The assets of Moreland Corporation are presented below.January 1 December 31CashMarketable securities$48,000$62,00042,00035,000Accounts receivable68,00047,000Inventory125,000138,000Plant & equipment (net of accumulated depreciation)325,000424,000For the year just ended, Moreland had net income of $96,000 on $900,000 of sales. Moreland's total asset turnover ratio is:Oa. 1.27.Ob. 1.37.Oc. 1.48.Od. 1.50.

Morland's total asset turnover ratio is 1.37.{ Option (b) }Explanation:Step 1:Step 2:

Answered: The assets of Moreland Corporation are…

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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The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 1,710,000 Cost of goods sold 837,900 Gross profit 872,100 Operating expenses Salaries expense $ 234,270 Depreciation expense 41,040 Rent expense 46,170 Amortization expenses—Patents 5,130 Utilities expense 18,810 345,420 526,680 Gain on sale of equipment 6,840 Net income $ 533,520 Accounts receivable $ 26,000 increase Accounts payable $ 15,650 decrease Inventory 27,075 increase Salaries payable 3,850 decrease Prepare the operating activities section of the statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign.
SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 2,123,000 Cost of goods sold 1,040,270 Gross profit 1,082,730 Operating expenses Salaries expense $ 290,851 Depreciation expense 50,952 Rent expense 57,321 Amortization expenses—Patents 6,369 Utilities expense 23,353 428,846 653,884 Gain on sale of equipment 8,492 Net income $ 662,376 Accounts receivable $ 27,750 increase Accounts payable $ 15,725 decrease Inventory 24,000 increase Salaries payable 5,050 decrease Prepare the operating activities section of the statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.)
The income statement and comparative Statement of Financial Positions of MacTavish Ltd. are shown below.Income Statement for the year ended December 31, 20x4Sales $ 1,420,000Cost of goods sold (1,110,000)Depreciation expense (55,000)Interest expense (22,000)Operating expenses (178,000)Gain on sale of capital assets 10,000Income tax expense (19,000)Net income $ 46,000Statement of Financial Position as at December 31 20x420x4 20x3Cash $ 71,000 $ 80,000 Accounts receivable 191,000 169,000 Inventory 303,000 324,000 Prepaid expenses 18,000 26,000Capital assets 640,000 612,000 Accumulated depreciation (301,000) (253,000) $922,000 $958,000Accounts payable $ 149,000 $ 243,400 Interest payable 41,000 36,000 Income taxes payable 8,000 12,000 Deferred revenue 25,000 17,000Bonds payable – net 226,000 229,600Common shares 317,000 300,000 Retained earnings 156,000 120,000 $922,000 $958,000 Additional information1. The bonds payable have a face value of…
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Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 Assets Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities Long-term bonds Total liabilities Common stock (4,000 shares) Retained earnings Common equity Total llabilities and equity Sales Operating costs excluding depreciation and amortization EBITDA Depreciation & amortization EBIT Interest EBT Taxes (25%) Net Income Dividends pald Income Statement for Year Ending December 31, 2021 2021 Balances, 12/31/20 2021 Net Income Cash Dividends Addition to retained earnings Balances, 12/31/21 $ 15,000 35,000 34,190 $ 84,190 48,000 $132,190 $ 10,100 7,300 6,200 $ 23,600 15,000 $ 38,600 60,000 33,590 $ 93,590 $132,190 c. Construct Arlington's 2021 statement of stockholders' equity. Shares $ 2020 $ 13,000 30,000 28,000…
A company has, among other things, the following items in its annual report:Net sales SEK 25,500,000Other income SEK 100,000Inventory 6,500,000 secCash and Bank 500,000 secReceivables 2,000,000 secShort-term investments SEK 500,000Personnel costs SEK 11,500,000Fixed assets SEK 3,300,000Long-term liabilities SEK 5,800,000Calculate the company's capital turnover rate. NOTE! Round to two decimal places! For example, the number 15.54678 would be 15.55 or 2.68512 would be 2.69.
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Where would you find the financial statements for Costco? https://motley.com https://wallstreet.com https://investor.costco.com https://sec.gov Endotherm Company produced revenue of $120,000. Beginning Assets for the period were $200,000 and Ending Assets were $250,000. What is the Total Asset Turnover Ratio for this period? .53 1.87 .48 .26 What is the Total Asset Turnover Ratio for a company with $120,000 in annual sales, beginning Assets of $250,000 and ending Assets of $200,000? .48 1.34 .26 .53 The efficiency ratio that shows how efficiently a company uses its cash to generate revenue is: Accounts Receivable Turnover Ratio. Total Asset Receivable Turnover Ratio. Cash Turnover Ratio. Inventory Turnover Ratio. please answer all questions. explainte answwer provide me with correct option

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