Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

A firm has a total debt ratio of .47. this means the firm has 47 cents in debt for every:

16/11/2020 Client: papadok01 Deadline: 3 days

-

1.

Which one of the following assets is generally the most liquid?

inventory

buildings

accounts receivable

equipment

patents

2.

It is easier to evaluate a firm using its financial statements when the firm:

is a conglomerate.

is global in nature.

uses the same accounting procedures as other firms in its industry.

has a different fiscal year than other firms in its industry.

tends to have one-time events such as asset sales and property acquisitions.

3.

Which one of the following is a current liability?

amount due to a supplier in 18 months

debt payable to a mortgage company in nine months

estimated taxes just paid

loan payment due in 13 months

amount due from a customer in 30 days

4.

Award: 1 out of 2.00 points

During 2015, Rainbow Umbrella Corp. had sales of $740,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $550,000, $90,000, and $95,000, respectively. In addition, the company had an interest expense of $94,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.)

a.

What is the company's net income for 2015? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.)

Net income

$

b.

What is its operating cash flow? (Do not round intermediate calculations.)

Operating cash flow

$

During 2015, Rainbow Umbrella Corp. had sales of $740,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $550,000, $90,000, and $95,000, respectively. In addition, the company had an interest expense of $94,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.)

a.

What is the company's net income for 2015? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.)


b.

What is its operating cash flow? (Do not round intermediate calculations.)

5.

Which one of these is a correct definition?

Net working capital equals current assets plus current liabilities.

Current liabilities are debts that must be repaid in 18 months or less.

Current assets are assets with short lives, such as inventory.

Long-term debt is defined as a residual claim on a firm’s assets.

Tangible assets are fixed assets such as patents.

6.

Award: 10 out of 10.00 points

Sankey, Inc., has current assets of $5,125, net fixed assets of $25,600, current liabilities of $4,500, and long-term debt of $9,900. (Do not round intermediate calculations.)

What is the value of the shareholders' equity account for this firm?

How much is net working capital?

Net working capital

Sankey, Inc., has current assets of $5,125, net fixed assets of $25,600, current liabilities of $4,500, and long-term debt of $9,900. (Do not round intermediate calculations.)

What is the value of the shareholders' equity account for this firm?

Shareholders' equity

$

How much is net working capital?

Net working capital

$

7.

Shelton, Inc., has sales of $390,000, costs of $178,000, depreciation expense of $43,000, interest expense of $24,000, and a tax rate of 40 percent. (Do not round intermediate calculations.)

What is the net income for the firm?

8.

During the year, the Senbet Discount Tire Company had gross sales of $1.25 million. The firm’s cost of goods sold and selling expenses were $544,000 and $234,000, respectively. The firm also had notes payable of $990,000. These notes carried an interest rate of 6 percent. Depreciation was $149,000. The firm’s tax rate was 30 percent.

a.

What was the firm’s net income? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.)

Net income


b.

What was the firm’s operating cash flow? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.)

Operating cash flow

References

WorksheetSection: 2.2 The Income StatementSection: 2.5 Cash Flow of the Firm

During the year, the Senbet Discount Tire Company had gross sales of $1.25 million. The firm’s cost of goods sold and selling expenses were $544,000 and $234,000, respectively. The firm also had notes payable of $990,000. These notes carried an interest rate of 6 percent. Depreciation was $149,000. The firm’s tax rate was 30 percent.

a.

What was the firm’s net income? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.)

Net income

$

b.

What was the firm’s operating cash flow? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.)

Operating cash flow

$

9.

Use the following information for Ingersoll, Inc., (assume the tax rate is 40 percent):

2014

2015

Sales

$

8,335

$

8,909

Depreciation

1,175

1,176

Cost of goods sold

2,746

3,110

Other expenses

689

584

Interest

575

653

Cash

4,159

5,253

Accounts receivable

5,489

6,177

Short-term notes payable

844

796

Long-term debt

14,010

16,550

Net fixed assets

34,955

35,877

Accounts payable

4,416

4,235

Inventory

9,720

9,988

Dividends

1,006

1,101

Prepare an income statement for this company for 2014 and 2015. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.)






