Survey of Accounting (Accounting I)
8th Edition
ISBN: 9781305961883
Author: Carl Warren
Publisher: Cengage Learning
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Textbook Question
Chapter 1, Problem 1.4.5MBA
Return on assets
The following data (in millions) were adapted from recent financial statements of Tootsie Roll Industries Inc. (TR):
Using your answers to MBA 1-3, compare the markup percentages and return on assets for Hershey and Tootle Roll.
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Balance Sheet
Prepare a vertical analysis of the balance sheets for Year 4 and Year 3.
Note: Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (L.e., .2345 should be entered
as 23.45).
Assats
Current assets
Cash
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Statement
Marketable securities
Accounts receivable (net)
Inventories
Prepaid Items
Total current assets
Investments
Plant (net)
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Total long-term assets
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Liabilities and stockholders' equity
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Notes payable
Accounts payable
Salaries payable
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FANNING COMPANY
Vertical Analysis of Balance Sheeta
Year 4
Total noncurrent liabilales
Total abilities
Stockholders' equity
Preferred stock (par value $10, 4% cumulative,
nonparticipating: 6,600 shares authorized and issued)
Common stock (no par; 50,000 shares authorized;
10,000 shares issued)
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity…
Given the following information pulled from a firm's financial statements, what
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1.04)
Total Liabilities
Sales Revenue
Net Operating
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5,813,082
10,279,452
5,891,671
Current Assets 2,648,145
Total Stockholder
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5,068,098
Use the information in the table below to calculate the following ratios for Windswept Woodworks for year 1 and year 2.
Windswept Woodworks, Incorporated
Input Data
(millions of dollars)
Accounts payable
Accounts receivable
Accumulated depreciation
Cash & equivalents.
Common stock
Cost of goods sold
Depreciation expense
Common stock dividends paid.
Interest expense
Inventory
Addition to retained earnings.
Long-term debt.
Notes payable
Gross plant & equipment
Retained earnings.
Sales
Other current liabilities
Tax rate
Year 2 interest coverage ratio
Year 1 interest coverage ratio
Year 2 ACP
Year 1 ACP
c. Current ratio
Year 2 current ratio
Year 1 current ratio
d. Quick ratio
Year 2
622
1,466
6,932
410
Year 2 quick ratio
Year 1 quick ratio
1,370
1,590
days
days
?
?
230
1,200
602
998
320
10,620
3,248
3,108
Market price per share-year end
Number of shares outstanding
(For all requirements, round your answers to 2 decimal places.)
Required:
a. Interest coverage ratio (Assume that year 1 EBIT…
Chapter 1 Solutions
Survey of Accounting (Accounting I)
Ch. 1 - Prob. 1SEQCh. 1 - The resources owned by a business are called: A....Ch. 1 - A listing of a business entity’s assets,...Ch. 1 - If total assets are $20,000 and total liabilities...Ch. 1 - Prob. 5SEQCh. 1 - Prob. 1CDQCh. 1 - Prob. 2CDQCh. 1 - Prob. 3CDQCh. 1 - Prob. 4CDQCh. 1 - Prob. 5CDQ
Ch. 1 - Prob. 6CDQCh. 1 - Prob. 7CDQCh. 1 - Prob. 8CDQCh. 1 - Prob. 9CDQCh. 1 - Prob. 10CDQCh. 1 - Briefly describe the nature of the information...Ch. 1 - Prob. 12CDQCh. 1 - What particular item of financial or operating...Ch. 1 - Prob. 14CDQCh. 1 - On October 1, Wok Repair Service extended an offer...Ch. 1 - Prob. 16CDQCh. 1 - Prob. 1.1ECh. 1 - Prob. 1.2ECh. 1 - accounting equation The total assets and total...Ch. 1 - accounting equation The total assets and total...Ch. 1 - accounting equation Determine the missing amount...Ch. 1 - accounting equation Determine the missing amounts...Ch. 1 - Net income and dividends The income statement of a...Ch. 1 - Net income and stockholders’ equity for four...Ch. 1 - Accounting equation and Income statement Staples,...Ch. 1 - Prob. 1.10ECh. 1 - Income statement items Based on the data presented...Ch. 1 - Financial statement items Identify each of the...Ch. 1 - Statement of stockholders’ equity Financial...Ch. 1 - Income statement Maynard Services was organized on...Ch. 1 - Prob. 1.15ECh. 1 - Balance sheets, net income Financial information...Ch. 1 - Financial statements Each of the following items...Ch. 1 - Statement of cash flows Indicate whether each of...Ch. 1 - Prob. 1.19ECh. 1 - Statement of cash flows Looney Inc. was organized...Ch. 1 - Prob. 1.21ECh. 1 - Financial statement items Amazon.com, Inc., (AMZN)...Ch. 1 - Income statement Based on the Amazon.com, Inc.,...Ch. 1 - Financial statement items Though the McDonald’s...Ch. 1 - Financial statements Outlaw Realty, organized...Ch. 1 - Accounting concepts Match each of the following...Ch. 1 - Prob. 1.27ECh. 1 - Income statement, retained earnings statement, and...Ch. 1 - Income statement, retained earnings statement, and...Ch. 1 - Income statement, retained earnings statement, and...Ch. 1 - Prob. 1.2.1PCh. 1 - Missing amounts from financial statements Obj.4...Ch. 1 - Income statement, retained earnings statement, and...Ch. 1 - Income statement, retained earnings statement, and...Ch. 1 - Income statement, retained earnings statement, and...Ch. 1 - Statement of cash flows The following cash data...Ch. 1 - Financial statements, including statement of cash...Ch. 1 - Financial statements, including statement of cash...Ch. 1 - Financial statements, including statement of cash...Ch. 1 - Financial statements, including statement of cash...Ch. 1 - Quantitative metrics Interpublic Group of...Ch. 1 - Prob. 1.1.2MBACh. 1 - Quantitative metrics JetBlue Airways Corporation...Ch. 1 - Prob. 1.2.2MBACh. 1 - Return on assets The financial statements of The...Ch. 1 - Prob. 1.3.2MBACh. 1 - Prob. 1.3.3MBACh. 1 - Prob. 1.3.4MBACh. 1 - Return on assets The financial statements of The...Ch. 1 - Return on assets The financial statements of The...Ch. 1 - Return on assets The financial statements of The...Ch. 1 - Return on assets The following data (in millions)...Ch. 1 - Return on assets The following data (in millions)...Ch. 1 - Return on assets The following data (in millions)...Ch. 1 - Prob. 1.4.4MBACh. 1 - Return on assets The following data (in millions)...Ch. 1 - Return on assets Pfizer Inc. (PFE) discovers,...Ch. 1 - Return on assets Pfizer Inc. (PFE) discovers,...Ch. 1 - Prob. 1.5.3MBACh. 1 - Prob. 1.6.1MBACh. 1 - Return on assets ExxonMobil Corporation (XOM)...Ch. 1 - Return on assets ExxonMobil Corporation (XOM)...Ch. 1 - Return on assets Tiffany & Co. (TIF) designs and...Ch. 1 - Return on assets Tiffany & Co. (TIF) designs and...Ch. 1 - Prob. 1.1CCh. 1 - Ethics and professional conduct in business...Ch. 1 - Prob. 1.2.2CCh. 1 - How businesses make money Assume that you are the...Ch. 1 - How businesses make money Assume that you are the...Ch. 1 - How businesses make money Assume that you are the...Ch. 1 - Prob. 1.4CCh. 1 - The accounting equation Review financial...Ch. 1 - Prob. 1.6C
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