The summary data of the ABC Car Rental for December 2019 is presented below in an equation form: Assets = T. No. Liabilities Owner's Equity Cash + Acc Receivable + Supplies + Furniture + Shared Capital + Retained Earnings +Rev -Exp -Divid +10,000 +10,000 + 2,500 +2,500 1,100 -1,100 1,500 +8,000 +6,500 +3,000 +3,000 Which of the following statements describe Item 1? Select one: Oa. Income recorded as accrual revenue. Ob. None of the above.

The summary data of the ABC Car Rental for December 2019 is presented below in an equation form: Assets = T. No. Liabilities Owner's Equity Cash + Acc Receivable + Supplies + Furniture + Shared Capital + Retained Earnings +Rev -Exp -Divid +10,000 +10,000 + 2,500 +2,500 1,100 -1,100 1,500 +8,000 +6,500 +3,000 +3,000 Which of the following statements describe Item 1? Select one: Oa. Income recorded as accrual revenue. Ob. None of the above.

Financial Accounting

15th Edition

ISBN:9781337272124

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

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

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....

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ned Aldani The summary data of the ABC Car Rental for December 2019 is presented below in an equation form: Assets = Liabilities Owner's Equity T. No. Cash + Acc Receivable + Supplies + Furniture + Shared Capital + Retained Earnings +Rev -Exp -Divid +10,000 +10,000 +2,500 + 2,500 1,100 1,100 1,500 + 8,000 +6,500 +3,000 +3,000 Which of the following statements describe Item 1? Select one: Oa. Income recorded as accrual revenue. Ob. None of the above. Oc. An investment was made by the owner. O d. Income from car rental was recorded.
Required:a. Calculate the following ratios for Sweets plc for 2021 and 2020, showing the formulas and workings:4- Net profit margin5- Asset turnover6- Stock holding days7- Debtors collection period8- Current ratio9- Gearing ratio10- Interest cover
The following data were taken from Mesa Company's balance sheet: Dec. 31, 2019 Dec. 31,2018 $518,000 Total liabilities $547,800 Total owner's equity 415,000 370,000 a. Compute the ratio of liabilities to owner's equity b. Has the creditor's risk increased or decreased from December 31, 2018, to December 31, 2019?
Analyze the financial statements of the company to you in terms of: 1. Debt Management Ratio * TIE Ratio or Time Interest Earned Ratio 2. Asset Management Ratio *Inventory Turnover Ratio *Fixed Asset Turnover Ratio *Total Asset Turnover Ratio 2020 Analysis BUT also compare with 2018 - 2019. Show solution on computaion.
J-Mark Superstores provides the following selected financial data. Cash and cash equivalents Short-term investments Accounts receivable Inventory Property, plant and equipment Long-term investments Total asset Total liabilities Total stockholders' equity Net sales Operating income Interest expense Investment income Calculate the return on investments ratio for 2024. Note: Round your answer to 1 decimal place. 2024 $ 852,540 45,050 1,120,545 2,812,020 4,212,686 96,555 9,139,396 4,204,122 4,935,274 15,579,865 5,452,953 157, 655 5,947 X Answer is complete but not entirely correct. Return on investments ratio 4.2 X % 2023 $ 750,235 39,194 1,030,901 2,615,179 3,749,291 82,072 8,266,871 3,968,098 4,298,773 13,710,281 4,661,496 148,804 4,851
Given below is AU Chiefs Company’s financial statements. Compute for the financial rations and showthe solutions in a sheet of paper.1. Expenses to sale ratio2. Return on assets3. Return on Equity4. Asset Turnover ratio 2020 2019 Cash 122,500 104,700 Accounts Receivable 90,650 80,550 Inventory 66,200 53,000 Prepaid Expense 85,450 106,000 Total Current Assets 364,800 344,250 Property, Plant and Equipment 925,000 786,350 TOTAL ASSETS 1,654,600 1,475,350 Total Current Liability 381,500 423,350 Long-term Liabilities 359,900 230,600 Mabini, Capital 913,200 821,400 Total Liability and Equity 1,654,600 1,475,350 Sales 1,047,050 1,151,755 Cost of Sales 322,750 355,025 Gross Profit 724,300 796,730 Selling Expenses 353,250 388,575 Administrative Expenses 128,150 140,965 Operating Income 242,900 267,190 Interest Income…
Calculate the following ratios for 2025 and 2026. (Round current ratio to 2 decimal places, e.g. 12.61, debts to assets and gross profit rate to 0 decimal places, e.g.12, and all other answers to 1 decimal place, e.g. 12.6%) Please show your work. 1. Current ratio 2. Debts to assets 3. Gross profit rate 4. Profit margin 5. Return on assets (Total assets at November 1, 2024, were $35,180) 6. Return on common stockholder's equity (Total common stockholders' equity at November 1, 2024, was $25, 180. Dividends on preferred stock were $16,800 in 2025 and $18,000 in 2026)
Give the last two entries (drawings and profit share).
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Which of the following provides information about how many months of living expenses you can cover with your present level of liquid assets? OA Liquidity Ratio O B. Current Ratio OC. Savings Ratio OD. Debt-to Asset Ratio
A) Given the balance sheet and income statement, calculate the ratios below. Liquidity 2018 2019 Current ratio _______ _______ Days cash on hand _______ _______ Capital Structure Equity Financing _______ _______ Times Interest Earned _______ _______ Turnover Total Asset _______ _______ Fixed Asset _______ _______ Current Asset _______ _______ Profitability Total Margin _______ _______ Return on Assets _______ _______ Return on Equity _______ _______ B) Comment on the change in return on equity between 2018 and 2019, why did it increase? 2018 2019 2018 2019…
he following data were taken from Alvarado Company’s balance sheet: OBJ. 6 Dec. 31, 2019 Total liabilities $4,085,000 Total owner’s equity 4,300,000 Compute the ratio of liabilities to owner’s equity. Dec. 31, 2018 $2,880,000 3,600,000 a. b. Has the creditor’s risk increased or decreased from December 31, 2018, to December 31, 2019?