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Liquidity and Profitability Ratios
Julio Company has had poor operating results for the past two years. As Julio's accountant, you have the following information available to you:
Total assets and stockholders' equity at the beginning of 2013 were $90,000 and $80,000, respectively. Assume that there was a dividend distribution in 2013.
1. Compute the following measures of liquidity for 2013 and 2014: (a) working capital and (b) current ratio. Round your current ratio values to one decimal place.
2. Compute the following measures of profitability for 2013 and 2014: (a) profit margin, (b) asset turnover, (c) return on assets, (d) debt to equity ratio, and (e) return on equity. Round your answers to one decimal place.
dreamco has a financial statement income of 90 million in 2013. in this 90 million are 1 million in mealsentertainment
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abis corporation uses the weighted-average method in its process-costing system. this month the beginning inventory in
As the assistant CFO, Susie has asked you to research the issue and make sure we will be following appropriate reporting standards
minor inc. had revenue of 572000 and expenses of 282000 for the current year. the company is subject to a 35 percent
Use this information to prepare the General Journal entry (without explanation) for March 31. If no entry is required then write "No Entry Required."
when doing a single step income statement how do you find income taxes expense. the only information it gave me was
The company estimated a 10-year useful life for the patent and uses the straight-line amortization method for all intangible assets. In 2014, Vega spent $40,000 in legal fees for an unsuccessful defense of the patent. The amount charged to income ..
corin corporation is considering the purchase of a machine that would cost 420000 and would last for 8 years. at the
Soap Corporation issued a $350,000, 6% 15-year mortgage note to obtain needed financing for new office. The terms of the note call for semiannual payments of $17,857 each. Prepare the entries to record the mortgage loan and the first installment.
Using the closeout to the COGS method, determine the over or underapplied overhead and show the journal entry to close the manufacturing overhead account
On May 2, 1987, Hannah acquired residental real estate for $450,000. Of the cost, $100,000 was allocated to the land and $350,000 to the building. On August 20, 2015, the building, which then had an adjusted basis of $0, was sold for $545,000 a..
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