1. Below is the financial data pertaining to Printcraft Inc.: 2020 2021 2022 Accounts Payable 22,500 17,500...
Question:
1. Below is the financial data pertaining to Printcraft Inc.:
| | 2020 | 2021 | 2022 |
| Accounts Payable | 22,500 | 17,500 | 15,450 |
| COGS | 102,750 | 98,000 | 96,450 |
| Beg. Inv | 130,000 | 121,750 | 101,500 |
| End. Inv | 121,750 | 101,500 | 112,500 |
Instructions
Compute the accounts payable turnover ratio for 2022 (place solution in space below at up to 2 decimal places).
2.
Below is the financial data pertaining to Printcraft Inc.:
| | 2020 | 2021 | 2022 |
| Accounts Payable | 22,500 | 17,500 | 15,450 |
| COGS | 102,750 | 98,000 | 96,450 |
| Beg. Inv | 130,000 | 121,750 | 101,500 |
| End. Inv | 121,750 | 101,500 | 112,500 |
Instructions
Compute the accounts payable payment period for 2022 (use 365 days per year and place solution to 2 decimal places in space below).
3.
Othello Corporation purchases Shakespeare Inc. for $3.5 M. Shakespeare has the following assets all recorded at cost:
Accounts Receivable $ 125,000
Inventory $ 350,000
Land $ 500,000
Building (net) $ 350,000
Equipment (net) $ 50,000
Total Assets $1,375,000
The fair value of the assets is $2,350,000 and Othello also assumes $600,000 of debt from Shakespeare.
Instructions
As Othello purchases Shakespeare, what is the value of the goodwill?(place value without $ sign in space below)
4.
Pendulum Enterprises has a defined benefit plan. Employees receive a pension equal to 2% of the average of the highest 5 years of salary and based on years of service. On December 31 2020, the fair value of the pension assets in the plan is $10.7 M, although pension contributions were in excess of $12.5 M, and the estimated pension obligation is $12.3M.
By how much is the plan over or underfunded? (place answer without $ sign in the space below in millions of dollars at up to 2 decimal places)
Expert Answer:
Accounte pay able Supplien purchas for 2022 tornovet ratio Ave rage Accounts payabde for 2022 End i... View the full answer
