Pritchett Company reported the followtng year-end data: $ 20,100 8, 500 13,400 24,000 6,800 28,000 Cash Short-tere investsents Accounts receivable (current) Inventory Prepaid (current) assets Total current liabilities Compute the (a current ratio and (b acid-test ratio.
Q: Which one of the following statements is NOT true about account receivables? Select one: a. Account…
A: Accounts receivable: if sale is made on cash the supplier immediately collects the cash and no…
Q: influenced by the Congress and the White House, what could be the evidence we can find in the system…
A: The Federal Reserve System (sometimes referred to as the "Fed") is the central bank of the United…
Q: Production and sales estimates for March for the Robin Co. are as follows: Estimated inventery…
A: Solution... Total sales units = 6,500 + 8,300 + 7,900 = 22,700 Ending inventory = 19,100…
Q: What are the total expenses that the tenant reimburses the landlord in an NNN lease if the property…
A: A company's expenses are how it spends before it earns a profit. This is a good indicator to compare…
Q: e business activities
A: The financial statement is the major in accounting.
Q: On December 1, 20Y4, Beta Corporation pays $60,000 for a property and casualty insurance policy that…
A: The question is related to Ratio Analysis. The Current Ratio is calculated with the help of…
Q: The following Income Statement information has been obtained from the books of Unlimited Liquors…
A: The net income is calculated as difference between revenue and expenses of the business.
Q: Statement I: In determining the interest income for the 2nd year of non-interest-bearing notes…
A: Answer:- Interest income definition:- Interest income can be defined as the difference between the…
Q: Which of the following should you be verified with the issuing institution? educational degrees…
A: The question is related to verification by Issuing institutions.
Q: July 1 Iavestment of the owner 3 cash sales 13 loan 15 Collection of accounts 20 Purchase returns 29…
A: Cash Flow Statement is a part of Financial Statements which shows the inflow and outflow of cash…
Q: The unearned rent account has a balance of P36,000. If P4,000 of the P36,000 is unearned at the end…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: 21.Which of the following errors will not cause the debit and credit columns of the trial…
A: The trial balance is prepared to record the final balance of each account of the business as debit…
Q: Benson Airline Company is considering expanding its territory. The company has the opportunity to…
A: Payback period is the time taken by an investment to recover the investment amount paid on an…
Q: safety manager recommends spending $3,000 on an initiative to reduce accidents in an organization.…
A: Concept of Present value of investment ( Cash flow)
Q: urrent Year Previous Year Balance Sheet at December 31 Cash $ 62,600 $ 67,200 Accounts…
A: A cash flow statement is a statement that is prepared at the end of the accounting year after the…
Q: Illustrative Problem 2: Ms. May Putok opened her business, "Putok Accounting Service" in the month…
A: The journal keeps the record for day to day transactions of the business. The ledger accounts are…
Q: K. Corporation A43 in one of products. The company's A Department reports the following costs of…
A: It is a question of decision-making. Relevant costs are to be considered while making the decision.…
Q: Which of the following is not a function of accounting? Interpreting Bookkeeping Budgeting Od…
A: The function of accounting are enumerated as below:
Q: Buchanan Company currently sells 4,000 units of product Q for $1 each. Capacity is 5,000 units.…
A: Increase (decrease) in income on acceptance of order = Net income if order is accepted - Net income…
Q: On October 1, 2020 Sheffield Corp. issued 6%, 10-year bonds with a face value of $8010000 at 104.…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: e. Required: Using the new assumptions described above, complete the following requirements: 1.
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…
Q: What is companies net income? The following information is given to you relating to the operations…
A: Solution:- Preparation of the net income of the company as follows under:-
Q: The following Income Statement information has been obtained from the books of Unlimited Liquors…
A: Earning per share is the amount of earning which is available for equity shareholder's. It is the…
Q: On June 1, 2022 Clyde Co. borrows $86 000 on a nine-month, 6.6% note Interest and principal are to…
A: Interest accrued on year end = Face value of the Notes x rate of interest x no. of months for which…
Q: Bretton Associates, a law firm, had revenue from two sources - $734 000 from fees earned, and $19…
A: The question is related to the Income Statement for the year ended July 31st, 2017.
