Chapter 1, Problem 15DQ

Question 3Footfall Manufacturing Ltd. reports the following financialinformation at the end of the current year: Net Sales  $100,000 Debtor's turnover ratio (based on net sales) 2 Inventory turnover ratio  1.25 fixed assets turnover ratio  0.8 Debt to assets ratio  0.6 Net profit margin 5% gross profit margin 25% return on investments  2% Use the given information to fill out the templates for incomestatement and balance sheet given below: Income Statement of Footfall Manufacturing Ltd. for the year endingDecember 31, 20XX(in $) Sales  100,000 Cost of goods sold    gross profit    other expenses    earnings before tax   tax @ 50%   Earnings after tax      Balance Sheet of Footfall Manufacturing Ltd. as at December 31, 20XX(in $)  Liabilities Amount  Assets  Amount  Equity    Net fixed assets    long term debt  50,000 Inventory   short term debt    debtors        cash    Total    Total

i need correct answer of this general accounting question

Stockholders' equity increased

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stockholders' equity for Summit Enterprises is

Financial Accounting

Question 4Waterfront Inc. wishes to borrow on a short-term basis withoutreducing its current ratio below 1.25. At present its current assetsand current liabilities are $1,600 and $1,000 respectively. How muchcan Waterfront Inc. borrow?

Question 6During 2019, Bitsincoins Corporation had EBIT of $100,000, a changein net fixed assets of $400,000, an increase in net current assets of$100,000, an increase in spontaneous current liabilities of $400,000,a depreciation expense of $50,000, and a tax rate of 30%. Based onthis information, what is Bitsincoin’s free cash flow?

Cariveh Co sells automotive supplies from 25 different locations in one country. Each branch has up to 30 staff working there, although most of the accounting systems are designed and implemented from the company's head office. All accounting systems, apart from petty cash, are computerised, with the internal audit department frequently advising and implementing controls within those systems.Cariveh has an internal audit department of six staff, all of whom have been employed at Cariveh for a minimum of five years and some for as long as 15 years. In the past, the chief internal auditor appoints staff within the internal audit department, although the chief executive officer (CEO) is responsible for appointing the chief internal auditor.The chief internal auditor reports directly to the finance director. The finance director also assists the chief internal auditor in deciding on the scope of work of the internal audit department.You are an audit manager in the internal audit department…