FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- . The Balance Sheets and Profit and Loss accounts of Beximco Pharma Ltd during 1999-2000 are presented below. You are required to compute Current Ratio, Quick Ratio, Gross Profit Margin, Return on Common Equity, Inventory Turnover days, Accounts Receivable collection days, Accounts Payable T/O Days. I Beximco Pharma Ltd. Balance Sheets (In Taka) 1999 Profit & Loss Account Sales (Credit sales) 28,000 Cost of goods sold* 6,900 Gross Profit 11,700 Operating expenses 2,43,000 EBIT 5,00,000 Interest 2,15,000 Earnings before tax 55,000 Tax @ 30% EAIT (Net profit) 10,59,600 No. of shares 2000 1999 2000 Liabilities and Equity Accounts Payable Accrued expenses 7,50,000 9,50,000 23,000 7,100 2,50,000 3,50,000 5,00,000 6,00,000 Short-term bank loan 13,200 2,71,000 50,000 4,50,000 57,000 5,43,000 Debenture Equity Share Capital 5,00,000 65,000 72,000 4,71,000 1,41,000 General Reserves 2,05,000 52,000 3,85,000 Taxation Reserve 1,15,000 2,69,500 50,000 22,100 3,30,700 50,000 20,900 Total 10,71,300 *…arrow_forwardces Bigco Corporation is one of the nation's leading distributors of food and related products to restaurants, universities, hotels, and other customers. A simplified version of its recent income statement contained the following items (in millions). Cost of sales Income taxes Interest expense Net earnings Sales Earnings before income taxes. Selling, general, and administration expense Other revenues Total expenses (excluding income taxes) Total revenues $ 11,671 389 34 1,147 16,270 1,536 3,463 434 BIGCO CORPORATION Income Statement 15,168 16,704 Prepare an income statement for the year ended June 30, current year. (Hint: First order the items as they would appear on the income statement and then confirm the values of the subtotals and totals.) Note: Enter your answers in millions rather than in dollars (for example, 5,000 million should be entered as 5,000 rather than 5,000,000).arrow_forwardThe following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All figures are in millions. Use the information to answer the questions that follow. Toyota Apple Sales ¥29,931,992 $ 277,515 Cost of goods sold 24,582,364 172,559 Accounts receivable 8,715,065 19,120 Inventory 2 ,437,918 7,061 Accounts payable 2,441,380 45,296 Calculate the length of the operating cycle for Toyota and Apple. Calculate the length of the cash conversion cyclearrow_forward
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