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Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $15. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Buildings Land Accounts Payable Deferred Revenue Notes Payable (due 2025) Common Stock Retained Earnings $ 1,500,000 150,000 14,700 874,500 422,000 1,200,000 108,000 73,500 60,000 2,500,000 1,419,700 In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The January transactions are shown below: a. Received $50,000 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020. b. Purchased 10 new computer servers for $33,500 on 1/2; paid $10,000 cash and signed a three-year note for the remainder owed. c. Paid $10,000 for an…

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Exercise 17-5 (Algo) Determining income effects from common-size and trend percents LO P1, P2 Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common-Size Percents 1 Year Ago 100.0% 61.2 13.8 Sales Cost of goods sold Operating expenses Current Year 100.0% 63.4 14.3 Change in Net Income Net Income Trend Percents 1 Year Ago 103.4% 109.5 101.2 2 Years Current Ago Year 100.0% 104.6% 57.8 114.7 14.1 106.2 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Did the net income increase, decrease, or remain unchanged in this three-year period? Did the net income increase, decrease, or remain unchanged in this three-year period?

Compute the following ratios: # Metric 1 Current Ratio Formula Meaning Expressed Current Year Numerator Denominator Answer as 1 Year Ago Numerator Denominator Answer Metric Improved / Worsened Ratio:1 Current Assets / Current Measures the short-term Liabilities 2 Quick Ratio (Cash + Short Term 3 Day Sales Outstanding 4 Days in Inventory Investments + Accounts Receivable) / Current Liabilities (Accounts Receivable/ Sales)*365 (Inventory / Cost of goods sold)*365 5 Debt Equity Ratio Total Liabilities / Total Equity debt-paying ability of the company. A higher current ratio suggests a strong ability to meet current obligations. This ratio is like the current ratio but Ratio:1 excludes current assets such as inventories and prepaid expenses that may be difficult to quickly convert into cash Measures how quickly a company collects its accounts receivable. A lower number is better as it converts AR to cash quicker # of days Measure inventory liquidity. A high # of days. number indicates too…

Using your P&L account and Balance sheet above complete the following calculations:   Gross Profit margin Gross Profit Percentage margin Net Profit margin Net Profit Percentage margin Current Ratio Acid Test ROCE   In addition to these calculations, please make analysis and interpretations of the data determined.

Excel Online Structured Activity: Balance Sheet Analysis Consider the following financial data for J. White Industries: Total assets turnover: 1.2Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 27%Total liabilities-to-assets ratio: 45%Quick ratio: 0.90Days sales outstanding (based on 365-day year): 29.5 daysInventory turnover ratio: 4.0 The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below.     Open spreadsheet   Complete the balance sheet and sales information in the table that follows for J. White Industries. Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income StatementInformation Sales $  fill in the blank 2 Cost of goods sold $  fill in the blank 3 Balance Sheet Cash $  fill in the blank 4 Accounts payable $  fill in the blank 5 Accounts receivable $  fill in the blank 6 Long-term debt $…

a. Date formats b. Profit & Loss Standard report c. % of Income d. QuickZoom e. Without Cents f. Divided by 1000 g. Previous Period $ Change h. Previous Period % Change i. To date ________ The end of the reporting period. ________ When selected in the Modify Report window, this check box requires QuickBooks Accountant to report amounts in thousands.  ________ Adds a subcolumn to a Profit & Loss report that calculates the relative percentage change in each item from a previous period.   ________ The beginning of the reporting period.  ________ A financial statement reporting the revenues and expenses of a business for a specific accounting period.  ________ Adds a subcolumn to a Profit & Loss report that calculates the amount of change in each item from a previous period.  ________ A preference option that specifies whether years in date fields are shown as two digits or four digits.  ________ A feature in QuickBooks Accountant that allows you to view the transaction details…

i. Use the information available in Income and Financial position statementin Part A and calculate the following ratios for DavidCompetitors Average• Net profit margin 28%• Gross profit margin 65%• Current ratio 2.10x• Acid test ratio 1.50x• Accounts receivable collection period 47 days• Accounts payable payment period 65 days   Net Profit Margin = Net Income/ Sales = 350/2300 = 15.22% Gross Profit = Sales Revenue + Ending Inventory - Purchases less purchase returns  = 2300 + 250 - 1100 = 1450 Gross Profit Margin = Gross Profit/ Sales = 1450/2300 = 63.04% Current Ratio = Current Assets/ Current Liabilities Current Assets = Cash + Bank + Accounts Receivable + Inventory  = 4050 + 17100 + 400 + 250 = 21800 Current Liabilities = Accounts Payable = 700 Current Ratio = 21800/700 = 31.14:1     please answer this QUESTION :ii. Assuming David’s competitor’s ratio averages are as stated above:Analyse his performance with reference to each of the ratios calculatedin comparison to those of her…

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What company is better in the short term investment

Perform the following: a. horizontal analysis b. vertical analysis c. ratio analysis d. interpret the results

General Accounting Question please need help and give correct answer

Financial Accounting Question

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A-6

explain the image provided the Accounts receivable turn over, days to collect, Inventory turnover,Days to sell, accounts payable turnover,days to pay and give recommendation

View Policies Current Attempt in Progress Assume Sunland Company has the following reported amounts: Sales revenue $1,000,000, Sales returns and allowances $29,000, Cost of goods sold $649.599, and Operating expenses $215,600. (a) Compute net sales. Net sales $ (b) Compute gross profit. Gross profit S (c) Compute income from operations.

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vertical analysis

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Refer to the following selected financial information from WorkFit Corporation. Compute the company's acid-test ratio. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Current liabilities Multiple Choice O O O 2.76. 0.91. 1.10. 2.67. 1.63. $ 42,250 59,180 79,500 115,000 9,700 111,000

Complete the comparative income statement and balance sheet for Logic Company. Note: Input all answers as positive values except decrease answers which should be indicated by a minus sign. Round your "percent" answers to the nearest hundredth percent.

what does the percentages mean in vertical analysis?       Year 4 % of Sales Year 3 % of Sales               Assets             Current Assets           Cash      $          40,000 6.67  $          36,000 6.67 Marketable Securities   20000 3.33 6000 1.11 Accounts Receivable   54000 9.00 46000 8.52 Inventories   135000 22.50 143000 26.48 Prepaid Items   25000 4.17 10000 1.85 Total Assets current   274000 45.67 241000 44.63 Investments   27000 4.50 20000 3.70 plant net     270000 45.00 255000 47.22 Land     29000 4.83 24000 4.44 Total Assets    $        600,000 100.00  $        540,000 100.00                             Liabilities and Stock equity         Liabilities            Current Liabilities           Notes payable    $          17,000 2.83  $            6,000 1.11 Accounts payable   113800 18.97 100000 18.52 salaries payable   21000 3.50 15000 2.78 Total current liabilities   151800 25.30 121000 22.41 Noncurrent liabilities…

#becausesneaker.... HW CH 17 Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales Cost of merchandise sold Selling expenses Administrative expenses Income tax expense Custom Order Sales Cost of merchandise sold Selling expenses a. Prepare an income statement in comparative form, statin each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Administrative expenses Income tax expense $483,000 280,140 82,110 86,940 14,490 Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Amount $483,000 280,140 82,110 86,940 14,490 percentage points, and administrative expenses net income as a percent of sales Current year Percent % % % % % % $420,000 218,400 79,800 71,400 21,000 % % % Previous year Amount $420,000 218,400 79,800 71,400 21,000 Previous year Percent b.…

Find the following using the data bellow  a. Accounts receivable  B. Current assets  C. Total assets  D. Return on assets E. Common equity F. Quick ratio