apter 13 Homework i3rt 1 of 6ntseBookPrintnReferencesMcGrawHill!Required information[The following information applies to the questions displayed below.]Simon Company's year-end balance sheets follow.At December 31AssetsCashAccounts receivable, netMerchandise inventoryPrepaid expensesPlant assets, netTotal assetsReg 1Liabilities and EquityAccounts payableLong-term notes payableCommon stock, $10 par valueRetained earningsTotal liabilities and equityFor both the current year and one year ago, compute the following ratios:Req 2 and 3AssetsCashAccounts receivable, netMerchandise inventoryComplete this question by entering your answers in the tabs below.SIMON COMPANYCommon-Size Comparative Balance SheetsDecember 31Prepaid expensesPlant assets, netMomTotal assetsLiabilities and EquityAccounts payableLong-term notes payableCommon stock, $10 parRetained earningsTotal liabilities and equityMcGraw-Hill ConnectCurrent YearCurrent Year 1 Year Ago$ 31,56792,389113,90610,066276,621$ 524,5491. Express the balance sheets in common-size percents.2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of totalassets favorable or unfavorable?3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of totalassets favorable or unfavorable?%%$ 128,00097,629162,500136,420$ 524,549%Reg1Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentageanswers to 1 decimal place.)1 Year Ago$ 35,45262,675%86,1669,781258, 123$ 452,197%%$ 76,421107, 125162,500106, 151$ 452,197%2 Years Ago2 Years Ago%$ 36,93749,24952,9804,063229,871$ 373,100Req 2 and 3>$ 48,26480,806162,50081,530$ 373,100< Prev3 435Saved8of 3Part 1 of 6-5pointseBookCPrintReferencesMcGrawHillRequired information[The following information applies to the questions displayed below.]Simon Company's year-end balance sheets follow.At December 31AssetsCashAccounts receivable, netMerchandise inventoryPrepaid expensesPlant assets, netTotal assetsLiabilities and EquityAccounts payableLong-term notes payableCommon stock, $10 par valueRetained earningsTotal liabilities and equityFor both the current year and one year ago, compute the following ratios:Reg 1Current Year 1 Year Ago 2 Years Ago$ 35,45262,675$ 31,56792,389113,90610,066276,62186,1669,781258, 123$452, 197$ 524,549Req 2 and 3Complete this question by entering your answers in the tabs below.$ 128,00097,629162,500136,420$ 524,5491. Express the balance sheets in common-size percents.2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of totalassets favorable or unfavorable?3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of totalassets favorable or unfavorable?$ 76,421107, 125162,500106, 151$ 452,1972. Change in accounts receivable3. Change in merchandise inventory< Req 1$ 36,93749,24952,9804,063229,871$ 373,1002. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage oftotal assets favorable or unfavorable?$ 48,26480,806162,50081,530$ 373,1003. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage oftotal assets favorable or unfavorable?ATShow less A< Prev3O4 5***

1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Complete this question by entering your answers in the

1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Complete this question by entering your answers in the

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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26. Given the following financial data for Alpha Company, calculate the ratios listed below the data. (Compute all ratios and percents to 2 decimal points.) Sales (all on credit) Cost of Goods Sold $650,000 422,500 Income before 78,000 Income Taxes Net Income 54,600 Ending Beginning Balances Balances Cash $19,500 $15,000 Accounts Receivable 65,000 59,800 (net) Merchandise 71,500 66,300 Inventory Plant and Equipment (net) 195,000 183,900 Total Assets $351,000 $325,000 Current $74,100 $100,200 Liabilities Long-Term Notes Payable 97,500 100,000 Stockholders' 179,400 124,800 Equity Total Liabilities and Stockholders' $351,000 $325,000 Equity
A bank that is examining the ratio of annual costs of goods sold to average inventory, is examining which category of ratios? a.Profit measures b.Operating efficiency measures c.Liquidity measures d.Expense control measures
Indicate the effect of the transactions listed in the following table on total current assets, current ration, and net income. Use (+) to indicate an increase, (-) to indicate a decrease, and (0) to indicate either no effect or an indeterminate effect. Be prepared to state any necessary assumptions and assume an initial current ratio of more than 1.0. Merchandise is sold on credit.
Which of the following increases the cash conversion cycle? A.A decrease in inventory turnover B.An increase in the cash discount C.An increase in accounts payable D.A decrease in inventory level
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