{"id":95493,"date":"2022-09-16T08:41:24","date_gmt":"2022-09-16T08:41:24","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/calculations-accounting-homework-help\/"},"modified":"2022-09-16T08:41:24","modified_gmt":"2022-09-16T08:41:24","slug":"calculations-accounting-homework-help","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/calculations-accounting-homework-help\/","title":{"rendered":"Calculations | Accounting homework help"},"content":{"rendered":"
\n

Problem 3-14 Days’ Sales in Receivables<\/p>\n

A company has net income of $188,000, a profit margin of 7.1 percent, and an accounts receivable balance of $127,370. Assuming 70 percent of sales are on credit, what is the company\u2019s days\u2019 sales in receivables? (Use 365 days a year. Do not round intermediate calculation and round your final answer to 2 decimal places. (e.g., 32.16))<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0 Days’ sales in receivables days \u00a0<\/p>\n

\u00a0<\/p>\n

check my workreferences<\/p>\n

WorksheetProblem 3-14 Days’ Sales in Receivables<\/p>\n

\u00a0<\/p>\n

Problem 3-15 Ratios and Fixed Assets<\/p>\n

The Le Bleu Company has a ratio of long-term debt to long-term debt plus equity of .31 and a current ratio of 1.70. Current liabilities are $870, sales are $6,290, profit margin is 8.7 percent, and ROE is 19.2 percent. What is the amount of the firm\u2019s net fixed assets? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0 Net fixed assets$ \u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

check my workreferences<\/p>\n

WorksheetProblem 3-15 Ratios and Fixed Assets<\/p>\n

\u00a0<\/p>\n

Problem 3-21 Calculating EFN<\/p>\n

The most recent financial statements for Moose Tours, Inc., appear below. Sales for 2012 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales.<\/p>\n

\u00a0<\/p>\n

MOOSE TOURS, INC.<\/p>\n

2011 Income Statement<\/p>\n

\u00a0 Sales$747,000\u00a0<\/p>\n

\u00a0 Costs582,000\u00a0<\/p>\n

\u00a0 Other expenses18,000\u00a0<\/p>\n

\u00a0________________________________________________________________________________\u00a0<\/p>\n

\u00a0 Earnings before interest and taxes$147,000\u00a0<\/p>\n

\u00a0 Interest expense15,000\u00a0<\/p>\n

\u00a0________________________________________________________________________________\u00a0<\/p>\n

\u00a0 Taxable income$132,000\u00a0<\/p>\n

\u00a0 Taxes 30%39,600\u00a0<\/p>\n

\u00a0________________________________________________________________________________\u00a0<\/p>\n

\u00a0 Net income$92,400\u00a0<\/p>\n

\u00a0 \u00a0________________________________________________________________________________________________________________________________________________________________\u00a0<\/p>\n

\u00a0 \u00a0 Dividends$18,480\u00a0<\/p>\n

\u00a0 \u00a0 Addition to retained earnings73,920\u00a0<\/p>\n

________________________________________<\/p>\n

\u00a0<\/p>\n

MOOSE TOURS, INC.<\/p>\n

Balance Sheet as of December 31, 2011<\/p>\n

AssetsLiabilities and Owners\u2019 Equity\u00a0<\/p>\n

\u00a0 Current assets \u00a0Current liabilities\u00a0<\/p>\n

\u00a0 \u00a0 Cash$20,640 \u00a0 \u00a0Accounts payable$54,800\u00a0<\/p>\n

\u00a0 \u00a0 Accounts receivable32,960 \u00a0 \u00a0Notes payable14,000\u00a0<\/p>\n

\u00a0 \u00a0 Inventory69,920________________________________________________________________________________\u00a0<\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0Total$68,800\u00a0<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________\u00a0<\/p>\n

\u00a0 \u00a0 \u00a0 Total$123,520 \u00a0Long-term debt$130,000\u00a0<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________\u00a0<\/p>\n

\u00a0 Fixed assets \u00a0Owners\u2019 equity\u00a0<\/p>\n

\u00a0 \u00a0 Net plant and equipment$410,000 \u00a0 \u00a0Common stock and paid-in surplus$116,000\u00a0<\/p>\n

\u00a0________________________________________________________________________________ \u00a0 \u00a0Retained earnings218,720\u00a0<\/p>\n

\u00a0________________________________________________________________________________\u00a0<\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0Total$334,720\u00a0<\/p>\n

