industries recorded and paid $1,400 advertising bill for the current month. Which occurred? current assets increase current liabilities decrease net income decrease retained earnings increase
Q: A company reports the following for the past year. Sales Income Average assets $ 17,650,000…
A: 1. Compute return on investment for the past year.Numerator: /Denominator: Net Income /Average…
Q: 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using…
A: In a horizontal analysis, the increase/decrease in amount and percentage as compared with the base…
Q: Assets Cash FORTEN COMPANY Comparative Balance Sheets December 31 Accounts receivable Inventory…
A: Depreciation is an accounting technique that provides a more realistic picture of an asset's value…
Q: What is the return on sales for fiscal year 2019 2018?
A: Return on sales=Operating ProfitNet Sales×100
Q: Comparative information taken from the Bergeron Company financial statements is shown below: 2020…
A:
Q: Description Sales Sales discount Sales returns and allowances Cost of goods sold Operating expense…
A: The earnings per share (EPS) of a company reflects its financial well-being and performance. It is…
Q: Current Position Analysis The following data were taken from the balance sheet of Nilo Company at…
A: The liquidity ratios include current ratio, quick ratios and working capital. The current ratio is…
Q: Ratio Analysis The following information was taken from Division Manufacturing’s December 31st…
A: Formula used: Gross profit margin percentage=Gross profitNet sales×100 Operating margin…
Q: 2016 143,94 Years 2014 2015 2017 2018 expenditures of employees 125,32 129,12 132,34 147,42 What is…
A: An average annual growth rate is defined as an average increase in the different data like -…
Q: The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal…
A: Formula: Current ratio = Current Assets / Current liabilities. Current Assets is divided with…
Q: Income tax expense for 2023 isn't 230 and 2022 isn't 289 . Net earning for 2023 isn't 552 and 2022…
A: To answer your question, we first need to correct the Cost of Goods Sold (COGS) for 2022, which in…
Q: The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal…
A: Ratio analysis involves evaluation of various financial aspects of the business such as liquidity,…
Q: Give 5 business metrics that are being used by companies
A: Business metric is referred to as an quantifiable measure of the business, which used to track,…
Q: PROBLEM 2-17A Earnings Quality The following is an excerpt from a quarterly earnings announcement by…
A: Financial Ratios: Financial ratios are comparison tools that are relationships established from a…
Q: Vernon Corporation reported the following operating results for two consecutive years: Required a.…
A: Horizontal analysis refers to the analysis that is used for reviewing the financial statements of…
Q: Mercedes, Company has the following quarterly financial information. 3rd Quarter $ 925,300 317,800…
A: The ratio is the technique used by the prospective investor or an individual or strategist to read…
Q: The following are line items from the horizontal analysis of an income statement: Increase/…
A: Income statement is a financial report that is related to money, In this all the things referred to…
Q: Current Position Analysis The following data were taken from the balance sheet of Nilo Company at…
A:
Q: Current Position Analysis The following data were taken from the balance sheet of Nilo Company at…
A: Working capital :— It is the difference between current assets and current liabilities. Current…
Q: Satterfield Company Income Statements For the Years Ended December 31 20Y1 20Y0 Fees earned…
A: Horizontal analysis is made to review and analyse financial statements for a number of years. It…
Q: A company reports the following income statement and balance sheet information for the current year:…
A: Return on assets is the financial ratio which determines the amount of net income earned by the…
Q: 28 A company's income statement reveals the following amounts related to the company's operations…
A: Time interest earned ratio is the ratio between net income before interest & tax and interest…
Q: a. Prepare a comparative income statement with horizontal analysis, indicating the increase…
A: ppHORIZONTAL ANALYSISHorizontal Analysis is one of the important analysis techniques for financial…
Q: Current Position Analysis The following data were taken from the balance sheet of Nilo Company at…
A: Ratio analysis is a method of measuring the financial position of the organization with different…
Q: Six measures of solvency or profitabilityThe following data were taken from the financial statements…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following…
A: Ratio analysis is a valuable management technique that may help you better comprehend financial…
Q: Simple Plan Enterprises uses a periodic inventory system. Its records showed the following:…
A: The question is based on the concept of Cost Accounting.
Q: What is the comparison (analysis) of the Days Sales Outstanding of Industry Average Ratio and the…
A: Days Sales Outstanding (DSO) is the number of days it would take for the company to collect its…
Q: Beginning Balance Ending Balance Assets $ 131,000 334,000 579,000 786,000 401,000 255,000 $…
A: Operating assets - are those assets that are required to support its business operation and…
Q: Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two…
A: Current Year Previous Year Difference Sales $537,600 $420,000 17600 Cost of goods…
Q: The income statement of Pratt Inc. reports net sales of $3,749.9 million for the current year. The…
A: Days sales outstanding is calculated by dividing number of days in a year by accounts receivable…
Q: The comparative accounts payable and long-term debt balances for a company follow. Current Year…
A: Under the comparitive analysis, the change in the balances is calculated in absolute and % terms. %…
Q: Calculating the Return on Sales The income statement, statement of retained earnings, and balance…
A: Return on sales = (Earning before interest and taxes / net sales) *100 Earning before internet and…
Q: Current Position Analysis The following data were taken from the balance sheet of Albertini Company…
A: Working capital, which comprises inventory, cash, accounts payable, accounts receivable, and…
Q: please explain the result of income statement that provided in image below
A: Income statement is the statement which shows the net profit or net loss earned during the year. All…
Q: Compute common-size percents for the following comparative income statements (round percents to one…
A: Common Size Income Statement for current year Particulars Amount % Sales 740,000 100% Cost…
Q: Current Position Analysis The following data were taken from the balance sheet of Nilo Company at…
A: a Current Year Previous Year Total current assets 1,856,000 1,300,000 Less: Total…
Q: As Elaine Black reflects on her meeting with Jim Saxton and Peter Greyton, she considers where the…
A: Robatelli's is at a pivotal point where it seeks to integrate and perhaps revamp its existing…
Q: Lom 17,200 Con Ac
A: Hello, Here I present the proforma income statement for the next year along with the next year-end…
Q: Versatile Company Income Statements For the Years Ended December 31 Fees earned Operating expenses…
A: Here "Fees Earned" is to be taken as a base for computing percentage
Q: The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal…
A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…
Q: Prepare a horizontal analysis of Nebraska Technologies's income statements. For decreases or…
A: The Statement of Comprehensive Income-The statement of comprehensive income is the profit earned and…
Q: Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated…
A: Margin is calculated by dividing sales revenue by average operating assets. Turnover is calculated…
Q: 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using…
A: Horizontal analysis is a trend analysis of financial statement that shows changes in the…
Q: Aspen Company makes snowboards and uses the total cost approach in setting product prices. Its costs…
A: Formula: Total cost per unit = Fixed cost + variable cost Sum of both fixed and variable cost…
Q: Current Position Analysis The following data were taken from the balance sheet of Nilo Company at…
A: The ratio analysis is performed by the companies to compare the financial statements of the business…
industries recorded and paid $1,400 advertising bill for the current month. Which occurred?
