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Compute the following ratios. Note: Use a 360-day year. Do not round intermediate calculations. Input your profit margin, return on assets, return on equity, and debt to total assets answers as a percent rounded to 2 decimal places. Round all other answers to 2 decimal places.                                                                                Jones Corp                      Smith Corp Find the profit margin, return on assets(investments), return on equity, receivable turnover, average collection period, inventory turnover, fixed asset turnover, total asset turnover, current ratio, quick ratio, debt to total assets, times interest earned, and fixed charge coverage. For each Corpora

Compute the following ratios. Note: Use a 360-day year. Do not round intermediate calculations. Input your profit margin, return on assets, return on equity, and debt to total assets answers as a percent rounded to 2 decimal places. Round all other answers to 2 decimal places.                                                                                Jones Corp                      Smith Corp Find the profit margin, return on assets(investments), return on equity, receivable turnover, average collection period, inventory turnover, fixed asset turnover, total asset turnover, current ratio, quick ratio, debt to total assets, times interest earned, and fixed charge coverage. For each Corpora

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter7: Fixed Assets, Natural Resources, And Intangible Assets
Section: Chapter Questions
Problem 7.3.2MBA
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Compute the following ratios. Note: Use a 360-day year. Do not round intermediate calculations. Input your profit margin, return on assets, return on equity, and debt to total assets answers as a percent rounded to 2 decimal places. Round all other answers to 2 decimal places.                                                                               

Jones Corp                      Smith Corp

Find the profit margin, return on assets(investments), return on equity, receivable turnover, average collection period, inventory turnover, fixed asset turnover, total asset turnover, current ratio, quick ratio, debt to total assets, times interest earned, and fixed charge coverage. For each Corporation.

Cash Marketable securities Accounts receivable Inventory Total assets Gross fixed assets Less: Accumulated depreciation Net fixed assets* Sales (on credit) Cost of goods sold Current Assets Long-Term Assets Depreciation expense Operating profit Interest expense Earnings before taxes *Use net fixed assets in computing fixed asset turnover. Tax expense Net income Gross profit Selling and administrative expense* SMITH CORPORATION SMITH CORPORATION $ 557,000 251,800 $ 44,000 Accounts payable 7,900 73,700 77,500 305, 200 $ 508,300 $ 1,430,000 919,000 $ 511,000 299,000 57,500 $ 154,500 30,600 $ 123,900 59,900 $ 64,000 Liabilities Bonds payable (long term) Stockholders' Equity Common stock Paid-in capital Retained earnings Total liabilities and equity $ 83,700 290,000 $ 75,000 30,000 29,600 $ 508,300
Transcribed Image Text:Cash Marketable securities Accounts receivable Inventory Total assets Gross fixed assets Less: Accumulated depreciation Net fixed assets* Sales (on credit) Cost of goods sold Current Assets Long-Term Assets Depreciation expense Operating profit Interest expense Earnings before taxes *Use net fixed assets in computing fixed asset turnover. Tax expense Net income Gross profit Selling and administrative expense* SMITH CORPORATION SMITH CORPORATION $ 557,000 251,800 $ 44,000 Accounts payable 7,900 73,700 77,500 305, 200 $ 508,300 $ 1,430,000 919,000 $ 511,000 299,000 57,500 $ 154,500 30,600 $ 123,900 59,900 $ 64,000 Liabilities Bonds payable (long term) Stockholders' Equity Common stock Paid-in capital Retained earnings Total liabilities and equity $ 83,700 290,000 $ 75,000 30,000 29,600 $ 508,300
Cash Accounts receivable Inventory Current Assets Total assets Gross fixed assets Less: Accumulated depreciation Net fixed assets* Long-Term Assets Sales (on credit) Cost of goods sold Gross profit Selling and administrative expense Tax expense Net income Depreciation expense Operating profit Interest expense Earnings before taxes JONES CORPORATION +Includes $12,700 in lease payments. $ 554,000 152, 300 *Use net fixed assets in computing fixed asset turnover. $ 123,300 Accounts payable 183,600 56,800 401,700 $ 765,400 $ 1,255,000 678,000 $ 577,000 355,000 59,400 $ 162,600 11,300 $ 151,300 82,500 $ 68,800 Liabilities Bonds payable (long term) Stockholders' Equity Common stock Paid-in capital Retained earnings Total liabilities and equity $ 176,000 89,600 $ 150,000 70,000 279,800 $ 765,400
Transcribed Image Text:Cash Accounts receivable Inventory Current Assets Total assets Gross fixed assets Less: Accumulated depreciation Net fixed assets* Long-Term Assets Sales (on credit) Cost of goods sold Gross profit Selling and administrative expense Tax expense Net income Depreciation expense Operating profit Interest expense Earnings before taxes JONES CORPORATION +Includes $12,700 in lease payments. $ 554,000 152, 300 *Use net fixed assets in computing fixed asset turnover. $ 123,300 Accounts payable 183,600 56,800 401,700 $ 765,400 $ 1,255,000 678,000 $ 577,000 355,000 59,400 $ 162,600 11,300 $ 151,300 82,500 $ 68,800 Liabilities Bonds payable (long term) Stockholders' Equity Common stock Paid-in capital Retained earnings Total liabilities and equity $ 176,000 89,600 $ 150,000 70,000 279,800 $ 765,400
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