Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following data is given: december 31,.

The following data is given: December 31,...

70.2K

Verified Solution

Question

Accounting

The following data is given:

December 31,
2021 2020
Cash $54,500 $50,500
Accounts receivable (net) 97,500 58,500
Inventories 91,500 117,000
Plant assets (net) 381,500 321,000
Accounts payable 55,000 42,000
Salaries and wages payable 11,500 5,500
Bonds payable 69,500 70,000
8% Preferred stock, $40 par 100,000 100,000
Common stock, $10 par 120,000 90,000
Paid-in capital in excess of par 80,000 70,000
Retained earnings 189,000 169,500
Net credit sales 965,000
Cost of goods sold 720,000
Net income 82,000

image

Compute the following ratios: (Round answers to 2 decimal places e.g. 15.25.) (a) Acid-test ratio at 12/31/21 :1 1 (b) Accounts receivable turnover in 2021 times (c) Inventory turnover in 2021 times (d) Profit margin on sales in 2021 % (e) Return on common stockholders' equity in 2021 % (f) Book value per share of common stock at 12/31/21 $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Dole Pineapple Inc. is concerned that the 16-ounce can of sliced pineapple is being overfilled. Assume...

Basic Math
Q

33 A current of 2 A flows through a 2 2 resistor wher connected across...

Physics
Q

3 Type the correct answer in each box Use numerals instead of words A company...

Basic Math
Q

1 Points DETAILS SCALCET9 7 1 008 Evaluate the integral Use C for the constant...

Calculus
Q

Solve the equation in y 14x 74 0

Calculus
Q

Use the limit definition of the derivative to find the instantaneous rate of change of...

Calculus
Q

Question Using the quadratic regression f x 12x 25x 764 estimate the value using quadratic...

Algebra
Q

An analyst uses Excel to perform a regression on historic data. The resulting regression equation...

Accounting
Q

The Cycle Division of Whispering Winds Company has the following unit data related to its...

Accounting
Q

please help. thank you The Sky Blue Corporation has the following adjusted...

Accounting
Q

An investment fund advertises that it will guarantee to triple your money (suppose you are...

Finance
Q

Assume a company is preparing a budget for its first two months of operations. During...

Accounting