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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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Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands).
2022
2021
Cash
$13,600
$9,100
Accounts receivable
24,000
20,500
Inventory
31,700
30,800
Other current assets
12,700
11,909
Total current assets
$82,000
$72,309
Total current liabilities
$246,000
$315,600
Compute the current ratio for each year. (Round answers to 2 decimal places, e.g. 2.12.)
2022
2021
Current ratio:
:1
:1
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The following selected information (in thousands) is available for Granger Limited: Total assets Type here to Total liabilities Interest expense Income tax expense Net income Cash provided by operating activities Net capital expenditures Dwidends paid or common shares E 2021 $3,909 2.155 16 176 407 845 402 110 2020 $3,668 1.942 23 151 379 576 300 90
BE14.10 (LO 3), AP Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands). 2022 2021 $ 13,606 $7,669 23,045 19,951 31,087 31,345 12,522 11,909 $80,260 $ 70,874 $245,805 $326,203 Cash Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities Compute the current ratio for each year. 2021 2022 Round to hundreds (.00)
Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2019. Below is a portion of its balance sheet. Conduct a horizontal analysis of the following line items. (Negative answers should be indicated by a minus sign. Round the "percent" answers to the nearest hundredth percent.) 2019 (dollars in millions) 2018 (dollars in millions) Difference % CHG Cash and cash equivalents $ 15,980 $ 15,499 Marketable securities 9,222 16,148 Inventories 13,642 14,324 Goodwill 1,278 Total liabilities and equity $ 103,249 $ 144,603
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Assume Metro Company had a net income of $2,100 for the year ending December 2018. Its beginning and ending total assets were $30,000 and $18,000, respectively. Calculate Metro's return on assets (ROA). (Round your percentage answer to two decimal places.) A. 7% B. 11.67% C. 4.38% D. 8.75%
How can this be worked out ?
Perform a horizontal analysis for the balance sheet entry "Cash" given below. That is, find the amount of increase or decrease (in $) and the associated percent (rounded to the nearest tenth).
Compute the following for Stanley Limited. Round your answers to two decimal places. All answers MUST be expressed in the unit as specified in the question, if any. Show your workings. (a) Gross Profit Rate (in %) (b) Current Ratio (c) Quick Ratio B Stanley Limited Statement of Financial Position 31 December 2021 ($ in million) Stanley Limited Income Statement For the year ended 31 December 2021 ($ in million) Question B5 (continued) (d) Accounts Receivable Turnover Rate (e) Return on Equity (%) (f) Debt Ratio (in %) (g) Price-Earnings Ratio
The management of Maxlab Ltd. has provided you with the following data relating to their operations for the last two financial periods. 2021 2020 Notes receivable $ 20,000 $ -0- Accounts receivable $182,000 $140,000 Sales $930,000 $750,000 Operating expenses $170,000 $200,000 Payables $45,000 $20,000 Required: Calculate the percentage change for each item as reported above using 2020 as the base year and explain your result.
Current Attempt in Progress Suppose McDonald's 2025 financial statements contain the following selected data (in millions). Current assets Total assets Current liabilities Total liabilities (a1) a. b. C. $3,330.0 Compute the following values. d. 30,230.0 3,000.0 15,719.6 Interest expense Income taxes Net income $480.0 1,938.0 4,542.0 Working capital. (Round to 1 decimal place in millions, e.g. 5,275.5.) Current ratio. (Round to 2 decimal places, e.g. 6.25:1.) Debt to assets ratio. (Round to O decimal places, e.g. 62%.) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) $ millions :1 % times
Here is some financial statement data for Nestlé (in millions of Swiss francs): After reviewing the information, calculate the following ratios for Nestlé for 2021:1) Inventory turnover2) Profit margin3) Return on assets4) Free cash flowRound all answers to two decimal places. Do not include dollar signs because Nestlé's accounting information is in Swiss francs. Show the calculations for each answer.
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