The financial information below was taken from the annual financial statements of Blossom Videos: Current assets Current liabilities Total liabilities Total assets Net sales Net credit sales Cost of goods sold Inventory Receivables (net) Dividends Capital expenditures Net income Net cash provided by operating activities 2014 $147,800 52,800 234,000 651,000 699,800 686,000 386,000 66,000 38,800 11,600 19,400 65,200 42,600 2013 $142,600 72,800 237,200 674,000 728,000 698,000 372,000 62,800 35,600 14,000 26,400 51,200 49.600

The financial information below was taken from the annual financial statements of Blossom Videos: Current assets Current liabilities Total liabilities Total assets Net sales Net credit sales Cost of goods sold Inventory Receivables (net) Dividends Capital expenditures Net income Net cash provided by operating activities 2014 $147,800 52,800 234,000 651,000 699,800 686,000 386,000 66,000 38,800 11,600 19,400 65,200 42,600 2013 $142,600 72,800 237,200 674,000 728,000 698,000 372,000 62,800 35,600 14,000 26,400 51,200 49.600

Name: Subject :- Accounting Calculate the following ratios for Blossom Video
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: Subject :- Accounting Calculate the following ratios for Blossom Videos for 2014. (Round Free cash flow to 0 decimal place, e.g. 12. Other all answers to 2 decimalplaces, e.g. 12.21.)1. Average collection period2. Current ratio3. Debt to assets ratio

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter8: Internal Control And Cash

Section: Chapter Questions

Problem 5PEB

See similar textbooks

Related questions

Q: Classify the Costs for Financial Statements?

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Distinguish between Income and Expenditure Account and Receiptand Payment Account.

A: Difference between income and expenditure account and receipt and payment account:

Q: Explain Bill-and-hold concept.

Concept explainers

Reporting Cash Flows

Reporting of cash flows means a statement of cash flow which is a financial statement. A cash flow statement is prepared by gathering all the data regarding inflows and outflows of a company. The cash flow statement includes cash inflows and outflows from various activities such as operating, financing, and investment. Reporting this statement is important because it is the main financial statement of the company.

Balance Sheet

A balance sheet is an integral part of the set of financial statements of an organization that reports the assets, liabilities, equity (shareholding) capital, other short and long-term debts, along with other related items. A balance sheet is one of the most critical measures of the financial performance and position of the company, and as the name suggests, the statement must balance the assets against the liabilities and equity. The assets are what the company owns, and the liabilities represent what the company owes. Equity represents the amount invested in the business, either by the promoters of the company or by external shareholders. The total assets must match total liabilities plus equity.

Financial Statements

Financial statements are written records of an organization which provide a true and real picture of business activities. It shows the financial position and the operating performance of the company. It is prepared at the end of every financial cycle. It includes three main components that are balance sheet, income statement and cash flow statement.

Owner's Capital

Before we begin to understand what Owner’s capital is and what Equity financing is to an organization, it is important to understand some basic accounting terminologies. A double-entry bookkeeping system Normal account balances are those which are expected to have either a debit balance or a credit balance, depending on the nature of the account. An asset account will have a debit balance as normal balance because an asset is a debit account. Similarly, a liability account will have the normal balance as a credit balance because it is amount owed, representing a credit account. Equity is also said to have a credit balance as its normal balance. However, sometimes the normal balances may be reversed, often due to incorrect journal or posting entries or other accounting/ clerical errors.

Topic Video

Question

Subject :- Accounting

Calculate the following ratios for Blossom Videos for 2014. (Round Free cash flow to 0 decimal place, e.g. 12. Other all answers to 2 decimal
places, e.g. 12.21.)
1. Average collection period
2. Current ratio
3. Debt to assets ratio
4. Return on assets
5. Profit margin
6. Asset turnover
7. Inventory turnover
8. Free cash flow
tA
$
days
:1
do
%
%
do
%
times
times

The financial information below was taken from the annual financial statements of Blossom Videos:
Current assets
Current liabilities
Total liabilities
Total assets
Net sales
Net credit sales
Cost of goods sold
Inventory
Receivables (net)
Dividends
Capital expenditures
Net income
Net cash provided by operating activities
2014
$147,800
52,800
234,000
651,000
699,800
686,000
386,000
66,000
38,800
11,600
19,400
65,200
42,600
2013
$142,600
72,800
237,200
674,000
728,000
698,000
372,000
62,800
35,600
14,000
26,400
51,200
49,600
8

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Introduction:

VIEW

Step 2: Part 1 to 3:

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

For the company 'ODK Emporiki' the following is given its Balance Sheet and Income Statement : Assets Plots Buildings Machinery Stocks Customers Cash and cash equivalents Total assets Liability Chapter Reserves Balance sheet Long-term loans Suppliers Accounts payable Total Liabilities Profit and loss statement Net sales Cost of Sales Gross Profit Administrative expenses Disposal costs Other costs and losses Net profit 150.000 320.000 120.000 95.000 75.000 60.000 820.000 300.000 135.000 210.000 145.000 30.000 820.000 875.000 650.000 225.000 45.000 85.000 30.000 65.000 Requested: 1. The common size analysis (vertical analysis) for the above financial statements (balance sheet, income statement) of the company 'ODK Commercial'. 2. If the gross profit margin is 15% and the general liquidity is3% of the sector where the company 'ODK Emporiki' belongs, calculate and comment on the corresponding ratios of the company in relation to those of the sector. Can there be an interaction between…
s
Please help me with show all calculation thanku
The following information relates to SE10-5 through SE10-7: (in millions) Net sales... Cost of goods sold SE10-7. Gross profit. Selling and administrative expenses Income from operations Interest expense.. EVANS & SONS, INC. Income Statement For Years Ended December 31, 2019 and 2018 Income before income taxes Income tax expense. Net income (in millions) Assets Current assets Cash and cash equivalents Accounts receivable Inventory.. Other current assets. Total current assets Property, plant, & equipment (net) Other assets. Total Assets Liabilities and Stockholders' Equity Current liabilities. Long-term liabilities. Total liabilities.. EVANS & SONS, INC. Balance Sheet December 31, 2019 and 2018 Stockholders' equity - common. Total Liabilities and Stockholders' Equity.. 2019 9,800 (5,500) 4,300 (2,800) 1,500 (300) $ 1,200 2019 100 900 500 400 2018 1,900 2,600 5,700 $10,200 9,300 (5,200) 4,100 (2,700) (220) (200) $980 $950 1,400 $ (250) 1,150 2018 300 800 650 250 2,000 2,500 5,900 $10,400…
The following financial statements apply to Jordan Company: Revenues Expenses Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense Total expenses Year 2 $ 219,900 Year 1 $ 180,700 125,000 102,700 19,200 17,200 9,400 8,400 2,800 2,800 20,900 16,100 177,300 147,200 Net income Assets Current assets Cash Marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Plant and equipment (net) Intangibles Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Other Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock (47,000 shares) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 42,600 $ 33,500 $ 8,000 3,000 $ 4,900 3,000 35,200 30,100 201,000 198,000 4,600 3,600 248,700 105,500 21,700 $ 375,900 242,700 105,500 0 $ 348,200 $ 38,400 16,100 $ 34,100 16,300 54,500 50,400 46,700 65,700…
Very important please be correct thank you
We are given the following information for Pettit Corporation. Sales (credit) Cash Inventory Current liabilities. Asset turnover Current ratio Debt-to-assets ratio Receivables turnover $4,344,000 229,000 873,000 773,000 a. Accounts receivable b. Marketable securities c. Capital assets d. Long-term debt $ $ Current assets are composed of cash, marketable securities, accounts receivable, and inventory. Calculate the following balance sheet items: ta ta ta 1.45 times 2.80 times $ $ 50 % 8 times
Selected financial data for Amberjack Corporation follows. Year 1 ($ thousands) 339,270 265,261 Sales Cost of goods sold Net income Cash flow from operations Cash Marketable securities Accounts receivable Inventories Total current assets Accounts payable Accrued liabilities Total current liabilities (171,114) (60,875) 342,780 343,746 22,947 6,681 716,154 30,508 46,294 76,802 a. Current ratio a. Quick ratio b1. Collection period b2. Inventory turnover (X) b2. Payables period (days) b3. Days' sales in cash b4. Gross margin b4. Profit margin Year 2 ($ thousands) a. Calculate the current and quick ratio at the end of each year. Note: Round your answers to 1 decimal place. Year 1 477,721 357,524 b. Assuming a 365-day year for all calculations, compute the following: 1. The collection period each year based on sales. 2. The inventory turnover and the payables period each year based on cost of goods sold. 3. The days' sales in cash each year. 4. The gross margin and profit margin each year.…
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales. Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments. Plant assets, net Total assets KORBIN COMPANY Comparative Balance Sheets Liabilities and Equity Current liabilities. 2021 2020 2019 $ 483,981 $ 370,769 $ 257,300 291,357 234,326 164,672 192,624 136,443 92,628 68,725 51,166 43,558 32,628 112,283 83,794 80,341 52,649 14,943 10,793 $ 65,398 $ 41,856 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Common stock Other paid-in capital Retained earnings Total liabilities and equity December 31 2021 S % $ 57,843 0 KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2021…
Operating activities: Net earnings Non-cash items Add: Depreciation LAURENT COMPANY Statement of Cash Flows For the year 31 December 20X8 Changes to working ital: Add: Decrease in accounts receivable Less: Increase in accounts payable Less: Increase in inventory Investing activities: Decrease in long-term bank loan Purchase of long-term investment Financing activities: Sold long-term investment Paid cash dividend Net change in cash Opening cash Closing cash Chemisie ہے
The financial information below was taken from the annual financial statements of Oriole Videos: Current assets Current liabilities Total liabilities Total assets Net sales Net credit sales Cost of goods sold Inventory Receivables (net) Dividends Capital expenditures Net income Net cash provided by operating activities 2014 $131,000 47,200 207,400 577,500 620,700 609,000 342,600 59,000 34,600 10,200 17,300 58,200 37,700 2013 $126,500 64,400 210,600 597,000 644,000 621,000 330,000 55,800 31,400 12,600 23,600 45.600 44,000
please solve for return on assets, profit margin, asset turnover, inventory turnover, and free cash flow