Below is the complete list of accounts of Cobras Incorporated and the related balance at the end of March. All accounts have their normal debit or credit balance. Supplies, $1,100; Buildings, $53,000; Salaries Payable, $300; Common Stock, $33,000; Accounts Payable, $2,100; Utilities Expense, $3,500; Prepaid Insurance, $1,100; Service Revenue, $19,300; Accounts Receivable, $4,000; Cash, $3,300; Salaries Expense, $6,200; Retained Earnings, $17,500. Required: Prepare a trial balance with the list of accounts in the following order: assets, liabilities, stockholders' equity, revenues, and expenses.

Answers

Answer 1

Answer:

                         Cobras Incorporated

                             Trial Balance

                  For the Month Ended March 31

Account                            Debit           Credit

Cash                                  $3,300

Account Receivable         $4,000

Supplies                            $1,100

Prepaid Insurance            $1,100

Buildings                           $53,000

Account Payable                                   $2,100

Salaries Payable                                    $300

Common stock                                      $33,000

Retained earnings                                 $17,500

Service Earnings                                    $19,300

Salaries Expenses           $6,200

Utilities Expenses            $3,500                        

Total                                 $72,200        $72,200


Related Questions

On January 1 of the current year, Jimmy's Sandwich Company reported total stockholders’ equity of $125,000. During the current year, total revenues were $100,000 while total expenses were $89,500. Also, during the current year the company paid $24,000 in dividends. No other changes in equity occurred during the year. The change in total equity during the year was:

Answers

Answer: ($13,000)

Explanation:

Closing balance of Equity = Opening Balance + Retained earnings

Retained earnings = Net Income - dividends

Formula above shows that equity changes as a result of Retained earnings which is the net of Net Income and Dividends.

Change in equity will be = Net Income - Dividends

= (100,000 - 89,500) - 24,000

= -$13,500

Equity reduces by $13,500

Green Corporation reported pretax book income of $1,012,000. During the current year, the net reserve for warranties increased by $50,600. In addition, tax depreciation exceeded book depreciation by $103,000. Finally, Green subtracted a dividends received deduction of $25,300 in computing its current year taxable income. Green's cash tax rate is:

Answers

Answer:

19.38%

Explanation:

Green corporation reported pretax book income as $1,012,000

The net reserve warranties increased by $50,600

Tax depreciation exceeded book depreciation by $103,000

The dividend received a deduction of $25,300

Cash tax rate= taxes payable/pre tax book income

The first step is to calculate the taxes payable

= $1,012,000 + $50,600 - $103,000 - $25,300 × 21%

= $934,300× 0.21

= $196,203

Therefore the cash tax rate can be calculated as follows

Cash tax rate= $196,203/$1,012,000

= 0.1938

= 19.38%

Hence Green's cash tax rate is 19.38%

How does a company's use of social media reflect audience-centered communication?

Answers

Answer:

There is an explanation of why the social media is so important today in the terms of communication regarding the marketing strategy in the companies below.

Explanation:

To begin with, nowadays the with the use of internet and more importantly the social media the companies have to adapt their strategy of communication according to the marketing theory in order to reach to the target audience who are the ones that will provide them with all of their primary profits when they sell. So that is why that social media has become one of the base aspects in which the company has to develop itself and try to to get better at it so that they could approach the consumers with that media of communication that is truly quite effective with the young consumers in the present time. Therefore that the social media reflects the most of the proper communication with the younger consumers nowadays, because it is a fundamental use of every day life for them.

Social media is important to industries to communicate wide to their target audience through advertisement.

Social media is an online platform that facilitates the exchange of information in terms of creation and sharing.

Social media is important to industries to communicate wide to their target audience through advertisement.

This advertisement serves as a form of marketing strategy for companies to engrave their product in the heart of the consumers.

