Kruber corp as at December 31, 2021, the end of its first year of operations has the following details Sales revenue RM317,050 Cost of goods sold RM144,760 Selling and administrative expenses RM 49,700 Gain on sale of plant assets RM28,090 Unrealized gain on available-for-sale debt investments was RM 9,890 Interest expense 6,250 Loss on discontinued operations 12,880 Dividends declared and paid 4,760 Compute: (a) Income from operations (b) Net income (c) Comprehensive income

Kruber corp as at December 31, 2021, the end of its first year of operations has the following details Sales revenue RM317,050 Cost of goods sold RM144,760 Selling and administrative expenses RM 49,700 Gain on sale of plant assets RM28,090 Unrealized gain on available-for-sale debt investments was RM 9,890 Interest expense 6,250 Loss on discontinued operations 12,880 Dividends declared and paid 4,760 Compute: (a) Income from operations (b) Net income (c) Comprehensive income

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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ll. Subject :- Accounting
Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $300,300 $186,760 Property, plant, and equipment 446,160 392,840 Intangible assets 111,540 64,400 Current liabilities 163,020 90,160 Long-term liabilities 368,940 270,480 Common stock 68,640 77,280 Retained earnings 257,400 206,080 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place.
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18 eppertree Company’s financial statements on December 31, 2021, showed the following: Net Sales $ 550,000 Fixed Assets, January 1 $ 146,000 Fixed Assets, December 31 $ 134,000 Total Assets, January 1 $ 194,000 Total Assets, December 31 $ 200,000 What is the fixed asset turnover for 2021? Multiple Choice 3.93 2.60 4.10 2.79
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The year-end financial statements for North Railway report the following information: 0.46 0.41 1.74 (In millions) 0.25 Revenues Year ended December 31, Property and equipment, net Total assets Year 2 Year 1 The annual property, plant, and equipment turnover (PPET) is: $15,095 $21,967 61,250 59,510 84,122 81,703
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Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc.Balance Sheet BeginningBalance EndingBalance Assets Cash $ 126,000 $ 137,000 Accounts receivable 333,000 476,000 Inventory 574,000 488,000 Plant and equipment, net 817,000 789,000 Investment in Buisson, S.A. 403,000 430,000 Land (undeveloped) 249,000 255,000 Total assets $ 2,502,000 $ 2,575,000 Liabilities and Stockholders' Equity Accounts payable $ 378,000 $ 333,000 Long-term debt 972,000 972,000 Stockholders' equity 1,152,000 1,270,000 Total liabilities and stockholders' equity $ 2,502,000 $ 2,575,000 Joel de Paris, Inc.Income Statement Sales $ 4,862,000 Operating expenses 4,035,460 Net operating income 826,540 Interest and taxes: Interest expense $ 123,000 Tax expense 204,000 327,000 Net income…
ancial Statements Nataro, Incorporated, has sales of $676,000, costs of $338,000, depreciation expense of $82,000, interest expense of $51,000, and a tax rate of 24 percent. What is the net income for this firm? (Do not round intermediate calculations.) Net income
Cash Accounts receivable Inventory Land Building Accumulated depreciation Total Accounts payable Common stock ($5 par) Retained earnings Total (a) (b) (c) (d) (e) FLOUNDER CORPORATION Balance Sheets December 31 (f) (h) (i) (1) Current ratio Inventory turnover Days in inventory Profit margin Average collection period Asset turnover Return on assets 2022 $12,000 Flounder's 2022 income statement included net sales of $117,000, cost of goods sold of $77,000, and net income of $28,500. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to O decimal places, eg 18 or 25% and all other answers to 2 decimal places, e.g. 1.83. Use 365 days for calculation.) Earnings per share Accounts receivables turnover Payout ratio 17,900 12,700 33,700 75,700 (16,700) Debt to total assets ratio 135,300 19.000 73,500 42,800 135,300 Return on common stockholders' equity 2021 $5,600 26,100 9,700 29,700 75,700 (13,700) 133,100…
The following information is from Lacy's Inc. $ millions Prior Fiscal Year Current Fiscal Year Net Year-End Assets Revenue Income $21,330 14,403 $18,955 $1,070 a. Compute the asset turnover ratio for the current fiscal year. b. Compute the return on assets ratio for the current fiscal year. Numerator a. Asset Turnover Ratio $ Check b. Return on Assets Ratio $ Numerator Denominator / $ Denominator / $ || Result Result
Selected data from the Carmen Company at year-end are as follows: Total assets Average total assets Net income Sales Average common stockholders' equity Net cash provided by operating activities Shares of common stock outstanding Long-term investments $2,000,000 $2,200,000 $250,000 $1,300,000 $1,000,000 $275,000 10,000 $400,000 Required: Compute the (a) asset turnover, (b) return on total assets, (c) return on common stockholders' equity, and (d) earnings per share on common stock. Assume the company had no preferred stock or interest expense. Round dol values to the nearest cent and other final answers to one decimal place. a. Asset turnover ratio b. Return on total assets c. Return on common stockholders' equity d. Earnings per share on common stock 1000 % % per share K