Gen Combo Looseleaf Intermediate Accounting; Connect Access Card
10th Edition
ISBN: 9781260696325
Author: David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher: McGraw-Hill Education
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What is the comparative statement of financial condition for 2019 and 2020 showing peso and percentage for each item (horizontal analysis)?
Calculate:Â
a. Average Receivable days/ Debtors collection periodb. Average Payable days/ Creditors collection period
PLASMA SCREENS CORPORATION
Balance Sheets
December 31, 2021 and 2020
2021
2020
Assets
Current assets:
Cash
Accounts receivable
Inventory
Investments
$242,000
98,000
105,000
5,000
$ 130,000
102,000
90,000
3,000
Long-term assets:
Land
Equipment
Less: Accumulated depreciation
580,000
890,000
(528,000)
$1,392,000
580,000
770,000
(368,000)
$1,307,000
Total assets
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
Interest payab le
Income tax payable
Long-term liabilities:
Notes payable
Stockholders' equity:
Common stock
Retained earnings
$ 109,000
7,000
9,000
95,000
13,000
6,000
2$
110,000
220,000
800,000
357,000
$1,392,000 $1,307,000
800,000
173,000
Total liabilities and stockholders' equity
Additional information for 2021:
1. Net income is $184,000.
2. Sales on account are $1,890,000.
3. Cost of goods sold is $1,394,250.
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Similar questions
- Calculate the 2019 debt ratio, liabilities-to-assets ratio, times-interest-earned ratio, and EBITDA coverage ratios. How does Computron compare with the industry with respect to financial leverage? What can you conclude from these ratios?arrow_forwardCompute the following ratiosat December 31, 2019: i.Current ratio ii.Acid-test Ratio iii.Account Receivables Turnover iv.Average collection period v.Inventory Turnover vi.Days in inventory vii.Profit margin viii.Debts to Asset ratio ix.Return on Assets x.Times Interest Earnedarrow_forwardGive a numerical example of: Current liabilities. Long-term liabilitiesarrow_forward
- What are the Profitability Ratios for the periods 2019,2020 and 2021? What is it's Financial Performance and Financial Position? Images Attachedarrow_forwardWhat is the rela1ionship between Annual Percentage Rate and the interest period?arrow_forwardCalculate and Analyze the following for the year 2019, 2020 and 2021: liquidity working capital acid test ratioarrow_forward
- Calculate the following profitability ratios for 2018 and 2019. a. Gross profit ratio b. Return on assets c. Profit margin d. assets turnoverarrow_forwardCalculate: (iv) Average Receivable days/ Debtors collection period(v) Average Payable days/ Creditors collection periodarrow_forwardWHAT IS THE TOTAL LIABILITIES AND EQUITY 2021?arrow_forward
- Use the information provided (first picture) to calculate the debtor collection period & creditor payment period ratios for 2021 and put your answer in the template provided (second picture)arrow_forwardCalculate: ROCE Net profit margin and Average payable days for 2018 and 2019arrow_forwardmake a comparative analysis (between year 2019 and 2020) and find current ratio, acid test ratio and debt ratio.arrow_forward
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