,000 3,09,090,000 Liabilities $ 328,000 $ 335, 000 ( 7,000) Accounts payable Accrued liabilities...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets Liabilities Cash $ 19,000 Accounts payable $ 21,000 Accounts receivable 24,000 Notes payable 29,000 Inventory 34,000 Bonds payable 59,000 Prepaid expenses 12,900 Fixed Assets Stockholders’ Equity Gross plant and equipment $ 259,000 Preferred stock $ 29,000 Less: Accumulated depreciation 51,800 Common stock 64,000 Paid in Capital 34,000 Net plant and equipment $ 207,200 Retained earnings 61,100 Total assets $ 297,100 Total liabilities and stockholders’...
Required 1. For the years 20X2 and 20X1, conduct the DuPont Analysis and calculate the Return...
Required
1. For the years 20X2 and 20X1, conduct the DuPont Analysis and
calculate the
Return of Equity (ROE) for “Megasales Company”. (Please show
the
analytical computations for all components of the DuPont Analysis
for the two
respective years).
2. For the years 20X2 and 20X1, compute the Return of Equity (ROE)
for
“Megasales Company”. Analyze and interpret your results for the two
years
under examination.
3. Describe how each of the three components of the DuPont
Analysis, affects
the...
Required 1. For the years 20X2 and 20X1, conduct the DuPont Analysis and calculate the Return...
Required
1. For the years 20X2 and 20X1, conduct the DuPont Analysis and
calculate the
Return of Equity (ROE) for “Megasales Company”. (Please show
the
analytical computations for all components of the DuPont Analysis
for the two
respective years).
2. For the years 20X2 and 20X1, compute the Return of Equity (ROE)
for
“Megasales Company”. Analyze and interpret your results for the two
years
under examination.
3. Describe how each of the three components of the DuPont
Analysis, affects
the...
Required 1. For the years 20X2 and 20X1, conduct the DuPont Analysis and calculate the Return...
Required
1. For the years 20X2 and 20X1, conduct the DuPont Analysis and
calculate the
Return of Equity (ROE) for “Megasales Company”. (Please show
the
analytical computations for all components of the DuPont Analysis
for the two
respective years).
2. For the years 20X2 and 20X1, compute the Return of Equity (ROE)
for
“Megasales Company”. Analyze and interpret your results for the two
years
under examination.
3. Describe how each of the three components of the DuPont
Analysis, affects
the...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows Current Assets Liabilities...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows Current Assets Liabilities Cash Accounts receivable Inventory Prepaid expenses $ 22,000 30,000 60,000 S 20,000 Accounts payable 25,000 Notes payable 35,000 Bonds payable 13,000 Fixed Assets Stockholders' Equity $ 30,000 65,000 35,000 59,000 $301,000 Gross plant and equipment Less: Accumulated depreciation $ 260,000 Preferred stock 52,000 Common stock SA Paid in Capital $ 208,000Retained earnings Net plant and equipment Total assets 301,000 Total liabilities and stockholders' equity...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: ...
For December 31, 20X1, the balance sheet of Baxter Corporation
was as follows: Current AssetsLiabilitiesCash$13,000Accounts payable$15,000Accounts receivable18,000Notes payable23,000Inventory28,000Bonds payable53,000Prepaid expenses12,300Fixed AssetsStockholders’ EquityGross plant and equipment$253,000Preferred stock$23,000Less: Accumulated depreciation50,600Common stock58,000Paid in Capital28,000Net plant and equipment$202,400Retained earnings73,700Total assets$273,700Total liabilities and stockholders’ equity$273,700Sales for 20X2 were $235,000, and the cost of goods sold was 60
percent of sales. Selling and administrative expense was $23,500.
Depreciation expense was 11 percent of plant and equipment (gross)
at the beginning of the year. Interest expense for the...
What is Sherman, Inc.'s 20X2 times interest earned
ratio?
a) 22.45 times
b) 31.37 times
c) 45.90 times
d) 46.00 times
EXHIBIT A Sherman, Inc. Balance Sheet As of December 31, 20X1 and 20X2 Assets 20X1 20x2 Marketable securities Accounts receivable Inventory Total current set $ 23,000 8,000 68.000 180.000 $277.000 $ 49,000 10.000 92.000 170,000 $321.000 Land Buildings Equipment Accumulated depreciation Total fixed assets (her) Total asset $ 50.000 125,000 170.000 $ 90,000 105.000 115,000 42.000 $268.000 $545.000 $276.000...
What is the average number of days that Shermin, Inc., took to
collect its receivables in 20X2?
a) 10.07
b) 8.23
c) 6.48
d) 54.19
EXHIBIT A Sherman, Inc. Balance Sheet As of December 31, 20X1 and 20X2 Assets 20X1 20X2 $ 49,000 10,000 Current assets Cash Marketable securities Accounts receivable Inventory Total current assets $ 23,000 8,000 66.000 180.000 $277.000 92,000 170,000 $321.000 Noncurrent (fixed) assets Land Buildings Equipment Less: Accumulated depreciation Total fixed assets (net) Total assets $...
For December 31, 20X1. the balance sheet of Baxter Corporation was as follows: Current Assets Cash Accounts receivable Inventory Prepaid expenses Fixed Assets Gross plant and equipment Less: Accumulated depreciation $ 25,000 33,000 63,000 Liabilities $ 23,000 Accounts payable 28,000 Notes payable 38,000 Bonds payable 13,300 Stockholders' Equity $ 263,000 Preferred stock 52,600 Common stock Paid in Capital $ 210,480 Retained earnings $ 312,700 Total liabilities and stockholders' equity Net plant and equipment Total assets $ 33,000 68,000 38,000 52,700...
PROBLEM VI The following information relates to Aires Corporation for 20x2 and 20x1 Aires Corporation Comparative Balance Sheets December 31, 20x2 and 20x1 s 21,00054, 000 ( 33,000) 421,000 480,000 (59,000) 310,000 340,000 (30,000) 17,000 15, 000 2,000 Assets Cash Accounts receivable (net) Inventory Prepaid expenses Investments Land Building (net) Equipment (net) Total assets 80,000 80,000 350,000 300,000 50,000 680,000 700,000 (20, 000) 520.000 340,000 180,000 $2,399,000 3,09,090,000 Liabilities $ 328,000 $ 335, 000 ( 7,000) Accounts payable Accrued liabilities...
Required
1. For the years 20X2 and 20X1, conduct the DuPont Analysis and
calculate the
Return of Equity (ROE) for “Megasales Company”. (Please show
the
analytical computations for all components of the DuPont Analysis
for the two
respective years).
2. For the years 20X2 and 20X1, compute the Return of Equity (ROE)
for
“Megasales Company”. Analyze and interpret your results for the two
years
under examination.
3. Describe how each of the three components of the DuPont
Analysis, affects
the...
Required
1. For the years 20X2 and 20X1, conduct the DuPont Analysis and
calculate the
Return of Equity (ROE) for “Megasales Company”. (Please show
the
analytical computations for all components of the DuPont Analysis
for the two
respective years).
2. For the years 20X2 and 20X1, compute the Return of Equity (ROE)
for
“Megasales Company”. Analyze and interpret your results for the two
years
under examination.
3. Describe how each of the three components of the DuPont
Analysis, affects
the...
Required
1. For the years 20X2 and 20X1, conduct the DuPont Analysis and
calculate the
Return of Equity (ROE) for “Megasales Company”. (Please show
the
analytical computations for all components of the DuPont Analysis
for the two
respective years).
2. For the years 20X2 and 20X1, compute the Return of Equity (ROE)
for
“Megasales Company”. Analyze and interpret your results for the two
years
under examination.
3. Describe how each of the three components of the DuPont
Analysis, affects
the...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows Current Assets Liabilities Cash Accounts receivable Inventory Prepaid expenses $ 22,000 30,000 60,000 S 20,000 Accounts payable 25,000 Notes payable 35,000 Bonds payable 13,000 Fixed Assets Stockholders' Equity $ 30,000 65,000 35,000 59,000 $301,000 Gross plant and equipment Less: Accumulated depreciation $ 260,000 Preferred stock 52,000 Common stock SA Paid in Capital $ 208,000Retained earnings Net plant and equipment Total assets 301,000 Total liabilities and stockholders' equity...
For December 31, 20X1, the balance sheet of Baxter Corporation
was as follows: Current AssetsLiabilitiesCash$13,000Accounts payable$15,000Accounts receivable18,000Notes payable23,000Inventory28,000Bonds payable53,000Prepaid expenses12,300Fixed AssetsStockholders’ EquityGross plant and equipment$253,000Preferred stock$23,000Less: Accumulated depreciation50,600Common stock58,000Paid in Capital28,000Net plant and equipment$202,400Retained earnings73,700Total assets$273,700Total liabilities and stockholders’ equity$273,700Sales for 20X2 were $235,000, and the cost of goods sold was 60
percent of sales. Selling and administrative expense was $23,500.
Depreciation expense was 11 percent of plant and equipment (gross)
at the beginning of the year. Interest expense for the...
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