Check_Figures-ch5 - E5-14 Oct. 1, 2006, Dr. Note receiv.,...

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Check Figures for Chapter 5 BE 5-1 2006 gross profit, $1,800,000 BE 5-2 2007 gross profit, $90,000 BE 5-4 Deferred gross profit BE 5-6 Percentage of completion, 40% BR 5-7 Accounts receivable, $2,000,000 BE 5-8 Year 2, $4,000,000 BE 5-11 Receivables turnover ratio, 5.45 BE 5-12 Return on assets, 8.1% BE 5-13 Cost of goods sold, $450,000 E5-1 Req. 1, 2006 gross profit, $52,500 E5-3 Req. 2, 2007 gross profit, $45,000 E5-5 Req. 2, gross profit, $300,000 E5-6 Req. 2, 2006 gain on sale of land, $96,000 E5-7 Req. 1, 2006 gross profit, $100,000 E5-8 2008 gross profit, $23.33 million E5-9 2007 gross profit, $(766,667) E5-10 Req. 1, 2007 gross profit, $(100,000) E5-11 Situation 1, 2007 gross profit, $233,333 E5-12 Req. 1, Costs incurred 2006, $80,000 E5-13 Req. 1, Software revenue, $189,000
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Unformatted text preview: E5-14 Oct. 1, 2006, Dr. Note receiv., $180,000 E5-15 1. c E5-16 8. k E5-17 Req. 1, 2.79 times E5-18 Receivables turnover ratio, 13.33 times E5-19 Return on assets, 10% E5-20 2. d P5-1 Income before extraordinary item, $2,208,000 P5-2 Req. 1, 2007 gross profit, $85,000 P5-3 Req. 1, Install. sales method, 8/31/06, $40,000 P5-4 Req. 1, 2007 gross profit, $900,000 P5-5 Req. 1, 2008 gross profit, $1,800,000 P5-6 Req. 1, 2008 gross profit, $(50,000) P5-7 Req. 1, Sept. 30, Cr. Service rev., $1,200 P5-8 8. 21.1% P5-9 Req. 1, J&J inventory turnover, 3.39 times P5-10 a. Net income, $20 P5-11 Req. 1, Republic return on assets, 10.6% P5-12 Net income, $48,320...
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