Q5. Shown below are selected financial data for Planet X, Inc. and Planet Y, Inc., at the end of the current year: | Planet X, Inc. | Planet Y, Inc. S S00,000 600,000 80,000 Net credit sales Cost of goods sold Cash Accounts receivable (net) | 85,000 Inventory Current liabilities $ 700,000 550,000 | 30,000 80,000 150,000 100,000 60,000 110,000 Instructions a. For each of the two companies, compute the following: 1. Current ratio 2. Quick ratio 3. Number of times inventory turned over during the year and the average number of days required to tum over inventory (round computation to the nearest day).

Q5. Shown below are selected financial data for Planet X, Inc. and Planet Y, Inc., at the end of the current year: | Planet X, Inc. | Planet Y, Inc. S S00,000 600,000 80,000 Net credit sales Cost of goods sold Cash Accounts receivable (net) | 85,000 Inventory Current liabilities $ 700,000 550,000 | 30,000 80,000 150,000 100,000 60,000 110,000 Instructions a. For each of the two companies, compute the following: 1. Current ratio 2. Quick ratio 3. Number of times inventory turned over during the year and the average number of days required to tum over inventory (round computation to the nearest day).

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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2.The following information is from Dejlah, Inc.s, financial statements. Sales (all credit) were AED 800 million for 2020. Sales to total assets... 2 times Total debt to total asset: 30% Current ratio ... 3.0 times Inventory turnover 5.0 times Average collection period 18 days Fixed asset turnover-.... 5.0 times Fill in the balance sheet: Cash..... Current debt Accounts receivable .. Long-term del Inventory ... Total debt . Total current assets Equity...... Fixed assets..... Total assets Total debt and equity
what is the debt to equity ratio rounded to 2 decimal places? i keep getting 0.83 but it’s not correct.
Selected data from the financial statements of Rags to Riches are provided below: Current Year Prior Year Accounts Receivable $120,000 $ 76,000 Inventory 24,000 32,000 Total Assets 900,000 760,000 Net Sales 760,000 540,000 Cost of Goods Sold 320,000 420,000 Which of the following would result from vertical analysis of the company's income statement? a. The accounts receivable turnover ratio is 7.76 in the current year. b. Gross profit is 57.9% of net sales for the current year. c. Net sales are 84.4% of total assets for the current year. d. Cost of goods sold decreased by $50,000 or 23.8% during
18. The following information pertains to Q Company: Trade accounts receivable, net of P10,000 credit balance in customers’ accounts, P350,000 Notes receivable, P30,000 due in 12 months, P210,000 Advances to officers, due in 2 years, P20,000 Advances to suppliers, P10,000 Sale price of unsold goods sent on consignment to Entity F (120% of cost), P24,000 Security deposit paid on a one-year lease contract, P6,000 Dividends receivable, P30,000 Determine the total current receivables. The correct answer is: 436,000 REQUIRED: Provide a step-by-step solution.
18. The following information pertains to Q Company: Trade accounts receivable, net of P10,000 credit balance in customers’ accounts, P350,000 Notes receivable, P30,000 due in 12 months, P210,000 Advances to officers, due in 2 years, P20,000 Advances to suppliers, P10,000 Sale price of unsold goods sent on consignment to Entity F (120% of cost), P24,000 Security deposit paid on a one-year lease contract, P6,000 Dividends receivable, P30,000 Determine the total current receivables. The correct answer is: 436,000
Q7. Calculate debt and equity ratios using the following information- Accounts payable- $10,000 Accounts Receivable- $15,000 Buildings- $42,000 Cash-$4,000 Current Notes payable- $7,000 Office supplies $3,000 Long term notes payable- $40,000 Prepaid insurance- $2,000 Unearned revenue liability- $1,000 Wages payable- $3,000 Retained earnings- $10,000 Company issued 500 common shares @ $2 and 400 Preference shares @$3 during the year.. B W
The following data concern Tech Corporation for the 2022 financial year. Credit sales during the year $2 400 000 Accounts receivable 30 June 2022 410 000 Allowance for bad debts 30 June 2022 55 000 Bad debt expense for the year 70 000 What amount will Tech Corporation show on its year-end balance sheet for the net realisable value of its accounts receivable? a. 410 000 b. $285 000 c. $340 000 d. $ 355 000
Current Attempt in Progress Aspect Ltd has the following balance sheet figures. The current ratio is: Total current assets $450 000 Total current liabilities Inventory Bank overdraft O 2:1. O 1.67:1. 3.75:1. 3:1. Save for Later 150 000 200 000 30 000
Starwood Corporation has current assets of $410,000, total current liabilities of $960,000, net credit sales of $1,510,000, beginning accounts receivable of $86,000, and ending accounts receivable of $90,000. What is Starwood's accounts receivable turnover? Multiple Choice O 21.4 times 17.2 times 21.8 times 5.6 times
2.The following information is from Dejlah, Inc.s, financial statements. Sales (all credit) were AED 800 million for 2020. Sales to total assets... 2 times Total debt to total asset: 30% Current ratio........ 3.0 times Inventory turnover 5.0 times Average collection period 18 days Fixed asset turnover ... 5.0 times Fill in the balance sheet: Cash. Current debt .. Accounts receivable. Long-term debt. Inventory Total debt . Total current assets Equity... Fixed asset: Total debt and equity Total assets
Given the following information, compute the current and quick ratios: Cash $ 100,000 Accounts receivable 335,000 Inventory 487,000 Current liabilities 463,000 Long-term debt 619,000 Equity 621,000 Round your answers to two decimal places. Current ratio: :1 Quick ratio: :1

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