ratios
Q: ABC company prepared a master budget based on 100 budgeted sales units with a $100 sales price per…
A: Master Budget: Master Budget is prepared by the company to plan its yearly Revenue and Expenses.…
Q: Mauro Products distributes a single product, a woven basket whose selling price is $28 per unit and…
A: BEP stands for Break even point which is determined through dividing the production fixed cost with…
Q: On January 1, 2024, Chang's Company issued 10% bonds dated January 1, 2024, with a face amount of…
A: Journal entry represents the account where the company records its financial transaction at the…
Q: On may 1, 1990, Auca management decided to establish a 4,000,000 petty cash. With 50,000 maximum…
A: Solution: To establish petty cash fund, petty cash is to be debited and cash is credited To…
Q: The following information is available for Bramble Inc. for 2019: Excess of tax depreciation over…
A: Deferred tax is a tax imposed on corporations that can be deducted in advance or carried forward to…
Q: Westport Co. is a merchandising company that started its business on July 1, 2020. Transactions for…
A: WIRKINGS- JULY 2020 G1 = $22000 X 4% = $880 G2 = $8,000 X 6% = $480 TOTAL…
Q: Unit 8 DB: How to Respond to Requests to Act Unethically A Imagine that you work for a mortgage…
A: Hypothetically answering and speaking - If I were a mortgage broker and were instructed to accept an…
Q: Adiat - Camila Electronics (ACE) sells computers and provides hardware maintenance services. On…
A: Answer Total amount allocated to the computer $1000 × ( $840 / $1200 ) = $700
Q: Required: Calculate the following: a. estimated total cost of completion, b. estimated profit on…
A: 1) estimated total cost of completion the cost actually spent till date = the plant used at site…
Q: Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents…
A: Inventory Turnover Ratio Inventory turnover is a financial ratio showing how…
Q: On 30 June 2005 the company A got an invoice from the company B for the use of office space in the…
A: One of the important concept in accounting is "Accrual". Transactions accrued in the relevant period…
Q: Ray Company provided the following excerpts from its Production Department's flexible budget…
A: The budget is prepared to compare the actual results with budgeted data. The activity variance is…
Q: Discuss two limitations of financial statement analysis and discuss each limitation.
A: Financial statements: These includes the company's statement of profit & loss (Income…
Q: accordance with IAS 36: Impairment of Assets, an entity shall assess at the end of each reporting…
A: As per IAS 36 Impairment of assets An asset is said to be impaired if it's carrying value is…
Q: nly the Final answer without explain On the statement of cash flows, which of the following…
A: Cash flow from investing activity includes transactions like purchasing and selling long-term assets…
Q: For flat-panel TVs, assume the number of households in the U.S. will grow to 150 million. A consumer…
A: A consumer survey predicts that 70% of the households would buy a flat-panel TV at an average price…
Q: Wohoo Publishers uses the allowance method to estimate uncollectible accounts receivables. The…
A: Answer The journal entry to record the write-off of uncollectible receivable 5000 is
Q: net income before taxes and depreciation
A: Any company has to file taxes as specified by the income tax act. However, there might be…
Q: You are shopping and see an item that is normally priced for $900 on sale for 45% off. However, you…
A: Given, Normal price of the item = $900, Discount on sale of item 45%, Sale price = normal price-45%…
Q: On April 1, Marigold Corp. purchased for $1458000 a tract of land on which a warehouse and office…
A: VALUATION OF ASSETS Asset valuation is the process of determining the current value of Organisations…
Q: You purchase a mixed use building in Queens that is expected to generate $845209 net operating…
A: Lets understand the basics. Net income is a income generated after deducting all type of expenses…
Q: nancial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income…
A: Ratio Analysis - Ratio analysis is the study of several financial data points seen in a company's…
Q: Sandra would like to organize LAB (a legal corporation) as either an S corporation or a C…
A: The corporate form of business has different tax structures and rates for levying direct taxes…
Q: You have been appointed as Davis college accountant and, the May 31 bank statement of Davis college…
A: A bank reconciliation statement is a statement that reconciles the balances between the balance as…
