Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Q1) Reflect relationships sustained by convington pike in recent years

Profit margin on sales =5%

return on assets =7.5%

Gross profit margin =40%

inventory turnover ratio = 6times

receivables turnover ratio = 25

acid- test ratio   = .9

current ratio = 2 to 1

return on shareholders\' equity = 10%

debt to equity ratio = 1/3

times interest earned ratio = 12 times

jotted in the margins are the following notes:

net income $15,000

Only one short-term not (5,000); all other current Liabilities are trade accounts

property, plant, and equipment are the only noncurrent assets

bond payable are only noncurrent liabilities

the effective interest rate on short - term notes and bonds is 8%

no investment securities

Cash balance totals $15,000

problems:

you are requested to approximate current year's balances in form of balance sheet and income statement, to extent the information allows. Accompany those financial statement with computations you used to evaluate each amount reported.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M922487

Have any Question? 


Related Questions in Accounting Basics

Assignment - small business analysis and

Assignment - Small Business Analysis and Interpretation Small Business Analysis 1: The following financial statements were prepared for the management of TEDA Ltd. The statements contain some information that will be dis ...

Why do organizations have internal audits compliance audits

Why do organizations have internal audits, compliance audits, or operational audits performed? Provide examples of what type of organization might have each of these audits and for what purpose? Who would want this infor ...

Research problem you are interviewing a client before

Research Problem : You are interviewing a client before preparing his tax return. He indicates that he did not list as income $96,000 received as a recovery for false imprisonment. What should you do with respect to this ...

What a baker doesdiscuss the business activitiesprocesses

What a Baker does? Discuss the business activities/processes of the organisation to show your understanding about the business.

Big alrsquos pizza emporium a subsidiary of big alrsquos

Big Al’s Pizza Emporium, a subsidiary of Big Al’s Pizza, Inc., has decided to sell frozen pizzas in its restaurants. Restaurant customers will take these pizzas home and cook them. The restaurants will sell frozen meat p ...

Assignment 1 - this assignment has 2 parts 1000 word theory

Assignment 1 - This assignment has 2 parts, 1000 word theory interpretation essay and a response to a practical application of the theory. The assignment must be typed, use Arial font, 12, to avoid plagiarism, make sure ...

Assignment - review of current accounting issuestask -in

Assignment - Review of Current Accounting Issues Task - In your accounting career you will be required to analyse current accounting issues and communicate your theoretical understanding to your professional colleagues a ...

Learning outcomeson successful completion of this

Learning Outcomes: On successful completion of this assignment, students will be able to: - Recognise the laws relating to companies in Australia; and - Examine the duties, rights and responsibilities of company officers ...

Changes in accounting principles and changes in accounting

"Changes in Accounting Principles and Changes in Accounting Estimates" Please respond to the following: • From the e-Activity, discuss the accounting principles that the identified company changed, and explain the major ...

A company purchased and installed equipment on january 1 at

A company purchased and installed equipment on January 1 at a total cost of $72,000. Straight-line depreciation was calculated based on the assumption of a five-year life and no salvage value. The equipment was disposed ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate