Jaran Enterprises Income Statement For the year ended December 31, 2021 Sales Less: Cost of Sales Gross Profit Less: Operating Expenses Net Income Jaran Enterprises Comparative Balance Sheet As of December 31, 2021 2018 P 11,792,000 6,650,000 5,142,000 2,260,000 P_2,882,000 2017 Cash P 593,200 33,000 Accounts Receivables 428,000 Merchandise Inventory ? 413,000 14,000 51,000 Office Supplies Prepaid Insurance 46,000 48,000 Property, Plant and Equipment 3,540,800 3,540,000 Total Assets P 5,019,000 P ? Accounts Payable P 517,000 P 108,000 Salaries Payable 51,000 0 Mortgage Payable 0 2,600,000 1,500,000 Share Capital 1,500,000 Retained Earnings 2,951,000 69,000 Total Liabilities and Equity P? P 4,277,000 Based on the above information, determine the debt ratio, acid test ratio, and return on assets for the year 2021. Round off to two decimal places. P

Jaran Enterprises Income Statement For the year ended December 31, 2021 Sales Less: Cost of Sales Gross Profit Less: Operating Expenses Net Income Jaran Enterprises Comparative Balance Sheet As of December 31, 2021 2018 P 11,792,000 6,650,000 5,142,000 2,260,000 P_2,882,000 2017 Cash P 593,200 33,000 Accounts Receivables 428,000 Merchandise Inventory ? 413,000 14,000 51,000 Office Supplies Prepaid Insurance 46,000 48,000 Property, Plant and Equipment 3,540,800 3,540,000 Total Assets P 5,019,000 P ? Accounts Payable P 517,000 P 108,000 Salaries Payable 51,000 0 Mortgage Payable 0 2,600,000 1,500,000 Share Capital 1,500,000 Retained Earnings 2,951,000 69,000 Total Liabilities and Equity P? P 4,277,000 Based on the above information, determine the debt ratio, acid test ratio, and return on assets for the year 2021. Round off to two decimal places. P

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter15: Capital Investment Analysis

Section: Chapter Questions

Problem 15.5.1MBA

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