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In October 2014, Anheuser Busch InBev (AB InBev) acquired 100 percent of the common stock of SABMiller Group by paying $103,136 million in total consideration. On the acquisition date, the total fair value assigned to tangible and intangible assets acquired (excluding goodwill) was $61,896 million, while the total fair value assigned to liabilities assumed was $31,165 million. What is the value of goodwill recognized in AB InBev's consolidated financial statements as a result of the SABMiller Group acquisition?

Answers

Answer:

the value of goodwill recognized in AB InBev's consolidated financial statements is $70,405.

Explanation:

Goodwill is the excess of the Purchase consideration over the Fair Value of the Net assets taken over.

Calculation of Goodwill

Purchase Consideration                                                         $103,136

Less Fair Value of Net Assets taken over :

Fair Value of Assets                                             $61,896

Fair Value of Liabilities                                         ($31,165)    ($30,731)

Goodwill                                                                                   $70,405



As a part of internal accounting controls, the activity called

involves detecting and avoiding errors

Answers

Answer:

As a part of internal accounting controls, the activity called  RECONCILIATION involves detecting and avoiding errors.

Explanation:

Reconciliation involves detecting and avoiding errors since it helps management to discover or detect any mistakes and errors, and can also help to understand why these errors occurred and how to prevent future mistakes.

Reconciliation is basically comparing two different accounting records and making sure that they match, e.g. reconciliation of bank account and cash balance. If you cannot reconcile the company's bank account with its cash balance, it means something is wrong. Is the mistake intentional? Why did it occur? How can you prevent it from happening again? Can it be solved?

Answer:

The answer you are looking for is risk assessment

Which fund classification would a focus on only stocks of technology companies match?
a. Growth fund
b. Sector fund
c. Balanced fund
d. International fund

Answers

Answer:a

Explanation:

Loeffler Company owns 35% of the common stock of Tetter Co. and uses the equity method to account for the investment. During 2021, Tetter reported income of $260,000 and paid dividends of $90,000. There is no amortization associated with the investment. During 2021, how much income should Loeffler recognize related to this investment

Answers

Answer:

Investment revenue = $91,000

Explanation:

the journal entry to record the dividends received would be:

Dr Cash 31,500

    Cr Investment in Tetter Co. 31,500

the journal entry to record the reporting of the net income:

Dr Investment in Tetter Co. 91,000

    Cr Investment revenue 91,000

When a company uses the equity method, any dividends received will decrease the carrying value of the investment, while any net income reported will be considered investment revenue.

James is a curriculum planner in a school in a small town. Analyzing the past scores of his students, he realizes that students score well in the theory papers, but do poorly when they have to apply their knowledge practically. What can james do to Improve student grades in practical
application?

Answers

Answer:

James should introduce courses that will help students strengthen their practical knowledge. He can tie up with local businesses so that students can spend a few weeks working as apprentices. Students will have exposure to all kinds of practical work, and businesses will get interns who are enthusiastic about working and learning. If the students perofrm well, they also have the possibility of getting a job at these places after graduating.

Explanation:

(This is the actual sample answer so i would reccomend putting it in your own words to avoid plagerism) :)

James needs to start offering classes that will improve pupils' practical knowledge. He can do collaboration with the nearby companies to arrange for kids to serve as apprentices for a few weeks.

What does "collaboration" mean?

The easiest approach to describe collaboration is to say that it is the process of two or more individuals or groups coming together to carry out a task or realize a goal. It can also be described as a group of people cooperating to achieve common objectives.

It is simple to become perplexed while discussing the various forms of organizational collaboration that make up the phenomenon. Your firm may, however, more clearly outline the quickest route to a digital transformation if you have a fundamental awareness of the various types of collaboration. The existence of a set of digital tools and an agile corporate culture that promotes good teamwork are the cornerstones of efficient collaboration. You are already prepared to start redefining the sorts of collaboration within your business if you have both of these elements in place.

When teams work well together, firms that want to flourish in a changing environment gain a lot of advantages. Starting out, having a strong collaborative work culture puts you ahead of the competition in terms of competitiveness. An organization that has productive employee collaboration is already well ahead of its rivals.