Q: A company made an additional (incremental) income of $10.000 during the last week of the year. This…
A: Answer:- Effective tax rate:- The effective tax rate can be defined as the percentage of an…
Q: July 1 Investment of the owner 3 cash sales 13 loan 15 Collection of accounts 20 Purchase returns 29…
A: The cash flow from investing activities includes the cash flow due to sale or purchase of non cash…
Q: parasota purchased a new piece of equipment to be used in its new facility. The $416,000 piece of…
A: The question is based on the concept of Financial Accounting. Interest bearing securities come under…
Q: Stuart Rentals can purchase a van that costs $105,000; it has an expected useful life of three years…
A: Payback Period: The payback period is the amount of time it will take for you to recoup the cost of…
Q: On December 1, 2000, Marimar, a lessee paid P 18.000 to XYZ Company representing the rent for 3…
A: Lease is a legal agreement by which a person gives his asset to another person for a specified…
Q: Gold Ltd owns all the shares in Silver Ltd. On 30 June 2020, Silver Ltd has dividend declared of…
A: Dividend is the distribution of profit among the shareholders of the company. It is distributed to…
Q: The exchange of goods or services that results in mutual benefit for both parties involved. O a…
A: Exchange means to give something for something else. All the other terminology is discussed below:
Q: Assuming an annual effective interest rate of 5%. Which of the following annuities with 12 payments…
A: The present value of the annuity is calculated by discounting the future payments at the required…
Q: During 2020, Maria Company purchased trading securities with the following cost and market value on…
A: Given information Security B = 10,000 shares Sold at p150 per share Trading investments are…
Q: David Ltd commences operations on 1 July 2020 On the same date, it purchases a machine at a cost of…
A: Concept of Taxes on Income Calculation of Taxable Income as per Tax Authority Calculation of…
Q: Which of the following performance measures is most closely associated with the Balanced Scorecard's…
A: There are four perspectives on balanced scorecard they are on Financial, customer, business…
Q: 16.0n October 17, Conrad Beauty Supplies bought $42,000 of goods with terms of 1/10, n/30. One-half…
A: Under gross method, sales are recorded at Full value. Under Net method, sales are recorded at…
Q: Use the Stockholders' Equity section of FSB's Balance Sheet to answer the questions below. FSB…
A: Answer 3) Calculation of Average Price per share of Preferred Stock Total Paid-in Capital = (Number…
Q: Jan. 1 Inventory 3,800 units at $41 Apr. 19 Sale 2,600 units June 30 Purchase 4,600 units at $45…
A: solution: Under LIFO method of inventory costing, goods purchased in last is considered as sold…
Q: ary 1, 2020, Levesque Co. purchased 500,000 ordinar at P14 per share, representing a 25% ownership…
A: Introduction: Investment income is described as the amount which a person or institution gains on…
Q: Pretty Pillows, Mfg., manufactures silk throw pillows. Last month the company produced 3,890…
A: Cost of goods manufactured: It means total manufacturing costs, including all direct materials,…
Q: The capital budgeting decision depends in part on the A. availability of funds. B.…
A:
Q: On January 2, 2021, A Corporation offers to sell a P100,000 bond coming due in 10 years. The bond…
A: Answer - The beginning carrying value of the bond is its purchase price of $80K. Calculation of…
Q: Closing journal entries No. Account Titles Debit Credit 101 Cash $10,100 112 Accounts Receivable…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Q.2- Mr. Abdullah's medical and personal expenses include the following: Particulars Prescription…
A: Medical expenses deduction can be claimed for the medical expenses incurred during the period…
Q: 3. Taitung Company adopts the periodie inventory system, and the balance of the items related to the…
A: Closing Entry: At year-end, all expenses and revenue accounts are transferred to Income statements…
Q: Provisions shall be recognized for all of the following, except
A: In Accounting terminology, Provision is something which represents a present liability of an entity…
Q: John Fleming, chief administrator for Valley View Hospital, is concerned about the costs for tests…
A: The question is based on the concept of Cost Accounting.
Q: 1. Provide ALL adjustments by the end of 2017 (all journal entries have to have account numbers). he…
A: Introduction: Journals: Recording of a business transactions in a chronological order. Firsts step…
Q: ame of 50,000 units. Per Unit Total $50 26 Facturing overhead 20 turing overhead $600,000
A: DM $ 50.00 DL $ 26.00 VOHs $ 20.00 Var S&M Exp $ 19.00 Variable…
Trending now
This is a popular solution!
