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- A household savings-account spreadsheet shows the following entries for the first day of each month in 2019: Date Account January 1 $ (148,000.00) February 1 $ (2,500.00) March 1 $ (4,000.00) April 1 $ (1,500.00) May 1 $ (13,460.00) June 1 $ 23,000.00 July 1 $ (3,000.00) August 1 $ 198,000.00 Required: Use the Excel function XIRR to calculate the dollar-weighted average return for this period.Presented below are the year-end balance of the assets and liabilitiespertaining to Starlight Merchandising 2020 2019Cash P150,000 P120,000Equity investment at FVPL 260,000 230,000AR, net 360,000 400,000Inventories 705,000 635,000Prepaid Expenses 130,000 128,000Accounts payable 182,000 136,000Other current liabilities 141,000 125,000Bonds Payable 200,000 200,000Additional investment made by the owner during 2020 was P150,000 but a P200,000 personal liability was paid out of company's funds. What is the company's profit or loss for the year ended December 31, 2020? 30,000 800,000 Answer not given 140,000 700,000After analyzing the transactions, prepare a vertical analysis schedule for the company for 2021 and 2020 using service revenue as the base amount. Round percentages to two decimal places. Here is the operating data for Yalis Cleaning, Inc.: 2021 2020Service revenue $523,000 $476,000Operating expenses 385,500 319,800Income tax expense 34,375 39,050Net income $103,125 $117,150
- Randall Corporation reported the following revenue data:Year Net revenues (in millions)$$$$6,8007,0046,7327,2762016201720182019Use 2016 as the base year. The trend percentage in 2019 is closest toa. 93%.b. 104%.c. 107%.d. 112%During 2020, JamJam Company received P8,000,000 from tenants. The balance sheet contained the following data: 2019 2020Rentals receivable P 960,000 P1,240,000Unearned rentals 3,200,000 2,400,000What amount of rental revenue should be reported for 2020?2021 2020 2019 2018 2017 Sales $ 489,967 $ 322,347 $ 256,850 $ 180,880 $ 136,000 Cost of goods sold 252,383 166,097 134,444 94,199 69,360 Accounts receivable 23,763 18,857 17,594 10,600 9,302 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable.
- The top part of Ramakrishnan, Inc.’s 2021 and 2020 balance sheets is listed below (in millions of dollars). 2021 2020 2021 2020 Current assets: Current liabilities: Cash and marketable securities $ 62 $ 53 Accrued wages and taxes $ 46 $ 45 Accounts receivable 157 142 Accounts payable 101 90 Inventory 220 201 Notes payable 62 54 Total $ 439 $ 396 Total $ 209 $ 189 Calculate Ramakrishnan, Inc.’s current ratio for 2021 and 2020. (Round your answers to 2 decimal places.) 2021 = _______ times 2020 = _______ times Calculate Ramakrishnan, Inc.’s quick ratio for 2021 and 2020. (Round your answers to 2 decimal places.) 2021 = _______ times 2020 = _______ times Calculate Ramakrishnan, Inc.’s cash ratio for 2021 and 2020. (Round your answers to 2 decimal places.) 2021 = ________ times 2020 = ________ timesWhat is the gearing ratio for the year 2018? Use the information from IBM’s financial statements below Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Current assets R 48 116 000 R 48 935 000 R 49 004 000 Current liabilities R 40 562 000 R 36 002 000 R 42 435 000 Inventory R 2 450 000 R 2 494 000 R 2 701 000 Owners’ equity R56 455 000 R55 932 000 R53 657 000 Total liabilities R 90 405 000 R 86 385 000 R 96 058 000 Total assets R 113 452 000 R 109 022 000 R 109 524 000 Net income R 14 833 000 R 13 425 000 R 12 334 000 Net profit R 46 014 000 R 43 785 000 R 45 661 000 Sales R 99 870 000 R 95 758 000 R 103 630 000Operating data for Joshua Corporation are presented below. 2020 2019 Sales revenue $ 755,000 $ 604,000 Cost of goods sold 464,325 386,560 Selling expenses 118,535 75,500 Administrative expenses 58,135 54,360 Income tax expense 37,750 24,764 Net income 76,255 62,816 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, e.g. 48.5%.)
- Accounts Receivable as of December 31, 2020 should amount to: *A. 180,000B. 330,000C. 525,000D. 555,000Operating data for Taylor Corporation are presented below. Using the Excel spreadsheet provided, prepare a schedule showing a vertical analysis for 2020 and 2019. 2020 2019 Sales revenue $800,000 $600,000 Cost of goods sold 520,000 408,000 Selling expenses 120,000 72,000 Administrative expenses 60,000 48,000 Income tax expense 30,000 24,000 Net income 70,000 48,000 (CGS percent. = CGS ÷ Sales rev.)The management of Maxlab Ltd. has provided you with the following data relating to their operations for the last two financial periods. 2021 2020 Notes receivable $ 20,000 $ -0- Accounts receivable $182,000 $140,000 Sales $930,000 $750,000 Operating expenses $170,000 $200,000 Payables $45,000 $20,000 Required: Calculate the percentage change for each item as reported above using 2020 as the base year and explain your result.