Question 2 of 5 - Assignment 1

The Cena and Lesnar, a retail clothier, has had average sales of $400,000 for the last five years,| 2019-2015. The firm's total assets at the end of 2017 were $400,000. An internal staff cost analyst has prepared the following financial data from the annual reports. You have been hired as a consultant to help analyze the financial position. 2019 2018 2017 2016 2015 Current Ratio 2.80 2.43 2.36 2.10 2.00 Acid Test Ratio 2.03 1.93 1.82 1.61 1.47 Days' Sales in Receivables Merchandise Inventory Turnover Debt Ratio 61 58 54 42 35 4.20 4.10 4.10 3.90 3.70 0.48 0.50 0.49 0.47 0.47 Times Interest Earned 4.60 4.80 5.90 5.70 6.00 Sales as a Percent of 1996 Sales 1.46 1.23 1.12 1.06 1.00 Net Income as a Percent of 1996 Income 1.31 1.20 1.10 1.06 1.00 Gross Profit Margin Operating Expenses to Net Sales Net Profit Margin 38.5% 38.8% 38.9% 40.0% 39.7% 11.4% 11.3% 11.5% 11.4% 11.7% 7.6% 8.6% 8.9% 9.4% 9.3% Return on Total Assets 9.4% 9.6% 9.6% 10.0% 10.7% Required: Have Cena and Lesnar utilized its…

The Cena and Lesnar, a retail clothier, has had average sales of $400,000 for the last five years,| 2019-2015. The firm's total assets at the end of 2017 were $400,000. An internal staff cost analyst has prepared the following financial data from the annual reports. You have been hired as a consultant to help analyze the financial position. 2019 2018 2017 2016 2015 Current Ratio 2.80 2.43 2.36 2.10 2.00 Acid Test Ratio 2.03 1.93 1.82 1.61 1.47 Days' Sales in Receivables Merchandise Inventory Turnover Debt Ratio 61 58 54 42 35 4.20 4.10 4.10 3.90 3.70 0.48 0.50 0.49 0.47 0.47 Times Interest Earned 4.60 4.80 5.90 5.70 6.00 Sales as a Percent of 1996 Sales 1.46 1.23 1.12 1.06 1.00 Net Income as a Percent of 1996 Income 1.31 1.20 1.10 1.06 1.00 Gross Profit Margin Operating Expenses to Net Sales Net Profit Margin 38.5% 38.8% 38.9% 40.0% 39.7% 11.4% 11.3% 11.5% 11.4% 11.7% 7.6% 8.6% 8.9% 9.4% 9.3% Return on Total Assets 9.4% 9.6% 9.6% 10.0% 10.7% Required: a. Explain the trend in liquidity.…

Please check if my total selling and administrative expenses is correct. Put an explanation why is it correct or not.

The Clothes Clutch, a retail clothier, has had average sales of $400,000 for the last five years, 2018-2022. The firm's total assets at the end of 2020 were $400,000. An internal staff cost analyst has prepared the following financial data from the annual reports. You have been hired as a consultant to help analyze the financial position.   2022  2021 2020 2019 2018 Current Ratio 2.80  2.43  2.36  2.10  2.00  Acid Test Ratio 2.03  1.93  1.82  1.61  1.47  Days' Sales in Receivables 61  58  54  42  35  Merchandise Inventory Turnover 4.20  4.10  4.10  3.90  3.70  Debt Ratio 0.48  0.50  0.49  0.47  0.47  Times Interest Earned 4.60  4.80  5.90  5.70  6.00  Sales as a Percent of 1996 Sales 1.46  1.23  1.12  1.06  1.00  Net Income as a Percent of 1998 Income 1.31  1.20  1.10  1.06  1.00  Gross Profit Margin 38.5% 38.8% 38.9% 40.0% 39.7% Operating Expenses to Net Sales 11.4% 11.3% 11.5% 11.4% 11.7% Net Profit Margin 7.6% 8.6% 8.9% 9.4% 9.3% Return on Total Assets…

Prepare a correct income statement in simplified form.

