Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
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Chapter 17, Problem 4QS
To determine
Calculate the 2016 and 2017 trend percent for net sales using 2016 as the base year
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GIVE THE COMPARATIVE INCOME STATEMENT HORIZONTAL AND VERTICAL ANALYSIS FROM THE FOLLOWING INCOME STATEMENT BELOW
JOLLIBEE INCOME STATEMENT
ITEM
2016
2017
2018
2019
2020
Sales/Revenue
113.81B
133.61B
161.17B
179.63B
129.31B
Sales Growth
-
17.40%
20.62%
11.45%
-28.01%
Cost of Goods Sold (COGS) incl. D&A
-
-
132.96B
150.88B
115.39B
COGS Growth
-
-
-
13.47%
-23.52%
COGS excluding D&A
89.27B
105.39B
121.08B
137.38B
100.82B
Depreciation & Amortization Expense
4B
4.75B
11.89B
13.5B
14.57B
Depreciation
3.93B
4.66B
11.73B
13.34B
14.32B
Amortization of Intangibles
68.99M
78.95M
151.82M
145.42M
245.23M
Gross Income
20.54B
23.48B
28.21B
28.75B
13.92B
Gross Income Growth
-
14.30%
20.12%
1.93%
-51.57%
Gross Profit Margin
-
-
-
-
10.77%
SG&A Expense
-
-
17.64B
20.21B
20.42B
SGA Growth
-
-
-…
GIVE THE COMPARATIVE INCOME STATEMENT HORIZONTAL ANALYSIS FROM THE FOLLOWING INCOME STATEMENT BELOW
JOLLIBEE INCOME STATEMENT
ITEM
2016
2017
2018
2019
2020
Sales/Revenue
113.81B
133.61B
161.17B
179.63B
129.31B
Sales Growth
-
17.40%
20.62%
11.45%
-28.01%
Cost of Goods Sold (COGS) incl. D&A
-
-
132.96B
150.88B
115.39B
COGS Growth
-
-
-
13.47%
-23.52%
COGS excluding D&A
89.27B
105.39B
121.08B
137.38B
100.82B
Depreciation & Amortization Expense
4B
4.75B
11.89B
13.5B
14.57B
Depreciation
3.93B
4.66B
11.73B
13.34B
14.32B
Amortization of Intangibles
68.99M
78.95M
151.82M
145.42M
245.23M
Gross Income
20.54B
23.48B
28.21B
28.75B
13.92B
Gross Income Growth
-
14.30%
20.12%
1.93%
-51.57%
Gross Profit Margin
-
-
-
-
10.77%
SG&A Expense
-
-
17.64B
20.21B
20.42B
SGA Growth
-
-
-
14.57%
1.02%…
GIVE THE COMPARATIVE INCOME STATEMENT VERTICAL ANALYSIS FROM THE FOLLOWING INCOME STATEMENT BELOW
JOLLIBEE INCOME STATEMENT
ITEM
2016
2017
2018
2019
2020
Sales/Revenue
113.81B
133.61B
161.17B
179.63B
129.31B
Sales Growth
-
17.40%
20.62%
11.45%
-28.01%
Cost of Goods Sold (COGS) incl. D&A
-
-
132.96B
150.88B
115.39B
COGS Growth
-
-
-
13.47%
-23.52%
COGS excluding D&A
89.27B
105.39B
121.08B
137.38B
100.82B
Depreciation & Amortization Expense
4B
4.75B
11.89B
13.5B
14.57B
Depreciation
3.93B
4.66B
11.73B
13.34B
14.32B
Amortization of Intangibles
68.99M
78.95M
151.82M
145.42M
245.23M
Gross Income
20.54B
23.48B
28.21B
28.75B
13.92B
Gross Income Growth
-
14.30%
20.12%
1.93%
-51.57%
Gross Profit Margin
-
-
-
-
10.77%
SG&A Expense
-
-
17.64B
20.21B
20.42B
SGA Growth
-
-
-
14.57%
1.02%…
Chapter 17 Solutions
Principles of Financial Accounting.
