Homework Help is Here – Start Your Trial Now!
Business
Accounting
2 Ch. 17 - Financial Statement Anal x Bb 2193516 + -> a learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5f7ce11c673e5/2193516?X-Blackboard-Expiration=1648004400000&X-Blackboard-Signature=wLhZZb3V30b7J84. 2 ☆ W WordCounter - Cou. y Yahoo A Regions Bank | Che. welcome, Justin - B. eBooks, Textbooks. Jefferson State Co. O Electronics, Cars, Fa. C Home | Chegg.com = 2193516 1/1 | - 100% + | E O December 31, 2014 and 2013 Dec. 31, 2014 Dec. 31, 2013 Assets Current assets: Cash............... Marketable securities Accounts receivable (net)... Inventories...... 000. Prepaid expenses $ 500,000 1,010,000 740,000 1,190,000 250,000 $3,690,000 2,350,000 3,740,000 $9,780,000 $ 400,000 1,000,000 510,000 950,000 229,000 $3,089,000 Total current assets.. Long-term investments.. Property, plant, and equipment (net). Total assets.. ..... 2,300,000 3,366,000 $8,755,000 Liabilities Current liabilities... $ 900,000 $ 880,000 Long-term liabilities: Mortgage note payable, 8%, due 2019. Bonds payable, 10%, due 2015. Total long-term liabilities Total liabilities............... $ 200,000 1,500,000 $1,700,000 2,600,000 1,500,000 $1,500,000 $2,380,000 Stockholders' Equity $ 500,000 Preferred $0.90 stock, $10 par Common stock, $5 par... Retained earnings........ Total stockholders' equity........ essa Total liabilities and stockholders' equity.. 500,000 6,180,000 $7.180,000 $9,780,000 $ 500,000 500,000 5,375.000 $6,375,000 $8,755,000 000 000.00 Instructions Determine the following measures for 2014, rounding to one decimal place, except per- share amounts which should be rounded to the nearest penny: 1. Working capital 2. Current ratio dmda boni 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables 6. Inventory turnover 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities

2 Ch. 17 - Financial Statement Anal x Bb 2193516 + -> a learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5f7ce11c673e5/2193516?X-Blackboard-Expiration=1648004400000&X-Blackboard-Signature=wLhZZb3V30b7J84. 2 ☆ W WordCounter - Cou. y Yahoo A Regions Bank | Che. welcome, Justin - B. eBooks, Textbooks. Jefferson State Co. O Electronics, Cars, Fa. C Home | Chegg.com = 2193516 1/1 | - 100% + | E O December 31, 2014 and 2013 Dec. 31, 2014 Dec. 31, 2013 Assets Current assets: Cash............... Marketable securities Accounts receivable (net)... Inventories...... 000. Prepaid expenses $ 500,000 1,010,000 740,000 1,190,000 250,000 $3,690,000 2,350,000 3,740,000 $9,780,000 $ 400,000 1,000,000 510,000 950,000 229,000 $3,089,000 Total current assets.. Long-term investments.. Property, plant, and equipment (net). Total assets.. ..... 2,300,000 3,366,000 $8,755,000 Liabilities Current liabilities... $ 900,000 $ 880,000 Long-term liabilities: Mortgage note payable, 8%, due 2019. Bonds payable, 10%, due 2015. Total long-term liabilities Total liabilities............... $ 200,000 1,500,000 $1,700,000 2,600,000 1,500,000 $1,500,000 $2,380,000 Stockholders' Equity $ 500,000 Preferred $0.90 stock, $10 par Common stock, $5 par... Retained earnings........ Total stockholders' equity........ essa Total liabilities and stockholders' equity.. 500,000 6,180,000 $7.180,000 $9,780,000 $ 500,000 500,000 5,375.000 $6,375,000 $8,755,000 000 000.00 Instructions Determine the following measures for 2014, rounding to one decimal place, except per- share amounts which should be rounded to the nearest penny: 1. Working capital 2. Current ratio dmda boni 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables 6. Inventory turnover 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Ch. 17 - Financial Statement Anal x Bb 2193516 + i learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5f7ce11c673e5/2193516?X-Blackboard-Expiration=1648004400000&X-Blackboard-Signature=vwLhZZb3V30b7J84... 