Required: Prepare a correct income statement in simplified form.

Skynet Unlimited is an innovator in the new industry of neural-networked computer manufacturing. They employ about 50 employees in their automated factories. The following table shows a summary of data extracted from their financial accounts at the end of accounting year 2021. Summary of Financial Account data 2021 (in thousands dollars) Sales Revenue Profit before tax Cost of goods sold 300 78 165 Capital employed Starting inventory 1,062 29 Ending inventory 34 In 2020, the company's inventory turnover ratio was 7.64. What is their Inventory Turnover ratio for the year 2021? note: write the number with at most 2 decimal places (eg. 95.17)

Prepare a schedule of cost of goods manufactured and an income statement for YNP corporation as of December 31, 2018. List whether the following fall primarily under managerial or financial accounting.

Refer to the company’ operating results reflected in Table 1. Prepare a brief report (not more than 250 words) to AEC’s senior management to explain the fluctuations in net operating income from 2019 to 2021.

SHOW YOUR SOLUTIONS and FORMULA, please do not use excel The Maylad Corporation has requested you to analyze its financial statements for 2019 and has provided you with the following information. Account Titles 2019 2018 Sales 600,000 400,000 Direct Materials Inventory, January 1 16,000 26,080 Direct Materials Purchases 108,000 95,120 Direct Materials, Inventory Dec. 31 24,000 16,000 Direct Labor 81,000 64,000 Factory overhead (including depreciation of P10,000 for    2019 and P6,000 for 2018) 60,000 48,000 Operating Expenses (including depreciation of P12,000) 250,000 120,000 Interest Expenses 6,000 5,000 Provision for Income Tax 32,000 23,000 Work in Process, Jan. 1 27,000 13,800 Work in Process, Dec. 31 32,000 27,000 Finished goods, Jan. 1 52,000 45,000 Finished goods, Dec. 31 48,000 52,000 Cash 30,000 24,400 Marketable Securities 10,000 32,000 Accounts…

SHOW YOUR SOLUTIONS and FORMULA, please do not use excel The Maylad Corporation has requested you to analyze its financial statements for 2019 and has provided you with the following information. Account Titles 2019 2018 Sales 600,000 400,000 Direct Materials Inventory, January 1 16,000 26,080 Direct Materials Purchases 108,000 95,120 Direct Materials, Inventory Dec. 31 24,000 16,000 Direct Labor 81,000 64,000 Factory overhead (including depreciation of P10,000 for    2019 and P6,000 for 2018) 60,000 48,000 Operating Expenses (including depreciation of P12,000) 250,000 120,000 Interest Expenses 6,000 5,000 Provision for Income Tax 32,000 23,000 Work in Process, Jan. 1 27,000 13,800 Work in Process, Dec. 31 32,000 27,000 Finished goods, Jan. 1 52,000 45,000 Finished goods, Dec. 31 48,000 52,000 Cash 30,000 24,400 Marketable Securities 10,000 32,000 Accounts…

Determine the total selling and administrative expenses.

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Required: Determine the total selling and administrative expenses.

Complete this question by entering your answers in the tabs below. Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows.           Manufacturing costs       Direct materials $ 35 per unit Direct labor $ 55 per unit Overhead costs       Variable $ 30 per unit Fixed $ 7,350,000 (per year) Selling and administrative costs for the year       Variable $ 775,000   Fixed $ 4,500,000   Production and sales for the year       Units produced   105,000 units Units sold   75,000 units Sales price per unit $ 360 per unit   Required 1 Required 2 Prepare an income statement for the year using variable costing.         SIMS COMPANY Variable Costing Income Statement                                                                   Net income (loss)

