Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Problem 1
The balance sheet for the Bryan Corporation is shown below. Sales for the year were $3,680,000, with 75 percent of sales sold on credit.
BRYAN CORPORATION Balance Sheet 201X
Assets
Liabilities and Stockholders' Equity
Cash
$
21,000
Accounts payable
222,000
Accounts receivable
324,000
Accrued taxes
93,000
Inventory
244,000
Bonds payable (long-term)
194,000
Plant and equipment
461,000
Common stock
100,000
Paid-in capital
150,000
Retained earnings
291,000
Total assets
1,050,000
Total liabilities and stockholders' equity
Compute the following ratios
(a) Current ratio (b) Quick ratio (c) Debt-to-total-assets ratio
(d) Asset turnover (e) Average collection period days
Problem 2
Using the income statement for J. Lo Wedding Gowns, compute the following ratios:
J. LO WEDDING GOWNS Income Statement
Sales
281,000
Less: Cost of goods sold
169,000
Gross profit
112,000
Less: Selling and administrative expense
44,800
Less: Lease expense
17,500
Operating profit*
49,700
Less: Interest expense
8,100
Earnings before taxes
41,600
Less: Taxes (30%)
16,640
Earnings after taxes
24,960
*Equals income before interest and taxes.
(a) Compute the interest coverage ratio.
(b) Compute the fixed charge coverage ratio.
(c) The total assets for this company equal $211,000. Compute the return on assets (investment).
The beginning inventory for Packaging consisted of 10,000 units that were 50% complete as to conversion costs and fully complete as to materials. During October, 50,000 units were started into production in the Mixing
Jill and George are married and file a joint return. They expect to have $410,000 of taxable income in the next year and are considering whether to purchase a personal residence that would provide additional tax deductions of $80,000 for mortgage ..
Knowledge about the behavior pattern of a cost is important to understanding the effect on net income of a change in sales volume because as sales volume changes and When a firm has financial leverage
Effect of hosting the basketball game and effect of sale of season tickets
Prepare Sunday Starr's cash budget for January and February in columnar format.
Evaluate the 2010 cash-basis net income and evaluate the 2010 accrued-basis net income (show calculations)
investment strategy is to purchase the stock of the company that has a low price/earnings ratio but appears to be in good shape financially. Assume that you analyzed all other factors and your decision depends in the results of the ratio analysis ..
Determine the materials price variance (amount and favorable or unfavorable)? Evaluate materials quantity variance (amount and favorable or unfavorable)? Determine the labor rate variance (amount and favorable or unfavorable)?
Prepare an Excel format to show how you are evaluating things. Provide detailed information of profitability by product and for year. Then make precise recommendations with financial projections.
Evaluate the subsequent amounts for the month of May cost of direct materials used and cost of direct labor used.
Evaluate the cost per cost driver for each of the three cost centers. Use the results from part 1 to allocate costs from each of the three cost centers to both the general surgery and the orthopedic surgery units.
Determine the activity rate (i.e., predetermined overhead rate) for each of the four activity cost pools. (Round your answer to 2 decimal places. Omit the "$" sign in your response. and compute the unit product cost of each product. (Round your ans..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd