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1:37 O % O 4G 4 O Statement of Financial Position Deoember 31, 2018 and 2019 2019 2018 Assets 2,030,500.00 2,636,000.00 4,704,000.00 Cash Marketable Securities Accounts Receivable Allowance for Doubtful AccountS Inventories Prepaid Expenses Total Current Assets 1,191,000.00 4,002,000.00 4,383,500.00 224,000.00. 23,520,500.00 256,000.00 32,923,000.00 208,500.00 18,384,500.00 379,500.00 28,132,000.00 Property, Plant and Equipment Less: Accumulated Depreciation 20,303,500.00 5,764,000.00 . 14,539,500.00 13,253,500.00 3,765,000.00 9,488,500.00 Other Assets Total Assets 186,500.00 47,649,000.00 334,000.00 37,954,500.00 Liabilities and Equity Accounts Payable Notes Payable Current Portion of Long-term Debt Acorued Liabilities Deferred Income Tax Long-term Debt Total Liabilities Equity Ordinary Shares Additional Paid-in Capital Retained Earnings Total Liabilities and Equity 7,147,000.00 2,807,000.00 942,000.00 2,834,500.00 421,500.00 10,529,500.00 24,681,500.00 3,795,500.00 3,006,000.00 758,000.00 2,656,500.00 317.500.00 8,487,500.00 19,021,000.00 2,401,500.00 478,500.00 20,087,500.00 47,649,000.00 2,297,000.00 455,000.00 16,181,500.00 37,954,500.00 Aeeredied: Member Avereding Ageneey of Chererel Colegemd Univerniiesof the Pilopines (AACCUP) Pilppine Aianf twierend CllerPANUC Agricaharaf Colleges Asciani f e Pilopies (ACAP Republic of the Philippines CAPIZ STATE UNIVERSITY Fuentes Drive, Roxas Cty, Capiz, Philippines Tel. No. (036) 6214-578 Fax No. (036) 6214-578 website: www.caps.edu.plh email address osas apsa.edu.ph EBC Enterprises Statement of Financial Performance December 31, 2018 and 2019 2019 2018 Net Sales 107,800,000.00 76,500,000.00 Cost of Goods Sold 64,682,000.00 43,118,000.00 33,496,500.00 9,621,500.00 45,939,500.00 30,560,500.00 24,657,500.00 5,903,000.00 Gross Profit Less: Expenses Operating Profit 211,000.00 1,292,500.00 Interest Income 419,000.00 1,138,500.00 Interest Expense Earnings Before Income Taxes Income Taxes Net Income 8,540,000.00 5,183,500.00 3,843,000.00 2,228,500.00 4,697,000.00 2,955,000.00 Required: (Three points (3 pts) will be assigned to each question (1 pt for the formula, 1 pt for solution, and I pt for the correct final answer). 1. Compute the Current Ratio for 2018 and 2019. 2. Compute the Average Inventory and Inventory Turnover. 3. Compute the Working Capital for 2019.

1:37 O % O 4G 4 O Statement of Financial Position Deoember 31, 2018 and 2019 2019 2018 Assets 2,030,500.00 2,636,000.00 4,704,000.00 Cash Marketable Securities Accounts Receivable Allowance for Doubtful AccountS Inventories Prepaid Expenses Total Current Assets 1,191,000.00 4,002,000.00 4,383,500.00 224,000.00. 23,520,500.00 256,000.00 32,923,000.00 208,500.00 18,384,500.00 379,500.00 28,132,000.00 Property, Plant and Equipment Less: Accumulated Depreciation 20,303,500.00 5,764,000.00 . 14,539,500.00 13,253,500.00 3,765,000.00 9,488,500.00 Other Assets Total Assets 186,500.00 47,649,000.00 334,000.00 37,954,500.00 Liabilities and Equity Accounts Payable Notes Payable Current Portion of Long-term Debt Acorued Liabilities Deferred Income Tax Long-term Debt Total Liabilities Equity Ordinary Shares Additional Paid-in Capital Retained Earnings Total Liabilities and Equity 7,147,000.00 2,807,000.00 942,000.00 2,834,500.00 421,500.00 10,529,500.00 24,681,500.00 3,795,500.00 3,006,000.00 758,000.00 2,656,500.00 317.500.00 8,487,500.00 19,021,000.00 2,401,500.00 478,500.00 20,087,500.00 47,649,000.00 2,297,000.00 455,000.00 16,181,500.00 37,954,500.00 Aeeredied: Member Avereding Ageneey of Chererel Colegemd Univerniiesof the Pilopines (AACCUP) Pilppine Aianf twierend CllerPANUC Agricaharaf Colleges Asciani f e Pilopies (ACAP Republic of the Philippines CAPIZ STATE UNIVERSITY Fuentes Drive, Roxas Cty, Capiz, Philippines Tel. No. (036) 6214-578 Fax No. (036) 6214-578 website: www.caps.edu.plh email address osas apsa.edu.ph EBC Enterprises Statement of Financial Performance December 31, 2018 and 2019 2019 2018 Net Sales 107,800,000.00 76,500,000.00 Cost of Goods Sold 64,682,000.00 43,118,000.00 33,496,500.00 9,621,500.00 45,939,500.00 30,560,500.00 24,657,500.00 5,903,000.00 Gross Profit Less: Expenses Operating Profit 211,000.00 1,292,500.00 Interest Income 419,000.00 1,138,500.00 Interest Expense Earnings Before Income Taxes Income Taxes Net Income 8,540,000.00 5,183,500.00 3,843,000.00 2,228,500.00 4,697,000.00 2,955,000.00 Required: (Three points (3 pts) will be assigned to each question (1 pt for the formula, 1 pt for solution, and I pt for the correct final answer). 1. Compute the Current Ratio for 2018 and 2019. 2. Compute the Average Inventory and Inventory Turnover. 3. Compute the Working Capital for 2019.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
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Plppi Aaia of S C acell(PASUC 45,939,500.00 1:37 U v O 4G 4 0 Statement of Financial Position December 31, 2018 and 2019 2019 2018 Assets 2,030,500.00 Cash Marketable Securities 1,191,000.00 4,002,000.00 4,383,500.00 208,500.00 18,384,500.00 379,500.00 28,132,000.00 2,636,000.00 4,704,000.00 Accounts Receivable Allowance for Doubtful Accounts - Inventories 224,000.00 - 23,520,500.00 256,000.00 Prepaid Expenses Total Current Assets 32,923,000.00 20,303,500.00 Property, Plant and Equipment Less: Accumulated Depreciation 13,253,500.00 3,765,000.00 9,488,500.00 5,764,000.00 14,539,500.00 Other Assets Total Assets 186,500.00 47,649,000.00 334,000.00 37,954,500.00 Liabilities and Equity Accounts Payable 7,147,000.00 2,807,000.00 942,000.00 2,834,500.00 3,795,500.00 Notes Payable Current Portion of Long-term Debt 3,006,000.00 758,000.00 2,656,500.00 317,500.00 8,487,500.00 Accrued Liabilities Deferred Income Tax Long-term Debt Total Liabilities 421,500.00 10,529,500.00 24,681,500.00 19,021,000.00 Equity Ordinary Shares Additional Paid-in Capital Retained Earnings Total Liabilities and Equity 2,401,500.00 478,500.00 20,087,500.00 2,297,000.00 455,000.00 16,181,500.00 37,954,500.00 47,649,000.00 Accreditning Ageey of Chartered Colleges amd Uninenities of the Philippines (AACCUP) Pilippine Anaciation of Sute Uiniversities and Colleges(PASUC) Agricainaral Colleges Assecienin of rke Pilypines (ACAP) Accrediled: Member: ir nen Republic of the Philippines CAPIZ STATE UNIVERSITY Fuentes Drive, Roxas City. Capiz, Philippines Tel. No. (036) 6214-578 Fax No. (036) 6z14-578 1980 website: www.caps.cdu.ph email address rosas@capsu.edu.ph EBC Enterprises Statement of Financial Performance December 31, 2018 and 2019 2019 2018 Net Sales 107.800.000.00 76,500,000.00 Cost of Goods Sold 64,682,000.00 45,939,500.00 Gross Profit 43,118,000.00 30,560,500.00 Less: Expenses 33,496,500.00 24,657,500.00 Operating Profit 9,621,500.00 5,903,000.00 Interest Income 211,000.00 419,000.00 Interest Expense 1,292,500.00 1,138,500.00 Earnings Before Income Taxes |Income Taxes 8,540,000.00 5,183,500.00 3,843,000.00 2,228,500.00 Net Income 4,697,000.00 2.955,000.00 Required: (Three points (3 pts) will be assigned to each question (1 pt for the formula, 1 pt for solution, and 1 pt for the correct final answer). 1. Compute the Current Ratio for 2018 and 2019. 2. Compute the Average Inventory and Inventory Turnover. 3. Compute the Working Capital for 2019.