Q: 49. The net cash flow for year 4 is a. P35,850 b. P35,950 c. P30,150 d. P36,250
A: 49. Net Cash Flow for the year = Net Income + Depreciation Net Income = (Income before depreciation…
Q: A man paid 10% down payment of P2, 000,000 for a house and lot. If the rate of interest is 15%…
A: PRESENT VALUE Present value, also known as present discounted value, is the value of an expected…
Q: (c) Prepare the entry to record the accrual of interest on December 31, 2021, assuming no previous…
A: Bonds means the instrument where the bond holder gives money to bond issuer and in return bond…
Q: Fruit Salad Company prepared the following bank reconciliation in November: Balance per bank-…
A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…
Q: Chad and Jason Roberts paid $8,500 during the year for childcare for their three children, aged 2, 6…
A: a) Childcare expenses are deductible provided they must be claimed by the parent in a lower tax…
Q: Ma3. Partner's tax basis in his partnership interest at the beginning of the year was $10,000. For…
A: A partnership is a form of business in which two or more person agrees to manage and operate a…
Q: The Diversified Portfolio Corporation provides investment advice to customers. A condensed income…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: Meryam Ahmed has net tax owing for 2016 of $5,000, n $8,000 and estimated net tax owing for 2018 of…
A: Sometime it happens that taxes are due for long period than on the request tax authorities gives…
Q: 2. 1. Layla introduced £50,000 of capital, which was paid into a bank account opened in the name of…
A: Income statement refers to the statement which states the net profit or loss for the period whereas…
Q: QUESTION 60 Which of the following is an example of agency costs? raw material cost cost of labor…
A: QUESTION 60 -Which of the following is an example of agency costs?-raw material cost-cost of…
Q: Potential stockholders and lenders are interested in a company's financial statements. Several…
A: Introduction:- Assets are resources (property) presented in the balance sheet because for it an…
Q: Review the statement of cash flows for Tesla Motors Inc. in ATC 14-1 on page 688. Discuss the cash…
A: Cash flow statement is an important financial statement for a company along with balance sheet and…
Q: Please explain to me Item A and B only. I want to know what rules/formulas I would use for problems…
A: The stockholders' equity represents the owner's claim to the business's net assets and it is…
Q: You desire an annual retirement income of $200,000 in your You expect to live for 30 years past…
A: PV stands for Present value which refers to the amount of money which is invested today and would…
Q: Could some one help me fill in the rest of the eleven column journal? Need help as soon as possible…
A: Journal entry is the basic or initial step into the accounting cycle and it helps in preparing the…
Q: If a taxpayer’s 2022 household income of $60,000 places the taxpayer at 250% of the federal poverty…
A: The federal poverty level (FPL), also known as the "poverty line," is the amount of annualized…
Q: 50 units in beginning inventory with a cost of $300. During the year purchases were made as follows:…
A: Inventory is considered as the current asset and reported under the head current assets in the…
Q: Kwik Ltd (Kwik) runs a unit in Ablekuma Metropolis that has suffered a massive drop in income due to…
A: Impairment of Assets International Accounting Standards (IAS-36) states that whenever a company…
Q: Question 23 Al-Ahmed Co. uses a periodic inventory system. The beginning inventory of a particular…
A: Inventory is valued on the basis of different inventory valuation methods such as LIFO, FIFO, or…
Q: Modern office has 3474487 of credit sales for the year and 59665 of outstanding account receivable…
A: Bad Debt Expenses:— It is expense recorded on income statement when accounts receivable is no longer…
Q: Exercise 4-13 (Static) Preparing a classified balance sheet LO C1 Use the following selected…
A: Classified balance sheet refers to a statement which provides a brief summary of the company’s…
Q: ve one example of an ethical standard from the conceptual framework that accountants have to follow…
A: An accountant is very highly responsible person and he has to follow the rules and regulations and…
Q: 1-55- Question 19 of 50. Malcolm (37) is a U.S. citizen. He was married at the beginning of 2021.…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Which of the following are characteristics of appropriate audit documentation? I. The documentation…
A: Auditors while performing the audit are required to prepare audit documentation as described by the…
