A. Compute the following: 1. Horizontal and Vertical Analysis 2. Liquidity Ratios 3. Profitability Ratio
Q: 7- Presented below is selected information related to Sultan Company at December 31, 2020. Sultan…
A: As requested to answer only A part so we are answering only A part.
Q: Identify and discuss the best costing system for Fruity Thirsty to record their direct materials,…
A: The answer for the question on identifying the best Costing system for Fruity Thirsty is discussed…
Q: 16. Pocket Price: calculate the pocket price for the following product. Suggested Retail Trade…
A: Answer:- Definition of pocket price:- Pocket price can be defined as the list price which is…
Q: When determining the estimated useful life of an intangible asset which factor is NOT important to…
A: The question is related to the Accounting for Intangible Assets. The intangible assets can have…
Q: Adam contributed P500,000 and Aldrin contributed his business valued at P450,000 to na partnership.…
A: The question is related to Partnership Accounting. The Bonus Accounting Method the new partner’s…
Q: 1. At what premium or discount does this issue sell?
A: Premium is when the effective yield rate is more than the market yield rate. Discount is when the…
Q: Fairfield Company management has budgeted the following amounts for its next fiscal Selling price…
A: Formula to calculate Break Even Point. BEP = Fixed Cost / Contribution per unit Where, Contribution…
Q: Vaughn Groomers is in the dog-grooming business. Its operating costs are described by the following…
A: Solution: Flexible budget is the budgeted cost to be incurred at different level of activity.…
Q: A former longstanding client of an accounting practice is being investigated by the tax authorities.…
A: A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act…
Q: Kenneth McFarland's weekly gross earnings for the week ending March 9 were $2,170, and her federal…
A: Formula: Social security tax amount = Gross pay x Social security tax rate
Q: Presented below is information related to Al-Arab Company. Its capital structure consists of 80,000…
A: The question is related to the Ratio Analysis and Financial Statements for the year ended December…
Q: Prepare the following financial statements for Sea View Tour. income Statement for the year ended 31…
A: Financial statements are organized summaries of full information which show the financial position…
Q: Ayayai Cellular sells tablet PCs combined with Internet service, which permits the tablet to connect…
A: Date Account title & Explanation Debit Credit 2-Jan-22 Cash (216 x 40) $8,640 Unearned…
Q: Discuss the major characteristics of a theory.
A: Discussion of major characteristics of a theory
Q: Jabulani Jomo, a sole trader, owns Jomo Entreprises. The entity is a general dealer which uses the…
A: Cash book receipts for May 2019 Particulars amount (R) Katlego dlamini 55000 Cash sales…
Q: breakdown loss, Long Industries incurred various expenses. In Long's Equipment Breakdown Protection…
A: Generally the extra expenses and expenditing expenses are considered to be confusing terms. in…
Q: Required: Identify the type of accounting change this decision represents and prepare the journal…
A: Solution:- Given, Accounting change:- Change in accounting principle, change in estimates and prior…
Q: Prepare the investing and financing activities sections of the cash flow statement and any requi
A: Needs to prepare the partial cash flow statement for Investing and Financing activities as per…
Q: Banking System Bank of Canada A B. Assets Assets Reserves Securities Securities Advances to Banks…
A: Reserve Ratio = 10% Bank of Canada redeposit =$2B of the government of Canada funds. Existing…
Q: 12. Which of the following statement is not correct? A. The post reference/folio column serves as…
A: Journal is an accounting book that records the monetary transactions through debit or credit…
Q: Question Content Area High-Low Method The manufacturing costs of Kellam Industries for the first…
A: a)Calculation of Variable cost per unit as follows:- = (Highest activity cost – Low activity cost) /…
Q: Meredith Company has budgeted sales for the upcoming months as follows: $ 451,000 $ 466,000 $…
A: Budget is the quantitative form of future course of action. Budgets are the forecasts or estimates…
Q: Pleasant Planes Co. purchased a new jet on January 1, 2019 for $5,000,000. Pleasant Planes Co.…
A: Calculation of Depreciation Expense for 2019 Depreciation Expense for 2019 = Number of miles flew in…
Q: PROFITABOLITY: Ratio 2021 2020 2019 ROE= (4,511,706/ 9,414,458) *100 Return on ROE= (2,476,553)/…
A: 1. Return on equity Ratio : This ratio tells that how much a company is able to generate profit from…
Q: NOTE: please use the given formula. Thank you.