Subject: accounting

Members of the board of directors of Security Team have received the following operating income data for the year ended May 31, 2018: E (Click the icon to view the operating income data.) Members of the board are surprised that the industrial systems product line is not profitable. They commission a study to determine whether the company should drop the line. Company accountants estimate that dropping industrial systems will decrease fixed cost of goods sold by $84,000 and decrease fixed selling and administrative expenses by $10,000. Read the requirements. Requirement 1. Prepare a differential analysis to show whether Security Team should drop the industrial systems product line. (Use parentheses or a minus sign to enter decreases to profits.) in operating income - X Requirements 1. Prepare a differential analysis to show whether Security Team should drop the industrial systems product line. 2. Prepare contribution margin income statements to show Security Team's total operating…

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Snyder Brush Company sells standard hair brushes. The following information summarizes Snyder​'s operating activities for 2024​: 1​(Click the icon to view the​ information.)   Requirements 1. Calculate the operating income for 2024. 2. Snyder sold 5,400 brushes in 2024. Compute the unit cost for one brush.   Requirement 1. Calculate the operating income for 2024.   Snyder Brush Company Income Statement Year Ended December 31, 2024   Revenue:       (1)         Cost of Goods Sold:         (2)           (3)           (4)           (5)         Cost of Goods Sold       Gross Profit       (6)         Operating Income     Requirement 2. Snyder sold 5,400 brushes in 2024. Compute the unit cost for one brush. ​(Round your answer to the nearest​ cent.)   Cost per brush =   1: Data Table…

Jansen Company reports the following for its ski department for the year 2019. All of its costs are direct, except as noted.          Sales $ 605,000   Cost of goods sold   430,000   Salaries   112,000 ($25,600 is indirect) Utilities   17,200 ($5,100 is indirect) Depreciation   45,000 ($17,100 is indirect) Office expenses   22,800 (all indirect)    1. Prepare a departmental income statement for 2019.2. & 3. Prepare a departmental contribution to overhead report for 2019. Based on these two performance reports, should Jansen eliminate the ski department?

Jansen Company reports the following for its ski department for the year 2019. All of its costs are direct, except as noted.          Sales $ 610,000   Cost of goods sold   435,000   Salaries   113,000 ($25,000 is indirect) Utilities   15,600 ($5,700 is indirect) Depreciation   54,400 ($17,400 is indirect) Office expenses   29,600 (all indirect)    1. Prepare a departmental income statement for 2019.2. & 3. Prepare a departmental contribution to overhead report for 2019. Based on these two performance reports, should Jansen eliminate the ski department?

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According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 3.8 percent between January and December 2018. Let's see whether these changes are reflected in the income statement of Gonzalez Industries for the year ended December 31, 2018. Sales Revenue Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Interest Expense Income before Income Tax Expense Income Tax Expense Net Income Required 1 Required 2 Required 3 2018 $ 105,000 62,500 42,500 36,500 Required: 1. Compute the gross profit percentage for each year. Assuming the change from 2017 to 2018 is the beginning of a sustained trend, is Gonzalez likely to earn more or less gross profit from each dollar of sales in 2019? 2. Compute the net profit margin for each year. Did Gonzalez do a better or worse job of controlling operating expenses in 2018 relative to 2017? 550 5,450 1,500 $ 3,950 3. Gonzalez reported average net fixed assets…

According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 3.8 percent between January and December 2018. Let's see whether these changes are reflected in the income statement of Gonzalez Industries for the year ended December 31, 2018. Sales Revenue Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Interest Expense Income before Income Tax Expense Income Tax Expense Net Income Required 1 Required 2 Required 3 2018 $ 105,000 62,500 Required: 1. Compute the gross profit percentage for each year. Assuming the change from 2017 to 2018 is the beginning of a sustained trend, is Gonzalez likely to earn more or less gross profit from each dollar of sales in 2019? 2. Compute the net profit margin for each year. Did Gonzalez do a better or worse job of controlling operating expenses in 2018 relative to 2017? 3. Gonzalez reported average net fixed assets of $54,700 in 2018 and $45,600 in…