Learn your way
Includes step-by-step video
Step by step
Solved in 3 steps
- a. Compute the current ratio for the current year. (Abbreviations used: STI = Short-term investments. Round your answer to two decimal places, X.XX.) Current ratio More Info a. Current ratio b. Cash ratio c. Acid-test ratio d. Inventory turnover e. Days' sales in inventory f. Days' sales in receivables g. Gross profit percentage Print Done Choose from any list or enter any number in the input fields a Financial Statements Balance Sheet: Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities Income Statement: Net Credit Sales Cost of Goods Sold $ Current Year Preceding Year 15,000 $ 11,000 56,000 64,000 13,000 159,000 132,000 465,000 317,000 29,000 27,000 94,000 82,000 7,000 239,000 89,000Find the following using the data bellow Accounts receivable = 111,100,000 Current assets = 316,500,000 Total assets = 600,000,000 A. Return on assets B. Common equity C .Quick ratio= The current year financial statements for Blue Water Company and Prime Fish Company are presented below. Prime Fish Balance sheet Cash Accounts receivable (net) Inventory Property & equipment (net) Other assets Total assets Current liabilities Long-term debt (interest rate: 15%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity Income statement Sales revenue (1/2 on credit) Cost of goods sold Operating expenses Net income Other data Per share stock price at end of current year Blue Water $ 42,300 44,500 92,500 159,500 85,300 $ 424,100 $ 92,500 74,100 157,100 30,300 70,100 $ 424,100 $ 427,500 (234,500) (163,600) $ 29,400 $ 23.3 45% $ 19,700 34,900 47,800 416,600 318,000 $ 34,300 $ 837,000 $ 68,500 62,600 525,000 107,300 73,600 $ 837,000 $ 789,000 (401,300) (312,300) $ 75,400 $28 45% Average income tax rate Dividends declared and paid in current year Both companies are in the fish catching and manufacturing business.…
- Hello! look at the attached images and answee the following points: (a) Calculate ratios for the year ended 31 December 2021 (showing your workings) for Primrose Plc, equivalent to those provided above. Return on year-end capital employed Net asset turnover Gross profit margin Net profit margin Current ratio Closing inventory holding period Trade receivables’ collection period viii. Trade payables’ payment period Dividend yield Dividend cover (b) Analyse the financial performance and position of Primrose Plc for the year ended 31 December 2021 compared to 31 December 2020. (c) Explain the uses and the general limitations of ratio analysis. Thank you a lot!Using the financial statements in the image, calculate the following ratios for both the FY 2017 and FY 2018: Current Ratio Quick Ratio Total Asset Turnover Average Collection Total Debt to Total Assets Times Interest Earned Net Profit Margin Return on Assets Return on Equity Modified Du Point Equation for FY 2018 PE Ratio Market to Book RatioInstructions Using the financial statements and additional information, compute the following ratios for the El Camino Company for 2021. Show all computations. Computations 1. Current ratio 2. Return on common stockholders' equity 3. Price-earnings ratio 4. Inventory turnover 5. Accounts receivable turnover 6. Times interest earned 7. Profit margin 8. Days in inventory 9. Payout ratio 10. Return on assets
- 17) Based on the balance sheet given for Just Dew It, calculate the following financial ratios for each year: current ratio quick ration cash ratio NWC to total assets ratio debt-equity ratio and equity multiplier Total debt ratio and long-term debt rationa) Based on the information provided, calculate the following ratios for the years ended 31December 2021 and 2020.You should give the formula for each ratio, in addition to your calculation.I. Gross profit marginII. Operating profit marginIII. Return on equityIV. Current ratioV. Gearing b) By comparing the financial information for years ended 31 December 2021 and 2020, andreviewing your ratio calculations, comment on the profitability, liquidity, and long-termsolvency of Mabel’s business over the past year. You should use the other information givento suggest reasons for any changes identified. c)If an investor was interested in buying Mabel’s business and was presented with theseresults, what further advice would you give them?Refer to the following selected financial information from WorkFit Corporation. Compute the company's acid-test ratio. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Current liabilities Multiple Choice O O O 2.76. 0.91. 1.10. 2.67. 1.63. $ 42,250 59,180 79,500 115,000 9,700 111,000
- 1. Compute the following ratios for the comparative periods (2018 and 2019). The company used 365 days in its computation for some of the ratios. Show your solution. a. Working Capital b. Current Ratio c. Acid Test Ratio d. Accounts Receivable Turnover Ratio e. Average Collection Period f. Inventory Turnover Ratio g. Average Days in Inventory h. Number of days in Operating Cycle i. Debt to Total Assets Ratio j. Debt to Equity Ratio k. Times Interest Earned Ratio l. Gross Profit Ratio m. Profit Margin Ratio n. Return on Assets o. Return on Equity p. Assets Turnover RatioSelect the Income Statements and Balance Sheets of Aramco Saudi from the calculate the following financial ratios: a. Long-term debt ratios b. Total debt ratio c. Times interest earned d. Cash coverage ration e. current ratio f. Quick ratio g. Operating profit margin h. Inventory Turnover i. Days in inventory j. Average collection period k. Return on equity I. Return on assets m. Payout rationsRatio Analysis Presented below are summary financial data from Porter's annual report: Amounts in millions Balance Sheet Cash and Cash Equivalents Marketable Securities Accounts Receivable (net) Total Current Assets Total Assets Current Liabilities Long-Term Debt- Shareholders' Equity Income Statement Interest Expense Net Income Before Taxes b. Quick ratio $1,850 19,100 9,367 39,088 123,078 38,450 7,279 68,278 Calculate the following ratios: (Round to 2 decimal points) a. Times-interest-earned ratio c. Current ratio 400 14,007