A: The question is related to Ratio Analysis. The details are given regarding the same. Since you have…
Q: 7- Presented below is selected information related to Sultan Company at December 31, 2020. Sultan…
A: >Assets are the financial resources or investment of an entity on which it has control and these…
Q: Sheridan Homes Ltd., a private company reporting under ASPE, reported the following for the year…
A: cash flow from investing activities includes the inflow and out flow of all the cash from the…
Q: Part I (1) What is residual income and how is it calculated? (2) Please use the information below…
A: The ratio analysis helps to analyze the financial statements of the business with various elements…
Q: Mawn Company bought and and built a warehouse during 2019. It improperly debited the following…
A: A correcting entry is a journal entry that is prepared to fix an error that was previously recorded…
Q: The Chapter 7 Form worksheet is to be used to create your own worksheet version of the Review…
A: Office Mart Order consists of following Customers 1 Customer Orders 11 orders Number of…
Q: Cari Tank (CT) produces and sells water tanks for the Regional market. The following are estimates…
A: Break even (units)=Fixed annual costSelling Price-Variable cost per unit Sale at desired profit…
Q: Palmquist Company has five differet inventory items and applies the inventory valuation rules on an…
A: * As per Bartleby policy, of multiple subparts are there then answer first three only. As per US…
Q: QUESTION 2 i. Describe the followings using relevant examples: a. Fixed Asset b. Current Assets c.…
A: The balance sheet represents the financial position of the business with assets, liabilities and…
Q: March 1 Invested OMR 10,000 as capital March 3 Purchased office furniture for OMR 3,000 from Blossom…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Contribution Margin Ferrante Company sells 27,000 units at $25 per unit. Variable costs are $16.00…
A: Answer a) Calculation of Contribution Margin ratio Contribution margin ratio = Contribution margin…
Q: Cleaning Truck The following details relate to a street cleaning truck which was imported from…
A: As per standard accounting practices when we purchase any asset , we…
Q: An entity acquired an operating license from the local council to operate a night club for ten years…
A: Yearly amortization of license = R150 00010 years = R15,000
Q: Oven Roasted sold $394,000 of consumer electronics during July under a two-year warranty. The cost…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Bought office machinery on credit from D Isaacs Ltd. (b) The proprietor paid a creditor, C Jones,…
A: In double entry system of accounting each transaction is recorded in two or more accounts. One or…
Q: $1,850, 000 670,000 97,000 Sales revenue Gross margin Income Invested capital 520,000 The company's…
A: Sales margin = Net incomeNet sales×100
Q: Assume a company receives an actual return of goods. Which of the following needs to happen? Sales…
A: The return of goods is the amount of goods that were sold to customers but were returned to…
Q: The ManU Hotel is located close to Manchester United's football stadium. It has a souvenir shop that…
A: Quarterly Purchases Budget for Hats Quarter 1 Quarter 2 Quarter 3 Quarter 4 Units…
Q: QUESTION 22 Head-of-HHouschold filing status is for a family of one adult with dependents. O True O…
A: The filing status of an individual is determined based on factors such as marital status and the…
Q: What is the net present value ? And should the van be purchased? unit VIII Question 15 part a
A: Net present value NPV is the method of capital budgeting which calculates the present worth of net…
Q: 1. :An employer in the U.S. Virgin Islands, employs two individuals, whose taxable earnings to date…
A: Federal Unemployment Taxes (FUTA) Federal unemployment taxes which are provided for the benefit for…
Q: Accordingly, the following entries relating to the contingency for warranty costs were recorded…
A: Warranty expenses are the expenses that are incurred with respect to the repair, replacement, or…
Q: lease help me to solve this problem
A: A budget is used in forecasting to determine supplier payments, and receipts from customers which in…
