Given the information below, answer questions from #29 to #33. Accounts Receivable $20,000 ($30,000 in the previous year) Total Current Assets $300,000 Investments $50,000 Total Assets $1,000,000 Total Current Liabilities $100,000 Total Long-Term Debt $400,000 Total Liabilities $500,000 Net Income $300,000 Total Revenue (Sales) $900,000 Industry average: Current ratio 1 Industry average: Solvency ratio 2.5 Industry average: Profit margin ratio 35% What is the Accounts Receivable Turnover (ART) ratio of this company?

Given the information below, answer questions from #29 to #33. Accounts Receivable $20,000 ($30,000 in the previous year) Total Current Assets $300,000 Investments $50,000 Total Assets $1,000,000 Total Current Liabilities $100,000 Total Long-Term Debt $400,000 Total Liabilities $500,000 Net Income $300,000 Total Revenue (Sales) $900,000 Industry average: Current ratio 1 Industry average: Solvency ratio 2.5 Industry average: Profit margin ratio 35% What is the Accounts Receivable Turnover (ART) ratio of this company?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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18)Given the information below, answer questions from #17 to #21. Accounts Receivable $20,000 ($30,000 in the previous year) Total Current Assets $300,000 Investments $50,000 Total Assets $1,000,000 Total Current Liabilities $100,000 Total Long-Term Debt $400,000 Total Liabilities $500,000 Net Income $300,000 Total Revenue (Sales) $900,000 Industry average: Current ratio 1 Industry average: Solvency ratio 2.5 Industry average: Profit margin ratio 35% What is the Average Collection Period of this company?
Given the following Year 9 selected balance sheet data: Assets Cash on Hand Total Current Assets Total Fixed Asset Investments Total Assets Liabilities and Shareholder Equity Accounts Payable Overdraft Loan Payable 1-Year Bank Loan Payable Current Portion of Long-Term Loans $116,000 235,000 230,000 $465,000 $ 56,000 0 0 17,000 Total Current Liabilities 73,000 Long-Term Bank Loans 46,000 Total Liabilities 119,000 Year 8 Year 9 Shareholder Equity: Balance Change Common Stock (at a par value of $0.50 per share 10,050 0 10,050 Additional Capital 81,500 0 81,500 Retained Earnings Total Shareholder Equity Total Liabilities and Shareholder Equity 162,450 92,000 254,450 254,000 +92,000 346,000 $465,000 Based on the above figures and the definition of the debt:equity percentages (or debt%:equity%) presented in the Help section for p. 5 of the Camera and Drone Journal, the company's debt:equity percentages (rounded to the nearest whole percentage--like 25% and 75%) and its current ratio are
COMPUTE FOR THE FOLLOWING ACCOUNTS: (THE BALANCE SHEET SHOULD BALANCE) (In Pesos) Annual Credit Sales 1,800,000 Cash 32,720 Gross Profit Margin 25% Marketable Sec. 25,000 Inventory Turnover 6 Accounts Receivable ? No. of days in a year 365 Inventories ? Average Collection Period 45 days Total Current Assets ? Current Ratio 1.6 Net Fixed Assets ? Total Asset Turnover Ratio 1.2 Total Assets ? Debt ratio 60% Accounts Payable 120,000 Notes Payable ? Accruals 20,000 Gross Profit ? Total Current Liabilities ? Long Term Debt ? *ALL SALES ARE CREDIT SALES Stockholders' Equity 600,000 Total Liab. And Equity ?
Category. Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 429,735.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,152.00 Interest expense 40,500 42,662.00 Inventories 279,000 288,000 Long-term debt 339,349.00 400,985.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,641.00 Retained earnings 306,000 342,000 Sales 639,000 848,846.00 Тахes 24,750 47,931.00
Given the following information, calculate the debt ratio percentage: Liabilities $24,000 Liquid assets $4,400 Monthly credit payments $300 Monthly savings $260 Net worth $72,000 Current liabilities $1,100 Take-home pay $1,800 Gross income $3,000 Monthly expenses $1,540 a) 33.3 b) 4 c) 2.86 O d) 16.67 O e) 8.67
Presented below are summary financial data from Pompeo's annual report: Amounts in millions Balance sheet Cash and cash equivalents $5,876 Marketable securities 58,776 Accounts receivable (net) 30,443 Total current assets 127,036 Total assets |400,004 Current liabilities 113,172 Long-term debt 21,837 Shareholders' equity 204,834 Income Statement Interest expense 1,167 Net income before taxes 42,021 Calculate the following ratios: (round to two decimal places) a. Times-interest-earned ratio b. Quick ratio C. Current ratio
Given the following Year 9 selected balance sheet data: Assets Cash on Hand $136,000 255,000 230,000 $485,000 Total Current Assets Total Fixed Asset Investments Total Assets Liabilities and Shareholder Equity Accounts Payable Overdraft Loan Payable 1-Year Bank Loan Payable Current Portion of Long-Term Loans Total Current Liabilities $ 66,000 10,000 17,000 93,000 46,000 139,000 Long-Term Bank Loans Total Liabilities Year 8 Year 9 Shareholder Equity: Balance Change Common Stock (at a par value of $0.50 per share Additional Capital Retained Earnings Total Shareholder Equity Total Liabilities and Shareholder Equity 10,050 81,500 162,450 254,000 10,050 81,500 254,450 346,000 $485,000 92,000 +92,000 Based on the above figures and the definition of the debt:equity percentages (or debt%:equity%) presented in the Help section for p. 5 of the Camera and Drone Journal, the company's debt:equity percentages (rounded to 2 decimal places) and its current ratio are: Copyright © by Glo-Bus Software,…
If Hot Corporation has a balance in account receivable of P80,000, total assets of P520,000, credit sales of P360,000, and current liabilities of P60,000. Assuming a 360-day year, what is the receivable turnover and average collection period, respectively?a. 4.5; 80 d. 6.0; 60b. 6.5; 55.38 e. 8.67; 41.38c. 1.44; 250
Compute the annual dollar changes and percent changes for each of the following accounts. Current Yr Prior Yr Short-term investments . $374,634 $234,000 Accounts receivable 97,364 101,000 Notes payable 0 88,000
Ratio AnalysisPresented below are summary financial data from Pompeo’s annual report: Amounts in millions Balance Sheet Cash and Cash Equivalents $1,865 Marketable Securities 19,100 Accounts Receivable (net) 9,367 Total Current Assets 39,088 Total Assets 123,078 Current Liabilities 39,255 Long-Term Debt 7,279 Shareholders’ Equity 68,278 Income Statement Interest Expense 375 Net Income Before Taxes 14,007 Calculate the following ratios:(Round to 2 decimal points) a. Times-interest-earned ratio Answer b. Quick ratio Answer c. Current ratio Answer PreviousSave AnswersNext
The following information relates to Basic Lid. for the year ended 31" December 2021: Net working capital RO. 1.200.000 Fixed assets to proprietor's fund ratio 0.75 Working capital turnover ratio 5 timeg Return on Equity 15% Current liabilities RO. 400.000 Long term Debts 0 You are required to calculate: Proprietor's funds Fixed Assets Current assets Net profit ratio Current ratio
The following information was taken from the accounts receivable records of Monty Corporation as at December 31, 2020: OutstandingBalance Percentage Estimatedto be Uncollectible 0 – 30 days outstanding $156,000 0.5% 31 – 60 days outstanding 65,400 2.5% 61 – 90 days outstanding 40,000 4.0% 91 – 120 days outstanding 20,800 6.5% Over 120 days outstanding 5,100 10.0% (a) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a credit balance of $1,280 prior to the adjustment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (b) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a debit balance of $4,010 prior to the…

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bartleby, a Learneo, Inc. business

Accounts Receivable	$20,000 ($30,000 in the previous year)
Total Current Assets	$300,000
Investments	$50,000
Total Assets	$1,000,000
Total Current Liabilities	$100,000
Total Long-Term Debt	$400,000
Total Liabilities	$500,000
Net Income	$300,000
Total Revenue (Sales)	$900,000
Industry average: Current ratio	1
Industry average: Solvency ratio	2.5
Industry average: Profit margin ratio	35%