None Required: Compute the following three ratios for TheHome Depot's year ended January 30, 2022: fixed assetturnover, days to sell, and debt-to-assets. To calculatethe ratios, use the Fiscal 2021 financial statements of TheHome Depot in Appendix A. (Note: Fiscal 2021 for TheHome Depot ran from February 1, 2021, to January 30,2022. As with many retail companies, The Home Depotlabels the period "Fiscal 2021” even though it ended inthe 2022 calendar year. The label "Fiscal 2021" isappropriate because Fiscal 2021 includes 11 months fromthe 2021 calendar year. The Home Depot explains itschoice of fiscal period in Note 1 to its financialstatements.) Note: Use 365 days in a year. Roundintermediate calculations to 1 decimal place. Round fixedasset turnover and debt-to-assets final ratios to 2decimal places. Round days to sell ratio to 1 decimalplace. multiple choice 6.06; 70.2; 1.02 2.10; 4.5; 1.05 1.87;44.1; 1.01 2.10; 70.2; 1.01

Step 1: Calculate Fixed Asset Turnover Ratio FormulaFixed Asset Turnover=Average Net Fixed AssetsNet…

Answered: Required: Compute the following three…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...

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Which of the following interprets the interest corage ratio of RED Merchandising?
Rara Sdn. Bhd Balance Sheets 31st December (in millions) 2020 2019 Assets Current assets Cash RM460 RM444 Acount receivable (net) 1,188 1,190 Inventories 1,132 247 1,056 225 Other current assets 3,027 3,281 Total current assets 2,915 3,128 Property (net) Other assets 5.593 5,804 Total assets RM11.901 RM11,847 Liabilities and Stockholders' Equity Current liabilities RM3,313 6,826 RM3,184 6,509 Long-term liabilities Stockholders' equity - common 1.762 RM11,901 2.154 RM11,847 Total liabilities and stockholders' equity Rara Sdn. Bhd Income Statements For the year ended 31st December (in millions) 2020 RM13,198 2019 Net sales RM12,397 Cost of goods sold Gross profit Selling and administrative expenses Income from operations 7.750 5,448 7,108 5,289 3.472 3.299 1,990 1,976 Interest expense 233 248 Other (income) expense, net 11 1,732 Income before income taxes 1,742 Income tax expense 503 502 Net income RM1,229 RM1.240
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The following is a partial listing of accounts for XYZ, Inc., for the year ended December 31, 2020. Required: Prepare multiple step income statement for the year of 2020. Finished Goods Current Maturities of Long-Term Debt Accumulated Depreciation Accounts Receivable $ 38,872 2,515 19,960 Sales Revenue 6,273 127,260 Treasury Stock 251 Prepaid Expenses 2,199 Deferred Taxes (long-term liability) 8,506 Interest Expense 2,410 Allowance for Doubtful Accounts 915 Retained Earnings 18,951 Raw Materials 9,576 Accounts Payable 19,021 Cash and Cash Equivalents 8,527 Sales Salaries Expense 872 Cost of Goods Sold 82,471 Investment in Unconsolidated 3,559 Subsidiaries Income Taxes Payable 8,356 Work In Process 1,984 Additional Paid-In Capital 9,614 Equipment 41,905 Long-Term Debt 15,258 Rent Income 2,468 Common Stock 3,895 Notes Payable (short-term) 6,156 Income Tax Expense 2,461
Total current assets Merchandise inventory Property and equipment, net of depreciation Total assets Total current liabilities Total long-term liabilities Total liabilities Total shareholders' equity Sales Cost of goods sold Gross profit Operating income Earnings from continuing operations before income tax expense Income tax expense Net earnings Basic earnings per share Total assets Total current liabilities Total long-term liabilities Total liabilities Fresh Grocer Corporated Selected Financial Information (amounts in millions, except per share amounts) Total current assets Merchandise inventory Property and equipment, net of depreciation Total stockholders' equity Sales Cost of goods sold Gross profit Best Grocer Incorporated Selected Financial Information (amounts in millions except per share data) Net earnings Basic earnings per share Required Operating income Earnings from continuing operations before income taxes Income tax expense December 31, 2019 December 31, 2018 $ 11,270 $…
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The data depicted in the table below were extracted from the annual financial reports of WBE enterprises for the 2021 and 2022 financial years. If all purchases are on credit, calculate the creditors payment period of WBE enterprises for the 2022 financial year. Sales (80% credit sales) Cost of sales Inventories Accounts receivable Accounts payable Cash and cash equivalents Other current liabilities OA. 214 days OB. 163 days OC. 66 days OD. 168 days 2022 R 480 000 264 000 270 000 204 000 177 000 45 750 82 500 2021 R 375 000 192 000 243 000 183 000 165 000 27 300 58 500
Required: Prepare: a. the Statement of Comprehensive Income for the year ended 31 December2020. b. the Statement of Financial Position as at 31 December 2020.
The financial statements of Dandy Distributors Ltd. are shown on the "Fcl. Stmts." page. 1 Based on Dandy's financial statements, calculate ratios for the year ended December 31, 2020. Assume all sales are on credit. Show your work. 2 From these ratios, analyze the financial performance of Dandy.
Compute the following ratiosat December 31, 2019: i.Current ratio ii.Acid-test Ratio iii.Account Receivables Turnover iv.Average collection period v.Inventory Turnover vi.Days in inventory vii.Profit margin viii.Debts to Asset ratio ix.Return on Assets x.Times Interest Earned
The following is an alphabetical list of Lloyd’s Hudson Dealership Inc.’s December 31, 2019, balance sheet accounts and amounts: 1. Prepare a properly classified balance sheet for Lloyd’s Hudson Dealership as of December 31, 2019. List the additional parenthetical or note disclosures (if any) that should be made for each item. 2. Next Level Compute the current ratio. what does it indicate about Lloyd’s Hudson Dealership?
Gardner Clothiers reported the following selected items at March 31, 2024 (last year's-2023-amounts also given as needed): (Click the icon to view the financial data.) Compute Gardner's (a) acid-test ratio, (b) accounts receivable turnover ratio, and (c) days' sales in receivables for the year ending March 31, 2024. Evaluate each ratio value as strong or weak. Gardner sells on terms of net 30. (Round days' sales in receivables to a whole number.) (Ignore leap-years, using a 365-day where needed.) C (a) Compute Gardner's acid-test ratio. (Round your final answer to two decimal places. Abbreviation used: Avg. = Average; Invest. = Investment; Liab. = Liabilities; Merch. = Merchandise; Receiv. = Receivable; Rev. = Revenue.) Acid-test ratio Data table Accounts Payable Cash Merchandise Inventory: March 31, 2024 March 31, 2023 Net Credit Sales Revenue Long-term Assets Long-term Liabilities $ 330,000 358,800 270,000 240,000 3,285,000 430,000 90,000 Print Accounts Receivable, net: March 31,…

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