Compute the following: 1. Efficiency ratio 2. Financial Leverage
Q: Red River Bakery purchases land, building, and equipment for a single purchase price of $380,000.…
A: Introduction:- The following formulas used as follows under:- 1)Allocation percentage =Estimated…
Q: Granite Company purchased a machine with cost of $90,000 and salvage value of $6,000. The life of…
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…
Q: Division A makes a part with the following characteristics: **USE IMAGE ATTAHCED TO SEE** a)…
A: Hi! Thank you for the question. As per the honor code, we are allowed to answer three sub-parts at a…
Q: Question Eight Inter Company had the following accounts from the adjusted trial balance at June 30,…
A: The Post-closing trial balance is a summary of the permanent account. It is prepared after preparing…
Q: ackpot Mining Company operates a copper mine in central Montana. The company paid $1,900,000 in 2021…
A: A journal entry is used to record a business transaction int he accounting records of a business.
Q: beg Sales Sales Inventory Purchases Inventory Sold (Loss) returns 5,000 80,000 24,000 130,000 38,000
A: Calculation of Sales Sales = Net Sales + Sales returns Sales = 80,000 + 5,000 Sales = 85,000
Q: On Jan 1, 20x1, Panda Yummy entered into an agreement to lease packaging equipment from RCT…
A: Lease- Lease agreements are contracts or instruments that transfer property from one person to…
Q: Problem #2: AMA cooperative store had the following activities for year ended 2021: grös3 sales…
A: Net sales is the sales after any discount or return and allowances. Gross profit is the amount which…
Q: Preferred shares, $4.55 non-cumulative, 52,000 shares authorized and issued* $ 3,328,000…
A: The non cumulative preference shares do not get any dividend in arrears for previous year. The…
Q: You have the following information for Coronado Inc. for the month ended June 30, 2022. Coronado…
A: Sales Transactions Date Units Price Sales Value (units x price) 10-Jun Sales 110 53 5830…
Q: A CPA has been doing the records for a company for the last ten years. She was approached by the…
A: The answers for the questions on keeping two sets of records by a CPA are discussed hereunder : A…
Q: MC27 On November 1, 2019, a newly established manufacturing outfit paid cash to acquire a patent for…
A: The amortization expenses are the allocation of the cost of intangible assets over the period that…
Q: For a construction job, a contractor can haul rock by means of an ordinary 10 cubic yard dump truck,…
A: Fixed Cost- Fixed costs do not alter in response to income fluctuations and stay constant. The…
Q: elghted Average Cost Method with Perpetual Inventory ne beginning inventory for Midnight Supplies…
A:
Q: Veronica Mars, a recent graduate of Bell’s accounting program, evaluated the operating performance…
A: Elimination of Division: You may have gotten the impression by now that the elimination procedure is…
Q: Assuming no other changes to the limit order book, which of the following statements is always true?
A: In resulting from the placement of a new limit order only depth and width are changes . Remaining…
Q: c. $300 lease payment received from the Men's Club this year for renting Jeremy's trailer last year.…
A: Cash method is the method in which income is recorded when it is actually received and not at the…
Q: What are the tax advantages and disadvantages of converting a C Corporation into an LLC?
A: GIVEN the tax advantages and disadvantages of converting a C Corporation into an LLC
Q: Ewing Company is preparing a cash budget for September. The following information on accounts…
A: A cash budget is prepared to estimate the total cash received and total cash disbursement. It is…
Q: variable costs by 25% on the net profit, if that increase was the result of
A: Answer
Q: 2a.Harry and Sally formed the Evergreen partnership by contributing the following assets in exchange…
A: Partnership is a formal agreement between two person or group to operate the business or firm to…
Q: Backyard World buys plastic pools from a supplier with an invoice amount of $13,500. The terms of…
A: Introduction:- Backyard World buys plastic pools from a supplier Total Invoice amount of $13,500…
Q: Pigot Corporation uses job costing and has two production departments, M and A. Budgeted…
A: Overhead rate = Factory overhead costs / Direct labor costs Applied Factory overhead costs = Direct…
Q: Answe these questions in relation to accounting packages systems
A: Here discuss about the details of the sage Pastel software for the Accounting and uses to kept…
Q: Matt has two single accounts at Midtown Bank. One account has a balance of $74,112.09 and the other…
A: Federal deposit insurance corporation is also written as FDIC. It provides the insurance coverage…
Q: On December 31, 2020, Phil purchased $20,000 of newly issued bonds of Texas Corporation for $16,568.…
A: Please see Step 2 for required information.
