Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
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Question
Chapter 8, Problem 3AA
1)
To determine
Computation of cash and cash equivalent as a percentage for both years.
2)
To determine
Computation of percent change of cash and cash equivalents between the current years and prior years.
3)
To determine
Computation of days sales unallocated for current year and previous year.
4)
To determine
If Company SG collection of receivables is showing a favorable or unfavorable change.
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Students have asked these similar questions
ces
Given the following information, complete the balance sheet shown next.
Collection period
Days' sales in cash
Current ratio
Inventory turnover
Liabilities to assets
Payables period
Assets
Current assets:
Cash
Accounts receivable
Inventory
Total current assets
Net fixed assets
Total assets
(All sales are on credit. All calculations assume a 365-day year. The payables period is based on cost of
goods sold.)
Note: Round your answers to the nearest whole dollar.
Liabilities and shareholders' equity
Current liabilities:
71 days
33
days
2.2
times
Accounts payable
Short-term debt
Total current liabilities
Long-term debt
Shareholders' equity
Total liabilities and equity
5
65%
35 days
$
$
1,300,000
2,000,000
7,000,000
Calculate the following financial ratios for Phone Corporation: (Use 365 daysin a year. Do not round intermediate calculations. Round your finalanswers to 2 decimal places.)1. Return on Assets (use average balance sheet figures)2. Return on capital (use average balance sheet figures) %3. Days in inventory (use start of year balance sheet figures) %4. Inventory turnover (use start of year balance sheet figures5. Average collection period (use start of year balance sheet figures)6. Operating profit margin %7. Long term debt ratio (use end of year balance sheet figures)8. Total Debt ratio (use end of year balance sheet figures)
Required:
1. Express all of the asset, liability, and sales data in trend percentages. Use Year 1 as the base year. (Round your percentage answers
to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)
Sales
Current assets:
Cash
Accounts receivable, net
Inventory
Total current assets
Current liabilities
Year 1
%
%
%
%
%
%
Year 2
%
%
%
%
%
%
Year 3
%
%
%
%
%
%
Year 4
%
%
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Year 5
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Chapter 8 Solutions
Principles of Financial Accounting.
Ch. 8 - Prob. 1MCQCh. 8 - Prob. 2MCQCh. 8 - Prob. 3MCQCh. 8 - Prob. 4MCQCh. 8 - Prob. 1DQCh. 8 - Prob. 2DQCh. 8 - Prob. 3DQCh. 8 - Prob. 4DQCh. 8 - Prob. 5DQCh. 8 - Prob. 6DQ
Ch. 8 - Which of the following assetsinventory, building,...Ch. 8 - What is a petty cash receipt? Who should sign it?Ch. 8 - Prob. 9DQCh. 8 - Prob. 10DQCh. 8 - Prob. 11DQCh. 8 - Prob. 12DQCh. 8 - Prob. 13DQCh. 8 - Prob. 1QSCh. 8 - COSO internal control components C1 COSO lists...Ch. 8 - Prob. 3QSCh. 8 - Prob. 4QSCh. 8 - Prob. 5QSCh. 8 - Prob. 6QSCh. 8 - Prob. 7QSCh. 8 - Prob. 8QSCh. 8 - Prob. 9QSCh. 8 - Prob. 10QSCh. 8 - Prob. 11QSCh. 8 - Prob. 1ECh. 8 - Prob. 2ECh. 8 - Prob. 3ECh. 8 - Prob. 4ECh. 8 - Prob. 5ECh. 8 - Prob. 6ECh. 8 - Prob. 7ECh. 8 - Prob. 8ECh. 8 - Prob. 9ECh. 8 - Prob. 10ECh. 8 - Prob. 11ECh. 8 - Prob. 12ECh. 8 - Prob. 13ECh. 8 - Prob. 14ECh. 8 - Prob. 15ECh. 8 - Prob. 16ECh. 8 - Prob. 1APCh. 8 - Prob. 2APCh. 8 - Prob. 3APCh. 8 - Prob. 4APCh. 8 - Prob. 5APCh. 8 - Prob. 1BPCh. 8 - Prob. 2BPCh. 8 - Prob. 3BPCh. 8 - Prob. 4BPCh. 8 - Prob. 8SPCh. 8 - Prob. 1AACh. 8 - Prob. 2AACh. 8 - Prob. 3AACh. 8 - Prob. 1BTNCh. 8 - Prob. 2BTNCh. 8 - Prob. 3BTNCh. 8 - Prob. 4BTNCh. 8 - Review the opening feature of this chapter that...Ch. 8 - Prob. 6BTN
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