Who are apprentices?

A person who apprentices learns a trade. Although an apprentice farmer receives very little pay, he or she has the opportunity to learn about farming by doing.

In the past, the only way to enter many professions was to become an apprentice. These days, we tend to think of it in terms of trades like bricklayers, butchers, and bakers. The same concept applies if you perform the same task in an office setting; it is typically referred to as an internship.

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The following standard costs pertain to a component part manufactured by Bor Company: An outside supplier has offered to supply all of the parts needed by Bor Company for $50 each. The 60% of the manufacturing overhead cost that is fixed would be unaffected by this decision. In the decision to "make or buy," what is the relevant unit cost to make the part internally?

Answers

Answer:

$30

Explanation:

The computation of relevant unit cost to make the part internally is shown below:-

Relevant cost of making part = Direct material + Direct labor + Manufacturing overhead

= $4 + $10 + ($40 - (100% - $60%)

= $4 + $10 + ($40 - 40%)

= $4 + $10 + $16

= $30

So, for computing the relevant unit cost to make the part internally we simply applied the above formula.

Why we do need change management

Answers

There is some change that we cannot control. External circumstances and changes will often have a dramatic effect on our career. These changes, no matter whether they seem good or bad at the time, will teach you something new. External change makes you more flexible,more understanding and prepares you for the future.

PLEASE HELP ASAP, I NEED TO DO THIS BUT DONT KNOW HOW TO. Describe how free markets solve the problem of coordination. Why do command economies struggle with this problem?

Answers

The advantage of a free market economy is that when it works it can both be reward and perpetuate innovation But they are inherently more risky and does tend to favor those more capital and resources . In an Economic make system with multiple equilibria coordination failure occurs when a group of firms could achieve a more desirable equilibrium but fail to because they do not coordinate their decision making

On the budgeted balance sheet,the number for notes payable will come from the ________.
A) operating budget
B) schedule of cash receipts
C) cash budget
D) cost of goods sold budget

Answers

Answer:

B) schedule of cash receipts

Explanation:

Personally, I do not consider this option to be 100% correct since it is incomplete. The correct answer is: debt service budget.

When you are preparing a budgeted balance sheet, you might get some information about receiving cash by issuing notes payables, but notes payables can include other transactions besides cash loans. E.g. You might finance the purchase of equipment by issuing a promissory note. You could also refinance outstanding credits from suppliers with notes payables. And many others, and none is related to cash receipts.

What are the determinants of supply? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click the option twice to empty the box. Income unanswered Prices of other goods unanswered Technology unanswered Tastes and preferences unanswered Resource prices unanswered Number of producers

Answers

Answer:

Number of producers

Prices of other goods

Technology

Resource prices

Explanation:

Supply is the total amount of goods and services available to consumers in a market

The higher the number of producers, the higher the number of goods produced and  the higher the supply all things being equal. The reverse would be the case if the number of producers fall.

If the price of other good increases, it would be more profitable to produce the other goods. As a result, the number of producers available to  good would reduce.

Technological progress that reduces cost of production and makes production more efficient, would lead to an increase in supply.

If the price of inputs increases, it becomes more expensive to produce the good and as a result, supply would fall.

What is meant by Sandel's use of the phrase "a common currency"?
A. Sandel meant that utilitarianism only thinks of moral values in terms of monetary currency
B. Sandel meant that utilitarianism tells us that we should never eat each other, no matter how hungry we are
C. Sandel meant that utilitarianism aims to level all values to equal standing so that they can be quantified and measured
D. Sandel meant that utilitarianism relies on a theory of human nature as composed of base and higher capacities

Answers

Answer:

C. Sandel meant that utilitarianism aims to level all values to equal standing so that they can be quantified and measured

Explanation:

The common currency is the currency that are shared by the different countries

Utilitarianism refers to a theory in which the goods things are to be rise and the bad things would be decline also it shows the outcome of an action that generated right and wrong concept

