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Question B4 Using the financial information provided below, calculate the following ratios for 2021: 1. Current ratio 2. Gross profit ratio 3. Quick ratio 4. Inventory turnover 5. Days sales in inventory Cash Prepaid Supplies Accounts receivable Allowance for Doubtful Accounts Inventory Equipment Buildings Land Total Assets Accounts payable Unearned revenue Salaries payable Mortgage payable Owner's equity Total liabilities and equity 2021 1000 500 22200 -200 12000 25000 50000 10000 120500 2020 1500 750 11750 -100 16000 25000 50000 10000 114900 3500 1500 500 0 4000 1000 45000 50000 67500 62400 120500 114900 Sales Sales discounts Cost of goods sold Salaries expense Advertising expense Maintenance expense Interest expense Bad debt expense Depreciation expense Supplies expense 2020 225000 100 2021 250000 2500 120000 110,000 45000 5000 4500 250 750 500 900 70600 45000 1000 4500 0 150 500 1200 62550

Question B4 Using the financial information provided below, calculate the following ratios for 2021: 1. Current ratio 2. Gross profit ratio 3. Quick ratio 4. Inventory turnover 5. Days sales in inventory Cash Prepaid Supplies Accounts receivable Allowance for Doubtful Accounts Inventory Equipment Buildings Land Total Assets Accounts payable Unearned revenue Salaries payable Mortgage payable Owner's equity Total liabilities and equity 2021 1000 500 22200 -200 12000 25000 50000 10000 120500 2020 1500 750 11750 -100 16000 25000 50000 10000 114900 3500 1500 500 0 4000 1000 45000 50000 67500 62400 120500 114900 Sales Sales discounts Cost of goods sold Salaries expense Advertising expense Maintenance expense Interest expense Bad debt expense Depreciation expense Supplies expense 2020 225000 100 2021 250000 2500 120000 110,000 45000 5000 4500 250 750 500 900 70600 45000 1000 4500 0 150 500 1200 62550

Essentials Of Investments
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
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Question B4 Using the financial information provided below, calculate the following ratios for 2021: 1. Current ratio 2. Gross profit ratio 3. Quick ratio 4. Inventory turnover 5. Days sales in inventory Cash Prepaid Supplies Accounts receivable Allowance for Doubtful Accounts Inventory Equipment Buildings Land Total Assets Accounts payable Unearned revenue Salaries payable Mortgage payable Owner's equity Total liabilities and equity 2021 1000 500 22200 2020 1500 750 11750 -200 -100 12000 16000 25000 25000 50000 50000 10000 10000 120500 114900 3500 1500 500 0 4000 1000 45000 50000 67500 62400 120500 114900 Sales Sales discounts Cost of goods sold Salaries expense Advertising expense Maintenance expense Interest expense Bad debt expense: Depreciation expense Supplies expense 2021 2020 250000 225000 2500 100 120000 110,000 45000 45000 5000 1000 4500 4500 250 0 750 150 500 500 900 1200 70600 62550
Transcribed Image Text:Question B4 Using the financial information provided below, calculate the following ratios for 2021: 1. Current ratio 2. Gross profit ratio 3. Quick ratio 4. Inventory turnover 5. Days sales in inventory Cash Prepaid Supplies Accounts receivable Allowance for Doubtful Accounts Inventory Equipment Buildings Land Total Assets Accounts payable Unearned revenue Salaries payable Mortgage payable Owner's equity Total liabilities and equity 2021 1000 500 22200 2020 1500 750 11750 -200 -100 12000 16000 25000 25000 50000 50000 10000 10000 120500 114900 3500 1500 500 0 4000 1000 45000 50000 67500 62400 120500 114900 Sales Sales discounts Cost of goods sold Salaries expense Advertising expense Maintenance expense Interest expense Bad debt expense: Depreciation expense Supplies expense 2021 2020 250000 225000 2500 100 120000 110,000 45000 45000 5000 1000 4500 4500 250 0 750 150 500 500 900 1200 70600 62550
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