9 Financial Statement Analysis

Match (by letter) the following items with the description or example that best fits. Each letter is used only once.Terms_____ 1. Vertical analysis._____ 2. Horizontal analysis._____ 3. Liquidity._____ 4. Solvency._____ 5. Discontinued operations._____ 6. Quality of earnings._____ 7. Conservative accounting practices._____ 8. Aggressive accounting practices.Descriptionsa. A company’s ability to pay its current liabilities.b. Accounting choices that result in reporting lower income, lower assets, and higher liabilities.c. Accounting choices that result in reporting higher income, higher assets, and lower liabilities.d. The ability of reported earnings to reflect the company’s true earnings as well as the usefulness of reported earnings to help investors predict future earnings.e. A tool to analyze trends in financial statement data for a single company over time.f. The sale or disposal of a significant component of a company’s operations.g. A means to express each item in a financial…

What is the Days Payables Outstanding? Use the attached financial data to calculate the ratios. Round to the nearest decimal. Abercrombie & Fitch Co (ANF) Financial Data Revenues Cost of Sales Total Operating Expenses Interest Expense Income Tax Expense Diluted Weighted Shares Outstanding Cash + Equivalents Accounts Receivable Inventories Total Current Assets Total Assets Accounts Payable Total Current Liabilities Total Stockholders' Equity ANF Stock Price = $10.30 Select one O A. 42.3 days, 37.0 days OB. 76.1 days, 89.4 days OC. 89.4 days, 37.0 days OD. 76.1 days, 97.7 days 2022 $3,659.3 $1,545.9 $2,026.9 $28.5 $37.8 52.8 $257.3 $108.5 $742.0 $1,220.4 $2,694.0 $322.1 $935.5 $656.1 2021 $3,712.8 $1,400.8 $1,968.9 $34.1 $38.9 62.6 $823.1 $69.1 $525.9 $1,507.8 $2,939.5 $374.8 $1,015.2 $826.1

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Requirement Referring to the qualitative characteristics of accounting information, indicate the fundamental characteristic (relevance or representationally faithful) and its related attribute (confirmatory value, completeness, materiality, neutrality, or predictive value) for each of the following uses of accounting information. Use of Accounting Information This year's reported earnings per share is a. $.50 below analysts' forecasts Potential creditors review a company's long- term liabilities footnote to determine that b. entity's ability to assume additional debt. A corporation discloses both favorable and unfavorable tax settlements. C. A company discloses the write-off of an accounts receivable. The receivable due from a major customer accounts for 35% of the d. company's current assets. A financial analyst computes a company's five-year average cost of goods sold in order e. to forecast next year's profit margin. ***** Fundamental Characteristic Attribute

True or False.

Vertical analysis compares each item on a financial statement with: a corresponding item on a different statement of the same year. B. a total or key amount on the same statement. an industry average. a total or key amount on the financial statement of the previous period.

A. Use the preceding financial statements to complete the following table. Assume that the industry averages given in the table are applicable for both 2002 and 2003. Thank you

General Accounting Question please need help and give correct answer

= 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.…

Financial Statements Analysis and Interpretations Instructions: 1. Using the provided data below, prepare a Statement of Financial Position - Vertical Analysis. 2. Compute for the following financial ratios and provide interpretation for each item. a. Current Ratio b. Working Capital c. Debt-to-Equity Ratio d. Debt Ratio e. Asset Turnover Ratio 3. You may use any desired business name. 4. Use the space provided for your answer. Given: 2017 2016 P 358,950.00 P 184,560.00 P 365,450.00 P 450,355.00 P 252,260.00 P 653,550.00 P 300,000.00 P 600,000.00 P 943,105.00 P 65,000.00 P 277,145.00 P 68,505.00 P 285,000.00 P 235,000.00 P 345,650.00 P 745,000.00 P 150,000.00 P 700,000.00 P 800,000.00 Accounts Payable Accrued Expenses Accounts Receivable Cash Inventory Fixed Assets Marketable Securities Mortgage Payable Owner's Capital Prepaid Insurance 85,000.00

What is the correct date line for a statement of financial position? O from December 31, 2015 O for the year ended December 31, 2015 none of these O for the accounting year ended December 31, 2015 as at December 31, 2015 Question 25 Which of the following statements best describes the limitation of financial ratios. Financial ratios tell where a particular operation is or is not doing well but doesn't report why or how to improve the situation. Financial ratios tell a story and give management options for improving performance. Financial ratios are best used internally and can be misinterpreted when used by lenders or investors. None of these. O Financial ratios are difficult to calculate, change over time, and acceptable levels vary among different industries.

Balance Sheet Prepare a horizontal analysis of the balance sheet for Year 4 and Year 3. Note: Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (1.e., .234 should be entered as 23.4). Assets Current assets Cash Income Statement Marketable securities Accounts receivable (net) Inventories Prepaid Items Total current assets Investments Plant (net) Total long-term assets Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Terlam Notes payable Accounts payable Salaries payable Total current liabilites Noncurrent liabilities Bonds payable Other Total noncurrent liabilities Total abilities Stockholders' equity FRANKLIN COMPANY Horizontal Analysis of Balance Sheets Preferred stock (par value $10, 4% cumulative, nonparticipating: 6,300 shares authorized and issued) EMAIA Common stock (no par; 50,000 shares authorized, 10,000 shares issued) Retained earnings Total stockholders' equity Total habilities & stockholders equity…

Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow.   Current Year Previous Year Accounts payable $41,587 $45,700 Long-term debt 42,401 38,900 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Enter all answers as positive numbers.   Amount of Change Increase/Decrease Percentage Accounts payable $fill in the blank    fill in the blank % Long-term debt $fill in the blank    fill in the blank %

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Prepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).)

Financial Accounting Question please answer