The following information was taken from Finch Corporation's SEC filings.Fiscal Year EndedOctober 1, 2017October 2, 2016268,000$ 32,5166,487 square feet$ 14,55112,886$ 4,918Number of employeesRevenues (in millions)Properties (in thousands)Total assets (in millions)Company-owned storesNet earnings (in millions)312,000$33,5876,532 square feet$14,60430,775$4,985Requireda. Indicate whether each line of information in the table above would best be described as being primarily financial accounting ormanagerial accounting in nature.c.&d. Based on the data identified as financial or managerial in nature from requirement (a), does it appear that Finch's 2017 fiscal yearwas better or worse than its 2016 fiscal year?e. Calculate the revenue and earnings per employee and per thousand feet to determine which year (2017 or 2016) Finch appearedto be using its facilities more efficiently.Complete this question by entering your answers in the tabs below.Req C and DReq EReq ABased on the data identified as financial or managerial in nature from requirement (a), does it appear that Finch 2017fiscal year was better or worse than its 2016 fiscal year?Financial accountingManagerial accountingReq AReq E

Financial accounting:Financial accounting is the process of recording, summarizing, and reporting…

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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 information pertains to Tonton Company for the year ended December 31, 2015: Net monetary assets - January 1 P 880,000 Sales 3,900,000 Purchases 2,340,000 Expenses 975,000 Income tax 585,000 Cash dividends paid on December 31, 2015 200,000 The sales, purchases, expenses and income tax accrued evenly throughout the year. Selected general price index numbers are 110 on January 1 and 280 on December 31. What is the gain or loss on purchasing power during the year?
19. A listing of the estimated balances in the company's ledger accounts as of December 31, 2023 is given below (as well as in your Excel template): Cash Accounts receivable Inventory-raw materials Inventory-finished goods Capital assets (net) Assets $ 83,365 1,122,900 10,000 9,125 724,000 $1,949,390 Total assets Liabilities and Shareholders' Equity Accounts payable $ 231,563 Capital stock 1,000,000 Retained Earnings Total liabilities and shareholders' equity 717,828 $1,949,390 Required: 1. Prepare a monthly master budget for ToyWorks for the year ended December 31, 2024, including the following schedules (Use the Excel template provided!): Sales Budget & Schedule of Cash Receipts Production Budget & Manufacturing Overhead Budget Direct Materials Budget & Schedule of Cash Disbursements Direct Labour Budget Selling and Administrative Expense Budget Ending Finished Goods Inventory Budget Cash Budget 2. Prepare budgeted financial statements at December 31, 2024, using absorption costing.
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Bethesda Mining Company has $445,900.50 worth of Total assets and $202,860 worth of Total Equity. Suppose that they had sales of $2,945,376 and net income of $40,206.85 for the year ending December 31, 2016. Calculate the DuPont identity. Select one: a.15% b.19.82% c.21.12% d.8.919%
The following are extracted from the financial statements of Shawn Co., for 2019, 2018, and 2017. 2019 $233,000 2018 $204,000 (110,000) (81,500) 2017 Net sales Cost of sales (124,000) (95,000) Selling and administrative expenses Other income: (3,700) (3,050) 1,175 $ 10,625 (4,740) 5,885 1,510 $ 7,395 Interest Other 100 Earnings before tax and extraordinary credit Provision for income tax Earnings before extraordinary credit Extraordinary credit $ 10,400 (4,800) 5,600 $ 5,600 Total assets $202,000 24,600 $173,000 $161,000 Long-term debt Common equity Preferred stock Preferred dividends 17,400 15,200 112,800 123,000 4,000 280 116,800 4,000 4,000 280 280 Required: Compute the following ratios for Shawn Co. for 2019 and 2018. Net profit margin 1. 2. Total asset turnover 3. Return on assets 4. Return on investment Return on total equity Return on common equity Gross profit margin 5. 6. 7. Discuss the trend in profitability and identify specific causes for the trend.