Q: Determine the breakeven sUggested retail price for a manufacturer's new consumer product (CP). The…
A: Any sum of cash or rate of return on investment that an asset must be sold for to recoup the…
Q: Required information [The following information applies to the questions displayed below.] The…
A: The question is based on the concept of Bank reconciliation statement.
Q: Crouch LLC placed in service on May 19, 2021, machinery and equipment (seven-year property) with a…
A: In this question , we will find out the maximum depreciation deduction according to MACRS half year…
Q: Jane has written out a check to Manny for $100. Unfortunately, the check was stolen by Stringer Bell…
A: Here given the details of cheque transaction which are involved with the maker and payee and which…
Q: You owe 25,000 on a credit card that changes 1.5% interest each month. You can pay 2,500 each month…
A: Let an be amount on a credit card that charges 1.5% interest each month person pay $2,500 each…
Q: Required: 1. Determine the net effect of buying the components on the net income. Will you outsource…
A: Answer:
Q: How are duplicate checks useful in determining expected food revenue in nonautomated food…
A: A duplicate guest check technique provides a control system wherein the server gives the kitchen an…
Q: Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2020 and 2019. (Round "Debt…
A: Lets understand the basics. Debt equity ratio compares the total liabilities with the total equity…
Q: 4. Department B (the final production process) had 3,000 units in Work in Process that was 25%…
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
Q: If the selling price per unit is $10, the unit contribution margin is $5, and total fixed expenses…
A: Breakeven sales in units = Total fixed expenses / Unit contribution margin where, Total fixed…
Q: Werner's Fish House purchases a tract of land and an existing building for $870,000. The company…
A: When any land and building is purchased, initial expenditure is incurred to clean the land, tear…
Q: Gross Profit Method A flood completely destroyed all the inventory of Bayside Waterworks Company on…
A: Under the gross profit method, the ending inventory is calculated by deducting the cost of goods…
Q: Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for…
A: >Contribution margin Income Statement is Variable costing Income Statement wherein, the Costs are…
Q: customer just paid $316 for a Blu-ray player. If the cost was 60% of selling price what was the mark…
A: Solution... Selling price = $316 Cost of 60% of selling price Markup amount = ?
Q: For a construction job, a contractor can haul rock by means of an ordir yard dump truck, or he can…
A: In the given question we are provided with the data of a construction job. In it, there are details…
Q: Réquired Use the following information for the Exercises below. (Static) (The following information…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Why are elasticities useful to managers? What are the most prevalence and useful elasticities? Why…
A: Price elasticity of demand refers to as the proportionate change in the quantity demanded due to a…
Q: Can corporation use the Cash method of accounting? Explain.
A: Payment receipts are typically recognized during the timeframe in which they have been obtained, and…
Q: 1a.Harry and Sally formed the Evergreen partnership by contributing the following assets in exchange…
A: As per the relevant provisions, The gain on the property that is contributed by a partner to the…
Q: The Bottling Department of Mountain Springs Water Company had 5,000 liters in beginning work in…
A: Solution: Equivalent units for conversion cost under FIFO method = Beginning WIP Units * % completed…
Q: If the cost of money is 14%, how much is the annual cost of the lowest ollel
A: Answer
Q: A dining set costs a company $2,300 to manufacture. If it sells for $5,175, what is the percent…
A: Solution... Cost = $2,300 Sales = $5,175 Markup on cost = ?
Q: Roth LLC purchased only one asset during the current year. On August 1st Roth placed in service…
A: In this question, we will calculate the maximum depreciation expense .
