When completing the problems, you may (optional) use the following abbreviations for selected names in order...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
When completing the problems, you may (optional) use the following abbreviations for selected names in order to save time. Do not abbreviate any other account names not listed here. Full Name Accounts Payable Accounts Receivable Accumulated Amortization Accumulated Depreciation Administrative Expense Amortization Expense Balance Sheet Buildings and Equipment Contributed Capital Depreciation Expense Equipment Income Statement Income Tax Expense Abbreviation A/P A/R Acc. Amort. Acc. Depn. B/S Admin Exp Amort Exp Bldgs & Equip Con. Cap. Depn. Exp Equip. I/S IT Exp. Income Tax Payable IT Pay. Notes Payable N/P Retained Earnings R/E Sales Returns and Allowances SR&A Shareholders' Equity SE Statement of Cash Flows SCF Statement of Retained Earnings SRE Wages Payable Wages Pay. Asset Turnover ratio = Net Sales Revenue / Average Total Assets (Basic) EPS Net Income / Average Number of Shares Outstanding Current Ratio = Current Assets/Current Liabilities Days to Collect=365/Receivables Turnover ratio or Average Net Accounts Receivable / (Net Sales/365) Days to Sell = 365/Inventory Turnover ratio or Average Inventory / (Cost of Goods Sold/365) Debt-to-Assets ratio = Total Liabilities/Total Assets Gross Profit Percentage = [(Net Sales - Cost of Goods Sold)/Net Sales] x 100 Inventory Turnover ratio = Cost of Goods Sold / Average Inventory Net Profit Margin ratio = Net Income / Net Sales Revenue Price/Earnings Ratio = Stock Price (per share) / EPS Receivables Turnover ratio = Net Sales / Average Net Accounts Receivable Return on Equity = Net Income / Average Shareholders' Equity When completing the problems, you may (optional) use the following abbreviations for selected names in order to save time. Do not abbreviate any other account names not listed here. Full Name Accounts Payable Accounts Receivable Accumulated Amortization Accumulated Depreciation Administrative Expense Amortization Expense Balance Sheet Buildings and Equipment Contributed Capital Depreciation Expense Equipment Income Statement Income Tax Expense Abbreviation A/P A/R Acc. Amort. Acc. Depn. B/S Admin Exp Amort Exp Bldgs & Equip Con. Cap. Depn. Exp Equip. I/S IT Exp. Income Tax Payable IT Pay. Notes Payable N/P Retained Earnings R/E Sales Returns and Allowances SR&A Shareholders' Equity SE Statement of Cash Flows SCF Statement of Retained Earnings SRE Wages Payable Wages Pay. Asset Turnover ratio = Net Sales Revenue / Average Total Assets (Basic) EPS Net Income / Average Number of Shares Outstanding Current Ratio = Current Assets/Current Liabilities Days to Collect=365/Receivables Turnover ratio or Average Net Accounts Receivable / (Net Sales/365) Days to Sell = 365/Inventory Turnover ratio or Average Inventory / (Cost of Goods Sold/365) Debt-to-Assets ratio = Total Liabilities/Total Assets Gross Profit Percentage = [(Net Sales - Cost of Goods Sold)/Net Sales] x 100 Inventory Turnover ratio = Cost of Goods Sold / Average Inventory Net Profit Margin ratio = Net Income / Net Sales Revenue Price/Earnings Ratio = Stock Price (per share) / EPS Receivables Turnover ratio = Net Sales / Average Net Accounts Receivable Return on Equity = Net Income / Average Shareholders' Equity
Expert Answer:
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these business communication questions
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
I need help on this read from bottom to top. Image transcription text 7"} The second ?nancial statement to prepare is the statement of retained earnings. To determine the ending balance of...
-
Find the exact value of sin(x - y) if sin(x) = 3T 3T T
-
Twelve years ago, the Archer Corporation borrowed $6,000,000. Since then, cumulative inflation has been 80 percent (a compound rate of approximately 5 percent per year). a. When the firm repays the...
-
In Problem state the converse and the contrapositive of the given proposition. If g(x) is a quadratic function, then g(x) is a function that is neither increasing nor decreasing.
-
5 percent interest per month. The sterilizer was delivered on August 23, 1996. The last payment was received on April 21, 1998. At the time of the last payment, the defendant still owed the plaintiff...
-
Fallen Company commonly issues long-term notes payable to its various lenders. Fallen has had a pretty good credit rating such that its effective borrowing rate is quite low (less than 8% on an...
-
Jane has been offered a research consultancy job to study the impact of inequality of poverty in five SADC countries of her choice. As her former classmate, Jane has asked you to help advise her on...
-
Assesses the article by providing justification for regarding it as peer reviewed
-
what are the lessons from the leader who had no title by robin sharma book ?
-
We all have been part of test marketing? Look at your past buying behaviour and provide an example .
-
How do the crests of a standing wave compare to that of the original wave? options: a. The crests are equal to that of the standing wave. b. The standing wave is constantly zero at the antinodes. c....
-
How do the interrelated developmental domains inform a holistic approach to teaching and learning?
-
Under the 1-sun condition, a 0.005m PV cell has short circuit current Isc = 6A and reverse saturation current lo = 5 X 10-10 A. Equivalent circuit of the PV cell includes a parallel resistance (Rp)...
-
Suppose that you share a ride to a client with another audit staff member. Your colleague proposes that you both submit mileage reimbursement requests for each day of the audit even though you share...
-
Distinguish between the work performed by public accountants and the work performed by accountants in commerce and industry and in not-for-profit organisations.
-
Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 21,732 miles during 2012, of which 95 percent was business mileage. The actual cost of...
-
Frank Willingham has the following transactions during the year: Sale of office equipment on March 15 that cost $20,000 when purchased on July 1, 2010. Frank has claimed $5,000 in depreciation and...
-
Ken paid the following amounts for interest during 2012: Qualified interest on home mortgage...........................................$4,700 Auto loan...
-
A euro-area country that runs very large public deficits or shows a persistently high and rising debt-to-GDP ratio violates the provisions of a 2012 treaty aimed at promoting fiscal stability....
-
The functions of a modern central bank are to: a. Adjust interest rates and other tools to control the quantity of money and credit in the economy. b. Operate a payments system. c. Lend to sound...
-
The objective of a central bank is to reduce systematic risk in the economic and financial system. Specific objectives include: a. Low and stable inflation. b. High and stable growth and employment....
Study smarter with the SolutionInn App