Required informationThe Foundational 15 (Algo) [LO14-2, LO14-3, LO14-4, LO14-5, LO14-6][The following information applies to the questions displayed below.]Markus Company's common stock sold for $3.25 per share at the end of this year. The company paid a common stockdividend of $0.65 per share this year. It also provided the following data excerpts from this year's financial statements:CashAccounts receivableInventoryCurrent assetsTotal assetsCurrent liabilitiesTotal liabilitiesCommon stock, $1 par valueTotal stockholders' equityTotal liabilities and stockholders' equitySales (all on account)Cost of goods soldGross marginNet operating incomeInterest expenseNet incomeFoundational 14-12 (Algo)This Year$ 850,000$493,000$ 357,000$ 173,375$ 9,500$ 114,712Ending Balance$ 39,000$ 72,000$ 61,900$ 172,900$ 531,000$ 69,000$ 156,000$ 132,000$375,000$ 531,00012. What is the total asset turnover? (Round your answer to 2 decimal places.)Beginning Balance$ 35,200$ 56,200$ 72,000$ 163,400$ 550,400$ 60,000$140,400$ 132,000$ 410,000$ 550,400

Total assets Turnover ratio= Net sales/ Average Total assets Net sales= $850,000(given)Average total…

Answered: Accounts receivable Inventory Current…

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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Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Joel de Paris, Incorporated Income Statement $ 386,000 978,000 1,192,000 Total liabilities and stockholders' equity $ 2,556,000 Sales Operating expenses Net operating income. Interest and taxes: Interest expense Tax expense Net income Beginning Balance. $ 112,000 197,000 $ 130,000 346,000 563,000 871,000 400,000 246,000 $ 2,556,000 $ 3,860,000 3,242,400 617,600 309,000 $ 308,600 $ Ending Balance $ 139,000 477,000 486,000 848,000 431,000 253,000 2,634,000 $ 341,000 978,000 1,315,000 $ 2,634,000 The company paid dividends of $185,600 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The…
Lydex Company Comparative Balance Sheet This Year Last Year Assets Current assets: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Note payable, 10% Total liabilities Stockholders' equity: Common stock, $ 78 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 960,000 0 2,700,000 3,900,000 240,000 7,800,000 9,300,000 $ 17,100,000 $ 3,900,000 3,600,000 7,500,000 7,800,000 1,800,000 9,600,000 $ 17,100,000 $ 1,260,000 300,000 1,800,000 2,400,000 180,000 5,940,000 8,940,000 $ 14,880,000 $ 2,760,000 3,000,000 5,760,000 7,800,000 1,320,000 9,120,000 $ 14,880,000 Sales (all on account) Lydex Company Comparative Income Statement and Reconciliation This Year $ 15,750,000 12,600,000 3,150,000 1,590,000 Last Year $ 12,480,000 9,900,000 2,580,000 Cost of goods sold Gross margin Selling and…
Clean Company Balance Sheet Cash 68,200 Accounts payable 113,500 Accounts 295,000 Notes payable 73,900 receivable Other current Inventories 212,000 101,000 liabilities Total Current Total Current 575,200 288,400 assets liabilities PP&E Net 257,400 Long-term debt 226,500 Total Equity 317,700 Total Liabilities + Total Assets 832,600 832,600 Equity Clean Company Income Statement Sales $1,414,600 Cost of sales 1,190,640 Gross profit 223,960 Operating expenses 125,840 Depreciation 36,520 EBIT 61,600 Interest expenses 21,560 Earnings before 40,040 taxes Taxes (40%) 16,016 Net profit 24,024
balance sheets Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Current liabilities Long-term notes payable Common stock, $5 par value Retained earnings Total liabilities and equity Problem 13-5A (Algo) Part 1 $ 19,500 37,400 84,640 5,900 350,000 $ 497,440 $ 33,000 56,400 134,500 6,900 304,400 $ 535,200 $ 68,340 86,800 190,000 152,300 $ 497,440 $ 535,200 $ 91,300 115,000 206,000 122,900 statement Sales Cost of goods sold Interest expense Income tax expense Net income Basic earnings per share Cash dividends per share Beginning-of-year balance sheet data Accounts receivable, net Merchandise inventory Total assets Common stock, $5 par value Retained earnings Required: 1a. For both companies compute the (a) current ratio, (b) acid-test ratio, (c) accounts receivable turnover, (d) invent sales in inventory, and () days' sales uncollected. Note: Do not round intermediate calculations. 1b. Identify the company…
