P15-5 - Name Instructor Financial Accounting 5th Edition by...

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FileName: 5648b5760b35a9105ac64b1ed92130763a11122d.xls, Tab: Problem P15-5, Page 1 of 4, 10/06/2009, 03:40:40 Name: Date: Instructor: Course: Income Statement Data for Year Net sales $39,176 $217,799 Cost of goods sold 27,246 171,562 Selling and administrative expenses 9,962 36,173 Interest expense 464 1,326 Other income (expense) 712 2,013 Income tax expense 842 3,897 Net income $1,374 $6,854 Balance Sheet Data (End of Year) Current assets $9,648 $28,246 Noncurrent assets 14,506 55,205 Total assets $24,154 $83,451 Current liabilities $7,054 $27,282 Long-term debt 9,240 21,067 Total stockholders' equity 7,860 35,102 Total liabilities and stockholders' equity $24,154 $83,451 Beginning-of-Year Balances Total assets $19,490 $78,130 Total stockholders' equity 6,519 31,343 Current liabilities 6,301 28,949 Total liabilities 12,971 46,787 Other Data Average net receivables $1,916 $1,884 Average inventory 4,349 22,028 Net cash provided by operating activities 1,992 10,260 Instructions: Current Assets = 9,648 = 1.4 Current Liabilities 7,054 Current Assets = 28,246 = 1.0 Current Liabilities 27,282 Net Credit Sales = 39,176 = 20.4 Average Net Receivables 1,916 Net Credit Sales = 217,799 = 115.6 Average Net Receivables 1,884 365 = 365 = 17.9 Receivables Turnover 20.4 365 = 365 = 3.2 Receivables Turnover 115.6 Financial Accounting, 5th Edition, by Weygandt, Kieso, and Kimmel Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse Problem P15-5, Selected financial data of Target and Wal-Mart for 2001 are presented here (in millions). Target Corporation Wal-Mart Stores, Inc. (a)(1) Compute the current ratio for each company. Target
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This note was uploaded on 04/04/2009 for the course ACC 321 taught by Professor Ahmedmokhtar during the Spring '09 term at Ain Shams University.

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P15-5 - Name Instructor Financial Accounting 5th Edition by...

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