Use the following information for Ingersoll, Inc., (assume the tax rate is 40 percent):

2014

2015

Sales

$

8,335

$

8,909

Depreciation

1,175

1,176

Cost of goods sold

2,746

3,110

Other expenses

689

584

Interest

575

653

Cash

4,159

5,253

Accounts receivable

5,489

6,177

Short-term notes payable

844

796

Long-term debt

14,010

16,550

Net fixed assets

34,955

35,877

Accounts payable

4,416

4,235

Inventory

9,720

9,988

Dividends

1,006

1,101

Prepare an income statement for this company for 2014 and 2015. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.)

Prepare the balance sheet for this company for 2014 and 2015. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.)























10.

The total asset turnover ratio measures the amount of:

total assets needed for every $1 of sales.

sales generated by every $1 in total assets.

fixed assets required for every $1 of sales.

net income generated by every $1 in total assets.

net income than can be generated by every $1 of fixed assets.

11.

Al's Sport Store has sales of $3,190, costs of goods sold of $2,030, inventory of $548, and accounts receivable of $424. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?

97.2

111.1

62.7

109.0

98.5

Inventory turnover = $2,030/$548 = 3.7044 Days in inventory = 365/3.7044 = 98.53 days

12.

A firm has total debt of $1,090 and a debt-equity ratio of .32. What is the value of the total assets?

$4,496

$1,439

$3,406

$3,498

$3,200

Total equity = $1,090 / .32 = $3,406

Total assets = $1,090 + $3,406= $4,496

13.

Ratios that measure a firm's ability to pay its bills over the short run without undue stress are known as:

asset management ratios.

long-term solvency measures.

liquidity measures.

profitability ratios.

market value ratios.

14.

The debt-equity ratio is measured as:

total equity divided by long-term debt.

total equity divided by total debt.

total debt divided by total equity.

long-term debt divided by total equity.

total assets minus total debt, divided by total equity.

15.

The Purple Martin has annual sales of $4,800, total debt of $1,210, total equity of $2,500, and a profit margin of 7 percent. What is the return on assets?

7.00 percent

9.06 percent

27.77 percent

13.44 percent

11.74 percent

16.

Ratios that measure how efficiently a firm's management uses its assets and equity to generate bottom line net income are known as _______ ratios.

asset management

long-term solvency

short-term solvency

profitability

market value

17.

Which statement expresses all accounts as a percentage of total assets?

pro forma balance sheet

common-size income statement

statement of cash flows

pro forma income statement

common-size balance sheet

18.

A firm has a total debt ratio of .47. This means the firm has 47 cents in debt for every:

$1 in total equity.

$.53 in total assets.

$1 in current assets.

$.53 in total equity.

$1 in fixed assets.

19.

The quick ratio is measured as:

current assets divided by current liabilities.

cash on hand plus current liabilities, divided by current assets.

current liabilities divided by current assets, plus inventory.

current assets minus inventory, divided by current liabilities.

current assets minus inventory minus current liabilities.

20.

The current ratio is measured as:

current assets minus current liabilities.

current assets divided by current liabilities.

current liabilities minus inventory, divided by current assets.

cash on hand divided by current liabilities.

current liabilities divided by current assets.

21.

The higher the inventory turnover, the:

less time inventory items remain on the shelf.

higher the inventory as a percentage of total assets.

longer it takes a firm to sell its inventory.

greater the amount of inventory held by a firm.

lesser the amount of inventory held by a firm.

22.

The receivables turnover ratio is measured as:

sales plus accounts receivable.

sales divided by accounts receivable.

sales minus accounts receivable, divided by sales.

accounts receivable times sales.

accounts receivable divided by sales.

References

23.