Transcribed Image Text:Plppi Aaia of S C acell(PASUC 45,939,500.00 1:37 U v O 4G 4 0 Statement of Financial Position December 31, 2018 and 2019 2019 2018 Assets 2,030,500.00 Cash Marketable Securities 1,191,000.00 4,002,000.00 4,383,500.00 208,500.00 18,384,500.00 379,500.00 28,132,000.00 2,636,000.00 4,704,000.00 Accounts Receivable Allowance for Doubtful Accounts - Inventories 224,000.00 - 23,520,500.00 256,000.00 Prepaid Expenses Total Current Assets 32,923,000.00 20,303,500.00 Property, Plant and Equipment Less: Accumulated Depreciation 13,253,500.00 3,765,000.00 9,488,500.00 5,764,000.00 14,539,500.00 Other Assets Total Assets 186,500.00 47,649,000.00 334,000.00 37,954,500.00 Liabilities and Equity Accounts Payable 7,147,000.00 2,807,000.00 942,000.00 2,834,500.00 3,795,500.00 Notes Payable Current Portion of Long-term Debt 3,006,000.00 758,000.00 2,656,500.00 317,500.00 8,487,500.00 Accrued Liabilities Deferred Income Tax Long-term Debt Total Liabilities 421,500.00 10,529,500.00 24,681,500.00 19,021,000.00 Equity Ordinary Shares Additional Paid-in Capital Retained Earnings Total Liabilities and Equity 2,401,500.00 478,500.00 20,087,500.00 2,297,000.00 455,000.00 16,181,500.00 37,954,500.00 47,649,000.00 Accreditning Ageey of Chartered Colleges amd Uninenities of the Philippines (AACCUP) Pilippine Anaciation of Sute Uiniversities and Colleges(PASUC) Agricainaral Colleges Assecienin of rke Pilypines (ACAP) Accrediled: Member: ir nen Republic of the Philippines CAPIZ STATE UNIVERSITY Fuentes Drive, Roxas City. Capiz, Philippines Tel. No. (036) 6214-578 Fax No. (036) 6z14-578 1980 website: www.caps.cdu.ph email address rosas@capsu.edu.ph EBC Enterprises Statement of Financial Performance December 31, 2018 and 2019 2019 2018 Net Sales 107.800.000.00 76,500,000.00 Cost of Goods Sold 64,682,000.00 45,939,500.00 Gross Profit 43,118,000.00 30,560,500.00 Less: Expenses 33,496,500.00 24,657,500.00 Operating Profit 9,621,500.00 5,903,000.00 Interest Income 211,000.00 419,000.00 Interest Expense 1,292,500.00 1,138,500.00 Earnings Before Income Taxes |Income Taxes 8,540,000.00 5,183,500.00 3,843,000.00 2,228,500.00 Net Income 4,697,000.00 2.955,000.00 Required: (Three points (3 pts) will be assigned to each question (1 pt for the formula, 1 pt for solution, and 1 pt for the correct final answer). 1. Compute the Current Ratio for 2018 and 2019. 2. Compute the Average Inventory and Inventory Turnover. 3. Compute the Working Capital for 2019.
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