\u00a0________________________________________________________________________________\u00a0<\/p>\n

\u00a0 Total assets$533,520 \u00a0Total liabilities and owners\u2019 equity$533,520\u00a0<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________\u00a0<\/p>\n

________________________________________<\/p>\n

\u00a0<\/p>\n

If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 20 percent growth rate in sales? (Do not round intermediate calculations and round your final answer to the nearest whole dollar amount. (e.g., 32))<\/p>\n

\u00a0<\/p>\n

\u00a0 External financing needed$ \u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

check my workreferences<\/p>\n

\u00a0<\/p>\n

Problem 2-22 Financial Statements<\/p>\n

Use the following information for Ingersoll, Inc., (assume the tax rate is 34 percent):<\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/p>\n

\u00a020112012<\/p>\n

\u00a0 Sales $8,135 \u00a0 $8,709 \u00a0<\/p>\n

\u00a0 Depreciation1,155 \u00a01,156 \u00a0<\/p>\n

\u00a0 Cost of goods sold2,726 \u00a03,090 \u00a0<\/p>\n

\u00a0 Other expenses669 \u00a0564 \u00a0<\/p>\n

\u00a0 Interest555 \u00a0633 \u00a0<\/p>\n

\u00a0 Cash4,139 \u00a05,233 \u00a0<\/p>\n

\u00a0 Accounts receivable5,469 \u00a06,157 \u00a0<\/p>\n

\u00a0 Short-term notes payable824 \u00a0776 \u00a0<\/p>\n

\u00a0 Long-term debt13,790 \u00a016,350 \u00a0<\/p>\n

\u00a0 Net fixed assets34,755 \u00a035,637 \u00a0<\/p>\n

\u00a0 Accounts payable4,376 \u00a04,215 \u00a0<\/p>\n

\u00a0 Inventory9,700 \u00a09,968 \u00a0<\/p>\n

\u00a0 Dividends986 \u00a01,081 \u00a0<\/p>\n

________________________________________<\/p>\n

\u00a0 \u00a0<\/p>\n

Prepare an income statement for this company for 2011 and 2012. (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))<\/p>\n

\u00a0 \u00a0 \u00a0\u00a0<\/p>\n

Ingersoll, Inc.,<\/p>\n

Income Statement<\/p>\n

\u00a0 20112012<\/p>\n

\u00a0 $ \u00a0<\/p>\n

\u00a0$ \u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0 \u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0 \u00a0 \u00a0\u00a0<\/p>\n

\u00a0 \u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0 \u00a0\u00a0<\/p>\n

\u00a0 \u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0________________________________________________________________________________<\/p>\n

\u00a0 $ \u00a0<\/p>\n

\u00a0$ \u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0 \u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0________________________________________________________________________________<\/p>\n

\u00a0 $ \u00a0<\/p>\n

\u00a0$ \u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0 \u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0________________________________________________________________________________<\/p>\n

\u00a0 $ \u00a0<\/p>\n

\u00a0$ \u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________<\/p>\n

\u00a0 $ \u00a0<\/p>\n

\u00a0$ \u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0 \u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

________________________________________<\/p>\n

\u00a0 \u00a0 \u00a0<\/p>\n

Prepare a balance sheet of this company for 2011 and 2012. (Do not round intermediate calculations.Be sure to list the accounts in order of their liquidity.)<\/p>\n

\u00a0\u00a0<\/p>\n

Prepare a balance sheet of this company for 2011 and 2012. (Be sure to list the accounts in order of their liquidity.)<\/p>\n

\u00a0\u00a0<\/p>\n

Ingersoll, Inc.<\/p>\n

Balance Sheet as of Dec. 31<\/p>\n

\u00a020112012<\/p>\n

Assets<\/p>\n

\u00a0 $ \u00a0<\/p>\n

\u00a0$ \u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0________________________________________________________________________________<\/p>\n

\u00a0 Current assets$ \u00a0<\/p>\n

\u00a0$ \u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0________________________________________________________________________________<\/p>\n

\u00a0 Total assets$ \u00a0<\/p>\n

\u00a0$ \u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________<\/p>\n

Liabilities<\/p>\n

\u00a0 $ \u00a0<\/p>\n

\u00a0$ \u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0________________________________________________________________________________<\/p>\n

\u00a0 Current liabilities$ \u00a0<\/p>\n

\u00a0$ \u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0________________________________________________________________________________<\/p>\n

