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Question - Analysis of Financial Statement and Cash Flow - The balance sheet and income statement for the Changlun Company are as follow: Balance Sheet (RM'000) RM Cash 500 Account receivable 2,000 Inventories 1,000 Current assets 3,500 Net fixed assets 4,500 Total assets 8,000 Account payable 1,100 Accrued expenses 600 Shorts-term notes payable 300 Current liabilities 2,000 Long-term debt 2,000 Owners' equity 4,000 Total liabilities and owner's equity 8,000 Income Statement (RM'000) RM Net sales (all credit) 8,000 Cost of good sold (3,300) Gross profit 4,700 Operating expenses1 (3,000) Operating income 1,700 Interest expenses (367) Earning before taxes (1,333) Income taxes (40%) (533) Net income 800 1 Includes depreciation expense of RM500 for the year.
Calculate the following ratios: 1. Current ratio 2. Debt Ratio 3. Time interest earned 4. Average collection period 5. Inventory turnover 6. Fixed assets turnover 7. Total asset turnover 8. Gross profit margin 9. Operating profit margin 10. Retun on equity 11. Operating income return on investment?
In 2021, Parkette reported cost of goods sold of $550,000 while Skybox reported $267,500. What is the consolidated cost of goods sold in 2021?
A translation adjustment must be calculated and disclosed whenever financial statements of a foreign subsidiary are translated into the parent's reporting currency
The fund pays interest at 4% compounded annually. What is the balance of the fund at the end of 2015 (after the 2015 deposit)?
How much total bond interest expense will be recognized over the life of these bonds? Record the journal entry at the time of the sale
computation of depreciation under various methods.jon seceda furnace corp. purchased machinery for 315000 on may 1
Prepare general journal entries to record the transactions for the period 1 July 2017 to 30 September 2019 (Willis Ltd's financial year ends on 30 June annually
How many years will it take for RM29,916 to grow to be RM554,000 if it is invested in an account with a quoted annual interest rate of 12% with semi-annual compounding of interest?
Suppose we were to change asset depreciation on buildings and the furniture and equipment from 5% and 10% to 4% and 8%, respectively. What would be the effect on net income? Is the adjusting entry process an exact science by which accountants can det..
How Explain the emerging importance of Integrated Reporting and discuss how Integrated Reporting can address the disclosure needs and expectations
There is no preferred stock. The number of outstanding shares equals 1,500,000. Estimate the per share price of Milford common stock
Prepare journal entries for December 26 and December 31 under all methods. Prepare inventory records using: The FIFO method
Evaluate the basis of each shareholder's stock in the new corporation. Determine the basis of each property in the hands of the corporation.
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