13 Ex 13-6 i 1 lih - Edut... Saved Help Save & Exit Submit Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Check my work At December 31 Assets Cash Current Year 1 Year Ago 2 Years Ago $ 27,587 Accounts receivable, net Merchandise inventory Prepaid expenses 79,955 $ 32,569 55,867 97,512 Plant assets, net 8,617 253,902 Total assets $ 467,573 $ 403,080 Liabilities and Equity Accounts payable $ 117,590 Long-term notes payable Common stock, $10 par value Retained earnings 88,783 163,500 97,700 $ 68,802 92,708 163,500 78,070 73,078 8,295 233,271 $ 32,922 | 43,009 46,744 3,732 209,493 $ 335,900 $ 43,452 75,719 163,500 53,229 Total liabilities and equity $ 467,573 $ 403,080 $ 335,900 For both the current year and one year ago, compute the following ratios: cise 13-6 (Algo) Common-size percents LO P2 Express the balance sheets in common-size percents. 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? 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? plete this question by entering your answers in the tabs below. 13 Ex 13-6 i 1 lih - Edut... Saved Help Save & Exit Submit Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Check my work At December 31 Assets Cash Current Year 1 Year Ago 2 Years Ago $ 27,587 Accounts receivable, net Merchandise inventory Prepaid expenses 79,955 $ 32,569 55,867 97,512 Plant assets, net 8,617 253,902 Total assets $ 467,573 $ 403,080 Liabilities and Equity Accounts payable $ 117,590 Long-term notes payable Common stock, $10 par value Retained earnings 88,783 163,500 97,700 $ 68,802 92,708 163,500 78,070 73,078 8,295 233,271 $ 32,922 | 43,009 46,744 3,732 209,493 $ 335,900 $ 43,452 75,719 163,500 53,229 Total liabilities and equity $ 467,573 $ 403,080 $ 335,900 For both the current year and one year ago, compute the following ratios: cise 13-6 (Algo) Common-size percents LO P2 Express the balance sheets in common-size percents. 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? 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? plete this question by entering your answers in the tabs below.

13 Ex 13-6 i 1 lih - Edut... Saved Help Save & Exit Submit Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Check my work At December 31 Assets Cash Current Year 1 Year Ago 2 Years Ago $ 27,587 Accounts receivable, net Merchandise inventory Prepaid expenses 79,955 $ 32,569 55,867 97,512 Plant assets, net 8,617 253,902 Total assets $ 467,573 $ 403,080 Liabilities and Equity Accounts payable $ 117,590 Long-term notes payable Common stock, $10 par value Retained earnings 88,783 163,500 97,700 $ 68,802 92,708 163,500 78,070 73,078 8,295 233,271 $ 32,922 | 43,009 46,744 3,732 209,493 $ 335,900 $ 43,452 75,719 163,500 53,229 Total liabilities and equity $ 467,573 $ 403,080 $ 335,900 For both the current year and one year ago, compute the following ratios: cise 13-6 (Algo) Common-size percents LO P2 Express the balance sheets in common-size percents. 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? 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? plete this question by entering your answers in the tabs below. 13 Ex 13-6 i 1 lih - Edut... Saved Help Save & Exit Submit Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Check my work At December 31 Assets Cash Current Year 1 Year Ago 2 Years Ago $ 27,587 Accounts receivable, net Merchandise inventory Prepaid expenses 79,955 $ 32,569 55,867 97,512 Plant assets, net 8,617 253,902 Total assets $ 467,573 $ 403,080 Liabilities and Equity Accounts payable $ 117,590 Long-term notes payable Common stock, $10 par value Retained earnings 88,783 163,500 97,700 $ 68,802 92,708 163,500 78,070 73,078 8,295 233,271 $ 32,922 | 43,009 46,744 3,732 209,493 $ 335,900 $ 43,452 75,719 163,500 53,229 Total liabilities and equity $ 467,573 $ 403,080 $ 335,900 For both the current year and one year ago, compute the following ratios: cise 13-6 (Algo) Common-size percents LO P2 Express the balance sheets in common-size percents. 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? 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? plete this question by entering your answers in the tabs below.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 9RE: Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for...

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