
Financial And Managerial Accounting
15th Edition
ISBN: 9781337902663
Author: WARREN, Carl S.
Publisher: Cengage Learning,
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(in millions) Net Income Total Assets Total Liabilities Total Revenues
Expedia $ 723 $ 15,504 $ 10,574 $ 6,672
Priceline 2,551 17,421 8,625 9,224
How would I figure out the net profit margin for these
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Accounting equation The total assets and total liabilities (in millions) of McDonalds Corporation (MCD) and Star-bucks Corporation (SBUX) follow:
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What is the financial performance summary for this balance sheet?
BALANCE SHEET
INCOME STATEMENT
($ in millions)
($ in millions)
ASSETS
LIABILITIES
Revenue
28,681.10
Cash & Marketable Securities
449.90
Accounts Payable
1,611.20
Cost Of Goods Sold
20,768.80
Accounts Receivable
954.80
Salaries Payable
225.20
Gross Profit
7,912.30
Inventories
3,645.20
Other Current Liabilities
1,118.80
Other Current Assets
116.60
Total Current Liabilities
2,955.20
Operating Expenses:
Total Current Assets
5,166.50
Selling, General & Admin.
5,980.80
Other Liabilities
693.40
Depreciation
307.30
Machinery & Equipment
1,688.90
Operating income
1,624.20
Land
1,129.70
Total Liabilities
3,648.60
Buildings
2,348.40
Interest
-
Depreciation
(575.60)
SHAREHOLDER'S EQUITY
Other Expense (Income)
(13.10)
Property, Plant & Equip. - Net…
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Use the following information to answer this question.
Windswept, Incorporated
2022 Income Statement
(in millions)
Net sales
$ 9,600
Cost of goods sold
7,810
Depreciation
470
Earnings before interest and taxes
$ 1,320
Interest paid
106
Taxable income
$ 1,214
Taxes
425
Net income
$ 789
Windswept, Incorporated
2021 and 2022 Balance Sheets
(in millions)
2021
2022
2021
2022
Cash
$ 240
$ 270
Accounts payable
$ 1,410
$ 1,410
Accounts receivable
1,020
920
Long-term debt
1,110
1,310
Inventory
1,840
1,710
Common stock
3,360
3,280
Total
$ 3,100
$ 2,900
Retained earnings
650
900
Net fixed assets
3,430
4,000
Total assets
$ 6,530
$ 6,900
Total liabilities & equity
$ 6,530
$ 6,900
What is the quick ratio for 2022?
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What is average payment period using balance sheet below?
BALANCE SHEET
INCOME STATEMENT
($ in millions)
($ in millions)
ASSETS
LIABILITIES
Revenue
28,681.10
Cash & Marketable Securities
449.90
Accounts Payable
1,611.20
Cost Of Goods Sold
20,768.80
Accounts Receivable
954.80
Salaries Payable
225.20
Gross Profit
7,912.30
Inventories
3,645.20
Other Current Liabilities
1,118.80
Other Current Assets
116.60
Total Current Liabilities
2,955.20
Operating Expenses:
Total Current Assets
5,166.50
Selling, General & Admin.
5,980.80
Other Liabilities
693.40
Depreciation
307.30
Machinery & Equipment
1,688.90
Operating income
1,624.20
Land
1,129.70
Total Liabilities
3,648.60
Buildings
2,348.40
Interest
-
Depreciation
(575.60)
SHAREHOLDER'S EQUITY
Other Expense (Income)
(13.10)
Property, Plant & Equip. - Net…
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-
Use the following facts to calculate Return on Assets: Ending Total Assets =
$825,000; Beginning Total Assets = $425,000; Earnings before interest and taxes (EBIT)
- $200,000; Tax Expense = $31,000; and Interest Expense = $26,000.
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Averill Products Inc., reported the following on the company's income statement in 20Y8 and 20Y9:
20Y9. 20Y8
Interest Expense $440,000. $400,000
20Y9. 20Y8
Income before income tax expense. 5,544,000. 4,400,000
Time Interest earned. 20Y9 (fill the blank) 20Y8 (fill the blank)
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How much is the true profit (NET INCOME) of the branch?
a. 1,400,000
b. 1,250,000
c. 1,266,667
d. 1,200,000
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The income statement of ABL shows other operating expenses of R30 million; prepaid insurance expense increased by R4 million; and accrued utilities payable decreased by R7 million. How much did the company pay in other operating expenses?
Select one:
a. R27 million
b. R19 million
c. R33 million
d. R41 million
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Using the information below, calculate the value of
(1) Profitability, (2) Asset Turnover, and (3) Equity Multiplier.
Balance Sheet (all numbers are in $ million unless stated otherwise)
Current Assets Current Liabilities
Cash 98 Accounts Payable 344
A/C Receivable 188 Notes Payable 196
Inventory 422
Total 708 Total 540
Fixed Assets Long-Term Liabilities
Net PPE 2880 Long-Term Debt 457
Common Stock and Paid-In Surplus 550
Retained Earnings 2041
Total Assets 3588 Total Liabilities + Net Worth 3588
Income Statement (all numbers are in $ million unless stated…
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Use the following information to answer this question:
Windswept, Incorporated
2021 Income Statement
($ in millions)
Net sales
$ 11,750
Cost of goods sold
7,750
Depreciation
475
Earnings before interest and taxes
$ 3,525
Interest paid
92
Taxable income
$ 3,433
Taxes
721
Net income
$ 2,712
Windswept, Incorporated
2020 and 2021 Balance Sheets
($ in millions)
2020
2021
2020
2021
Cash
$ 220
$ 250
Accounts payable
$ 1,660
$ 1,595
Accounts received
1,030
930
Long-term debt
1,030
1,350
Inventory
1,880
1,675
Common stock
3,280
3,000
Total
$ 3,130
$ 2,855
Retained earnings
610
860
Net fixed assets
3,450
3,950
Total assets
$ 6,580
$ 6,805
Total liabilities & equity
$ 6,580
$ 6,805
What is the fixed asset turnover for 2021?
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The following information is provided for Cullumber Company and Bramble Corporation.
(in $ millions)
Cullumber Company
Bramble Corporation
Net income 2022
$145
$415
Net sales 2022
1755
4610
Total assets 12/31/20
1025
2330
Total assets 12/31/21
1260
3000
Total assets 12/31/22
1150
4080
What is Bramble's return on assets for 2022? (Round answer to 1 decimal place, e.g. 15.2.)
11.5%
13.8%
10.2%
11.7%
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how did they get the Income Before Tax?
Proforma Income Statement
1/31/21
Total Revenue
$ 28,959,000.00
Cost of Goods
$ 15,299,000.00
Gross Profit
$ 11,535,000.00
Operating Expenses
$ 7,609,000.00
Total Operating Expenses
$ 7,609,000.00
Operating Income or Loss
$ 3,926,000.00
Interest Expense
$ 434,000.00
Income Before Tax
$ 3,644,000.00
Income Tax Expense
$ 963,000.00
Income from Continuing Operations
$ 2,681,000.00
Net Income
$ 2,681,000.00
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