Q: 1 Commenced business with cash - 80,000 2 Deposited cash with bank - 40,000 3 Purchased goods by…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: following information applies to the questions displayed below.] January 1, 2021, Pet Friendly…
A: Cost Retail Beginning inventory…
Q: FINANCIAL POSITION: RATIO 2021 2020 2019 Current ratio CR= CR= CR = (CR)= 723,796/12,281,092…
A: A fall in the current ratio typically indicates inventory management issues, inadequate or weak…
Step by step
Solved in 5 steps with 6 images
- II. The following is a comparative balance sheet of ABC Co. for December 31, 2022 and 2021: Cash and cash equivalents Accounts receivable Inventories Investment in bonds at amortized cost Equipment Accumulated depreciation Total Assets Accounts payable Bonds payable, due 2025 Ordinary stock, P20 par Share premium Retained earnings Total Liabilities and Equity Additional information: . 2022 250,000 327,600 822,000 0 . 2,400,000 (700,000) 3,099,600 359,000 0 1,800,000 280,000 660,600 3,099,600 2021 220,000 356,000 780,000 200,000 2,040,000 (760,000) 2,836,000 • Net income for 2022, P545,600. Depreciation reported on income statement, P140,000. Fully depreciated equipment, no salvage value, was scrapped. Equipment was purchased for P560,000. Bonds of P400,000 were retired at their face value. 281,000 400,000 1,600,000 200,000 355,000 2,836,000 10,000 shares of ordinary stock were issued for cash of P28 per share. Cash dividends declared and paid, P240,000 Investment in bonds with carrying…Reference is made to the 2022 Balance Sheet of Tran-Ropes limited. Tram-Ropes Limited Balance Sheet 2022 Cash Acc. Receivable Marketable securities Inventories Fixed Assets Total Assets 1,000,000.00 ii. 12,000,000.00 3,000,000.00 7,500,000.00 26,500,000.00 50,000,000,00 Accounts Payable Notes Payable Long-term Debt Common stock Preferred Stock Total Liabilities and Equity 8,000,000.00 8,500,000.00 20,000,000.00 7,500,000.00 6,000,000.00 50,000,000.00 Additional Information: 1. The Long-Term debt consists of 8% annual coupon bonds, with 15 years to maturity and are currently selling for 95% of par. The company's common shares which have a book value of $20 per share are currently selling at $25 per share. iii. iv. V. Preferred shares have a book value of $100 per share. These shares are currently selling at $120 per share and pays dividends of 6% per annum on book value. The dividend growth rate is expected to be 3%, and dividend for 2823 is projected to be $5.00 per share. The…Reference is made to the 2022 Balance Sheet of Tram-Ropes limited. Tram-Ropes Limited Balance Sheet 2022 Cash Acc. Receivable Marketable securities Inventories Fixed Assets Total Assets i. 1,000,000.00 ii. 12,000,000.00 3,000,000.00 7,500,000.00 26,500,000.00 50,000,000.00 Accounts Payable Notes Payable Long-term Debt Common stock Preferred Stock Total Liabilities and Equity 8,000,000.00 8,500,000.00 20,000,000.00 7,500,000.00 6,000,000.00 Additional Information: The Long-Term debt consists of 8% annual coupon bonds, with 15 years to maturity and are currently selling for 95% of par. The company's common shares which have a book value of $20 per share are currently selling at $25 per share. 50,000,000.00
- Transaction Analysis Goal Systems, a business consulting firm, engaged in the following transactions: a. Issued common stock for $100,000 cash. b. Borrowed $60,000 from a bank. c. Purchased equipment for $42,000 cash. d. Prepaid rent on office space for 6 months in the amount of $9,000. e. Performed consulting services in exchange for $7,100 cash, f. Performed consulting services on credit in the amount of $19,250. 9. Incurred and paid wage expense of $10,200. h. Collected $13,500 of the receivable arising from Transaction f 1. Purchased supplies for $1,680 on credit. 3. Used $1,100 of the supplies purchased in Transaction i k. Paid for all of the supplies purchased in Transaction 1. Required: For each transaction described above, indicate the effects on assets, liabilities, and stockholders' equity using the format below. If an amount box does not require an entry, leave it blank. Enter decreases in account values as negative numbers. If the effect of a transaction is to increase AND…Debt to Assets ratio? Current assets $22400 Net income $44500 Stockholders' Current liabilities 13400 66400 equity Average assets 132000 Total liabilities 28600 Total assets 87000 Average common shares outstanding was 17000. 21.7 percent 43.8 percent 32.9 percent 33.7 percentCompared to the ROE in 2020, the ROE in 2021 has Improved / 6.65% Improved / 3.43% Worsened / -6.65% Worsened / -3.43% Stayed the same / 0% by