Galaxy United, Inc.
2009 Income Statement
($ in millions)

Net sales

$8,550

Less: Cost of goods sold

7,180

Less: Depreciation

400

Earnings before interest and taxes

970

Less: Interest paid

83

Taxable Income

887

Less: Taxes

310

Net income

$ 576

Galaxy United, Inc.
2008 and 2009 Balance Sheets
($ in millions)

2008

2009

2008

2009

Cash

$ 130

$ 150

Accounts payable

$1,110

$1,150

Accounts rec.

940

770

Long-term debt

1,000

1,155

Inventory

1,470

1,520

Common stock

$3,140

$2,940

Sub-total

$2,540

$2,440

Retained earnings

520

795

Net fixed assets

3,230

3,600

Total assets

$5,770

$6,040

Total liab. & equity

$5,770

$6,040

What is the return on equity for 2009?

rev: 01_14_2016_QC_CS-37830

10 percent

13 percent

16 percent

18 percent

15 percent

24.

If Wilkinson, Inc., has an equity multiplier of 1.57, total asset turnover of 1.7, and a profit margin of 6.7 percent, what is its ROE? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

ROE

References

If Wilkinson, Inc., has an equity multiplier of 1.57, total asset turnover of 1.7, and a profit margin of 6.7 percent, what is its ROE? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

ROE

%

25.

The financial ratio measured as net income divided by sales is known as the firm's:

profit margin.

return on assets.

return on equity.

asset turnover.

earnings before interest and taxes.

26.

The financial ratio that measures the accounting profit per dollar of book equity is referred to as the:

profit margin.

price-earnings ratio.

return on equity.

equity turnover.

market profit-to-book ratio.

27.

Puffy's Pastries generates five cents of net income for every $1 in equity. Thus, Puffy's has _______ of 5 percent.

a return on assets

a profit margin

a return on equity

an EV multiple

a price-earnings ratio

28.

If stockholders want to know how much profit the firm is making on their entire investment in that firm, the stockholders should refer to the:

profit margin.

return on assets.

return on equity.

equity multiplier.

earnings per share.

29.

The most effective method of directly evaluating the financial performance of a firm is to compare the financial ratios of the firm to:

the firm?s ratios from prior time periods and to the ratios of firms with similar operations.

the average ratios of all firms within the same country over a period of time.

those of other firms located in the same geographic area that are similarly sized.

the average ratios of the firm?s international peer group.

those of the largest conglomerate that has operations in the same industry as the firm.

30.

Which one of these equations is an accurate expression of the balance sheet?

Assets ? Liabilities −Stockholders? equity

Stockholders? equity ? Assets + Liabilities

Liabilities ? Stockholders? equity −Assets

Assets ? Stockholders? equity −Liabilities

Stockholders? equity ? Assets −Liabilities

31.-

1.

Which one of the following assets is generally the most liquid?

inventory

buildings

accounts receivable

equipment

patents

2.

It is easier to evaluate a firm using its financial statements when the firm:

is a conglomerate.

is global in nature.

uses the same accounting procedures as other firms in its industry.

has a different fiscal year than other firms in its industry.

tends to have one-time events such as asset sales and property acquisitions.

3.

Which one of the following is a current liability?

amount due to a supplier in 18 months

debt payable to a mortgage company in nine months

estimated taxes just paid

loan payment due in 13 months

amount due from a customer in 30 days

4.

Award: 1 out of 2.00 points

During 2015, Rainbow Umbrella Corp. had sales of $740,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $550,000, $90,000, and $95,000, respectively. In addition, the company had an interest expense of $94,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.)

a.

What is the company's net income for 2015? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.)

Net income

$

b.

What is its operating cash flow? (Do not round intermediate calculations.)

Operating cash flow

$

During 2015, Rainbow Umbrella Corp. had sales of $740,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $550,000, $90,000, and $95,000, respectively. In addition, the company had an interest expense of $94,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.)

a.

What is the company's net income for 2015? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.)


b.

What is its operating cash flow? (Do not round intermediate calculations.)