Q: Lucent Technologies, Inc., was formed from AT&T's Bell Laboratories research organization after the…
A: In this question, we will explain about the quality of Lucent Earnings of 1997,1998 and 1999 from…
Step by step
Solved in 3 steps
- ABC Industry and Trade Inc. Balance Sheet as of 31.12.2020 (TL) transactions ASSETS(Assets) I-Current Assets Ready Values Securities Commercial debts Stocks Other Current Assets Current Assets Total I-Fixed Assets Financial Fixed Assets Tangible Fixed Assets Total Fixed Assets TOTAL ASSETS 31.12.2020 Amount Vertical Percent (%) 360.000 12 45.000 1.5 870.000 29 840.000 28 255.000 8.5 2.370.000 79 390.000 13 240.000 8. 630.000 21 3.000.000 100 LIABILITIES(RESOURCES) l-Short Term Liv. resources Financial Debts Trade payables Short Term Foreign Resource Total Il-Long-Term Liabilities Financial Debts Long Term Liv. Source Ball. III-Equity Paid-in capital Profit Reserves Net profit for the period Previous Year's profit Total Equity TOTAL LIABILITIES (RESOURCES) 39.000 1.3 120.000 4 159.000 5.3 81.000 2.7 81.000 2.7 120.000 4 420.000 14 1.950.000 65 270.000 9 2.760.000 92 3.000.000 100 Requested: Calculate the vertical percentages of the Balance Sheet items of ABC Sanayi ve Ticaret A.Ş. dated…II. The following is a comparative balance sheet of ABC Co. for December 31, 2022 and 2021: Cash and cash equivalents Accounts receivable Inventories Investment in bonds at amortized cost Equipment Accumulated depreciation Total Assets Accounts payable Bonds payable, due 2025 Ordinary stock, P20 par Share premium Retained earnings Total Liabilities and Equity Additional information: . 2022 250,000 327,600 822,000 0 . 2,400,000 (700,000) 3,099,600 359,000 0 1,800,000 280,000 660,600 3,099,600 2021 220,000 356,000 780,000 200,000 2,040,000 (760,000) 2,836,000 • Net income for 2022, P545,600. Depreciation reported on income statement, P140,000. Fully depreciated equipment, no salvage value, was scrapped. Equipment was purchased for P560,000. Bonds of P400,000 were retired at their face value. 281,000 400,000 1,600,000 200,000 355,000 2,836,000 10,000 shares of ordinary stock were issued for cash of P28 per share. Cash dividends declared and paid, P240,000 Investment in bonds with carrying…Reference is made to the 2022 Balance Sheet of Tram-Ropes limited. Tram-Ropes Limited Balance Sheet 2022 Cash Acc. Receivable Marketable securities Inventories Fixed Assets Total Assets i. 1,000,000.00 ii. 12,000,000.00 3,000,000.00 7,500,000.00 26,500,000.00 50,000,000.00 Accounts Payable Notes Payable Long-term Debt Common stock Preferred Stock Total Liabilities and Equity 8,000,000.00 8,500,000.00 20,000,000.00 7,500,000.00 6,000,000.00 Additional Information: The Long-Term debt consists of 8% annual coupon bonds, with 15 years to maturity and are currently selling for 95% of par. The company's common shares which have a book value of $20 per share are currently selling at $25 per share. 50,000,000.00
- Reference is made to the 2022 Balance Sheet of Tran-Ropes limited. Tram-Ropes Limited Balance Sheet 2022 Cash Acc. Receivable Marketable securities Inventories Fixed Assets Total Assets 1,000,000.00 ii. 12,000,000.00 3,000,000.00 7,500,000.00 26,500,000.00 50,000,000,00 Accounts Payable Notes Payable Long-term Debt Common stock Preferred Stock Total Liabilities and Equity 8,000,000.00 8,500,000.00 20,000,000.00 7,500,000.00 6,000,000.00 50,000,000.00 Additional Information: 1. The Long-Term debt consists of 8% annual coupon bonds, with 15 years to maturity and are currently selling for 95% of par. The company's common shares which have a book value of $20 per share are currently selling at $25 per share. iii. iv. V. Preferred shares have a book value of $100 per share. These shares are currently selling at $120 per share and pays dividends of 6% per annum on book value. The dividend growth rate is expected to be 3%, and dividend for 2823 is projected to be $5.00 per share. The…Transaction Analysis Goal Systems, a business consulting firm, engaged in the following transactions: a. Issued common stock for $100,000 cash. b. Borrowed $60,000 from a bank. c. Purchased equipment for $42,000 cash. d. Prepaid rent on office space for 6 months in the amount of $9,000. e. Performed consulting services in exchange for $7,100 cash, f. Performed consulting services on credit in the amount of $19,250. 