Inventory Prepaid rent Long-term assets: Investment in bonds. Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current Liabilities: Accounts payable Interest payable Income tax payable Long-term Liabilities: Notes payable Stockholders' equity: Connon stock Retained earnings Total liabilities and stockholders' equity Receivables turnover ratio Inventory turnover ratio Current natio Debt to equity ratio 2024 times times % 2025 138,500 14,900 times times 114,000 12,900 114,000 309,000 309,000 279,000 (121,500) (82,500) $1,066,900 $941,400 $118,200 11,700 12,900 490,000 309,000 125,100 $1,066,900 114,000 219,000 Required: 1. Assuming that all sales were on account, calculate the following risk ratios for 2024 and 2025: (Round your answers to 1 decimal place.) $75,000 7,800 19,500 294,000 309,000 236, 100 $941,400 144,000 7,080 249,000 219,000 (51,000) $790,080 $134,780 3,900 14,900 234,000 309,000 93,500 $790,000
Inventory Prepaid rent Long-term assets: Investment in bonds. Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current Liabilities: Accounts payable Interest payable Income tax payable Long-term Liabilities: Notes payable Stockholders' equity: Connon stock Retained earnings Total liabilities and stockholders' equity Receivables turnover ratio Inventory turnover ratio Current natio Debt to equity ratio 2024 times times % 2025 138,500 14,900 times times 114,000 12,900 114,000 309,000 309,000 279,000 (121,500) (82,500) $1,066,900 $941,400 $118,200 11,700 12,900 490,000 309,000 125,100 $1,066,900 114,000 219,000 Required: 1. Assuming that all sales were on account, calculate the following risk ratios for 2024 and 2025: (Round your answers to 1 decimal place.) $75,000 7,800 19,500 294,000 309,000 236, 100 $941,400 144,000 7,080 249,000 219,000 (51,000) $790,080 $134,780 3,900 14,900 234,000 309,000 93,500 $790,000
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter12: Financial Statements, Closing Entries, And Reversing Entries
Section: Chapter Questions
Problem 3E: Identify each of the following items relating to sections of an income statement as Revenue from...
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