Homework Answers
Asset turnover ratio = Net sales / Average total assets
Asset turnover ratio = $418,000 / [($423,000 + $407,000) / 2]
Asset turnover ratio = 1.0
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Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets...
Is it 10.0% Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net)...
Is it 10.0%
Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost of goods sold Net income Dec 31, 2020 $ 30,000 48,000 68,000 210,000 405,000 145,000 260,000 340,000 220,000 20,000 Dec 31, 2021 $ 32,000 52,000 72,000 218,000 395,000 145,000 250,000 400,000 280,000 25,000 Required: Compute the return on equity for 2021. (Round your answer to 1 decimal place, e.g., 0.1234 as 12.3%.)...
Missoula Inc. reported the following selected financial statement data: Dec 31, 2020 Dec 31, 2021 Cash...
Missoula Inc. reported the following selected financial statement data: Dec 31, 2020 Dec 31, 2021 Cash $ 30,000 $ 32,000 Accounts receivable (net) 48,000 52,000 Inventory 68,000 72,000 Plant assets (net) 210,000 218,000 Total assets 405,000 395,000 Liabilities 145,000 145,000 Shareholders' equity 260,000 250,000 Net sales 340,000 400,000 Cost of goods sold 220,000 280,000 Net income 20,000 25,000 Required: Compute the asset turnover ratio for 2021.
Missoula Inc. reported the following selected financial statement data: Dec 31, 2020 Dec 31,...
Missoula Inc. reported the following selected financial statement data: Dec 31, 2020 Dec 31, 2021 Cash $ 30,000 $ 32,000 Accounts receivable (net) 48,000 52,000 Inventory 68,000 72,000 Plant assets (net) 210,000 218,000 Total assets 405,000 395,000 Liabilities 145,000 145,000 Shareholders' equity 260,000 250,000 Net...
Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $ 31,880...
Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $ 31,880 $ 35,580 s 37,286 88,780 61,580 51,800 112,e80 83,60052,809 4,800 10,4ее 9,3ee 278,880 251,eee 228,88 $520,980 $440,980 $373,00 Liabilities and Equity Accounts payable Long-term notes payable secured by $128,800 $ 73,000 $ 5,800 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 98,e80 99,250 81,660 163,580163,580163,5e 77.180 $520,989 $440,989 $ 373,0 13e,600 185,158 The company's income statements for...
WILDHORSE COMPANY Balance Sheets December 31 Assets Cash Debt investments (short-term) Accounts receivable Inventory 2022 2021...
WILDHORSE COMPANY Balance Sheets December 31 Assets Cash Debt investments (short-term) Accounts receivable Inventory 2022 2021 $ 70,000 $68,000 51,000 40,000 109,000 91,000 231,000 167,000 27,000 26,000 134,000 134,000 264,000 186,000 $886,000 $712,000 Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable $171,000 $109,000 Accounts payable 67,000 53,000 Accrued liabilities 41,000 41,000 Bonds payable, due 2025 250,000 170,000 Common stock, $10 par 206,000 151,000 206,000 133,000 Retained earnings Total liabilities and stockholders' equity $886,000...
At December 31, 2021 Assets: Cash Short-term investments Accounts receivable (net) Inventory Property, plant, and equipment...
At December 31, 2021 Assets: Cash Short-term investments Accounts receivable (net) Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity: Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and shareholders' equity $ 220 550 650 800 1,150 $ 3,370 $ 800 950 500 1,120 $ 3,370 Selected 2021 income statement information for Altoid Co. includes: Net Sales Operating expenses Income before interest and tax Interest expense Income tax expense Net income $ 8,400 7,350 1,050...
Comparative financial statement data of Manfield, Inc. follow: Comparative financial statement data of Manfield, Inc. follow:...
Comparative financial statement data of Manfield, Inc.
follow:
Comparative financial statement data of Manfield, Inc. follow: 囲(Click the icon to view the income statement.) EEE (Click the icon to view the balance sheet.) 1 (Click the icon to view the additional financial information.) Read the requirements Requirement 1a. Compute the current ratios for 2018 and 2017. Begin by selecting the formula to compute the current ratio Current ratio = Manfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and...
US Republic Corporation balance sheet, December 31, 20X3 ASSETS Cash Accounts receivable Inventory Fixed assets, net...
US Republic Corporation balance sheet, December 31, 20X3 ASSETS Cash Accounts receivable Inventory Fixed assets, net Total assets LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,000,000 5,000,000 7,000,000 17,000,000 $30,000,000 Notes payable, bank Accounts payable Accrued wages and taxes Long-term debt Preferred stock Common stock Retained earnings Total liabilities and shareholders’ equity $ 4,000,000 2,000,000 2,000,000 12,000,000 4,000,000 2,000,000 4,000,000 $30,000,000 $16,000,000 4,000,000 $20,000,000 $16,800,000 $ 3,200,000 1,200,000 $ 2,000,000 240,000 $ 1,760,000 2,600,000 $ 4,360,000 360,000 $ 4,000,000 INDUSTRY NORMS 225%...