Ch. 17 - A companys sales in the prior year were 300,000...Ch. 17 - Prob. 2MCQCh. 17 - What is Ella Companys acid-test ratio? a. 2.39 b....Ch. 17 - Prob. 4MCQCh. 17 - What is Ella Companys equity ratio? a. 25.78% b....Ch. 17 - Explain the difference between financial reporting...Ch. 17 - Prob. 2DQCh. 17 - Prob. 3DQCh. 17 - Prob. 4DQCh. 17 - Prob. 5DQ
Ch. 17 - Why is working capital given special attention in...Ch. 17 - What does the number of days sales uncollected...Ch. 17 - Prob. 8DQCh. 17 - Prob. 9DQCh. 17 - Prob. 10DQCh. 17 - Prob. 11DQCh. 17 - Prob. 12DQCh. 17 - Prob. 13DQCh. 17 - Refer to Apples financial statements in Appendix...Ch. 17 - Prob. 15DQCh. 17 - Prob. 16DQCh. 17 - Use Samsungs financial statements in Appendix A to...Ch. 17 - Prob. 1QSCh. 17 - Identify which standard of comparison, (a)...Ch. 17 - Prob. 3QSCh. 17 - Prob. 4QSCh. 17 - Prob. 5QSCh. 17 - Prob. 6QSCh. 17 - Mifflin Co. reported the following for the current...Ch. 17 - Prob. 8QSCh. 17 - Prob. 9QSCh. 17 - Prob. 10QSCh. 17 - Prob. 11QSCh. 17 - Prob. 12QSCh. 17 - Prob. 13QSCh. 17 - Prob. 14QSCh. 17 - Which of the following gains or losses would...Ch. 17 - Building blocks of analysis Match the ratio to the...Ch. 17 - Prob. 2ECh. 17 - Prob. 3ECh. 17 - Prob. 4ECh. 17 - Prob. 5ECh. 17 - Prob. 6ECh. 17 - Refer to Simon Companys balance sheets in Exercise...Ch. 17 - Prob. 8ECh. 17 - Prob. 9ECh. 17 - Prob. 10ECh. 17 - Prob. 11ECh. 17 - Prob. 12ECh. 17 - Prob. 13ECh. 17 - Prob. 14ECh. 17 - Prob. 15ECh. 17 - Prob. 16ECh. 17 - In the current year, Randa Merchandising, Inc.,...Ch. 17 - Use the financial data for Randa Merchandising,...Ch. 17 - Selected comparative financial statements of...Ch. 17 - Selected comparative financial statements of...Ch. 17 - Prob. 3APCh. 17 - Selected current year-end financial statements of...Ch. 17 - Comparative ratio analysis Summary information...Ch. 17 - Selected account balances from the adjusted trial...Ch. 17 - Prob. 1BPCh. 17 - Prob. 2BPCh. 17 - Prob. 3BPCh. 17 - Prob. 4BPCh. 17 - Summary information from the financial statements...Ch. 17 - Prob. 6BPCh. 17 - Prob. 17SPCh. 17 - Use Apples financial statements in Appendix A to...Ch. 17 - Prob. 2AACh. 17 - Prob. 3AACh. 17 - Prob. 1BTNCh. 17 - Prob. 3BTNCh. 17 - Prob. 5BTN
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- Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Sales $ 2,272 $ 1,989 $ 1,810 $ 1,659 $ 1,548 $ 1,440 $ 1,180 Cost of goods sold 1,634 1,329 1,143 1,001 930 870 693 Gross profit 638 660 667 658 618 570 487 Operating expenses 486 380 349 257 223 220 183 Net income $ 152 $ 280 $ 318 $ 401 $ 395 $ 350 $ 304 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Assets Cash $ 85 $ 113 $ 117 $ 120 $ 124 $ 123 $ 127 Accounts receivable, net 613 644 583 447 394 373 263 Merchandise inventory 2,218 1,615 1,411 1,189 1,068 907 658 Other current assets 57 51 32 56 48 48 25 Long-term investments 0 0 0 175 175 175 175 Plant assets, net 2,715 2,704 2,365 1,334 1,379 1,226 1,052 Total assets $ 5,688 $ 5,127 $ 4,508 $ 3,321…arrow_forwardSales Cost of goods sold Accounts receivable 2021 $ 676,574 333,971 32,679 2020 $ 439,334 216,824 25,657 2019 $ 340,569 170,229 23,363 2018 $ 237,330 117,892 13,860 2017 $ 175,800 86,142 12,060 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. 2021: 2020: 2019: 2018: 2017: Trend Percent for Net Sales: Numerator: Denominator: = Trend percent = % Is the trend percent for Net Sales favorable or unfavorable? 2021: 2020: 2019: 2018: 2017: Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent Is the trend percent for Cost of Goods Sold favorable or unfavorable? %arrow_forwardSelected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Sales $ 2,260 $ 1,979 $ 1,801 $ 1,651 $ 1,540 $ 1,432 $ 1,174 Cost of goods sold 1,625 1,322 1,137 995 925 865 689 Gross profit 635 657 664 656 615 567 485 Operating expenses 483 378 347 256 222 219 182 Net income $ 152 $ 279 $ 317 $ 400 $ 393 $ 348 $ 303 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Assets Cash $ 111 $ 147 $ 153 $ 156 $ 162 $ 160 $ 165 Accounts receivable, net 800 840 760 583 514 487 343 Merchandise inventory 2,893 2,106 1,840 1,551 1,393 1,183 858 Other current assets 74 67 41 74 62 63 33 Long-term investments 0 0 0 228 228 228 228 Plant assets, net 3,541 3,527 3,086 1,740 1,799 1,599 1,373 Total assets $ 7,419 $ 6,687 $ 5,880 $ 4,332 $ 4,158 $ 3,720 $ 3,000 Liabilities and…arrow_forward
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