5 Budgetary Control and Responsibility Accounting The data for Cheyenne Corporation is given below. (Current Assets Long-term Assets Total Assets Sales Operating Expenses $ $ 1/1/2022 400,000 $ 3,000,000 $ 3,400,000 $ Year Ended 12/31/22 $ 1,000,000 $ 560,000 - 1360000 Instructions Compute the return on investment for the company for 2022. 12/31/2022 800,00000,000 3,800,000 4,600,000 MergM X Turnover

5 Budgetary Control and Responsibility Accounting The data for Cheyenne Corporation is given below. (Current Assets Long-term Assets Total Assets Sales Operating Expenses $ $ 1/1/2022 400,000 $ 3,000,000 $ 3,400,000 $ Year Ended 12/31/22 $ 1,000,000 $ 560,000 - 1360000 Instructions Compute the return on investment for the company for 2022. 12/31/2022 800,00000,000 3,800,000 4,600,000 MergM X Turnover

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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Required information Skip to question [The following information applies to the questions displayed below.] Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company’s balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash $ 76,000 Accounts receivable 137,000 Inventory 86,100 Plant and equipment, net of depreciation 230,000 Total assets $ 529,100 Liabilities and Stockholders’ Equity Accounts payable $91,000 Common stock 312,000 Retained earnings 126,100 Total liabilities and stockholders’ equity $ 529,100 Beech’s managers have made the following additional assumptions and estimates: Estimated sales for July, August, September, and October will be $410,000, $430,000, $420,000, and $440,000, respectively. All sales are on credit and all credit sales are collected. Each month’s credit sales are collected 35% in the…
Video Excel Online Structured Activity: Capital budgeting criteria A company has a 13% WACC and is considering two mutually exclusive investments (that cannot be repeated) with the following cash flows: 0 1 2 3 4 5 6 7 + Project A -$300 -$387 Project B -$405 $133 -$193 -$100 $133 $133 $600 $133 $600 $133 $850 -$180 $133 $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. X Open spreadsheet a. What is each project's NPV? Round your answer to the nearest cent. Do not round your intermediate calculations. Project A: $ 162.48 Project B: $ b. What is each project's IRR? Round your answer to two decimal places. Project A: 18.10 % Project B: %
Knowledge Check 01 For the budget period ending December 31 of the current year, Aaron Corporation estimates its ending balances for cash as $4,000, accounts receivable as $16,000, finished goods Inventory as $12,000, and raw materials Inventory as $8,000. Invoices relating to raw materials in the amount of $14,000 are expected to be unpaid as of December 31. What is the amount of total current assets that will be reported on the budgeted balance sheet? O $20,000 O $26.000 O $32,000 O $40,000
Problem 15-3 Additional Funds Needed (LG15-4) Suppose that Gyp Sum Industries currently has the balance sheet shown below, and that sales for the year just ended were $9.5 million. The firm also has a profit margin of 25 percent and a retention ratio of 30 percent, and expects sales of $7.5 million next year. Assets Current assets Fixed assets Total assets Additional funds needed Liabilities and Equity $ 725,000 Current liabilities 4,500,000 Long-term debt Equity Total liabilities and equity $5,225,000 $ 5,225,000 $ 1,045,000 1,750,000 2,430,000 If all assets and current liabilities are expected to shrink with sales, what amount of additional funds will Gyp Sum need from external sources to fund the expected growth? Note: Enter your answer in dollars not in millions. Negative amount should be indicated by a minus sign.
Domino Consulting, budgeted overhead and other expenses as follows for the year ended December 31, 2023: Overhead: Rent $ 25,000 Repairs 10,000 Fuel 35,000 Maintenance 15,750 Supplies 6,100 Heat and light 20,250 Depreciation-computer 9,400 Miscellaneous 6,000 Depreciation-building 18,000 Depreciation-equipment…
Minden Company Balance Sheet April 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Note payable Common stock Retained earnings Total liabilities and stockholders' equity $ 12,700 66,500 48,500 229,000 $ 356,700 $ 67,500 19,100 180,000 90,100 $ 356,700 The company is in the process of preparing a budget for May and has assembled the following data: a. Sales are budgeted at $262,000 for May. Of these sales, $78,600 will be for cash; the remainder will be credit sales. One-half of a month's credit sales are collected in the month the sales are made, and the remainder is collected in the following month. All of the April 30 accounts receivable will be collected in May. b. Purchases of inventory are expected to total $196,000 during May. These purchases will all be on account. Forty percent of all purchases are paid for in the month of purchase; the remainder are paid in the…
The Fountain Corporation data for the current year and prior year is as follows: Current year Prior year $76,200 $60,000 $59,400 $51,200 $82,500 $38,000 $47,880 $18,420 $618,000 $478,140 $139,860 $47,860 $50,000 $92,000 $80,000 $23,000 $20,000 $69,000 $60,000 With respect to long- term liabilities, what would a horizontal analysis report? Account Current assets Account receivable Merchandise inventory Current liabilities Long-term liabilities Common stock (5,000 shares) Retained earnings Net sales revenue COGS Gross Profit Selling/General expenses Net income before taxes Income tax expense Net Income A. Long-term liabilities increased by $8,000 B. Long-term liabilities decreased by $8,000. OC. Long-term liabilities increased by 21.05%. OD. Long-term liabilities decreased by 21.05%. ithat $44,000 $40,000 $55,000 $30,000 $42,000 $17,000 $515,000 $385,000 $130,000
Data on three unrelated companies are given in the following table. E (Click the icon to view the table.) Fill in the missing information in the preceding table. (Enter the capital turnover to two decimal places X.XX.) Osborne, Inc. Sales $ 114.000 Operating income $ 39,900 Total assets $ 71,250 Sales margin % Capital turnover Return on investment (ROI) Target rate of return. 10 % Residual income
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The Dry Wall Division reports the following operating data for the past two years: Profit margin ratio Asset turnover Divisional assets After-tax income Stockholders' equity Sales Multiple Choice 18%. Year 1 70% 20% 3.5 ? Year 2 ? 2 The return on investment at the Dry Wall Division was exactly the same in Year 1 and Year 2. The profit margin ratio in Year 2 was: 4 $ 159,000 $ 41,800 ? $ 83,600 $ 134,000 ? Ya
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