The balance sheet for Revolution Clothiers is shown below. Sales for the year were $3,460,000, with 75 percercredit.CashAccounts receivablekInventoryPlant and equipmenthtencesTotal assetsREVOLUTION CLOTHIERSBalance Sheet 20X1AssetsLiabilities and Equity$ 54,000348,000Accounts payableAccrued taxes$ 287,00093,000272,000Bonds payable (long-term)131,000464,000Common stock100,000Paid-in capital150,000Retained earnings377,000$ 1,138,000Total liabilities and equity$ 1,138,000Compute the following ratios:Note: Use a 360-day year. Do not round intermediate calculations. Round your answers to 2 decimal places. Itotal assets answer as a percent rounded to 2 decimal places.a. Current ratiotimesb. Quick ratiotimesc. Debt-to-total-assets ratio%d. Asset turnovertimese. Average collection perioddays

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Answered: The balance sheet for Revolution…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...

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Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital expenditures of $112,900, cash dividends of $35,800, and average maturities of long-term debt over the next 5 years of $122,300. What is Chasses free cash flow and cash flow adequacy ratio? a. $94,300 and 0.77, respectively c. $130,100 and 1.06, respectively b. $94,300 and 0.82, respectively d. $165,900 and 1.36, respectively
Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: Note: Round answers to two decimal places. 1. Calculate the times-interest-earned ratio. 2. Calculate the debt ratio. 3. Calculate the debt-to-equity ratio.
The balance sheet for Revolution Clothiers is shown below. Sales for the year were $3,520,000, with 75 percent of sales sold on credit. Assets Cash Accounts receivable Inventory Plant and equipment Total assets REVOLUTION CLOTHIERS Balance Sheet 20X1 a. Current ratio b. Quick ratio c. Debt-to-total-assets ratio d. Asset turnover e. Average collection period $ 43,000 318,000 284,000 525,000 $ 1,170,000 Accounts payable Accrued taxes Liabilities and Equity times times % times days Bonds payable (long-term) Common stock Paid-in capital Retained earnings Total liabilities and equity Compute the following ratios: Note: Use a 360-day year. Do not round intermediate calculations. Round your answers to 2 decimal places. Input your debt-to- total assets answer as a percent rounded to 2 decimal places. $ 243,000 175,000 194,000 100,000 150,000 308,000 $ 1,170,000
The balance sheet for Revolution Clothiers is shown below. Sales for the year were $3,490,000, with 75 percent of sales sold on credit. Assets Cash Accounts receivable Inventory Plant and equipment Total assets REVOLUTION CLOTHIERS Balance Sheet 20X1 a. Current ratio b. Quick ratio c. Debt-to-total-assets ratio d. Asset turnover e. Average collection period $ 38,000 Accounts payable Accrued taxes 292,000 248,000 500,000 $ 1,078,000 Bonds payable (long-term) Common stock Paid-in capital Retained earnings Total liabilities and equity Liabilities and Equity times times % Compute the following ratios: Note: Use a 360-day year. Do not round intermediate calculations. Round your answers to 2 decimal places. Input your debt-to- total assets answer as a percent rounded to 2 decimal places. times days $ 262,000 148,000 178,000 100,000 150,000 240,000 $ 1,078,000
s
The balance sheet for Revolution Clothiers is shown below. Sales for the year were $3,190,000, with 75 percent of sales sold on credit. REVOLUTION CLOTHIERS Balance Sheet 20X1 Assets Cash Accounts receivable Inventory Plant and equipment Total assets $ 24,000 283,000 266,000 450,000 a. Current ratio b. Quick ratio c. Debt-to-total-assets ratio d. Asset turnover e. Average collection period $ 1,023,000 Accounts payable Accrued taxes Liabilities and Equity times times % times days Bonds payable (long-term) Common stock Paid-in capital Retained earnings Total liabilities and equity Compute the following ratios: Note: Use a 360-day year. Do not round intermediate calculations. Round your answers to 2 decimal places. Input your debt-to- total assets answer as a percent rounded to 2 decimal places. $ 279,000 107,000 130,000 100,000 150,000 257,000 $ 1,023,000
Ratio AnalysisPresented below are summary financial data from Pompeo’s annual report: Amounts in millions Balance Sheet Cash and Cash Equivalents $1,865 Marketable Securities 19,100 Accounts Receivable (net) 9,367 Total Current Assets 39,088 Total Assets 123,078 Current Liabilities 39,255 Long-Term Debt 7,279 Shareholders’ Equity 68,278 Income Statement Interest Expense 375 Net Income Before Taxes 14,007 Calculate the following ratios:(Round to 2 decimal points) a. Times-interest-earned ratio Answer b. Quick ratio Answer c. Current ratio Answer PreviousSave AnswersNext
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Ratio Analysis Presented below are summary financial data from Pompeo's annual report: Amounts in millions Balance sheet Cash and cash equivalents $6,328 Marketable securities 63,298 Accounts receivable (net) 32,785 Total current assets 136,808 Total assets 430,773 Current liabilities 113,172 Long-term debt 21,837 Shareholders' equity 204,834 Income Statement Interest expense 1,257 Net income before taxes 42,021 Calculate the following ratios: (round to two decimal places) a. Times-interest-earned ratio b. Quick ratio
Presented below are summary financial data from Pompeo's annual report: Amounts in millions Balance sheet Cash and cash equivalents $5,876 Marketable securities 58,776 Accounts receivable (net) 30,443 Total current assets 127,036 Total assets |400,004 Current liabilities 113,172 Long-term debt 21,837 Shareholders' equity 204,834 Income Statement Interest expense 1,167 Net income before taxes 42,021 Calculate the following ratios: (round to two decimal places) a. Times-interest-earned ratio b. Quick ratio C. Current ratio
HCB, Inc.'s financial partial statements are shown below. HCB Income Statement 2021 Sales 2,000.0 Assets 2021 Cash 86.0 Accounts receivable 360.0 Inventory 320.0 Short-term investments 223.0 Total current assets 989.0 Net fixed assets 1,940.0 Total assets 2,929.0 Liabilities and equity 2021 Accounts payable 200.0 Accruals 240.0 Short-term debt 292.9 Total current liabilities 732.9 Long-term debt 1,757.4 Total liabilities 2,490.3 Par + paid in capital less treasury 238.7 Retained earnings 200.0…
Newark Company has provided the following information:Cash sales, $600,000Credit sales, $1,500,000Selling and administrative expenses, $480,000Sales returns and allowances, $105,000Gross profit, $1,510,000Increase in accounts receivable, $70,000Bad debt expense, $48,000Sales discounts, $58,000Net income, $1,030,000How much are Newark's net sales?how would i find net sales without revenue? I think it what I am trying to find

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