Accounts Receivable Turnover
The following financial data is from Hi-Tech Instruments' financial
statements (thousands of dollars,...
Accounts Receivable Turnover
The following financial data is from Hi-Tech Instruments' financial
statements (thousands of dollars, except earnings per share.)
2016
Sales revenue
$209,000
Cost of goods sold
125,000
Net income
8,300
Dividends
2,600
Earnings per share
4.15
Hi-Tech Instruments,
Inc.
Balance Sheet
(Thousands of Dollars)
Dec. 31, 2016
Dec. 31, 2015
Assets
Cash
$18,300
$18,000
Accounts receivable (net)
45,000
40,000
Inventory
39,500
43,700
Total current assets
102,800
101,700
Plant assets (net)
52,600
50,500
Other assets
15,600
13,800
Total assets...
Following is the balance sheet of Gibson Company for 2018:
GIBSON COMPANY
Balance sheet
Assets
Cash...
Following is the balance sheet of Gibson Company for 2018:
GIBSON COMPANY
Balance sheet
Assets
Cash
$
14,550
Marketable securities
7,860
Accounts receivable
12,860
Inventory
10,900
Property and equipment
168,000
Accumulated depreciation
(12,900
)
Total assets
$
201,270
Liabilities and Stockholders’ Equity
Accounts payable
$
8,090
Current notes payable
3,640
Mortgage payable
4,450
Bonds payable
22,020
Common stock
113,200
Retained earnings
49,870
Total liabilities and stockholders’ equity
$
201,270
The average number of common stock shares outstanding during
2018 was...
Following is the balance sheet of Gibson Company for 2018:
GIBSON COMPANY
Balance sheet
Assets
Cash...
Following is the balance sheet of Gibson Company for 2018:
GIBSON COMPANY
Balance sheet
Assets
Cash
$
14,550
Marketable securities
7,860
Accounts receivable
12,860
Inventory
10,900
Property and equipment
168,000
Accumulated depreciation
(12,900
)
Total assets
$
201,270
Liabilities and Stockholders’ Equity
Accounts payable
$
8,090
Current notes payable
3,640
Mortgage payable
4,450
Bonds payable
22,020
Common stock
113,200
Retained earnings
49,870
Total liabilities and stockholders’ equity
$
201,270
The average number of common stock shares outstanding during
2018 was...
Following is the balance sheet of Munoz Company for Year
3:
MUNOZ COMPANY
Balance sheet
Assets...
Following is the balance sheet of Munoz Company for Year
3:
MUNOZ COMPANY
Balance sheet
Assets
Cash
$
15,200
Marketable securities
7,580
Accounts receivable
13,400
Inventory
11,200
Property and equipment
169,500
Accumulated depreciation
(12,200
)
Total assets
$
204,680
Liabilities and Stockholders’ Equity
Accounts payable
$
8,690
Current notes payable
3,320
Mortgage payable
4,550
Bonds payable
21,240
Common stock
114,400
Retained earnings
52,480
Total liabilities and stockholders’ equity
$
204,680
The average number of common stock shares outstanding during Year...
The following financial data is from Hi-Tech Instruments'
financial statements (thousands of dollars, except earnings per...
The following financial data is from Hi-Tech Instruments'
financial statements (thousands of dollars, except earnings per
share.)
2016
Sales revenue
$210,000
Cost of goods sold
125,000
Net income
8,300
Dividends
2,600
Earnings per share
4.15
Hi-Tech Instruments,
Inc.
Balance Sheet
(Thousands of Dollars)
Dec. 31, 2016
Dec. 31, 2015
Assets
Cash
19,300
$18,000
Accounts receivable (net)
46,000
41,000
Inventory
39,500
43,700
Total current assets
104,800
102,700
Plant assets (net)
52,600
50,500
Other assets
15,600
13,800
Total assets
173,000
$167,000
Liabilities...
The balance sheet for Stud Clothiers is shown next. Sales for
the year were $3,490,000, with...
The balance sheet for Stud Clothiers is shown next. Sales for
the year were $3,490,000, with 75 percent of sales sold on
credit.
STUD CLOTHIERS
Balance Sheet 20X1
Assets
Liabilities and Equity
Cash
$
38,000
Accounts
payable
$
262,000
Accounts receivable
292,000
Accrued taxes
148,000
Inventory
248,000
Bonds payable (long-term)
178,000
Plant and equipment
500,000
Common stock
100,000
Paid-in capital
150,000
Retained earnings
240,000
Total assets
$
1,078,000
Total liabilities and
equity
$
1,078,000
Compute the following ratios: (Use a...
Consider the following financial statements for Industrial
Supply Company.
(Actual)
December 31,
Balance sheet
Year 1...
Consider the following financial statements for Industrial
Supply Company.
(Actual)
December 31,
Balance sheet
Year 1
Comments
Assets
Cash
$ 400,000
20% increase (assumption)
Accounts receivable
2,000,000
20% increase (assumption)
Inventories
4,400,000
20% increase (assumption)
Total current assets
$ 6,800,000
Fixed assets, net
$ 1,200,000
20% increase (assumption)
Total assets (A)
$ 8,000,000
Liabilities and Equity
Accounts payable (CL)
$ 1,200,000
20% increase (assumption)
Notes payable
1,500,000
Total current liabilities
$ 2,700,000
Long-term debt
500,000
No change (assumption)
Stockholders’ equity
4,800,000
Total liabilities and equity
$ 8,000,000...
Income
Statement
&nbs
Income
Statement
Balance Sheet
Sales $20,000,000 Assets:
Cost of Goods Sold 8,000,000 Cash $ 5,000,000
12,000,000 Marketable Securities 12,500,000
Selling and Administrative 1,600,000 Accounts Receivable, net
2,500,000
Depreciation 3,000,000 Inventory 30,000,000
7,400,000 Prepaid Expenses 5,000,000
Interest 2,000,000 Plant & Equipment 30,000,000
5,400,000
Taxes (40%) 2,160,000 Total Assets
85,000,000
3,240,000
Common Stock Div. 600,000 Liabilities and
Equity:
$2,640,000 Accounts Payable $20,000,000
Notes
Payable
5,000,000
Accrued Expenses
5,000,000
Bonds
25,000,000
Common
Stock
5,000,000
Capital in Excess of Par 10,000,000
Retained...
You have just been hired as a financial analyst for Lydex
Company, a manufacturer of safety...
You have just been hired as a financial analyst for Lydex
Company, a manufacturer of safety helmets. Your boss has asked you
to perform a comprehensive analysis of the company’s financial
statements, including comparing Lydex’s performance to its major
competitors. The company’s financial statements for the last two
years are as follows:
Lydex Company
Comparative Balance Sheet
This Year
Last Year
Assets
Current assets:
Cash
$
1,040,000
$
1,280,000
Marketable securities
0
300,000
Accounts receivable, net
3,020,000
2,120,000
Inventory
3,680,000...
Required information
[The following information applies to the questions
displayed below.]
You have just been hired...
Required information
[The following information applies to the questions
displayed below.]
You have just been hired as a financial analyst for Lydex
Company, a manufacturer of safety helmets. Your boss has asked you
to perform a comprehensive analysis of the company’s financial
statements, including comparing Lydex’s performance to its major
competitors. The company’s financial statements for the last two
years are as follows:
Lydex Company
Comparative Balance Sheet
This Year
Last Year
Assets
Current assets:
Cash
$
980,000
$
1,220,000...