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Problem: The following information pertains to Walrus Inc.
Cash
$60,000
Accounts receivable
170,000
Inventory
100,000
Plant assets (net)
582,000
Total assets
$912,000
Accounts payable
$110,000
Accrued taxes and expenses payable
42,000
Long-term debt
120,000
Common stock ($10 par)
260,000
Paid-in capital in excess of par
50,000
Retained earnings
330,000
Total equities
Net sales (all on credit)
$2,000,000
Cost of goods sold
1,400,000
Net income
Required: Compute the following: (ignore Avg for balance sheet accounts)
(a) Current ratio
(b) Inventory turnover
(c) Receivables turnover
(d) Book value per share
(e) Earnings per share
(f) Debt to total assets
(g) Profit margin on sales
(h) Return on common stock equity
arreaga corp. has a tax rate of 40 percent and income before non-operating items of 928000. it also has the following
assertions are expressed or implied representations by management that are reflected in the financial statement
Yukon Delivery Service is owned and operated by Betty Pasha. The following selected transactions were completed by Yukon Delivery Service during June:
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Write the answers to the following problems in the Working Papers. Your instructor will guide you through the following examples.
The unadjusted trial balance for Sierra Corp. is shown in Illustration 4-4. In lieu of the adjusting entries shown in the text at October 31, assume the following adjustment data.
What are the 2 methods that companies implement to adjust the outstanding accounts receivable for the current accounting period? How often is this done?
What are the pros and cons of lending to my next door neighbor rather than putting my surplus funds in a bank?
TirLrnan Doughnuts has current amts of €270 million; property plant and equipment of €470 million; Use these data to write Tim-man's accounting equation
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