current assets increase
current liabilities decrease
net income decrease
The Question has covered the concept of Expenses.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- 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 $446,900 $372,400 Marketable securities 517,400 419,000 Accounts and notes receivable (net) 211,700 139,600 Inventories 1,071,800 807,000 Prepaid expenses 552,200 516,000 Total current assets $2,800,000 $2,254,000 Current liabilities: Accounts and notes payable (short-term) $324,800 $343,000 Accrued liabilities 235,200 147,000 Total current liabilities $560,000 $490,000 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…Computing Financial Statement Measures The following pretax amounts are taken from the adjusted trial balance of Mastery Inc. on December 31, 2020, its annual year-end. Assume that the income tax rate for all items is 25%. The average number of common shares outstanding during the year was 20,000. Balance, retained earnings, December 31, 2019 $ 45,000 Sales revenue 300,000 Cost of goods sold 105,000 Selling expenses 36,000 Administrative expenses 34,000 Gain on sale of investments 10,000 Unrealized holding gain on debt investments, net of tax 4,250 Prior period adjustment, understatement of depreciation from prior period (2019) 20,000 Dividends declared and paid 16,000 Required Compute the following amounts for the year-end financial statements of 2020. Do not use negative signs with any of your answers. Round the per share amount to two decimal places. Item Amount a. Gross profit (2020). b. Operating income (2020). c. Net…Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $395,200 $324,000 Marketable securities 457,600 364,500 Accounts and notes receivable (net) 187,200 121,500 Inventories 617,800 411,800 Prepaid expenses 318,200 263,200 Total current assets $1,976,000 $1,485,000 Current liabilities: Accounts and notes payable (short-term) $301,600 $315,000 Accrued liabilities 218,400 135,000 Total current liabilities $520,000 $450,000 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 %24 2. Current ratio 3. Quick ratio
- CFinancial 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 Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 121,000 207,000 $4,416,000 3,665,280 750,720 328,000 $ 422,720 Beginning Balance $ 136,000 339,000 568,000 857,000 395,000 251,000 $ 2,546,000 Ending Balance $ 131,000 479,000 488,000 842,000 435,000 253,000 $ 2,628,000 $ 349,000 $ 374,000 983,000 1,189,000 983,000 1,296,000 $ 2,546,000 $ 2,628,000 The company paid dividends of $315,720 last year. The “Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The…Long-Term Solvency Ratios Summary data from year-end financial statements of Palm Springs Company for the current year follow. Summary Income Statement Data Sales $10, 500, 600 Cost of goods sold 6, 050,000 Selling expenses 685,000 Administrative expenses 945,000 Interest expense 783, 500 Income tax expense 427,791 8,891,291 Net income $1,609,309 Summary Balance Sheet Data Cash $84, 700 Total liabilities $749,700 Noncash assets 885,500 Stockholders' equity 220, 500 Total assets $970, 200 Total liabilities and equity $970, 200 Round answers to one decimal place. a. Compute the ratio of times - interest - earned. Answer times b. Compute the debt-to-equity ratio. Answer
- 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…1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y2 as the base year. Enter decreeses as negative amounts and negative percentages. Round percentage changes to one decimal place. Greyhound Technology Company Comparative Income Statement For the Years Ended December 31, 20Y3 and 20Y2 Increase (Decrease) Increase (Decrease) Amount 20Υ3 20Y2 Percent Sales $739,806 $646,000 S Cost of goods sold (533,000) (410,000) Gross profit $206,806 $236,000 Seling expenses $(74,250) $(54,000) Administrative expenses (43,180) 4,00) Total operating expenses 117,430) $(88,000) Income from operations $89.376 $148.000 3,351 2,700 Other income Income before income tax $92,727 $150,700 S (26,000) (45,200) Income tax expense $66,727 S105,500 Net incomeHorizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $418,200 $340,000 Cost of goods sold 350,900 290,000 Gross profit $67,300 $50,000 Selling expenses $19,210 $17,000 Administrative expenses 16,940 14,000 Total operating expenses $36,150 $31,000 Income before income tax $31,150 $19,000 Income tax expenses 12,500 7,600 Net income $18,650 $11,400 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Winthrop Company Comparative Income Statement For the Years Ended December 31 CurrentyearAmount PreviousyearAmount Increase(Decrease)Amount Increase(Decrease)Percent Sales $418,200 $340,000 $fill in the blank…
- g. operating profit margin h. long -term debt ratio i. total debt ratioa. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Sales Cost of merchandise sold Gross profit Selling expenses Winthrop Company Comparative Income Statement For the Years Ended December 31 Administrative expenses Total operating expenses Income before income tax expense Income tax expense Net income profit to be Increase Current Previous Increase year year (Decrease) (Decrease) Amount Amount Amount Percent $611,000 $470,000 $ 520,700 410,000 $90,300 $27,600 24,320 $51,920 $38,380 15,400 $22,980 $60,000 $23.000 19,000 $42,000 $18,000 $ 7,200 $10,800 % % % % % % % % % b. The net income for Winthrop Company increased between years. This increase was the combined result of an in cost of merchandise sold. The cost of merchandise sold increased at a than the percentage increase in sales. in sales and percentage rate than the increase in…What is the impact on retained earnings each year?