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Question - The following data are available in your financial analysis task;
Current ratio 2
A/R turnover ratio 16
A/R, Beginning $50,000
ROE (= NI/TE) 20%
Sales for the year (all on credit) $1,000,000
Days' sales in inventory 36 days
Gross profit on sales 50%
Expenses (excluding CGS) $450,000
TL/TE 1
Noncurrent assets $300,000
Required - Construct the December 31, Year 2 balance sheet for your analysis. All data are as of December 31, Year 2, unless otherwise indicated. That is, complete the balance sheet below. Assume 360 days in a year. Show your work.
How does a flexible budget flex to create a useful budget, how do you think an company can ensure they turn a profit
compumatics specializes in the analysis and reporting of complex inventory costing projects. materials costs are
during 2011 gorilla corporation has net short-term capital gains of 70000 net long-term capital losses of 195000 and
Show how each transaction affects the financial statements by placing a + for increase for decrease, and NA for not affected under each component in a horizontal statements model like the one shown below. Also, in the Cash Flow column, use the letter..
How would the sale affect the amount of total assets shown on the balance sheet (increase, decrease, no effect) and by how much?
GAAP is very detailed and has strict guidelines that US-based companies have to follow in order to have their financial statement
On January 1, 2017, Fairly Company issued 30,000 ordinary shares with a $2 par value for $150,000. Journalize the share transactions of Fairly Company
Based on the information you researched, evaluate the level of responsibility of the company in terms of the effectiveness of the response to the security breach. Provide support for your rationale.
Justine Company budgeted overhead costs at 180,000 for the current period. What was the over or underapplied factory overhead for the period
Please provide an explanation as to why accounting transactions for governmental activities as the governmental-wide level tend to be reported differently than transactions for the General Fund? Could you cite some examples?
Direct entry into the ledger can result in mistakes which may lead to significant financial errors. The general journal also provides a chronological order of the transactions ensuring that the ledger this order is passed on later to the ledger.
Using the high-low method, calculate the fixed cost per month. Calculate the variable cost per unit
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