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Saint MbA 560 week 5 homework




Question;Problem 9-23Ratio analysis;Required;Use the financial statements for Bernard Company from;Problem 9-22 to calculate the following;for 2012 and 2011.;a. Working capital;b. Current ratio;c. Quick ratio;d. Accounts receivable turnover (beginning receivables at;January 1, 2011, were $47,000);e. Average number of days to collect accounts receivable;f. Inventory turnover (beginning inventory at January 1;2011, was $140,000) (Edmonds. Survey of;Accounting. 2012);g. Average number of days to sell inventory;h. Debt to assets ratio;i. Debt to equity ratio;j. Times interest earned;k. Plant assets to long-term debt;l. Net margin;m. Asset turnover;n. Return on investment;o. Return on equity;p. Earnings per share;q. Book value per share of common stock;r. Price-earnings ratio (market price per share: 2011;$11.75, 2012, $12.50);s. Dividend yield on common stock;Problem 10-23Service versus manufacturing companies;Goree Company began operations on January 1, 2011, by;issuing common stock for $30,000 cash.;During 2011, Goree received $40,000 cash from revenue and incurred costs that required $60,000 of cash;payments.;Required;Prepare an income statement, balance sheet, and statement of;cash flows for Goree Company for 2011;under each of the following independent scenarios. (Edmonds. Survey of Accounting. 2012);a.;Goree is a promoter of rock concerts. The $60,000;was paid to provide a rock concert that produced the revenue.;a.;a.b. Goree is in the car rental;business. The $60,000 was paid to purchase automobiles. The automobiles were;purchased on January 1, 2011, had four-year useful lives and no expected salvage;value. Goree uses straight-line depreciation. The revenue was generated by;leasing the automobiles.;a.;a.c. Goree is a manufacturing;company. The $60,000 was paid to purchase the following items.;a.;a.(1 Paid $8,000 cash to;purchase materials that were used to make products during the year.;a.;a.(2 Paid $20,000 cash for wages;of factory workers who made products during the year.;a.;a.(3 Paid $2,000 cash for;salaries of sales and administrative employees.;a.;a.(4 Paid $30,000 cash to;purchase manufacturing equipment. The equipment was used solely to make products.;It had a three-year life and a $6,000 salvage value. The company uses;straight-line depreciation.;a.;a.(5 During 2011, Goree started;and completed 2,000 units of product. The revenue was earned when Goree sold;1,500 units of product to its customers.;a.;a.d. Refer to Requirementc.;Could Goree determine the actual cost of;making the 90th unit of product? How likely is it that the actual cost;of the 90th unit of product was exactly the same as the cost of producing the;408th unit of product? Explain why management may be more interested in average;cost than in actual cost. (Edmonds.;Survey of Accounting. 2012)


Paper#45051 | Written in 18-Jul-2015

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