5.

Which one of these is a correct definition?

Net working capital equals current assets plus current liabilities.

Current liabilities are debts that must be repaid in 18 months or less.

Current assets are assets with short lives, such as inventory.

Long-term debt is defined as a residual claim on a firm’s assets.

Tangible assets are fixed assets such as patents.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Writer Writer Name Offer Chat

Writers are writing their proposals. Just wait here to get the offers for your project...

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Engineering assignment - Psychtests com iq test - What you pawn i will redeem analysis - Discussion question - Environmental Science - Duties of a uber driver - Which describes harmony in renaissance music? - Transjugular intrahepatic portosystemic shunt icd 10 procedure code - Mcdonald's darling quarter haymarket nsw - Linuxzoo.net Permissions tutorial - Noneffective Communication - Human resource information system ppt presentation - Carbonate and acid reaction equation - Fry's third 100 words - Legal and ethical considerations for group and family therapy - Go float electric boat - 8051 risc or cisc - K ang hsi emperor - Career goals essay for internship - Entertainer who sang about deeds of knights - Journal - Legal environment ESSAY - Batter my heart as a metaphysical poem - Barrier Analysis Worksheet Project - Attachment theory and social work values - If n = 15 and p = .4, then the standard deviation of the binomial distribution is - Database design project proposal example - Literature Review - Which monetary policy tool does the fed use most infrequently - The cruelest journey analyzing the text - ERD Diagram / Prototype Assignment (Fund of data systems) - Can someone help ? - Jain institute of management - Hierarchy structure of tata steel - If two polygons are similar then they are congruent - Writing Help - Attendance monitoring and payroll system thesis - The first microwave oven was introduced in 1967 - Keysight 34450a programmer's reference - Connect wincc to sql server - A cube has 12 edges - Capital structure of samsung company - Ey lease accounting guide 840 - The restocking level increases as the service level falls - In cell e15 enter a formula - How to calculate annual depreciation straight line method - Mcdonalds action plan template - Project Human Resources and Communications Management Assignment - Bsn essentials - Write a five sentence paragraph using chronological order - 207/108 glen iris road - Delimitation of the study example - Just need to re write this in diferent words so no pagirism - Heat saver flue system - Herrmann brain dominance test - Boeing 767 takeoff distance - What is the barometric pressure in phoenix - Capital structure of apple inc - Amp-twist f-utp 6a sl tool - Practical strategies for technical communication edition 2 - Org Behavior Reflection, Discussion and Assignment - Red bull marketing plan pdf - Musee des beaux arts literary devices - Taylormade r580 xd driver illegal - Mapping the Issue- Final - Compared to piaget vygotsky placed more emphasis on - Percent by mass of nahco3 in alka seltzer - Art-labeling activity: the structure of the epidermis - Hospital giant ds rom - +27737189846,Al Barsha 1®=Safe Affordable Misoprostol 200 mcg Mifepack tablets For Sale in Ajman®Buy MTP KIT, - Case study- Pharmacology WK2 - College algebra - Financial Management and Policies - Carb cycling excel spreadsheet - How is strategic management illustrated by this case story - Whatever happened to crazy eddie - In the planning stage analytical procedures are used to - M3:writing assignment #1 - Hands off doctrine - Chapter 14 the importance of warranties worksheet answers - Can you swallow razzles - Pd online moreton bay - Ballard integrated managed services inc part 2 - The ford pinto gas tank explosion - Exel plc supply chain management at haus mart case analysis - Vocabulary - Week 6 Tort law Questions - Becoming a critically reflective teacher 1995 - Step response of lti system - Thomas the daemon engine - Comparision Summary - Current issues and enduring questions 12th edition - Qca schemes of work science ks3 - College algebra equation - Nova lab mission 5 answers - Usyd parking on campus - Performance pay for mgoa physicians - Allroad parts competitive strategy - The underground railroad quotes with page numbers - Rock and roll elmo broken