Therefore it provides a measure that should be common depend upon the values

Hence, the option c is correct

You talk to Luis, the Portuguese manager of the Austrian plant. He says the workers are uncooperative and do not carry out the instructions that he conveys to them. He shows you several emails in which they complain that he is too dominating, and that they find it hard to tell what he is thinking.What is your response to this situation

Answers

Answer:

Luis would be that he needs to focus more on relating to the employees

Explanation:

In this situation, the best response to Luis would be that he needs to focus more on relating to the employees. In doing so, Luis will understand the employee's frustrations and work towards a solution by making their work experience and tasks less stressful. This in term should drastically increase work motivation and thus work efficiency in the plant. It is always best to keep employees happy so that they work their best.

The Mifflin Cable store in Buffalo is currently offering a fabulous marketing strategy for potential new cable and Internet customers. Mifflin Cable offers new customers who purchase a cable and Internet package a DVR, modem, and all other necessary equipment with a two year contract. In terms of Porter's Five Forces what is Mifflin Cable attempting to achieve with this marketing strategy

Answers

Answer:

C. Decrease buyer power

Explanation:

Since in the question it is mentioned that the Mifflin Cable store offers a great marketing strategy that the combos of all the things would be based on the two year contract

So this given situation represents the decrease in buyer power as if there is less bargaining power so the company is able to rise the profit that is actually motive of every organization

Therefore the option C is correct

Multiple Choice Question The following selected information pertains to Wilson Company. Current liabilities: $100; long-term liabilities: $150; contributed capital: $120; retained earnings: $50; accumulated other comprehensive income: $20. The company's debt to equity ratio (rounded to two digits after the decimal point) is

Answers

Answer:

The debt to equity ratio is 1.32

Explanation:

The computation of the debt to equity ratio is shown below;

Debt to equity ratio is

= Debt ÷ equity

where, Debt is long term + current liabilities

And, the equity is contributed capital + retained earnings + other incomes

= ($100 + $150) ÷ ($120 + $50 + $20)

= $250 ÷ $190

= 1.32

Hence, the debt to equity ratio is 1.32

TSW Inc. had the following data for last year. Net income = $800; Net operating profit after taxes (NOPAT) = $700; Total assets = $3,000; and Total operating capital = $2,000. Information for the just-completed year is as follows: Net income = $1,000; Net operating profit after taxes (NOPAT) = $925; Total assets = $2,600; and Total operating capital = $2,500. How much free cash flow did the firm generate during the just-completed year?
Elena Inc. has the following income statement. How much net operating profit after taxes (NOPAT) does the firm have?
Sales $2000
Cost 1200
Depreciation 100
EBIT 700
Interest expense 200
EBT 500
Taxes(35%) 175
Net income 325

Answers

Answer:

1. Free cash flow= NOPAT - Net investment in total operating capital

Free cash flow = $925 - ($2,500 - $2,000)

Free cash flow = $925 - $500

Free cash flow = $425.

2. Particulars                                                 Amount

Earnings before Interest and Tax                  $700

Less : Taxes at 35%                                        $245

Net operating income after tax (NOPAT)    $455

Therefore, The Net operating profit after Tax (NOPAT) is $455.

Which approach describes how leaders act?
a. Trait.
b. Skills.
c. Leader-member exchange.
d. Behavioral

Answers

Answer:

d. Behavioral

Explanation:

Behavioral approach defines how a leader interact with its followers. It also includes the actions of a leader towards its followers.

In behavioral approach to leadership, anyone can become a leader if they want to, but such leader trainings and observations for effective leadership. The behavioral approach centers on interpersonal relationship between a leader and its followers. There is also an aspect of behavioral approach - task behavior which focuses on workers achieving set targets at workplace while relationship behavior help workers feel safe and comfortable by their leaders in their place of work.

The concept of an "artificial being: refers to which form of business organization?
a) partnership
b) sole proprietorship
c) corporation
d) limited partnership

Answers

Answer:

Artificial Being refers to corporation form of business

Explanation:

From the list of given options, the option that answers  the question is Corporation.

