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ADM 1340 Study Guide - Final Guide: Dividend Yield, Legal Personality, Current Liability

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School
University of Ottawa
Department
Administration
Course
ADM 1340
Professor
Heri Rakotovololona

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ADM 1340 Full Course Notes
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Related Questions

FINANCIAL STATEMENT

CURRENT YEAR PRECEDING YEAR

BALANCE SHEET

CASH $15,000. $20,000.

SHORT-TERM INVESTMENTS 11,000. 27,000.

NET ACCOUNTS RECEIVABLE 54,000. 73,000.

MERCHANDISE INVENTORY 77,000. 69,000.

PREPAID EXPENSES 15,000. 9,000.

TOTAL CURRENT ASSETS 172,000. 198,000.

TOTAL CURRENT LIABILITIES 133,000. 93,000.

INCOME STATEMENT

NET CREDIT SALES $462,000.

COGS 315,000.

1. Compute the ratios for the current year a. Currentratio b. Cash ratio c. Acid-test ratio d. Investment turnover e.Days sales in inventory (84 days) f. Days sales in receivables g.Gross profit percentage.

DuckWing Stores (DWS) reported sales of $620,000 for the year;one-half of sales were on credit. The average gross profitpercentage was 25 percent on sales. Account balances follow:

Beginning Ending
Accounts receivable (net) $41,000 $59,000
Inventory 57,000 36,000
Requirement 1:

Compute the turnover ratios for accounts receivable andinventory. (Round your answersto 1 decimal place.)

Receivable turnover ratio
Inventory turnover ratio

Requirement 2:

Calculate the average days to collect receivables and theaverage days to sell inventory. (Round your answers to 1 decimalplace.)

Days to collect days
Days to sell days

Total asset turnover 2.3times

Average collection period( assume a 365 day year) 8.7 days

Fixed assets turnover 5.1 times

Inventory turnover ( based on cost of goods sold ) 3.4

Current ratio 1.7

sales ( all on credit ) $ 4.23 million

cost of goods sold 80%

Debt ratio 55%

Use the following industry average ratios to construct a proforma balance sheet for Carlos Menza, Inc.

The company cost of goods sold is $..... ( round to the nearestdollar )

The company total assets are $.....( round to the nearest dollar)

The company fixed assets are $ ....( round to the nearest dollar)

The company accounts receivables is $ .....( round to thenearest dollar )

The company inventories are $.......( round to the nearestdollar )

The company current liabilities are $ .....( round to thenearest dollar )

The company's total liabilities are $ .....( round to thenearest dollar )

complete Carlos Menza balance sheet below ......( round to thenearest dollar )

Carlos Menza

Pro Forma Balance Sheet Cash $..... Current liabilities $ ....

Account receivable.......... Long-term debt ......

Inventory........ Total liabilities $ ......

Net fixedassets........ Common equity .....

Total$....... Total $ .........