10 4 points Presented here are the comparative balance sheets of Hames Incorporated at December 31,...
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10 4 points Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022. Sales for the year ended December 31, 2023, totaled $550,000. HAMES INCORPORATED Balance Sheets. December 31, 2023 and 2022 2023 2022 eBook References Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts payable Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively Retained earnings: Beginning balance Net income for the year Dividends for the year Ending balance Total stockholders' equity Total liabilities and stockholders' equity $ 23,000 78,000 103,000 $ 204,000 50,000 125,000 (65,000) $314,000 $ 18,000 65,600 20,000 $ 103,600 22,000 $ 125,600 $ 74,000 $ 81,500 52,900 (20,000) $ 20,000 72,000 99,000 $191,000 40,000 110,000 (60,000) $ 281,000 $ 17,000 75,500 18,000 $ 110,500 30,000 $ 140,500 $ 59,000 $ 85,000 1,500 (5,000) $ 81,500 $ 114,400 $ 188,400 $314,000 $ 140,500 $ 281,000 Required: Mc Graw Topic 2 Assignment Prov Saved 10 4 points eBook References Required: a. Calculate ROI for 2023. Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. b. Calculate ROE for 2023. Note: Round your answer to 1 decimal place. c. Calculate working capital at December 31, 2023. d. Calculate the current ratio at December 31, 2023. Note: Round your answer to 2 decimal places. e. Calculate the acid-test ratio at December 31, 2023. Note: Round your answer to 2 decimal places. f. Assume that on December 31, 2023, the treasurer of Hames decided to pay $15,000 of accounts payable. What impact, if any, this payment will have on the answers you calculated for parts a-d (increase, decrease, or no effect). g. Assume that instead of paying $15,000 of accounts payable on December 31, 2023. Hames collected $15,000 of accounts receivable. What impact, if any, this receipt will have on the answers you calculated for parts a-d (increase, decrease, or no effect). a. ROI b. ROE c. Working capital d. Current ratio e. Acid test ratio f. ROI f. ROE f. Working capital f. Current ratio 0.50 % 0.9 % Mc g. ROI g. ROE g. Working capital g. Current ratio Help Save & Exit Submit Check my work Help Save & Exit Submit Check my work 10 4 points Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022. Sales for the year ended December 31, 2023, totaled $550,000. HAMES INCORPORATED Balance Sheets. December 31, 2023 and 2022 2023 2022 eBook References Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts payable Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively Retained earnings: Beginning balance Net income for the year Dividends for the year Ending balance Total stockholders' equity Total liabilities and stockholders' equity $ 23,000 78,000 103,000 $ 204,000 50,000 125,000 (65,000) $314,000 $ 18,000 65,600 20,000 $ 103,600 22,000 $ 125,600 $ 74,000 $ 81,500 52,900 (20,000) $ 20,000 72,000 99,000 $191,000 40,000 110,000 (60,000) $ 281,000 $ 17,000 75,500 18,000 $ 110,500 30,000 $ 140,500 $ 59,000 $ 85,000 1,500 (5,000) $ 81,500 $ 114,400 $ 188,400 $314,000 $ 140,500 $ 281,000 Required: Mc Graw Topic 2 Assignment Prov Saved 10 4 points eBook References Required: a. Calculate ROI for 2023. Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. b. Calculate ROE for 2023. Note: Round your answer to 1 decimal place. c. Calculate working capital at December 31, 2023. d. Calculate the current ratio at December 31, 2023. Note: Round your answer to 2 decimal places. e. Calculate the acid-test ratio at December 31, 2023. Note: Round your answer to 2 decimal places. f. Assume that on December 31, 2023, the treasurer of Hames decided to pay $15,000 of accounts payable. What impact, if any, this payment will have on the answers you calculated for parts a-d (increase, decrease, or no effect). g. Assume that instead of paying $15,000 of accounts payable on December 31, 2023. Hames collected $15,000 of accounts receivable. What impact, if any, this receipt will have on the answers you calculated for parts a-d (increase, decrease, or no effect). a. ROI b. ROE c. Working capital d. Current ratio e. Acid test ratio f. ROI f. ROE f. Working capital f. Current ratio 0.50 % 0.9 % Mc g. ROI g. ROE g. Working capital g. Current ratio Help Save & Exit Submit Check my work Help Save & Exit Submit Check my work
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Related Book For
Accounting What the Numbers Mean
ISBN: 978-0073527062
9th Edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,
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