The comparative statements of Beulah Company are presented below. Additional data: The common stock recently sold at
Question:
The comparative statements of Beulah Company are presented below.
Additional data:
The common stock recently sold at $19.50 per share.
Instructions
Compute the following ratios for 2014.
(a) Current.
(b) Acid-test.
(c) Receivables turnover.
(d) Inventory turnover.
(e) Profit margin.
(f) Asset turnover.
(g) Return on assets.
(h) Return on common stockholders equity.
(i) Earnings per share.
(j) Price-earnings.
(k) Payout.
(l) Debt to total assets.
(m) Times interest earned.
Transcribed Image Text:
Beulah Company Income Statement For the Years Ended December 31 2014 2013 Net sales (all on account) $500,000 $420,000 Cost of goods sold Selling and administrative Interest expense Income tax expense 254,000 114,800 6,500 15,000 390,300 36,700 29,700 315,000 120,800 7,500 20.000 Total expenses 463,300 Net income Beulah Company Balance Sheets December 31 Assets 2014 2013 Current assets 21,000 18,000 15,000 75,000 60,000 168,000 383,000 $627,000 $551,000 Cash Short-term investments Accounts receivable (net) Inventory 18,000 85,000 80,000 204,000 423,000 Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equit Current liabilities Accounts payable Income taxes payable $122,000 $110,000 11,000 121,000 12,000 134,000 Total current liabilities Long-term liabilities Bonds payable 120,000 254,000 80,000 201,000 Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings 150,000 200,000 350,000 $627,000$551,000 150,000 223,000 373,000 Total stockholders equity Total liabilities and stockholders' equity
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 44% (9 reviews)
a Current ratio 151 b Acidtest ratio 0931 c Receivables turnover 63 times d Inventory turnover 45 ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Managerial Accounting Tools for business decision making
ISBN: 978-1118096895
6th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Managerial Accounting questions
-
The comparative statements of Beulah Company are presented below. Beulah Company Income Statement For the Years Ended December 31 Beulah Company Statements of Financial Position December 31...
-
The comparative statements of Dillon Company are presented below and on the shown below. Additional data: The ordinary shares recently sold at 19.50 per share. The year-end balance in the allowance...
-
The comparative statements of Corbin Company are presented below and on page 884. Additional data: The common stock recently sold at $19.50 per share. Instructions Compute the following ratios for...
-
What is the difference between a Type I error and a Type II error?
-
Ostrich Company makes gasoline storage tanks. Everything produced is under contract (that is, the company does not produce until it gets a contract for a product). Ostrich makes three basic models....
-
Should the Scope of Accounting Standards Be Narrowed Further? Team 1: Pretend you are management. Argue against the narrowing of accounting choices. Team 2: Pretend you are a prospective investor....
-
A closed vessel of \(0.15 \mathrm{~m}^{3}\) capacity contains a mixture of methane \(\left(\mathrm{CH}_{4} ight)\) and air, the air being \(20 \%\) in excess of that required for chemically correct...
-
Simple Interest versus Compound Interest First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City Bank pays 6 percent interest compounded annually, if you...
-
Please discus in depth why Standard Edition Maria DB is better than Standard Edition MySQL and Standard Edition MS SQL regarding Economic aspects (cost) , Operational aspects (how its operated)...
-
A conducting bar is connected via flexible leads to a pair of rails in a magnetic field B = 6 cos 10t ax mWb/m2 as in figure. If the z-axis is the equilibrium position of the bar and its velocity is...
-
Selected financial data of Target and Wal-Mart Stores, Inc. for a recent year are presented here (in millions). Instructions (a) For each company, compute the following ratios. (1) Current. (2)...
-
Presented below is an incomplete income statement and an incomplete comparative balance sheet of Bondi Corporation. Additional information: 1. The receivables turnover for 2014 is 10 times. 2. All...
-
The average monthly Social Security benefit in 2004 for retired workers was $954.90 and for disabled workers was $894.10. Researchers used data from the Social Security records to test the claim that...
-
Explore the options, success factors and barriers to delivering artificial intelligence and Big Data applications for marketing.
-
Explain how digital channels have altered how companies can differentiate their brands online.
-
Why is the external financing requirement so important to the planning process?
-
What are the options for using artificial intelligence to improve marketing communications?
-
What are the basic financial control tools and how do they work?
-
NiO adopts the cubic NaCl-type structure while PtO adopts the cooperite structure shown below. (a) What factor do you think is responsible for the differing crystal chemistry preferences of these two...
-
What is a content filter? Where is it placed in the network to gain the best result for the organization?
-
Consider the application of the PSSH to epidemiology. We shall treat each of the following steps as elementary, in that the rate will be proportional to the number of people in a particular state of...
-
Edna Company purchased 70% of the outstanding common stock of Damen Corporation. Instructions (a) Explain the relationship between Edna Company and Damen Corporation. (b) How should Edna account for...
-
If your school has a subscription to the FASB Codification, go to aaahq.org/ascLogin.cfm to log in and prepare responses to the following. (a) What is the definition of a trading security? (b) What...
-
Why is it advantageous to use a worksheet when preparing a statement of cash flows? Is a worksheet required to prepare a statement of cash flows?
-
How do the following relate to Information security auditing and what do they mean in that context 1. Standards 2. Polices 3. Procedures 4. Guidelines 5. Framework 6. Internal controls 7. Processes...
-
Suppose user on host with IP address 192.168.1.2/29 wants to send a packet to the user on host with IP address 10.0.0.2/29. Consider the gateway router connected to both private networks makes use of...
-
6) Your company has 60 employees, 23 of whom are left-handed. At promotion time, out of 10 promoted employees, only one was left- handed. A civil rights attorney claims that you are biased against...
Study smarter with the SolutionInn App