ACC 151 Extra Credit

ACC 151 Extra Credit - 97,500 100,000 Total liabilities...

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Optional exercises for extra credits Name _________________ The following exercises are NOT required for everybody. If you did it, please return to me on 04/28, Thursday 9:30-10:45 am at Room 204 or 2:00-3:00pm at Room 326 . You will get extra credits for these exercises. Income statement data Net Sales (all on credit) $650,000 Cost of goods sold 425,000 Income before taxes 78,000 Net income 54,600 Balance sheet data Ending Balances Beginning Balances Current Assets: Cash $19,500 $15,000 Accounts receivable (net) 65,000 60,000 Inventory 71,500 64,500 Total current assets 156,000 139,500 Plant and equipment(net) 195,000 183,900 Total assets 351,000 323,400 Current liabilities 62,400 52,700 Bonds payable
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Unformatted text preview: 97,500 100,000 Total liabilities 159,900 152,700 Total equity(all common stock) 191,100 170,700 Use the financial data shown above to calculate the following ratios for the current year: (1) Current ratio= (2) Acid-test ratio= (3) Accounts receivable turnover= (4) Days' sales uncollected= Ending- 36.5 Beginning- 33.69 (5) Inventory turnover= Ending- 6.25 Beginning- 6.25 (6) Days' sales in inventory= Ending- 61.41 (7) Debt ratio= Ending- 0.46 Beginning- 0.47 (8) Profit margin= .084 (9) Return on total assets= .16 (10) Return on common stockholders’ equity= .30 * assume there is no preferred dividend for the current year...
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