9. Incurred and paid wage expense of $10,200. h. Collected $13,500 of the receivable arising from Transaction f 1. Purchased supplies for $1,680 on credit. 3. Used $1,100 of the supplies purchased in Transaction i k. Paid for all of the supplies purchased in Transaction 1. Required: For each transaction described above, indicate the effects on assets, liabilities, and stockholders' equity using the format below. If an amount box does not require an entry, leave it blank. Enter decreases in account values as negative numbers. If the effect of a transaction is to increase AND…Debt to Assets ratio? Current assets $22400 Net income $44500 Stockholders' Current liabilities 13400 66400 equity Average assets 132000 Total liabilities 28600 Total assets 87000 Average common shares outstanding was 17000. 21.7 percent 43.8 percent 32.9 percent 33.7 percent
- Compared to the ROE in 2020, the ROE in 2021 has Improved / 6.65% Improved / 3.43% Worsened / -6.65% Worsened / -3.43% Stayed the same / 0% byFinancial statement analysis 2. Given below are the summarized accounts of Belper Ltd for the past five years. These the basis for the questions which follow. Summarized profit and loss accounts of Belper Ltd Sales Cost of sales Trading profit Depreciation Interest Net profit before tax Taxation Net profit after tax Extraordinary items Dividends Retained profits Retained at start of year Retained at end of year Fixed assets Freehold land and buildings Leasehold land and buildings Plant and machinery Total gross fixed assets Depreciation freehold Depreciation leasehold Depreciation plant, etc. Total depreciation Net fixed assets Intangible fixed assets Goodwill Investments Patents and trade marks Current assets Stock Debtors Bank and cash Current liabilities Creditors Taxation Dividends Bank loans and overdraft 19X4 Net current assets £000 Financed by Ordinary share capital Share premium account Retained profits Revaluation reserves 93,930 81,750 12,180 1,023 2,727 8,430 2,517 5,913…The comparative balance sheets for Metlock Corporation show the following information. December 312020 2019Cash $33,500 $12,900Accounts receivable 12,400 10,000Inventory 12,100 9,000Available-for-sale debt investments –0– 3,000Buildings –0– 29,800Equipment 44,800 19,900Patents 5,000 6,300 $107,800 $90,900Allowance for doubtful accounts $3,100 $4,500Accumulated depreciation—equipment 2,000 4,500Accumulated depreciation—building –0– 6,000Accounts payable 5,000 3,000Dividends payable –0– 4,900Notes payable, short-term (nontrade) 3,000 4,100Long-term notes payable 31,000 25,000Common stock 43,000 33,000Retained earnings 20,700 5,900 $107,800 $90,900 Additional data related to 2020 are as follows. 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500.2. $10,000 of the long-term note payable was paid by issuing common stock.3. Cash dividends paid were $4,900.4. On January…
- The balance sheet for Shankland Corporation follows: 000'009 $ 000006 Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings 000 0000 000 00 000 009' 000 006 Total liabilities and stockholders' equity 000'00s Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratioGiven the information below, determine the free cash flow for 2014. Income Statement (In Thousands) Sales Operating costs EBITDA Depreciation Earnings before interest and taxes Interest (8%) Earnings before taxes Taxes (40%) Net income Common dividends 2014 2013 $24,800.00 $22,000.00 $14,880.00 $13,200.00 $9,920.00 $8,800.00 -$920.00 $800.00 $9,000.00 $8,000.00 -$112.00 -$160.00 $8,888.00 $7,840.00 -$3,555.20 -$3,136.00 $5,332.80 $4,704.00 $2,082.00 $2,352.00Q7 Prepare common size Balance Sheet of XRI Ltd. from the following information: Particulars I. Equity and Liabilities 1. Shareholders' Fund a) Share capital b) Reserves and surplus 2. Non-current liabilities Long-term borrowings 3. Current liabilities Trade Payable Total II. Assets 1. Non-current assets a) Fixed assets - Tangible asset Total Plant & machinery - Intangible assets Goodwill b) Non-current investments 2. Current assets Inventories Note No. March 31, 2016 15,00,000 5,00,000 6,00,000 14,00,000 March 31, 2017 16,00,000 10,00,000 12,00,000 5,00,000 15,50,000 10,50,000 41,50,000 32,50,000 5,00,000 8,00,000 12,00,000 10,00,000 1,50,000 2,50,000 41,50,000 32,50,000