Entries by Hannah Wangui

financial statements for Jones Corporation and Smith Corporation

September 9, 2019 in /by

Question 21) Given the financial statements for Jones Corporation and Smith Corporation:   JONES CORPORATIONCurrent AssetsLiabilities  Cash  $126,600    Accounts payable$156,000    Accounts receivable   188,500    Bonds payable (long term) 81,100    Inventory   59,200     Long-Term Assets  Stockholders’ Equity  Gross fixed assets$525,000      Common stock$150,000       Less: Accumulated depreciation 154,100      Paid-in capital 70,000             Net fixed assets*   370,900    Retained earnings 288,100             Total assets  $745,200         Total liabilities and equity$745,200              Sales (on credit)$1,758,000    Cost of goods sold 727,000     Gross profit$1,031,000 […]

 

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income statement

September 9, 2019 in /by

Question 16)Using the income statement for Times Mirror and Glass Co., compute the following ratios:   TIMES MIRROR AND GLASS Co.Income Statement  Sales$270,000    Cost of goods sold 130,000      Gross profit$140,000    Selling and administrative expense 43,200    Lease expense 11,700      Operating profit*$85,100    Interest expense 9,300      Earnings before taxes$75,800    Taxes (30%) 30,320      Earnings after taxes$45,480      *Equals income before interest and taxes.      a.Compute the interest coverage ratio. (Round your […]

 

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Butters Corporation

September 9, 2019 in /by

Question 12)Using the Du Pont method, evaluate the effects of the following relationships for the Butters Corporation.   a.Butters Corporation has a profit margin of 6 percent and its return on assets (investment) is 14 percent.  What is its assets turnover? (Round your answer to 2 decimal places.)     Assets turnover ratio times   b.If the Butters Corporation has a debt-to-total-assets ratio of […]

 

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The Hartnett Corporation

September 9, 2019 in /by

Question 8)The Hartnett Corporation manufactures baseball bats with Pudge Rodriguez’s autograph stamped on them. Each bat sells for $55 and has a variable cost of $29. There are $40,820 in fixed costs involved in the production process.  a.Compute the break-even point in units.    Break-even point units    b.Find the sales (in units) needed to earn a profit of $23,920.    Sales […]

 

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