Problemuse the following selected data from business

Assignment Help Financial Accounting

Reference no: EM13376942

Problem

Use the following selected data from Business Solutions' income statement for the three months ended March 31, 2012, and from its March 31, 2012, balance sheet to complete the requirements before computer services revenue, $25,307; net sales (of goods), $18,693; total sales and revenue, $44,000; cost of goods sold, $14,052; net income, $18,833; quick assets, $90,924; current assets, $95,568; total assets, $120,268; current liabilities, $875; total liabilities, $875, and total equity, $119,393.

Questions:

1. Compute the gross margin ratio (both with and without services revenues) and net profit margin ratio.

2. Compare the current ratio and acid-test ratio.

3. Compute the debt ratio and equity ratio.

4. What percent of its assets are current? What percent are long term?

Reference no: EM13376942

Questions Cloud

Santana rey is considering the purchase of equipment for : santana rey is considering the purchase of equipment for business solutions that would allow the company to add a new

Problemsantana rey expects second quarter 2012 sales of her : problemsantana rey expects second quarter 2012 sales of her new line of computer furniture to be the same as the first

After reading an article about activity-based costing in a : after reading an article about activity-based costing in a trade journal for the furniture industry santana rey

The computer workstation furniture manufacturing that : the computer workstation furniture manufacturing that santana rey started january is progressing well. as of the end of

Problemuse the following selected data from business : problemuse the following selected data from business solutions income statement for the three months ended march 31

Problemwhile reviewing the march 31 2012 balance sheet of : problemwhile reviewing the march 31 2012 balance sheet of business solutions santana rey notes that the business has

Problem santana rey created business solutions on october 1 : problem santana rey created business solutions on october 1 2011. the company has been successful and santana plans to

Find a newspaper article or web page report of an item of : find a newspaper article or web page report of an item of accounting news i.e. it refers to a current event

Find the comments letters received on a current exposure : find the comments letters received on a current exposure draft or proposal for a new accounting standard. these can be

User Account

All Pages