RIVERBED CORPORATION Balance Sheets December 31 2022 2021 Cash $ 33,000 $23,000 Accounts receivable (net) 53,000...
RIVERBED CORPORATION Balance Sheets December 31 2022 2021 Cash $ 33,000 $23,000 Accounts receivable (net) 53,000 48,000 Other current assets 95,000 100,000 Investments 60,000 75,000 Plant and equipment (net) - 500,000 370,000 $741,000 $616,000 Current liabilities $ 88,000 $ 83,000 Long-term debt 150,000 90,000 Common stock, $10 par 325,000 315,000 Retained earnings 178,000 128,000 $741,000 $616,000 2020 $ 21,000 51,000 69,000 50,000 358,000 $549,000 $ 73,000 55,000 305,000 116,000 $549,000 RIVERBED CORPORATION Income Statements For the Years Ended December 31...
View Policies Current Attempt in Progress Selected hypothetical comparative statement data for the giant bookseller Barnes...
View Policies Current Attempt in Progress Selected hypothetical comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). 2022 $4.950.2 3,700.7 65.1 Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2021 $5,600.7 3,100.0 130.3 102.2 1.350.1 3.250.1 1.100.5 65.0 1,250.1 2.850.0 960.8 Compute the following ratios for 2022. (Round asset turnover to 2...
Is it 10.0%
Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost of goods sold Net income Dec 31, 2020 $ 30,000 48,000 68,000 210,000 405,000 145,000 260,000 340,000 220,000 20,000 Dec 31, 2021 $ 32,000 52,000 72,000 218,000 395,000 145,000 250,000 400,000 280,000 25,000 Required: Compute the return on equity for 2021. (Round your answer to 1 decimal place, e.g., 0.1234 as 12.3%.)...
Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $ 31,880 $ 35,580 s 37,286 88,780 61,580 51,800 112,e80 83,60052,809 4,800 10,4ее 9,3ee 278,880 251,eee 228,88 $520,980 $440,980 $373,00 Liabilities and Equity Accounts payable Long-term notes payable secured by $128,800 $ 73,000 $ 5,800 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 98,e80 99,250 81,660 163,580163,580163,5e 77.180 $520,989 $440,989 $ 373,0 13e,600 185,158 The company's income statements for...
WILDHORSE COMPANY Balance Sheets December 31 Assets Cash Debt investments (short-term) Accounts receivable Inventory 2022 2021 $ 70,000 $68,000 51,000 40,000 109,000 91,000 231,000 167,000 27,000 26,000 134,000 134,000 264,000 186,000 $886,000 $712,000 Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable $171,000 $109,000 Accounts payable 67,000 53,000 Accrued liabilities 41,000 41,000 Bonds payable, due 2025 250,000 170,000 Common stock, $10 par 206,000 151,000 206,000 133,000 Retained earnings Total liabilities and stockholders' equity $886,000...
At December 31, 2021 Assets: Cash Short-term investments Accounts receivable (net) Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity: Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and shareholders' equity $ 220 550 650 800 1,150 $ 3,370 $ 800 950 500 1,120 $ 3,370 Selected 2021 income statement information for Altoid Co. includes: Net Sales Operating expenses Income before interest and tax Interest expense Income tax expense Net income $ 8,400 7,350 1,050...
Comparative financial statement data of Manfield, Inc.
follow:
Comparative financial statement data of Manfield, Inc. follow: 囲(Click the icon to view the income statement.) EEE (Click the icon to view the balance sheet.) 1 (Click the icon to view the additional financial information.) Read the requirements Requirement 1a. Compute the current ratios for 2018 and 2017. Begin by selecting the formula to compute the current ratio Current ratio = Manfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and...
RIVERBED CORPORATION Balance Sheets December 31 2022 2021 Cash $ 33,000 $23,000 Accounts receivable (net) 53,000 48,000 Other current assets 95,000 100,000 Investments 60,000 75,000 Plant and equipment (net) - 500,000 370,000 $741,000 $616,000 Current liabilities $ 88,000 $ 83,000 Long-term debt 150,000 90,000 Common stock, $10 par 325,000 315,000 Retained earnings 178,000 128,000 $741,000 $616,000 2020 $ 21,000 51,000 69,000 50,000 358,000 $549,000 $ 73,000 55,000 305,000 116,000 $549,000 RIVERBED CORPORATION Income Statements For the Years Ended December 31...
View Policies Current Attempt in Progress Selected hypothetical comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). 2022 $4.950.2 3,700.7 65.1 Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2021 $5,600.7 3,100.0 130.3 102.2 1.350.1 3.250.1 1.100.5 65.0 1,250.1 2.850.0 960.8 Compute the following ratios for 2022. (Round asset turnover to 2...
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