This is so because when group of people (called owners) form a corporation, they form a body and this body as a whole is given the legal status which is given to the owners.

In other words, the body which actually does not exist physically can act and take decisions on behalf of the owners in taking responsibilities.

So because of the inexistence, the corporation is referred to as an artificial being.

Hence, option c answers the question.

Milo has the following year-end account balances: Accounts Receivable, $5,000; Supplies, $12,000; Equipment, $18,000; Accounts Payable, $17,000; Owner’s Equity, $43,000. The Cash account balance was not available at year-end. Given the account balances listed, the balance in the Cash account should be

Answers

Answer:

$25,000

Explanation:

Calculation for what the balance in the Cash account should be

First step is to calculate for the Total Assets excluding Cash

Total Assets excluding Cash = $5,000 + $12,000 + $18,000

Total Assets excluding Cash = $35,000

Second step is to find the Total Liabilities & shareholder's equity

Total Liabilities & shareholder's equity = $17,000 + $43,000

Total Liabilities & shareholder's equity == $60,000

Last step is to calculate for the cash balance using this formula

Cash balance = Total Liabilities and shareholder's equity - Total Assets (excluding cash)

Cash balance = $60,000 - $35,000

Cash balance = $25,000

Therefore the balance in the Cash account should be $25,000

Corporation XYZ has taxable income of $70,000 for the current year. It will owe taxes of:__________

Answers

Answer:

Assuming that we are talking about this year, or the recent past, Corporation XYZ's tax expense = $70,000 x 21% = $14,700.

Explanation:

The Tax Cuts and Jobs Act (2017) set the corporate tax rate at 21%, and that applies to all corporations. Before the TC&JA the corporate tax rate was 35%.

Marwick's Pianos Inc. purchases pianos from a large manufacturer and sells them at the retail level.The pianos cost, on average, $1,488 each from the manufacturer.Marwick's Pianos Inc. sells the pianos to its customers at an average price of $2,900 each.The selling and administrative costs that the company incurs in a typical month are presented below:Costs Cost FormulaSelling:Advertising $942 per monthSales salaries and commissions $4,799 per month, plus 3% of salesDelivery of pianos to customers $60 per piano soldUtilities $650 per monthDepreciation of sales facilities $4,945 per monthAdministrative:Executive salaries $13,566 per monthInsurance $685 per monthClerical $2,480 per month, plus $36 per piano soldDepreciation of office equipment $900 per monthDuring August, Marwick's Pianos Inc. sold and delivered 63 pianos.Required:1. Prepare an income statement for Marwick's Pianos Inc. for August. Use the traditional format, with costs organized by function.2. Prepare an income statement for Marwick's Pianos Inc. for August, this time using the contribution format, with costs organized by behavior. Show costs and revenues on both a total and a per unit basis down through contribution margin.

Answers

Answer:

1) Marwick's Pianos Inc.

Income Statement

For the month ended August 202x

Total sales revenue                                                    $182,700

Cost of goods sold                                                     ($93,744)

Gross profit                                                                   $88,956

Administrative expenses:Executive salaries ($13,566)Clerical salaries ($4,748)Depreciation office equipment ($900)Utilities ($650)                                                     ($19,864)

Sales expenses:

Sales salaries and commissions ($10,280)Delivery expense ($3,780)Advertising ($942)Depreciation of sales facilities ($4,945)            ($19,947)

Operating income                                                         $49,145

2) Marwick's Pianos Inc.