Samuel Corp. has provided the following information for the year ended December 31, 2018. Samuel Corp Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Inc/(dec) Current Assets: Cash $33,000 $13,000 $20,000 Accounts Receiveable 29,000 36,000 (7,000) Inventory 56,000 29,000 27,000 Plant Assets, net 126,000 92,000 34,000 Total Assets $244,000 $170,000 $74,000 Accounts Payable $9,000 $13,000 $(4,000) Accrued Liabilities 7,000 3,000 4,000 Long-Term Notes Payable 70,000 79,000 (9,000) Total Liabilities 86,000 95,000 (9,000) Common Stock $55,000 $3,000 $52,000 Retained Earnings 115,000 78,000 37,000 Treasury Stock (12,000) (6,000) (6,000) Total Stockholders' Equity $158,000 $75,000 $83,000 Total Liabilities and Stockholders Equity $244,000 $170,000 $74,000 Samuel Corp Income…
what is the return in assets for each year?
Financial statements for Asklew Industries for 2021 are shown below (in thousands) 2021 Income Statement Net sales $ 8,900 Cost of goods sold (6,225) Gross profit 2,675 Operating expenses (2,025) Interest expense (170) Income tax expense (192) Net Income $ 288 Comparative Balance Sheets Dec. 31…
The following is a summary of information presented on the financial statements of a company on 31 December 2020. Account 2020 2019 Current assets $68,000 $52,000 Accounts receivable 84,000 80,000 Inventory 52,000 41,000 Current liabilities 76,000 49,000 Non-current liabilities 32,000 55,000 Share capital 51,000 42,000 Retained earnings 45,000 27,000 Sales revenue $526,000$501,000 Cost of sales 402,000 400,000 Gross profit $124,000$101,000 Selling expenses 47,000 51,000 Profit before income tax $77,000 $50,000 Income tax expense 24,000 $16,900 Profit $53,000 $33,100 What would a horizontal analysis report show with respect to Current liabilities? Select one: a. a 35.53% increase in Current Liabilities O b. Current Liabilities are 37.25% of total capital. O c. a 55.1% increase in Current Liabilities O d. a current ratio of 0.89
Below are the 2014 and 2015 year-end balance sheets for Tran Enterprises: Assets: 2015 2014 Cash $ 200,000 $ 170,000 Accounts receivable 864,000 700,000 Inventories 2,000,000 1.400,000 Total current assets $3,064,000 $2,270,000 Net fixed assets 6,000,000 5,600,000 Total assets $9,064,000 $7,870,000 Liabilities and equity: Accounts payable $1,400,000 $1,090,000 Notes payable to bank 1,600,000 1,800,000 Total current liabilities $3.000,000 $2,890,000 Long-term debt 2,400,000 2,400,000 Common stock 3,000,000 2,000,000 Retained earnings 664.000 580,000 Total common equity $3,664,000 $2,580,000 Total liabilities and equity $9,064,000 $7,870,000 The firm has never paid a dividend on its common stock, and issued $2.400.000 of 10-ycar, non-callable, long-term debt in 2014. As of the end of 2015, none of the principal on this debt had been repaid. Assume that the company's sales in 2014 and 2015 were the same. Which of the following statements must be CORRECT? Select one: The firm issued new…
Birtle Corporation reports the following statement of financial position information for 2017 and 2018. Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Assets 2017 $9,279 23,683 42,636 $ 75,598 $272,047 $347,645 BIRTLE CORPORATION 2017 and 2018 Statement of Financial Position 2018 $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 Current liabilities Accounts payable Notes payable Liabilities and Owners? Equity Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity 2017 $ 41,060 16,157 $57,217 $ 40,000 $,50,000 200,428 $250,428 $347,645 2018 $ 43,805 16,843 $ 60,648 $ 35,000 $ 50,000 236,167 $286,167 $381,815 For each account on Birtle Corporation's statement of financial position, show the change in the account during 2018 and note whether this change was a source or use of cash. (If there is no action select "None" from the dropdown options. Do not leave…
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