2 * O w WordCounter - Co... y! Yahoo A Regions Bank | Che.. Welcome, Justin – B. * eBooks, Textbooks... O Jefferson State Co... Electronics, Cars, Fa... C Home | Chegg.com 2193516 1 / 1 100% + | December 31, 2014 and 2013 Dec. 31, 2014 Dec. 31, 2013 Assets bloe Current assets: Cash. Marketable securities $ 500,000 $ 400,000 1,000,000 1,010,000 Accounts receivable (net)... 740,000 510,000 Inventories 1,190,000 950,000 000. Prepaid expenses. 250,000 229,000 Total current assets. $3,690,000 $3,089,000 Long-term investments... 2,350,000 2,300,000 1 Property, plant, and equipment (net) Total assets 3,740,000 3,366,000 $9,780,000 $8,755,000 Liabilities Current liabilities $ 900,000 $ 880,000 Long-term liabilities: $ 200,000 Mortgage note payable, 8%, due 2019. Bonds payable, 10%, due 2015. Total long-term liabilities $ 1,500,000 1,500,000 $1,700,000 $1,500,000 Total liabilities $2,600,000 $2,380,000 Stockholders' Equity $ 500,000 Preferred $0.90 stock, $10 par. Common stock, $5 par. $ 500,000 Aros 500.000 500,000 000,2E22 Retained earnings. 000,00e 6,180,000 5,375,000 Total stockholders' equity... $7,180,000 $6,375,000 000 Total liabilities and stockholders' equity. $9,780,000 $8,755,000 Instructions Determine the following measures for 2014, rounding to one decimal place, except per- share amounts which should be rounded to the nearest penny: 0002A 0002 1. Working capital stot 2. Current ratio TE 19dmasa aprimss bonistsf 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables 6. Inventory turnover 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 6:42 PM O Type here to search 日 w Rain coming 3/22/2022 *.. ...
Transcribed Image Text:Ch. 17 - Financial Statement Anal x Bb 2193516 + i learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5f7ce11c673e5/2193516?X-Blackboard-Expiration=1648004400000&X-Blackboard-Signature=vwLhZZb3V30b7J84... 2 * O w WordCounter - Co... y! Yahoo A Regions Bank | Che.. Welcome, Justin – B. * eBooks, Textbooks... O Jefferson State Co... Electronics, Cars, Fa... C Home | Chegg.com 2193516 1 / 1 100% + | December 31, 2014 and 2013 Dec. 31, 2014 Dec. 31, 2013 Assets bloe Current assets: Cash. Marketable securities $ 500,000 $ 400,000 1,000,000 1,010,000 Accounts receivable (net)... 740,000 510,000 Inventories 1,190,000 950,000 000. Prepaid expenses. 250,000 229,000 Total current assets. $3,690,000 $3,089,000 Long-term investments... 2,350,000 2,300,000 1 Property, plant, and equipment (net) Total assets 3,740,000 3,366,000 $9,780,000 $8,755,000 Liabilities Current liabilities $ 900,000 $ 880,000 Long-term liabilities: $ 200,000 Mortgage note payable, 8%, due 2019. Bonds payable, 10%, due 2015. Total long-term liabilities $ 1,500,000 1,500,000 $1,700,000 $1,500,000 Total liabilities $2,600,000 $2,380,000 Stockholders' Equity $ 500,000 Preferred $0.90 stock, $10 par. Common stock, $5 par. $ 500,000 Aros 500.000 500,000 000,2E22 Retained earnings. 000,00e 6,180,000 5,375,000 Total stockholders' equity... $7,180,000 $6,375,000 000 Total liabilities and stockholders' equity. $9,780,000 $8,755,000 Instructions Determine the following measures for 2014, rounding to one decimal place, except per- share amounts which should be rounded to the nearest penny: 0002A 0002 1. Working capital stot 2. Current ratio TE 19dmasa aprimss bonistsf 3. Quick ratio 4. Accounts receivable turnover 5. Number of days' sales in receivables 6. Inventory turnover 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 6:42 PM O Type here to search 日 w Rain coming 3/22/2022 *.. ...