Prior Year Current Year Accounts payable 3,153.00 5,915.00 Accounts receivable 6,935.00 9,046.00 Accruals 5,794.00 6,085.00 Additional paid in capital 19,655.00 13,876.00 Cash. ??? ??? Common Stock 2,850 2,850 COGS 22,169.00 18,794.00 Current portion long-term debt 500 500 Depreciation expense 1,016.00 1,037.00 Interest expense 1,276.00 1,138.00 Inventories 3,041.00 6,672.00 Long-term debt 16,904.00 22,546.00 Net fixed assets 75,987.00 73,861.00 Notes payable 4,002.00 6,534.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,536.00 34,724.00 Sales 46,360 45,799.00 Taxes 350 920 Category ww What is the firm's total change in cash from the prior year to the current year?
Current Position Analysis The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $486,400 $392,000 Marketable securities 563,200 441,000 Accounts and notes receivable (net) 230,400 147,000 Inventories 792,000 469,700 Prepaid expenses 408,000 300,300 Total current assets $2,480,000 $1,750,000 Current liabilities: Accounts and notes payable (short-term) $464,000 $490,000 Accrued liabilities 336,000 210,000 Total current liabilities $800,000 $700,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital $fill in the blank 1 $fill in the blank 2 2. Current ratio fill in the blank 3 fill in the blank 4…
am. 11.
Current Position Analysis The following items are reported on a company's balance sheet: Cash $423,700 Marketable securities 331,000 Accounts receivable (net) 304,500 Inventory 264,800 Accounts payable 662,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place. a. Current ratio fill in the blank 1 b. Quick ratio fill in the blank 2
Current Assets Cash A/R Inventory Total Net Plant & Equip Total Assets Tomson Corporation 2013 and 2014 Statement of Financial Position Assets 2013 $ 8,436 21,530 38.760 $ 68,726 $ 226.706 $295,432 2014 $ 10,157 23,406 42.650 $ 76,213 Current Liabilities A/P Notes Payable Total 1. The current ratio for each year 2. The quick ratio for each year Long-term Debt Owner's Equity Common Stock & Paid-in Surplus Retained Earnings $248,306 Total Total Liabilities & $324,519 Owners Equity Liabilities 3. The cash ratio for each year 4. The NWC to total assets ratio for each year 2013 5. The debt-equity ratio and the equity multiplier for each year 6. The total debt ratio and the long-term debt ratio for each year Round all answers to 2 decimal places. $ 43,050 18.384 $61.434 $ 25.000 $ 40,000 168.998 $ 208,998 $ 295,432 2014 1. Prepare: The 2014 combined common-size, common-base year statement of financial position for Tomson. Round your intermediate calculations to 2 decimal places…
Common Stockholders' Profitability Analysis A company reports the following: Net income $210,000 8,400 1,680,000 1,095,652 Preferred dividends Average stockholders' equity Average common stockholders' equity Determine (a) the return on stockholders' equity and (b) the return on common stockholders' equity. If required, round your answers to one decimal place. a. Return on Stockholders' Equity b. Return on Common Stockholders' Equity % %
Profitability ratios The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and 20Y5: December 31 December 31 20Y7 20Y6 December 31 20Y5 Total assets $281,000 $253,000 $225,000 Notes payable (8% interest) 90,000 90,000 90,000 Common stock 36,000 36,000 36,000 Preferred 5% stock, $100 par (no change during year) Retained earnings 18,000 97,870 18,000 70,390 18,000 54,000 < The 2017 net income was $28,380, and the 20Y6 net income was $17,290. No dividends on common stock were declared between 20Y5 and 20Y7. Preferred dividends were declared and paid in full in 2016 and 20Y7. a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity for the years 20Y6 and 20Y7. When required, round your answers to one decimal place. 20Y7 20Y6 Return on total assets Return on stockholders' equity 0.1 % 0.1 % % % Return on common stockholders' equity % 200 % b. The profitability…
Net Sales COGS Net Income Accounts Receivable Inventory Current Assets Fixed Assets Total Assets Current Liabilities Long-Term Debt Total Liabilities Shareholder's Equity Number of Shares Outstanding now Transcribed Text 1 10586 1582 2936 3333 1 7929 7294 15223 3026 288 3314 11909 7493 G C 2 4048 2025 21 230 44 299 1281 1580 369 245 614 966 48 Questions 1. What company collects its receivables the slowest? 2 w 3 213 66 7 9 16 68 12 80 23 1 24 56 24

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