2018 2017 Cash and Receivables $ 80,640 56,840 $ 80,575 Merchandise Inventory Property, Plant, and Equipment, Net Total Assets 54,450 142,520 139,975 $ 280,000 $ 275,000
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Performing vertical analysis
Great Value Optical Company reported the following amounts on its
Prepare a Vertical analysis of Great Value’s assets for 2018 and 2017.
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- Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).E6.14 (LO 3), AP Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. The company reports inventory and cost of goods sold using the LIFO method. Suppose it reported the following information in its 2025 annual report. (in millions) 2025 2024 Inventories (LIFO) $2,397 $3,042 Current assets 30,857 Current liabilities 12,753 1,367 16,255 LIFO reserve Cost of goods sold Instructions a. Compute Deere's inventory turnover and days in inventory for 2025. (Round inventory turnover to 2 decimal places.) b. Compute Deere's current ratio using the 2025 data as presented, and then again after adjusting for the LIFO reserve. c. Comment on how ignoring the LIFO reserve might affect your evaluation of Deere's liquidity. Idi bried FIEO LIFO and average cost and evaluate impact on gross profil44 On December 2, 2022, Pancit Manufacturing Company purchased goods with a cash price of P1,600,000. Some of the costs incurred in connection with the acquisition of the goods were as follows: Import duties, P160,000; transportation costs, P80,000; and handling costs, P40,000. These goods were received on December 31, 2022. In Pancit’s December 31, 2022 balance sheet, at what amount should these goods be included in inventory?
- Sound Break CorporationIncome and Retained Earnings StatementFor the year Ended December 31, 2020Net Sales P1,000,000Cost of Goods Sold:Inventory, Dec. 31, 2019 P250,000Purchases 720,000Total Goods Available P970,000Inventory 220,000 750,000Gross Margin on Sales P 250,000Selling and Administrative (including Depreciation of P20,000) 125,000Net Income before Tax P 125,000Provision for Income Tax 35,000Net Income for the Year P 90,000Retained Earnings, beginning 130,000Total P 220,000Dividends Paid 30,000Retained Earnings, December 31, 2020 P 190,000 Sound Break CorporationBALANCE SHEETDecember 31, 2019 and 2020 ASSETS 2019 2020Current Assets:Cash P 75,000 P 85,000Marketable Securities 25,000 25,000Trade Receivables, net 185,000 245,000Inventory, at cost 250,000 220,000Prepaid Expenses 15,000 10,000Total Current Assets P550,000 P585,000Property and Other Assets:Equipment, net P340,000 P320,000Other Assets 15,000 15,000Total Property and Other Assets P355,000 P335,000 Total Assets…ABC Co. financial records on Dec31,2025 A/R,Dec2025-1,680,000 CollectionsofA/R-6,240,000 Allow.forbaddebts,Jan2025-38,400 Invetory,Jan1-2,880,000 Inventory,Dec31-1,500,000 CashSales-1,200,000 Purchases-4,800,000, GrossProfitSales-2,160,000 For current yr, the management decided to change the method in estimating bad debts from % of A/R to aging meth. Of ending bal of A/R, 60% of it belongs to 0-30 days category with 1% uncollectibility rate,30% belongs to 31-60 days age with 5% uncollectibility rate,&rest belongs to 61 & over days category with 10% uncollectibility rate. Bad debts expense for the year is?2018 Total industry assets = STANBIC + BARCLAYS = 6,205,018 + 8,994,562 = 15,199,580Concentration of STANBIC = 6,205,018 / 15,199,580 = 0.408236 = 0.41 = 41%Concentration of BARCLAYS = 8,994,562 / 15,199,580 = 0.591764 = 0.59 = 59% 2019Total industry assets = STANBIC + ASBA = 9,295,682 + 11,772,546 = 21,068,228Concentration of STANBIC = 9,295,682 / 21,068,228 = 0.441218 = 0.44 = 44%Concentration of ASBA = 11,772,546 / 21,068,228 = 0.558782 = 0.56 = 56% 2020Total industry assets = STANBIC + ASBA =12,742,132 + 12,546,473 = 25,288,605Concentration of STANBIC = 12,742,132 / 25,288,605 = 0.503869 = 0.50 = 50%Concentration of ASBA = 12,546,473 / 25,288,605 =0.496131= 0.50 = 50% Based on the five-firm concentration ratios calculated in above, determine the level of competition
- The estimated inventory amount is: A. P720,000 B. P600,000 C. P784,000 D. P840,000 E. P550,000What is the estimated cost of the missing inventory on December 31,2021? a. P151,000 b. P165,000 c. P420,000 d. P585,000E23.10B (L0 1,4) (Classification of Transactions) Following are selected balance sheet accounts of BioLazer Corp. at December 31, 2020 and 2019, and the increases or decreases in each account from 2019 to 2020. Also presented is selected income statement information for the year ended December 31, 2020, and additional information. Increase Selected balance sheet accounts 2020 2019 (Decrease)AssetsAccounts receivable $154,000 $120,000 $34,000Property, plant, and equipment 631,000 581,000 50,000Accumulated…
- How to compute this problem? Problem:The data shown below were obtained from the financial records of the BST Corporation for the year ended December 31, 2020. Sound Break CorporationIncome and Retained Earnings StatementFor the year Ended December 31, 2020Net Sales P1,000,000Cost of Goods Sold:Inventory, Dec. 31, 2019 P250,000Purchases 720,000Total Goods Available P970,000Inventory 220,000 750,000Gross Margin on Sales P 250,000Selling and Administrative (including Depreciation of P20,000) 125,000Net Income before Tax P 125,000Provision for Income Tax 35,000Net Income for the Year P 90,000Retained Earnings, beginning 130,000Total P 220,000Dividends Paid 30,000Retained Earnings, December 31, 2020 P 190,000 Sound Break CorporationBALANCE SHEETDecember 31, 2019 and 2020 ASSETS 2019 2020Current Assets:Cash P 75,000 P 85,000Marketable Securities 25,000 25,000Trade Receivables, net 185,000 245,000Inventory, at cost 250,000 220,000Prepaid Expenses 15,000 10,000Total Current Assets…The estimated inventory amount is: P550,000 P600,000 P784,000 P840,000 P720,0002020 2021 Ending inventory at FIFO Cost $21,640 $31,060 Ending inventory at LIFO Cost 10,250 19,500 Cost of goods sold at FIFO Cost $89,590 Cost of goods sold at LIFO Cost 101,150 Sales revenue 144,500 FIFO LIFO Gross profit percentage % %