Çiğli Transportation service Manager's Report 8pm Thursday Assets Owners' Equity Capital Stock Retained Earnings 92.000 TL Accounts Receivable 70.000 TL Notes Payable Supplies 62.000 TL 288.000 TL Cash 69.000 TL 14.000 TL Building 80.000 TL Land 70.000 TL Automobiles 165.000 TL Accounts Payable 26.000 TL 468.000 TL 468.000 TL
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The night manager of Çiğli Transportation Service, who had no accounting background, prepared the following
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- Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Return on stockholders’ equityTwenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Return on common stockholders’ equityBalance off the accounts and extract a trial balance for sole trader Airman Co. as at 30 September2020:DR CR£ £Capital 306,070Drawings 26,500Cash at bank 20,000Cash in hand 8,500Accounts receivable (Debtors) 70,000Accounts payable (Creditors) 16,000Inventory (Stock): 30 September 2019 36,000Van 16,000Fixtures and Fittings 32,000Sales 80,000Purchases 150,000Return inwards (Sales Returns) 2,000Carriage inwards 720Returns outwards (Purchase Returns) 600Carriage outwards 400Motor expenses 1,200Rent 5,000Telephone charges 620Wages and salaries 32,000Insurance 830Office expenses 600Sundry expenses 300402,670 402,670Inventory as at 30 September 2020 was £120,000.Required a. Draft an Income Statement for Airman Co. for the year ending 30th September 2020 b. The records show that the Airman Co. has been profitable during 10 years since 2009. Due to COVID-19 outbreak, explain the possible impact of COVID-19 on company Income statement items.
- Using a BalanceSheetMOON CORPORATIONBALANCE SHEETJULY 31, 2011Assets Liabilities & Owners’ EquityCash . . . . . . . . . . . . . . . . $ 18,000 Liabilities:Accounts Receivable . . . 26,000 Notes PayableLand . . . . . . . . . . . . . . . . 37,200 (due in 60 days) . . . . . . . . . . . . . $ 12,400Building. . . . . . . . . . . . . . 38,000 Accounts Payable . . . . . . . . . . . . . 9,600Office Equipment . . . . . . 1,200 Total liabilities . . . . . . . . . . . . . . $ 22,000Stockholders’ equity:Capital Stock . . . . . . . . . $60,000Retained Earnings. . . . . 38,400 98,400Total . . . . . . . . . . . . . . . . $120,400 Total . . . . . . . . . . . . . . . . . . . . . . . . . $120,400STAR CORPORATIONBALANCE SHEETJULY 31, 2011Assets Liabilities & Owners’ EquityCash . . . . . . . . . . . . . . . . $ 4,800 Liabilities:Accounts Receivable . . . 9,600 Notes PayableLand . . . . . . . . . . . . . . . . 96,000 (due in 60 days) . . . . . . . . . . . . . $ 22,400Building. . . . . . . . . . . .…JUBILEE’s trial balance from the general ledger at 31 December 2012 showed the following balances:GH¢’mGH¢’mRevenue 2,648Loan note interest paid3Purchases1,669Distribution costs514Administrative expenses345Interim dividend paid6Inventories at 1 January 2012444Trade receivables545Trade payables434Cash and cash equivalents2850Gp ordinary shares100Capital surplus814Retained earnings at 1 January 20123494% loan note repayable 2018 (issued 2010)150Land and buildings: Cost (including GH¢60m land) 380 Accumulated depreciation at 1/1/201264Plant and equipment: Cost 258 Accumulated depreciation at 1/1/2012126Investment property at 1 January 2012548Rental income48Proceeds from sale of equipment7,4,7404,740Further information to be taken into account:i. Closing inventories were counted and amounted to GH¢388m at cost. However, shortly after the year end out-of-date inventories with a cost of GH15m were sold for GH¢8m.ii. The company decided to change its accounting policy with respect to its 10…BALANCE SHEETCash $ 140.0 Accounts payable $ 800 .0Accts. receivable 880 .0 Notes payable 600.0Inventories 1,320.0 Accruals 400 .0Total current assets $2,340.0 Total current liabilities $1,800.0Long-term bonds 1,000.0Total debt $2,800.0Common stock 200 .0Retained earnings 1,000.0Net plant & equip. 1,660.0 Total common equity $1,200.0Total assets $4.000.0 Total liabilities & equity $4.000.0lNCOME STATEMENTNet sales $6,000.0Operating costs 5,599.8Depreciation 100.2EBIT $ 300.0Less: Interest 96 .0EBT $ 204 .0Less: Taxes 81.6Net income $ 122.4OTHER DATAAnnual Principal and Lease Payments 0.00Shares outstanding (millions) 60 .00Common dividends (millions) $42.8Interest rate on NIP and long-term bonds 6.0 %Federal plus state income tax rate 40%Year-end stock price $30 .60 What is the firms ROE (Return on Equity)?Group of answer choices 9.45% 9.63% 9.84% 10.20%
- BALANCE SHEETCash $ 140.0 Accounts payable $ 800 .0Accts. receivable 880 .0 Notes payable 600.0Inventories 1,320.0 Accruals 400 .0Total current assets $2,340.0 Total current liabilities $1,800.0Long-term bonds 1,000.0Total debt $2,800.0Common stock 200 .0Retained earnings 1,000.0Net plant & equip. 1,660.0 Total common equity $1,200.0Total assets $4.000.0 Total liabilities & equity $4.000.0lNCOME STATEMENTNet sales $6,000.0Operating costs 5,599.8Depreciation 100.2EBIT $ 300.0Less: Interest 96 .0EBT $ 204 .0Less: Taxes 81.6Net income $ 122.4OTHER DATAAnnual Principal and Lease Payments 0.00Shares outstanding (millions) 60 .00Common dividends (millions) $42.8Interest rate on NIP and long-term bonds 6.0 %Federal plus state income tax rate 40%Year-end stock price $30 .60 Question 9 What is the firm's Debt Ratio? Group of answer choices 60.0% 65.0% 70.0% 75.0% Question 10 What is the firm's Inventory Turnover? 4.41 4.55 4.69 4.83 Question 11 What is the firm's DPS…BALANCE SHEETCash $ 140.0 Accounts payable $ 800 .0Accts. receivable 880 .0 Notes payable 600.0Inventories 1,320.0 Accruals 400 .0Total current assets $2,340.0 Total current liabilities $1,800.0Long-term bonds 1,000.0Total debt $2,800.0Common stock 200 .0Retained earnings 1,000.0Net plant & equip. 1,660.0 Total common equity $1,200.0Total assets $4.000.0 Total liabilities & equity $4.000.0lNCOME STATEMENTNet sales $6,000.0Operating costs 5,599.8Depreciation 100.2EBIT $ 300.0Less: Interest 96 .0EBT $ 204 .0Less: Taxes 81.6Net income $ 122.4OTHER DATAAnnual Principal and Lease Payments 0.00Shares outstanding (millions) 60 .00Common dividends (millions) $42.8Interest rate on NIP and long-term bonds 6.0 %Federal plus state income tax rate 40%Year-end stock price $30 .60 Question 5 What is the firm's EBITDA coverage? Group of answer choices 3.51 3.69 3.88 4.17 Question 6 What is the firms DSO (Days Sales Outstanding)? Group of answer choices 51.30 days 52.80 days 53.50…Locate and download Gap Inc.’s 2020 Annual Report (for fiscal year 2/2/20-1/30/21) https://investors.gapinc.com/financial-information/default.aspx Shareholder’s Equity At 2/1/20: How many shares of common stock are: (a) authorized _______________ (b) issued _______________ (c) outstanding _______________ How many shares of preferred stock are: (a) authorized _______________ (b) issued _______________ (c) outstanding _______________ What was the amount of dividends paid to shareholders during 2020? _______________
- 1. The following information is provided in the 2011 annual report toshareholders of The Biz Store:December 31, 2011 December 31, 2010Accounts Receivable Y $ 6 millionInventory $ 25 million $ 20 millionTotal assets $ 250 million XTotal Stockholders Equity W $ 130 millionNet Sales $ 115 millionCost of goods sold ZNet Income UAverage Collection Period 22.2 daysAverage days in inventory 104 DaysEquity multiplier 1.9Return on stockholder Equity 16.0 %Profit Margin on sales 17.4 %ROA VRequired: Compute U-Z in the tableabove. 2. Shown below is the activity for one of the products of Random Creations:January 1 balance, 80 units @ $50 $4,000Purchases:January 18: 40 Units @ $51January 28: 40 Units @ $52Sales:January 12: 30 UnitsJanuary 22: 30 UnitsJanuary 31:45 Units2a. Compute the ending inventory and cost of goods sold assuming RandomCreations uses FIFO.2b. Compute the ending inventory and cost of goods sold assuming RandomCreations uses LIFO and perpetual inventory system.2c. Compute the…ABC TradersTrial Balance at 31 December 20.1 Dr. Cr.Purchases/Sales 843,800 1,394,200 Return in and Out 22,200 33,300Discounts Allowed and Received 4,400 5,500Debtors and Creditors 66,000 77,000Drawing and Capital 136,700 410,000Stock 1 January 20.1 55,500 Carriage on Sales 21,000Carriage on Purchases 34,500Wages and Salaries…You have the following information about Trisha Company: total asset =P350,000; common stock equity = P175,000; Return on Equity (ROE) =12.5%. What is Trisha’s earnings available for common stockholders? A. P21,875B. P43,750C. P50,000D. P47,632