Q: There are Six Short-Term Decisions: 1.Pricing 2.Special orders 3.Discontinuing…
A: In managerial accounting, decision making plays an important role as it directly affects the…
Q: In 2022, Draper Company discovered errors made in 2019-2021, its first three years of operation.…
A: Working capital represents the ability of the company to manage its day to day business expenses. It…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Asset Efficiency Ratios Selected financial statement numbers for Rutherford Company follow. Required: 1. Using this information, calculate Rutherfords receivable turnover ratio (rounded to two decimal places.) 2. Using this information, calculate Rutherfords asset turnover ratio (rounded to two decimal places) and also convert the ratio into days (rounded to the nearest whole day).The following information is from Lacy's Inc. $ millions Prior Fiscal Year Current Fiscal Year Net Year-End Assets Revenue Income $21,330 14,403 $18,955 $1,070 a. Compute the asset turnover ratio for the current fiscal year. b. Compute the return on assets ratio for the current fiscal year. Numerator a. Asset Turnover Ratio $ Check b. Return on Assets Ratio $ Numerator Denominator / $ Denominator / $ || Result ResultThe following information was reported by Amuse Yourself Parks (AYP): Net fixed assets (beginning of year) Net Fixed assets (end of year) Net sales for the year Net income for the year Required: Compute the company's fixed asset turnover ratio for the year. Numerator Denominator Fixed Asset Turnover Ratio 11 $ 8,490,000 8,290,000 4,111,100 1,930,000 "1
- EX.17-184.ALGO A company reports the following: Sales Average total assets (excluding long-term investments) Determine the asset turnover ratio. Round your answer to one decimal place. I $7,635,340 1,075,400Compute the following the financial data for the year. 4. Average sale period 5. Operating cycle 6. Total asset turnoverDundee Company reported the following for the current year: Net sales Cost of goods sold Beginning balance of total assets. Ending balance of total assets Compute total asset turnover. Numerator. 1 1 $ 100,800 72,000 127,000 97,880 Total Asset Turnover Denominator: = = = Total Asset Turnover Total asset turnover times
- Return on assets The financial statements of The Hershey Company (HSY) are shown in Exhibits 6 through 9. Based upon these statements, answer the following questions. 1. What are Hershey's sales (in millions)? 2. What is Hershey's cost of sales (in millions)? 3. What is Hershey's net income (in millions)? 4. What is Hershey's percent of the cost of the sales to sales? Round to one decimal place. 5. The percent that a company adds to its cost of sales to determine the selling price is called a markup. What is Hershey's markup percent? Round to one decimal place. 6. What is the percentage of net income to sales for Hershey? Round to one decimal place. 7. Hershey had total assets of $5,554 (millions) at the beginning of the year. Compute the return on assets for Hershey for the year shown in Exhibits 6–9. Round to one decimal place.Selected current year company information follows: Net income. Net sales Total liabilities, beginning-year Total liabilities, end-of-year Total stockholders' equity, beginning-year Total stockholders' equity, end-of-year The total asset turnover is: (Do not round Intermediate calculations.) $ 16,753 720,855 91,932 111, 201 206,935 133,851Given the following information pulled from a firm's financial statements, what is their Asset Turnover ratio? (round to the nearest two decimal places; 1.037 = 1.04) Total Liabilities Sales Revenue Net Operating Income 5,813,082 10,279,452 5,891,671 Current Assets 2,648,145 Total Stockholder Equity Current Liabilities 1,879,832 5,068,098
- Use the following selected balance sheet and income statement information for Stevens Co. to compute asset turnover, to the nearest hundredth of a percent. Operating profit before tax Net Income Average total assets Sales Tax rate on operating profit $120,000 $192,500 $653,000 $1,250,000 35% a. 1.34 b. 1.91 c. 0.52 d. 0.29A company reports the following: Sales $8,296,860 Average total assets (excluding long-term investments) 1,063,700 Determine the asset turnover ratio. Round your answer to one decimal place.fill in the blank 1What are three of the benefits of common-sized analysis using the inverse operating asset turnover (ATO) ratios? a) provides insight into the age of the assets b) the item is expressed as a percentage of current year sales c) is more comparable year-to-year than other methods d) negates the issue with small denominators e) it provides a common denominator for all accounts