Income Statement

For the month ended August 202x

Total sales revenue                                                    $182,700

Variable costs:

Pianos ($93,744)Sales commissions ($5,481)Clerical commissions ($2,268)Delivery expense ($3,780)                              ($105,273)

Contribution margin                                                    $77,427

Period costs:

Executive salaries ($13,566)Clerical salaries ($2,480) Sales and commissions ($4,799)Advertising ($942)Depreciation expense ($5,845)Utilities expense ($650)                                   ($28,282)

Operating income                                                         $49,145

Explanation:

cost of a piano = $1,488

selling price per piano = $2,900

advertising $942 per month

sales and commissions $4,799 + 3% commissions on sales

delivery of pianos = $60 per piano

utilities expense = $650

depreciation expense = $4,945

executive salaries = $13,566

clerical salaries = $2,480 + $36 per piano

depreciation  = $900

63 pianos sold during August

cost of goods sold = $1,488 x 63 = $93,744

total sales revenue = $2,900 x 63 = $182,700

sales commissions = $5,481

clerical commissions = $2,268

Simon Company had the following summarized operations for the month of May: cash sales, $32,000; sales on account, $18,000; expenses paid in cash, $5,000; expenses incurred on credit, $10,000. In addition, the company purchased equipment for $8,000 on account and supplies for $5,000 cash. The net income for the month of May is

Answers

Answer:

$35,000

Explanation:

The computation of net income for the month of may is given below:-

Net income for the month of may = Revenues - Expenses

= ($32,000 + $18,000) - ($5,000 + $10,000)

= $50,000 - $15,000

= $35,000

Therefore for computing the net income for the month of may we simply applied the above formula.

Hence, the net income is $35,000

Taggart Goods Corp. just reported a net income of $8,000,000, and its current stock price is $17.50 per share. Taggart is forecasting an increase of 25% for its net income next year, but it also expects it will have to issue 2,400,000 new shares of stock (raising its shares outstanding from 5,500,000 shares to 7,900,000 shares). If Taggart’s forecast turns out to be correct and its price-to-earnings (P/E) ratio does not change, what does management expect its stock price to be one year from now? (Hint: If you choose to compute the firm’s price/earnings ratio, round its value to four decimal places.)

Answers

Answer:

$15.2279

Explanation:

Current P/E = Price per share * Share outstanding / Net Income

Current P/E = 17.5 * 5,500,000 / 8,000,000

Current P/E = 12.03

The Current P/E will remain the same next year

Next year P/E = Price * (New shares + Existing shares) / Next year earnings

12.03 = Price * (5,500,000 + 2,400,000) / 8,000,000 * 1.25

12.03 = Price * (7,900,000) / 10,000,000

12.03 * 10,000,000 = Price * (7,900,000)

Price = 120,300,000 / 7,900,000

Price = 15.22785

Hence, the price of shares next year will be $15.2279

The greatest importance of standing committees is that they ______.
a) permit the leadership to control the legislative process
b) give the president more power in the legislative process than he or she would have otherwise
c) control the influence of lobbyists on the legislative process
d) result in legislators who become experts in their committee's policy domain

Answers

Answer:

none of the above

Explanation:

Standing Committee is a term to describe a type of committee that is a mainstay and have a continual role, which is not specific to a particular assignment or undertaking.

Therefore, the greatest importance of standing committees is that they "increase congressional power by allowing detailed analysis and modification of legislation"

Hence, from the available options, there is none that is correct.

Types of controls used to assess the effectiveness of marketing operations ​

Answers

Analysis of a competitor and strategies

Existing customer analysis

Testing research with a focus group

Customer opinions and feedback



Your welcome if this helps

Good X is produced in a competitive market using input A. Explain what would happen to the supply of good X in each of the following situations: a. The price of input A decreases. It will not change. It will increase. It will decrease. b. An excise tax of $3 is imposed on good X. It will increase. It will not change. It will decrease. c. An ad valorem tax of 7 percent is imposed on good X. It will increase. It will decrease. It will not change. d. A technological change reduces the cost of producing additional units of good X. It will increase. It will not change. It will decrease.

Answers

Answer:

a. It will increase.

b. It will decrease

c. It will decrease

d. it will increase.

Explanation:

If the price of an input needed for production of good X decreases, the cost of production of good X reduces. It becomes cheaper to produce good X and and as a result the supply of good X would increase.

An increase in tax increases the cost of production and makes production of good X more expensive. As a result, the supply of good X would fall.

technological change that reduces the cost of producing additional units of good X, would make the production of good X less expensive. As a result, the supply of good X would increase

Negative inflationary surprises lead to a(n):____________.
A) increase in the real interest rate.
B) redistribution of wealth from borrowers to lenders.
C) decline in the nominal interest rate.
D) decline in inflation risk for lenders.
E) redistribution of wealth from lenders to borrowers.

Answers

Answer: increase in real interest rate

Explanation:

Negative inflationary surprises lead to an increase in the real interest rate. The real interest rate is simply defined as the rate of interest that a saver, investor, or a lender will receive after inflation ahs been allowed.

It should be noted that the real interest rate is the nominal interest rate minus inflation. Therefore, a negative inflationary surprises lead to a rise in the real interest rate.

Perform ratio analysis, and discuss change in financial position and operating results
Condensed balance sheet and income statement data for Jergan Corporation are presented here.
JERGAN CORPORATION
Balance Sheet
December 31
2017 2016 2015
Cash $30,000 $20,000 $18,000
Accounts receivable (net) 50,000 45,000 48,000
Other current assets 90,000 95,000 64,000
Investments 55,000 70,000 45,000
Plant and equipment (net) 500,000 370,000 358,000
$725,000 $600,000 $533,000
Current liabilities $85,000 $80,000 $70,000
Long-term debt 145,000 85,000 50,000
Common stock, $10 par 320,000 310,000 300,000
Retained Earnings 175,000 125,000 113,000
$725,000 $600,000 $533,000
JERGAN CORPORATION
Income Statement
For the Year Ended December 31
2017 2016
Sales revenue $740,000 $600,000
Less: Sales return and allowances 40,000 30,000
Net sales 700,000 570,000
Cost of goods sold 425,000 350,000
Gross profit 275,000 220,000
Operating expenses 180,000 150,000
Net income 95,000 70,000
Additional information:
1. The market price of Jergan's common stock was $7.00, $7.50, and $8.50 for 2012,
2016, and 2017, respectively.
2. You must compute dividends paid. All dividends were paid in cash.
Instructions
(a) Compute the following ratios for 2016 and 2017.
(1) Profit margin. 5. Price-earnings ratio.
(2) Gross profit rate. 6. Payout ratio.
(3) Asset turnover. 7. Debt to assets ratio.
(4) Earnings per share.

Answers

Answer:

Please see below

Explanation:

1. Profit margin = Net profit / Net sales

2016 - Profit margin

=  (70,000 / 570,000) * 100

= 12.28%

2017 - Profit margin

= (95,000 / 700,000) * 100

= 13.57

2. Gross profit rate = Gross profit / Net sales

2016 - Gross profit rate

= (220,000 / 570,000) * 100

= 38.60%

2017 - Gross profit rate

= (275,000 / 700,000) * 100

= 39.29%

3. Asset turnover = Net sales / Average total assets

2016 - Asset turnover

= (570,000 / [(600,000 + 533,000) / 2 ]

= 570,000 / 566,500

= 1.01 times

2017 - Asset turnover

= (700,000 / [(725,000 + 600,000) / 2 ]

= 700,000 / 662,500

= 1.06 times

4. Earnings per share = Net income / Outstanding shares

2016 - Earnings per share

= 70,000 / (310,000/10)

= 70,000 / 31,000

= $2.26 per share

2017 - Earnings per share

= 95,000/ (320,000/10)

= 95,000 / 32,000

= $2.97 per share.

5. Price earnings ratio = Market value per share / EPS

2016 - price earnings ratio

= 7.50 /2.26

= 3.32 times

2017 - price earnings ratio

= 8.50/2.97

= 2.86 times

6. Payout ratio = Dividend per share / Net income or earnings per share × 100

2016 - payout ratio

=

7. Debts to assets ratio = Total liabilities / Total assets

2016 - Debts to assets ratio

=

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