The following information was drawn from the accounting records of Jones Company. Net sales Net income Average total assets Average total liabilities Average total stockholders' equity Based on this information the company's asset turnover is Multiple Choice $400,000 50,000 500,000 300,000 200,000

The following information was drawn from the accounting records of Jones Company. Net sales Net income Average total assets Average total liabilities Average total stockholders' equity Based on this information the company's asset turnover is Multiple Choice $400,000 50,000 500,000 300,000 200,000

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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K. Jackson Corporation Assets Cash Accounts receivable Inventory Net fixed assets Total assets Liabilities and owners' equity. Accounts payable ST Notes payable Long-term debt Owners' Equity Total liabilities and owner's equity Balance Sheet $250,000 450.000 500,000 2.100,000 $3,300.000 $100.000 450.000 1,050,000 1,700.000 $3,300,000 Income Statement Sales (all credit) Cost of goods sold Operating expense Interest expense Income taxes Net income $8,000,000 (4.000.000) (2,900,000) (150,000) (380,000) $570,000 Based on the information for K. Jackson Corporation, the current and acid-test ratios are, respectively. OA2.37 and 1.39. OB2 37 and 1.27 OC2 18 and 1.39 OD.2 18 and 1.27 OE None of the above.
Comparative data from the statement of financial position of Munchies Ltd. are shown below. Current assets Property, plant, and equipment Goodwill Total assets Current assets Property, plant, and equipment Total assets 2021 $1,519,000 2021 3,114.000 $4.730,000 % %6 97,000 2020 $1,164.000 2,827,000 107,000 $4,098,000 Using horizontal analysis, calculate the percentage of the base-year amount, using 2019 as the base year. (Round answers to 1 decimal place, e.g. 52.7%) 2020 2019 % $1,227,000 2.871,000 -0- $4,098,000 2019
Following this balance sheet of chevron's company, provide me with a horizontal analysis comparative balance sheets.
Given the following information pulled from a firm's financial statements, what is their Asset Turnover ratio? (round to the nearest two decimal places; 1.037 = 1.04) Total Liabilities Sales Revenue Net Operating Income 5,813,082 10,279,452 5,891,671 Current Assets 2,648,145 Total Stockholder Equity Current Liabilities 1,879,832 5,068,098
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales Costs Taxable income Taxes (22%) Net income Dividends Addition to retained earnings $2,600 5,200 $45,000 35,000 $10,000 2,200 $ 7,800 The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank - be certain to enter "O" whenever the item is not a constant percentage of sales. Enter each answer as a percent rounded 2 decimal places, e.g., 32.16.)
Additionally, the company informed the following: Net income = $156,042 Sales = $4,063,589 Determine the following values for the company: Total asset turnover ratio _____________ Fixed asset turnover ratio _____________
Practice Problem Below are the balance sheet and income statement for Major, Inc. December 31 2007 2006Cash $ 29,700 $ 10,200 Accounts receivable (net) 53,400 20,300 Inventory 39,000 42,000 Long-term investments 0 15,000 Plant Assets, net of depreciation 180,900 125,000 Total Assets $303,000 $212,500Accounts payable $ 16,000 $ 26,500 Accrued liabilities 28,000 17,000 Long-term notes payable 40,000 50,000 Common stock 150,000 90,000 Retained earnings 69,000 29,000 Total Liabilities and Owner’s Equity $303,000 $212,500Year ended December 31, 2007Sales Revenue $340,000 Cost of Goods Sold (200,000) Operating Expenses (58,400) Depreciation Expense (10,600) Gain on sale of investments 4,000Net Income $ 75,000Additional information: A) In 2007, Major, Inc didn’t sell plant asset and didn’t purchase additional investment.B) In 2007, no shares were repurchased and no new debt was issued. 1. Prepare the Statement of Cash Flows…
Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Depreciation Net plant and equipment Other long-term assets Total Total assets Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) 2821 $ 75 115 200 $390 ROA ROE $580 110 $470 50 $520 $910 Less: Depreciation Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings Per (common) share data: 96 96 Earnings before interest, taxes, depreciation, and amortization (EBITDA) 2020 $ 65 110 198 $365 DuPont Analysis times times $471 100 $371 LAK OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2021 and 2020…
Calculate the total asset turnover (sales / total assets) for the firm below. Sales 5000 COGS $1,200 Depreciation $800 Interest $500 Net Income $200 Total Assets 1400
Calculate the profit margin (net income / sales) for the firm below. Sales 1700 COGS $1,200 Depreciation $800 Interest $500 Net Income 900 Total Assets $5,000