\u00a0 Total liabilities & owners’ equity$ \u00a0<\/p>\n

\u00a0$ \u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________<\/p>\n

________________________________________<\/p>\n

check my workreferences<\/p>\n

\u00a0<\/p>\n

Problem 3-18 Common-Size and Common-Base Year Financial Statements<\/p>\n

In addition to common-size financial statements, common\u2013base year financial statements are often used. Common\u2013base year financial statements are constructed by dividing the current year account value by the base year account value. Thus, the result shows the growth rate in the account.<\/p>\n

\u00a0\u00a0<\/p>\n

Prepare the common-size balance sheet and common\u2013base year balance sheet for the company. Use 2011 as the base year. (Do not round intermediate calculations. Round your common size answers to 2 decimal places. (e.g., 32.16) and common base year answers to 4 decimal places. (e.g., 32.1616))<\/p>\n

\u00a0 \u00a0<\/p>\n

\u00a0JARROW CORPORATION<\/p>\n

\u00a02011Common size2012Common sizeCommon base year\u00a0<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________<\/p>\n

Assets\u00a0<\/p>\n

\u00a0 Current assets\u00a0<\/p>\n

\u00a0 \u00a0 Cash$8,814\u00a0<\/p>\n

%$10,754\u00a0<\/p>\n

%\u00a0<\/p>\n

%<\/p>\n

\u00a0 \u00a0 Accounts receivable22,053\u00a0<\/p>\n

%24,537\u00a0<\/p>\n

%\u00a0<\/p>\n

%<\/p>\n

\u00a0 \u00a0 Inventory38,422\u00a0<\/p>\n

%43,397\u00a0<\/p>\n

%\u00a0<\/p>\n

%<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________<\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0 Total$69,289\u00a0<\/p>\n

%$78,688\u00a0<\/p>\n

%\u00a0<\/p>\n

%<\/p>\n

\u00a0 Fixed assets\u00a0<\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0 Net plant and equipment$216,970\u00a0<\/p>\n

%$244,940\u00a0<\/p>\n

%\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________<\/p>\n

\u00a0 Total assets$286,259\u00a0<\/p>\n

%$323,628\u00a0<\/p>\n

%\u00a0<\/p>\n

%<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________<\/p>\n

\u00a0 Liabilities and Owners\u2019 Equity\u00a0<\/p>\n

\u00a0 Current liabilities\u00a0<\/p>\n

\u00a0 \u00a0 Accounts payable$42,498\u00a0<\/p>\n

%$47,484\u00a0<\/p>\n

%\u00a0<\/p>\n

%<\/p>\n

\u00a0 \u00a0 Notes payable19,064\u00a0<\/p>\n

%18,635\u00a0<\/p>\n

%\u00a0<\/p>\n

%<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________<\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0 Total$61,562\u00a0<\/p>\n

%$66,119\u00a0<\/p>\n

%\u00a0<\/p>\n

%<\/p>\n

\u00a0 Long-term debt$25,600\u00a0<\/p>\n

%$32,600\u00a0<\/p>\n

%\u00a0<\/p>\n

%<\/p>\n

\u00a0 Owners’ equity \u00a0<\/p>\n

\u00a0 \u00a0 Common stock and paid-in surplus$39,600\u00a0<\/p>\n

%$40,800\u00a0<\/p>\n

%\u00a0<\/p>\n

%<\/p>\n

\u00a0 \u00a0 Retained earnings159,497\u00a0<\/p>\n

%184,109\u00a0<\/p>\n

%\u00a0<\/p>\n

%<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________<\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0 Total$199,097\u00a0<\/p>\n

%$224,909\u00a0<\/p>\n

%\u00a0<\/p>\n

%<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________<\/p>\n

\u00a0 Total liabilities and owners’ equity$286,259\u00a0<\/p>\n

%$323,628\u00a0<\/p>\n

%\u00a0<\/p>\n

%<\/p>\n

\u00a0________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________<\/p>\n

________________________________________<\/p>\n

check my workreferences<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Problem 3-14 Days’ Sales in Receivables A company has net income of $188,000, a profit margin of 7.1 percent, and an accounts receivable balance of $127,370. Assuming 70 percent of sales are on credit, what is the company\u2019s days\u2019 sales in receivables? (Use 365 days a year. Do not round intermediate calculation and round your […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-95493","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/95493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=95493"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/95493\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=95493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=95493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=95493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}