Ch. 17 - Financial Statement Anal x Bb 2193516 + i learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5f7ce11c673e5/2193516?X-Blackboard-Expiration=1648004400000&X-Blackboard-Signature=vwLhZZb3V30b7J84... 2 * O w WordCounter - Co... y! Yahoo A Regions Bank | Che.. Welcome, Justin – B. * eBooks, Textbooks... O Jefferson State Co... Electronics, Cars, Fa. C Home | Chegg.com 2193516 1 / 1 100% + | Sales (all on account) $10,050,000 $9,450,000 Sales returns and allowances 50,000 $10,000,000 50,000 Net sales..... $9,400,000 Cost of goods sold. Gross profit .... 5,350,000 4,950,000 $ 4,650,000 $ 2.000,000 $4,450,000 Selling expenses Administrative expenses.. $1,880,000 1,500,000 1,410,000 Total operating expenses Income from operations $ 3,500.000 $ 1,150,000 $3,290,000 $1,160,000 Other income 150,000 140,000 $ 1,300,000 $1,300,000 Other expense (interest) 170,000 $ 1,130,000 1 150,000 Income before income tax $1,150,000 Income tax expense. 230,000 225.000 Net income $ 900,000 $ 925,000 rh lo o is oit biup or bas ote InsD sdi latiq obleno muloo sishqonggs t nilue ori bo Comparative Balance Sheet noviy b od aol oibsen ri vino edimun ba December 31, 2014 and 2013 Stargel Inc. oslg 000.0022 ol no nisg Assets Dec. 31, 2014 Dec. 31, 2013 Current assets: Cash.... $ 500,000 $ 400,000 Marketable securities 1,010,000 1,000,000 Accounts receivable (net). 740,000 510,000 Inventories... 1,190,000 950,000 000. Prepaid expenses.. 229,000 250,000 Total current assets. $3,690,000 $3,089,000 Long-term investments 2,350,000 2,300,000 Property, plant, and equipment (net) Total assets 3,740,000 $9,780,000 3,366,000 $8,755,000 Liabilities zol das b Current liabilities $ 900,000 $ 880,000 Long-term liabilities: Mortgage note payable, 8%, due 2019. $ 200,000 lo sohg lham aTawo Bonds payable, 10%, due 2015. 1,500,000 1,500,000 $1,500,000 $2,380,000 Total long-term liabilities $1,700,000 Total liabilities $2,600,000 Stockholders' Equity Preferred $0.90 stock, $10 par Common stock, $5 par. Retained earnings. Total stockholders' equity. $ 500,000 $ 500,000 Aros 500,000 500,000 000,2E,22 6,180,000 5,375,000 000,00e $7,180,000 $6,375,000 6:41 PM O Type here to search 日 w Rain coming 3/22/2022 *** ...
Transcribed Image Text:Ch. 17 - Financial Statement Anal x Bb 2193516 + i learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5f7ce11c673e5/2193516?X-Blackboard-Expiration=1648004400000&X-Blackboard-Signature=vwLhZZb3V30b7J84... 2 * O w WordCounter - Co... y! Yahoo A Regions Bank | Che.. Welcome, Justin – B. * eBooks, Textbooks... O Jefferson State Co... Electronics, Cars, Fa. C Home | Chegg.com 2193516 1 / 1 100% + | Sales (all on account) $10,050,000 $9,450,000 Sales returns and allowances 50,000 $10,000,000 50,000 Net sales..... $9,400,000 Cost of goods sold. Gross profit .... 5,350,000 4,950,000 $ 4,650,000 $ 2.000,000 $4,450,000 Selling expenses Administrative expenses.. $1,880,000 1,500,000 1,410,000 Total operating expenses Income from operations $ 3,500.000 $ 1,150,000 $3,290,000 $1,160,000 Other income 150,000 140,000 $ 1,300,000 $1,300,000 Other expense (interest) 170,000 $ 1,130,000 1 150,000 Income before income tax $1,150,000 Income tax expense. 230,000 225.000 Net income $ 900,000 $ 925,000 rh lo o is oit biup or bas ote InsD sdi latiq obleno muloo sishqonggs t nilue ori bo Comparative Balance Sheet noviy b od aol oibsen ri vino edimun ba December 31, 2014 and 2013 Stargel Inc. oslg 000.0022 ol no nisg Assets Dec. 31, 2014 Dec. 31, 2013 Current assets: Cash.... $ 500,000 $ 400,000 Marketable securities 1,010,000 1,000,000 Accounts receivable (net). 740,000 510,000 Inventories... 1,190,000 950,000 000. Prepaid expenses.. 229,000 250,000 Total current assets. $3,690,000 $3,089,000 Long-term investments 2,350,000 2,300,000 Property, plant, and equipment (net) Total assets 3,740,000 $9,780,000 3,366,000 $8,755,000 Liabilities zol das b Current liabilities $ 900,000 $ 880,000 Long-term liabilities: Mortgage note payable, 8%, due 2019. $ 200,000 lo sohg lham aTawo Bonds payable, 10%, due 2015. 1,500,000 1,500,000 $1,500,000 $2,380,000 Total long-term liabilities $1,700,000 Total liabilities $2,600,000 Stockholders' Equity Preferred $0.90 stock, $10 par Common stock, $5 par. Retained earnings. Total stockholders' equity. $ 500,000 $ 500,000 Aros 500,000 500,000 000,2E,22 6,180,000 5,375,000 000,00e $7,180,000 $6,375,000 6:41 PM O Type here to search 日 w Rain coming 3/22/2022 *** ...
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS