Brock Company's financial information is listed below. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. What is the current ratio? Round your answer to two decimal places.
Q: Based on the following data for the current year, what is the number of days' sales in receivable?…
A: Number of days sale in receivable means how much time will the debtor takes to clear his dues. First…
Q: Using the data in the preceding question, assume accounts receivable had a beginning balance of…
A: Given information is: Net credit Sales = $807,800 Beginning Account Receivables = $67,400 Ending…
Q: The balance sheet debit column of the worksheet for Jolie Company includes the following accounts:…
A: Assets which are converted into cash within one year from the date of balance sheet or within the…
Q: Based on the following data for the current year, what is the number of days' sales in receivables?…
A: Accounts receivable Receivables are payments that have not yet been received. This means that the…
Q: orten Company's current year income statement, comparative balance sheets, and additional…
A: Cash flow statement provided information about the cash inflows and cash outflows of the company.…
Q: What is accounts payable turnover?a. Purchases on account divided by average accounts payableb. A…
A: Accounts payable: It can be defined as the amount owed by the company to its suppliers. It…
Q: The balance sheet debit column of the worksheet for Sandhill Company includes the following…
A: Order of liquidity The current assest which can be converted in cash in short time will be list…
Q: The following information is from the annual financial statements of Raheem Company. Year 3 Year 2…
A: Account receivable turnover measures the number of times the company collects its account…
Q: Answer the following questions by using the following data taken from the financial statement of 2…
A: Since you have asked a question with multiple parts, we will solve the first 3 parts for you. Please…
Q: The following items are reported on a company's balance sheet: Cash $297,100 Marketable securities…
A:
Q: Prepare a complete statement of cash flows using the indirect method for the current year. (Amounts…
A: Cash flow statement (CFS) refers to a financial statement which shows the flows of cash and cash…
Q: The following data are taken from or calculated from the financial statements: Average accounts…
A: Introduction: The percentage of a period's average accounts receivable divided by the period's net…
Q: Barga Company's net sales for Year 1 and Year 2 are $666,000 and $747,000, respectively. Its…
A: The ratio analysis helps to analyse the financial statements of the business. The days' sales…
Q: The following information is from the annual financial statements of Raheem Company. Year 3 Year 2…
A: Average Accounts Receivable = Opening Accounts Receivable + Closing Accounts Receivable2…
Q: Based on the following financial data, calculate the ratios requested. (Round your answers to 4…
A: Debt ratio is a financial ratio which helps stakeholders like investors and shareholders to analyze…
Q: Use the following information for the Problems below. Skip to question [The following…
A: Cash Flow Statement - Under Cash Flow there are three type activities involved - Operating…
Q: The financial statements of the Splish Brothers Inc. reports net sales of $360000 and accounts…
A: The average collection period seems to be the length of time it requires for a company to obtain…
Q: following data for the current year, what is the number of days' sales in receivables (rounded to…
A: Accounts receivable (AR) seems to be the amount owed to a company for products or services provided…
Q: ĮThe following information applies to the questions displayed below.J On January 1, Year 1, the…
A: Quick assets = Total current assets - inventory = 223180-15500 = $207,680
Q: Based on the following data, what is the accounts receivable turnover? Sales on account during year…
A: Accounts receivable turnover is the ratio of average accounts receivable divided by net credit sales…
Q: a. Prepare a common-sized income statement comparing the results of operations for Smith Electronics…
A: The common size income statement shows the year-on-year trend and indicates the direction of the…
Q: Forten Company's current year Income statement, comparative balance sheets, and additional…
A: Analysis of Changes - It is table that compares increase and decrease in the assets and liabilities…
Q: Accounting Based on the following data, what is the quick ratio, rounded to one decimal point?…
A: Quick ratio is calculated by dividing the quick assets by the total current liabilities. Quick ratio…
Q: [The following information applies to the questions displayed below.] Forten Company's current year…
A: A cash flow statement is a type of financial statement that gives total information about all of the…
Q: The end-of-period spreadsheet for the current year for Jamal Company shows Balance Sheet columns…
A: Net income or net loss will be difference between the credit side and debit side of balance sheet .…
Q: Consider the following company’s balance sheet and income statement. For this company, calculate…
A: We need to compute the required ratios with the help of given financial statements.
Q: The following information was taken from the books of Olmeck, Inc. Sales Accounts receivable:…
A: Accounts receivable turnover = Net sales of company / Average accounts receivable of company Number…
Q: b. Comment on each of the ratios calculated in part (a). ABOVE IS THE QUESTION THAT I NEED ANSWER,…
A: Note: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts…
Q: The following financial information is taken from the balance sheets of the Drucker Company and the…
A: Current ratio = Current assets / Current liabilities Drucker company = $250000 / $100000…
Q: heridan Company had net credit sales during the year of $1047750 and cost of goods sold of $484000.…
A: The correct answer is as fallows
Q: Using the following data for the current year, determine the accounts receivable turnover. Net…
A: Accounts Receivable Turnover = Net Sales/ Average Accounts Receivables
Q: Sandhill Co. had a beginning balance in accounts receivable of $65,960 and an ending balance of…
A: Answer Beginning balance of account receivable = $65,960 Ending balance of account receivable =…
Q: this would represent an example of what type of analysis: a. Vertical Analysis b. Horizontal…
A: Ratio analysis: The analysis of a company using the financial ratios and comparing its trends and…
Q: The following information pertains to Diane Company. Assume that all balance sheet amounts represent…
A:
Q: The following financial information is taken from the balance sheets of the Drucker Company and the…
A: Current ratio is used to determine the ability of a business to meet its short term payment…
Q: The subtotals of -the income statement columns are $4,900(cr amount), respectively If the subtotal…
A: Balance sheet: A statement that provides summary of the assets, liabilities and the owner’s equity…
Q: Following are data from the statements of two companies selling comparable products: Current…
A: Whenever a business or individual borrower is unable to satisfy their loan commitments, credit risk…
Q: Refer to the following selected financial information from Texas Electronics. Compute the company's…
A:
Q: The following information pertains to Diane Company. Assume that all balance sheet amounts represent…
A: Introduction:- Return on total assets indicates earnings before interest and taxes relative to its…
Q: Based on the following data, what is the accounts receivable turnover? Sales on account during year…
A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…
Q: Compute the following for Stanley Limited. Round your answers to two decimal places. All answers…
A: The question is related to the Ratio Analysis. Ratio is the indicated quotient of two mathematical…
Q: Calculate the revenue, cost of goods sold and gross profit to be recognized in each year. Čalculate…
A: Degree of completion (%) = [(costs incurred + estimated cost)/ total estimates cost] * 100…
Q: Answer the following questions by using the following data taken from the financial statement of 2…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: Required: Prepare a complete statement of cash flows using a spreadsheet using the indirect method.…
A: A cash flow statement is a financial statement that summarizes the amount of cash and cash…
Q: The following financial data (in thousands) were taken from recent financial statements of Staples,…
A: 1.Determine the times-interest-earned ratio for the Incorporation S in Year 3, Year 2, and Year 1.
Q: Compute the current ratio, accounts receivable turnover, average collection period, inventory…
A: Current Ratio: This ratio helps in measuring the firm's ability to pay short-term liabilities.…
Q: Answer the following questions by using the following data taken from the financial statement of 2…
A: High DPO mean company take more time to pay to the bills and the creditors Generally High DPO is…
Q: Based on the following data for the current year, what is the number of days' sales in receivable?…
A: Calculate accounts receivable turnover:
Q: The following financial information is taken from the balance sheets of the Peter Company and the…
A: Compute the current ratio for each firm: Particulars Peter Paul Current Assets (A) $200,000…
Brock Company's financial information is listed below. Assume that all
What is the
Trending now
This is a popular solution!
Learn your way
Includes step-by-step video
Step by step
Solved in 2 steps
- 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 Ratio of fixed assets to long-term liabilitiesAssets Line Item Description Amount Cash and short-term investments $42,572 Accounts receivable (net) 33,774 Inventory 37,691 Property, plant, and equipment 215,705 Total assets $329,742 Liabilities and Stockholders’ Equity Line Item Description Amount Current liabilities $68,960 Long-term liabilities 98,919 Common stock, $10 par 64,740 Retained earnings 97,123 Total liabilities and stockholders’ equity $329,742 Income Statement Line Item Description Amount Sales $91,805 Cost of goods sold (41,312) Gross profit $50,493 Operating expenses (28,002) Net income $22,491 Number of shares of common stock 6,474 Market price of common stock $28 What is the current ratio?Assets Line Item Description Amount Cash and short-term investments $39,965 Accounts receivable (net) 29,855 Inventory 25,669 Property, plant, and equipment 257,215 Total assets $352,704 Liabilities and Stockholders’ Equity Line Item Description Amount Current liabilities $68,970 Long-term liabilities 99,521 Common stock, $20 par 120,220 Retained earnings 63,993 Total liabilities and stockholders' equity $352,704 Income Statement Line Item Description Amount Sales $80,599 Cost of goods sold (36,270) Gross profit $44,329 Operating expenses (28,493) Net income $15,836 Line Item Description Amount Shares of common stock 6,011 Market price per share of common stock $20 Dividends per share $1.00 Cash provided by operations $40,000 What is the return on stockholders' equity?
- Calculate the following for Co. XYZ: c. Average collection period (365 days) d. Times interest earned Assets: Cash and marketable securities $400,000Accounts receivable 1,415,000Inventories 1,847,500Prepaid expenses 24,000Total current assets $3,686,500Fixed assets 2,800,000Less: accumulated depreciation 1,087,500Net fixed assets $1,712,500Total assets $5,399,000Liabilities: Accounts payable $600,000Notes payable 875,000Accrued taxes Total current liabilities $1,567,000Long-term debt 900,000Owner's equity Total liabilities and owner's equity Co. XYZ Income Statement: Net sales (all credit) $6,375,000Less: Cost of goods sold 4,375,000Selling and administrative expense 1,000,500Depreciation expense 135,000Interest expense Earnings before taxes $765,000Income taxes Net income Common stock dividends $230,000Change in retained earningsCurrent Attempt in Progress XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g.…SNIDER CORPORATIONBalance SheetDecember 31, 20X1 Assets Current assets: Cash $ 52,200 Marketable securities 24,400 Accounts receivable (net) 222,000 Inventory 238,000 Total current assets $ 536,600 Investments 65,900 Plant and equipment. $615,000 Less: Accumulated depreciation 271,000 Net plant and equipment 344,000 Total assets $ 946,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 93,400 Notes payable 70,600 Accrued taxes 17,000 Total current liabilities $ 181,000 Long-term liabilities: Bonds payable 153,200 Total liabilities $ 334,200 Stockholders' equity Preferred stock, $50 par value $ 100,000 Common stock, $1 par value 80,000 Capital paid in excess of par 190,000 Retained earnings 242,300 Total stockholders' equity $ 612,300 Total liabilities and stockholders' equity $ 946,500…
- Ledger Properties of XYZ Itd has the following financlal information: Current Prior Year Year Revenues $18,915 $13,610 Administrative 2,106 1,602 expenses Interest expense 816 468 Cost of goods 9,715 6,309 sold Depreciation 408 387 Net fixed assets 12,711 11,984 Current liabilities 4,652 4,625 Common stock 5,000 4,000 Current assets 6,506 4,687 Long-term debt 2,200 ? Retained earnings 1365 246 Dividends paid 290 275 What is the cash flow of the firm for the current year if the tax rate is 12 percent? Select one:a. 1500 b. 2096 c. 25000The comparative balance sheet of Gus Company at December 31, 2024 and 2023 appears below:Assets:12/31/202412/31/2023Cash$ 53,000 $ 120,000 Accounts receivable (net)37,000 48,000 Inventories108,500 100,000 Equipment573,200 450,000 Accumulated depreciation-equipment (142,000) (176,000) $629,700 $542,000 Liabilities & Stockholders Equity: Accounts payable$ 62,500 $ 43,800 Bonds payable, due June 20240 100,000 Common stock, $10 par335,000 285,000 Paid-in capital in excess of par - Common stock74,000 55,000 Retained earnings 158,200 58,200 $629,700 $542,000 The income statement for the year ended December 31, 2024 appears below:Sales $625,700 Cost of merchandise sold 340,000 Gross profit 285,700 Operating expenses (includes $26,000 depreciation expense) 94,000 Operating Income 191,700 Interest expense 6,000Income before income tax 185,700 Income tax 60,700 Net income $125,000 Also in 2024, fully depreciated equipment costing $60,000 was scrapped at no salvage…Prepare a classified balance sheet as of December 31, 2022 Cash 49104 Accounts Receivable 44880 Inventory 19976 Land 57200 Buildings 83600 Equipment 35200 Accumulated Dep-Buildings 29040 Accumulated Dep-Equipment 15840 Account Payable 16984 Interest Payable 4400 Dividends Payable 5900 Unearned Rent Revenue 1760 Bonds Payable 44000 Preferred Stock 17600 Paid-in Capital in Excess of Par-Preferred Stock 1760 Common Stock 35200 Paid-in Capital in Excess of Par-Common Stock 16720 Retained Earnings 66044 Treasury Stock 12936 Cash Dividends 5940 Sales Revenue 501600 Rent Revenue 5280 Bad Debt Expense 4092 Interest Expense 4400 Cost of Goods Sold 352000 Depreciation Expense 5808 Other Operating Expenses 34320 Salaries and Wages Expenses 57200 766656 766656
- Total fixed assets 31420 OMR Total long term liabilities 9970 OMR Total current assets 18930 OMR Total current liabilities 4765 OMR Shareholders’ funds 35615 OMR Capital employed 45585 OMR Gross profit 175000 OMR Net profit 113950 OMR Return on capital employed 25% Current ratio 3.97 Liquid ratio 3.34 Return on Equity 3.191 Gross Profit Margin 53,03% Net Profit Margin 34.53% Q/Give a brief report on the financial position of the company based on the above figures?Given : Total Assets :120.000,Long Term Liabilities : 20.000,Current Assets :80.000, and,Current Liabilities : 60.000Net Profits : 24.000Choose the incorrect Answera) Total Liabilities / Total Sources : 0,67b) Total Debt / Equity :1c) Current Ratio: 1,33d) Return on assets : 0,20XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.): Current Ratio ? times…