Calculate the current ratio of Corporation R at ( 1 ) the beginning of the year and ( 2 ) the end of the year.

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Answer 1

Question

Chapter 14, Problem 7BP

a.

To determine

Calculate the current ratio of Corporation R at (1) the beginning of the year and (2) the end of the year.

b.

To determine

Calculate the working capital of Corporation R at (1) the beginning of the year and (2) the end of the year.

c.

To determine

Explain whether the company’s short-term debt-paying ability improving or deteriorating.

d.

To determine

Calculate the (1) return on average total assets and (2) return on average stockholders’ equity of Corporation R.

e.

To determine

Explain whether the management of Corporation R is utilizing the resources in a reasonably efficient manner from the viewpoint of equity investor.

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PART 2. (22 marks) Mangal Furnishings produce serving trays for the tourist industry in a five-stage process - Cutting & Shaping, Assembly, Sanding, Finishing and Packaging. Upon entering the finishing process, before the trays are stained and polished, a specialized piece of equipment is used to engrave a logo on each tray. After Packaging, the trays are sent to the business warehouse for delivery to customers. The following data relates to the Finishing Process for the month of March during which 3,800 trays valued at $597.90 each were transferred in from the Sanding Process. Other production costs incurred during the month are summarized as follows: Direct Materials Added Direct Manufacturing Wages Hireage cost of specialized logo equipment Manufacturing Overhead $343,380 $830,150 $21,300 $412,100 Process inspection occurs during the process and normally 2% of the trays entering the Finishing process are rejected and sold as scrap to local retailers at $750 each. During the month…

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Answer 2

Question

Chapter 14, Problem 7BP

a.

To determine

Calculate the current ratio of Corporation R at (1) the beginning of the year and (2) the end of the year.

b.

To determine

Calculate the working capital of Corporation R at (1) the beginning of the year and (2) the end of the year.

c.

To determine

Explain whether the company’s short-term debt-paying ability improving or deteriorating.

d.

To determine

Calculate the (1) return on average total assets and (2) return on average stockholders’ equity of Corporation R.

e.

To determine

Explain whether the management of Corporation R is utilizing the resources in a reasonably efficient manner from the viewpoint of equity investor.

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Answer 3

Question

Chapter 14, Problem 7BP

a.

To determine

Calculate the current ratio of Corporation R at (1) the beginning of the year and (2) the end of the year.

b.

To determine

Calculate the working capital of Corporation R at (1) the beginning of the year and (2) the end of the year.

c.

To determine

Explain whether the company’s short-term debt-paying ability improving or deteriorating.

d.

To determine

Calculate the (1) return on average total assets and (2) return on average stockholders’ equity of Corporation R.

e.

To determine

Explain whether the management of Corporation R is utilizing the resources in a reasonably efficient manner from the viewpoint of equity investor.

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Answer 4

Question

Chapter 14, Problem 7BP

a.

To determine

Calculate the current ratio of Corporation R at (1) the beginning of the year and (2) the end of the year.

b.

To determine

Calculate the working capital of Corporation R at (1) the beginning of the year and (2) the end of the year.

c.

To determine

Explain whether the company’s short-term debt-paying ability improving or deteriorating.

d.

To determine

Calculate the (1) return on average total assets and (2) return on average stockholders’ equity of Corporation R.

e.

To determine

Explain whether the management of Corporation R is utilizing the resources in a reasonably efficient manner from the viewpoint of equity investor.

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Answer 5

Chapter 14, Problem 7BP

a.

To determine

Calculate the current ratio of Corporation R at (1) the beginning of the year and (2) the end of the year.

b.

To determine

Calculate the working capital of Corporation R at (1) the beginning of the year and (2) the end of the year.

c.

To determine

Explain whether the company’s short-term debt-paying ability improving or deteriorating.

d.

To determine

Calculate the (1) return on average total assets and (2) return on average stockholders’ equity of Corporation R.

e.

To determine

Explain whether the management of Corporation R is utilizing the resources in a reasonably efficient manner from the viewpoint of equity investor.

Answer 6

Chapter 14, Problem 7BP

a.

To determine

Calculate the current ratio of Corporation R at (1) the beginning of the year and (2) the end of the year.

Answer 7

Chapter 14, Problem 7BP

a.

To determine

Calculate the current ratio of Corporation R at (1) the beginning of the year and (2) the end of the year.

Answer 8

b.

To determine

Calculate the working capital of Corporation R at (1) the beginning of the year and (2) the end of the year.

Answer 9

b.

To determine

Calculate the working capital of Corporation R at (1) the beginning of the year and (2) the end of the year.

Answer 10

c.

To determine

Explain whether the company’s short-term debt-paying ability improving or deteriorating.

Answer 11

c.

To determine

Explain whether the company’s short-term debt-paying ability improving or deteriorating.

Answer 12

d.

To determine

Calculate the (1) return on average total assets and (2) return on average stockholders’ equity of Corporation R.

Answer 13

d.

To determine

Calculate the (1) return on average total assets and (2) return on average stockholders’ equity of Corporation R.

Answer 14

e.

To determine

Explain whether the management of Corporation R is utilizing the resources in a reasonably efficient manner from the viewpoint of equity investor.

Answer 15

e.

To determine

Explain whether the management of Corporation R is utilizing the resources in a reasonably efficient manner from the viewpoint of equity investor.

Answer 16

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Answer 17

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Answer 18

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Answer 19

Ch. 14 - Prob. 1STQ Ch. 14 - Prob. 2STQ Ch. 14 - Prob. 3STQ Ch. 14 - Prob. 4STQ Ch. 14 - 5. Evans Corporation’s net income was $400,000 in...Ch. 14 - Prob. 6STQ Ch. 14 - Prob. 7STQ Ch. 14 - Prob. 1DQ Ch. 14 - Prob. 2DQ Ch. 14 - 3. Distinguish between trend percentages and...

Calculate the current ratio of Corporation R at ( 1 ) the beginning of the year and ( 2 ) the end of the year.

Calculate the current ratio of Corporation R at (1) the beginning of the year and (2) the end of the year.

Calculate the working capital of Corporation R at (1) the beginning of the year and (2) the end of the year.

Explain whether the company’s short-term debt-paying ability improving or deteriorating.

Calculate the (1) return on average total assets and (2) return on average stockholders’ equity of Corporation R.

Explain whether the management of Corporation R is utilizing the resources in a reasonably efficient manner from the viewpoint of equity investor.

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