Question # 00003594 Posted By: spqr Updated on: 11/16/2013 08:45 AM Due on: 11/29/2013
Subject Accounting Topic Accounting Tutorials:
Question

Q10. The following data applies to Kaiser company(millions of dollars):

 Cash & marketable securities \$ 100 Fixed assets \$283.5 Sales \$1,000 Net income \$50 Quick ratio 2.0x Current ratio 3.0x DSO (average collection period)* 40 days ROE 12%

*Calculation is based on a 360 day year.

Kaiser has no preferred stock – only common equity, current liabilities, and long-term debt.

Find Kaiser’s (1) accounts receivable (A/R), (2) current liabilities, (3) current assets,

(4) total assets, (5) ROA, ( 6 ) common equity, and (7) long-term debt.

Q11. Ace industries have current assets equal to Rs. 3 Million. The company’s current ratio is 1.5, and its quick ratio is 1.0.

a) What is the firm’s level of current liabilities?

b) What is the firm’s level of inventories?

Q12.Complete the balance sheet and sales information in the table that follows for Hoffmeister Industries using the following financial data:

Debt ratio: 50%

Quick ratio: 0.80x

Total assets turnover: 1.5x

Days sales outstanding / average collection period: 36 days*

Gross profit margin on sales: (sales – cost of goods sold)/sales = 25%

Inventory turnover ratio: 5x

*Calculation is based on a 360 day year.

 Balance Sheet Assets \$ Liabilities & Equity \$ Cash Accounts payable Accounts receivable Long-term debt 60,000 Inventory Common stock Fixed assets Retained earnings 97,500 Total Assets 300,000 Total Liabilities & Equity Sales Cost of Goods Sold

Tutorials for this Question
1. ## Solution: accounts data bank

Tutorial # 00003405 Posted By: spqr Posted on: 11/16/2013 09:23 AM
Puchased By: 2
Tutorial Preview
The solution of accounts data bank...
Attachments
617.docx (1536.57 KB)

Great! We have found the solution of this question!