Problem 13-18A (Algo) Vertical analysis LO 13-1 Required Prepare a vertical analysis of both the balance sheets and Income statements for Year 4 and Year 3. Complete this question by entering your answers in the tabs below. Balance Sheet Prepare a vertical analysis of the income statements for Year 4 and Year 3. Note: Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45). Revenues Sales (net) Other revenues Income Statement Total revenues Expenses Net income RUNDLE COMPANY Vertical Analysis of Income Statements Year 4 Cost of goods sold Selling, general, and administrative expense Interest expense Income tax expense Total expenses Amount $ 231,300 8,100 239,400 120,000 53,200 7,800 22,300 203,300 $36,100 < Balance Sheet Percentage of Total Amount % Year 3 %S 212,000 15,200 217,200 101,700 49,500 7,000 21,300 179,500 $ 37,700 Income Statement > Percentage of Total %

Problem 13-18A (Algo) Vertical analysis LO 13-1 Required Prepare a vertical analysis of both the balance sheets and Income statements for Year 4 and Year 3. Complete this question by entering your answers in the tabs below. Balance Sheet Prepare a vertical analysis of the income statements for Year 4 and Year 3. Note: Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45). Revenues Sales (net) Other revenues Income Statement Total revenues Expenses Net income RUNDLE COMPANY Vertical Analysis of Income Statements Year 4 Cost of goods sold Selling, general, and administrative expense Interest expense Income tax expense Total expenses Amount $ 231,300 8,100 239,400 120,000 53,200 7,800 22,300 203,300 $36,100 < Balance Sheet Percentage of Total Amount % Year 3 %S 212,000 15,200 217,200 101,700 49,500 7,000 21,300 179,500 $ 37,700 Income Statement > Percentage of Total %

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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Question 6 (this question has 2 parts) Gordon Industries Ltd has provided you with the following information: 2019 2020 2021 Debt to Equity 10.5% 23.4% 36.2% Gross Profit margin 30.2% 36.5% 35.3% Net profit margin 19.5% 17.6% 13% Return on Equity 15.1% 17.5% 16.2% Asset Turnover (times) 0.71 0.82 1.41 Return on Assets 13.8% 14.4% 18.3% Interest coverage ratio 4 times 3 times 2.5 times a) Advise Gordon Industries of the relationship between Return on Assets, Asset Turnover and Net Profit Margin. Comment on the profitability position of Gordon and any advice you consider relevant. b) Advise the shareholders of Gordon Industries on the financial structure of the company.
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Problem 17-6AA (Algo) Income statement computations and format LO A2 [The following information applies to the questions displayed below] Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow. Assume that the company's income tax rate is 40% for all items. a. Interest revenue. b. Depreciation expense-Equipment c. Loss on sale of equipment d. Accounts payable. e. Other operating expenses f. Accumulated depreciation-Equipment g. Gain from settlement of lawsuit h. Accumulated depreciation-Buildings i. Loss from operating a discontinued segment (pretax) j. Gain on insurance recovery of tornado damage k. Net sales 1. Depreciation expense-Buildings B. Correction of overstatement of prior year's sales (pretax) n. Gain on sale of discontinued segment's assets (pretax) o. Loss from settlement of lawsuit p. Income tax expense q. Cost of goods sold Debit $ 35,400 27,250 107,800 19,650 53,400 17,400 25,150 496,500 Credit $…
Exercise 17-4 (Algo) Computing and interpreting common-size percents LO P2 Express the following comparative income statements in common-size percents. Using the common-size percents, which item is most responsible for the decline in net income? Complete this question by entering your answers in the tabs below. Income Statement Reason for Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) Sales Cost of goods sold Gross profit Operating expenses Net income GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year $ Current Year % 780,000 $ 560,000 220,000 130,400 89,600 $ Income Statement Prior Year $ $ $ 660,000 295,400 364,600 251,600 113,000 Prior Year % Reason for Decline in Net Income >
Drill Problem 7-20 (Algo) (LU 7-2 (2)] Complete the following: Note: Do not round intermediate calculations. Round your final answers to the nearest cent. Amount of invoice $ Terms 635 2/10, N/60 Invoice date 7/18 Actual partial payment made $ 435 Date of partial payment 7/27 Amount of payment to be credited Balance outstanding
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Top-Value Corporation has 242,000 shares of $30 par common stock outstanding. On September 2, Top-Value Corporation declared a 2% stock dividend to be issued November 30 to stockholders of record on October 3. The market price of the stock was $55 per share on September 2. Required: Journalize the entries required on September 2, October 3, and November 30. If no entry is required, simply skip to the next transaction. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.