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Plastics, Inc. is a company that operates in 4 different divisions




Question;Can you assist me with these 2 problems? Accountant (Bizhelp)Problem #1:Plastics, Inc. is a company that operates in 4 different divisions. The following information relating to each segment is available for 2013.Sales Cost of Operating Total Operating IdentifiableRevenue Goods Sold Expenses Expenses Profit (Loss) AssetsBottles $6,000 $26,000 $8,000 $34,000 $31,000 $66,000Containers$95,000 $62,000 $48,000 $110,000 ($15,000) $80,000Dollhouses$620,000 $353,000 $140,000 $493,000 $127,000 $640,000Silverware$18,000 $8,000 $6,500 $14,500 $3,500 $36,000Sales of Segments "Containers" & "Dollhouses" included intersegment sales of $30,000 and $150,000 respectively.Required: Determine which of the segments are reportable based on the following:Revenue testOperating Profit (Loss) TestIdentifiable Assets TestProblem 2:The following information pertains to Walrus Inc.Cash $60,000Accounts receivable 170,000Inventory 100,000Plant assets (net) 582,000Total assets $912,000Accounts payable $110,000Accrued taxes and expenses payable 42,000Long-term debt 120,000Common stock ($10 par) 260,000Paid-in capital in excess of par 50,000Retained earnings 330,000Total equities $912,000Net sales (all on credit) $2,000,000Cost of goods sold 1,400,000Net income 120,000Required:Compute the following:(ignore Average for balance sheet accounts)(a) Current ratio(b) Inventory turnover(c) Receivables turnover(d) Book value per share(e) Earnings per share(f) Debt to total assets(g) Profit margin on sales(h) Return on common stock equity


Paper#44827 | Written in 18-Jul-2015

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