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P15.6 (LO 2) The comparative statements of Beulah Limitcd are presented below. Beulah Limited Income Statement For the Years Ended December 31 2020 2019 Net sales (all on account) £500,000 £420,000 Expenses 254,000 Cost of goods sold Selling and administrative Interest expense Income tax expense 315,000 120,800 114,800 6,500 7.500 Total expenses 463,300 390,300 £ 36,700 £29,700 Net income Beulah Limited Statements of Financial Position December 31 2020 £423,000 Assets 2019 Plant assets (net) £383,000 Current assets Inventory 60,000 80,000 Accounts receivable (net) 18,000 75,000 Short-term investments Cash Total current assets 21,000 204,000 168,000 Total assets £627,000 £551,000 Equity and Liabilities Equity Share capital-ordinary (£5 par) Retained carnings £150,000 223,000 £150,000 200,000 000- CLLC 000 0J6

P15.6 (LO 2) The comparative statements of Beulah Limitcd are presented below. Beulah Limited Income Statement For the Years Ended December 31 2020 2019 Net sales (all on account) £500,000 £420,000 Expenses 254,000 Cost of goods sold Selling and administrative Interest expense Income tax expense 315,000 120,800 114,800 6,500 7.500 Total expenses 463,300 390,300 £ 36,700 £29,700 Net income Beulah Limited Statements of Financial Position December 31 2020 £423,000 Assets 2019 Plant assets (net) £383,000 Current assets Inventory 60,000 80,000 Accounts receivable (net) 18,000 75,000 Short-term investments Cash Total current assets 21,000 204,000 168,000 Total assets £627,000 £551,000 Equity and Liabilities Equity Share capital-ordinary (£5 par) Retained carnings £150,000 223,000 £150,000 200,000 000- CLLC 000 0J6

FINANCIAL ACCOUNTING
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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P15.6

P15.6 (LO 2) The comparative statements of Beulah Limitcd are presented below. Compute numerous ratios. Beulah Limited Income Statement For the Years Ended December 31 2019 £420,000 2020 Net sales (all on account) £500,000 Expenses 254,000 Cost of goods sold 315,000 114,800 Selling and administrative Interest expense 120,800 7,500 6,500 Income tax expense 15,000 20,000 Total expenses 390,300 463,300 £ 36,700 £29,700 Net income Beulah Limited Statements of Financial Position December 31 Assets 2020 2019 £423,000 £383,000 Plant assets (nct) Current asscts Inventory 80,000 Accounts receivable (net) 85,000 75,000 Short-term investments 18,000 Cash 15,000 21,000 Total current assets 204,000 Total assets £627,000 £551,000 Equity and Liabilities Equity Share capital-ordinary (£5 par) Retained carnings £150,000 200,000 £150,000 223,000 V00C LC 07:0
Transcribed Image Text:P15.6 (LO 2) The comparative statements of Beulah Limitcd are presented below. Compute numerous ratios. Beulah Limited Income Statement For the Years Ended December 31 2019 £420,000 2020 Net sales (all on account) £500,000 Expenses 254,000 Cost of goods sold 315,000 114,800 Selling and administrative Interest expense 120,800 7,500 6,500 Income tax expense 15,000 20,000 Total expenses 390,300 463,300 £ 36,700 £29,700 Net income Beulah Limited Statements of Financial Position December 31 Assets 2020 2019 £423,000 £383,000 Plant assets (nct) Current asscts Inventory 80,000 Accounts receivable (net) 85,000 75,000 Short-term investments 18,000 Cash 15,000 21,000 Total current assets 204,000 Total assets £627,000 £551,000 Equity and Liabilities Equity Share capital-ordinary (£5 par) Retained carnings £150,000 200,000 £150,000 223,000 V00C LC 07:0
O Download Total cquity 315,000 000'OSE Non-current liabilities Bonds payable 120,000 80,000 Current liabilitics 122,000 110,000 Accounts payable Income taxes payable 12,000 Total current liabilities 134,000 121,000 Total liabilities 201,000 254.000 Total cquity and liabilities £627.000 £551,000 Additional data: The ordinary shares recently sold at £19.50 per share. Problems 15-45 Instructions Compute the following ratios for 2020. h. Return on ordinary sharcholders' cquity. a. Current ratio. b. Acid-test ratio. i. Earnings per share. j. Price-carnings ratio. c. Accounts receivable turnover. d. Inventory turnover. k. Payout ratio. e. Profit margin. I. Debt to assets ratio. f. Asset turnover. m. Times interest carned. f. Asset turnover 0.85 times g. Return on assets. PH O P15.7 (LO 2) Presented below is an ince pue
Transcribed Image Text:O Download Total cquity 315,000 000'OSE Non-current liabilities Bonds payable 120,000 80,000 Current liabilitics 122,000 110,000 Accounts payable Income taxes payable 12,000 Total current liabilities 134,000 121,000 Total liabilities 201,000 254.000 Total cquity and liabilities £627.000 £551,000 Additional data: The ordinary shares recently sold at £19.50 per share. Problems 15-45 Instructions Compute the following ratios for 2020. h. Return on ordinary sharcholders' cquity. a. Current ratio. b. Acid-test ratio. i. Earnings per share. j. Price-carnings ratio. c. Accounts receivable turnover. d. Inventory turnover. k. Payout ratio. e. Profit margin. I. Debt to assets ratio. f. Asset turnover. m. Times interest carned. f. Asset turnover 0.85 times g. Return on assets. PH O P15.7 (LO 2) Presented below is an ince pue
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