- The following data was taken from the accounting records of Pina Colada Corporation: Total assets Total liabilities Preferred shares Common shares Retained earnings Additional data: Net income Interest expense Sales revenue 2024 O 20.1% 21.1% 19.1% 18.1% 2023 $962000 $883000 271000 250000 81300 81300 303000 303000 The return on assets for 2024 is 306700 248700 167000 35500 981000The comparative balance sheets for Metlock Corporation show the following information. December 312020 2019Cash $33,500 $12,900Accounts receivable 12,400 10,000Inventory 12,100 9,000Available-for-sale debt investments –0– 3,000Buildings –0– 29,800Equipment 44,800 19,900Patents 5,000 6,300 $107,800 $90,900Allowance for doubtful accounts $3,100 $4,500Accumulated depreciation—equipment 2,000 4,500Accumulated depreciation—building –0– 6,000Accounts payable 5,000 3,000Dividends payable –0– 4,900Notes payable, short-term (nontrade) 3,000 4,100Long-term notes payable 31,000 25,000Common stock 43,000 33,000Retained earnings 20,700 5,900 $107,800 $90,900 Additional data related to 2020 are as follows. 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500.2. $10,000 of the long-term note payable was paid by issuing common stock.3. Cash dividends paid were $4,900.4. On January…Use the common-size financial statements found here: ommon-Size Balance Sheet 2016Cash and marketable securities $ 480 1.5 %Accounts receivable 6,030 18.2Inventory 9,540 28.8Total current assets $ 16,050 48.5 %Net property, plant, and equipment 17,020 51.5Total assets $33,070 100.0 %Accounts payable $ 7,150 21.6 %Short-term notes 6,850 20.7Total current liabilities $ 14,000 42.3 %Long-term liabilities 7,010 21.2Total liabilities $ 21,010 63.5 %Total common shareholders’ equity 12,060 36.5Total liabilities and shareholders’ equity $33,070 100.0 %Common-Size Income Statement 2016Revenues $ 30,000 100.0 %Cost of goods sold (20,050) 66.8Gross profit $ 9,950 33.2 %Operating expenses (7,960) 26.5Net operating income $ 1,990 6.6 %Interest expense (940) 3.1Earnings before taxes $ 1,050 3.5 %Income taxes (382) 1.3Net income $668 2.2 % Specifically, write up a brief narrative that responds to the following questions: a. How much cash does Patterson have on hand relative to its total…
- The balance sheet for Shankland Corporation follows: 000'009 $ 000006 Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings 000 0000 000 00 000 009' 000 006 Total liabilities and stockholders' equity 000'00s Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratioVertical Analysis of Balance Sheet Balance sheet data for a company for the years ended December 31, 20Y2 and 20Y1, are shown below. 20Y2 20Υ1 Current assets $ 752,000 $ 602,000 Property, plant, and equipment 6,248,000 5,397,000 Intangible assets 1,000,000 1,001,000 Current liabilities 504,000 427,000 Long-term liabilities 1,504,000 1,197,000 Common stock 1,248,000 1,253,000 Retained earnings 4,744,000 4,123,000 | Prepare a comparative balance sheet for 20Y2 and 20Y1, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. Round your answers to one decimal place. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 Amount 20Y2 Percent 20Y1 Amount 20Y1 Percent Assets Current assets $752,000 % $602,000 % Property, plant, and equipment 6,248,000 5,397,000 Intangible assets 1,000,000 1,001,000Q7 Prepare common size Balance Sheet of XRI Ltd. from the following information: Particulars I. Equity and Liabilities 1. Shareholders' Fund a) Share capital b) Reserves and surplus 2. Non-current liabilities Long-term borrowings 3. Current liabilities Trade Payable Total II. Assets 1. Non-current assets a) Fixed assets - Tangible asset Total Plant & machinery - Intangible assets Goodwill b) Non-current investments 2. Current assets Inventories Note No. March 31, 2016 15,00,000 5,00,000 6,00,000 14,00,000 March 31, 2017 16,00,000 10,00,000 12,00,000 5,00,000 15,50,000 10,50,000 41,50,000 32,50,000 5,00,000 8,00,000 12,00,000 10,00,000 1,50,000 2,50,000 41,50,000 32,50,000