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- An analyst has compiled the following information relating to a company for the year ended 31 December 2021: Rands Liabilities at year-end Contributed capital at year-end Retained income at beginning of the year Revenue during the year Expenses during the year Income tax 298 000 500 000 344 000 2 000 000 1 460 000 Charged at 28% Required: 1.1 Calculate the accounting value of the assets at year-end, based on the information provided above. 1.2 Calculate the return on equity (ROE) (to one decimal place) for the period and compare it to the industry average of 28%, in your answer provide two possible reasons why the amounts may differ.The following are extracts from an income statement of Al Noor Company for the year ended 31 December 2020: Sales revenue RO 10,000; Cost of sales RO 8,500; Salaries expense RO 300; Advertising expense RO 200; Depreciation expense RO 100; Insurance expense RO 150; Unrealized gain on investment securities RO 1,000. The comprehensive income is: a. RO (250) b. RO 750 c. RO 1,000 d. RO 1,750Prepare the income statements and balance sheets for years 2018 and 2019 for Thompson Company using the following information. The balance sheet numbers are at the end of year figures.Item20182019Accounts Payable120.0150.0Accounts Receivable150.0180.0Accumulated Depreciation330.0360.0Cash & Cash Equivalents10.012.0Common Stock150.0200.0Cost of Goods Sold750.0850.0Depreciation25.030.0Interest Expense30.033.0Inventory200.0180.0Long-term Debt150.0150.0Gross Plant & Equipment650.0780.0Retained Earnings208.5225.0Sales1,500.01,700.0SG&A Expenses500.0570.0Notes Payable51.567.0Tax Rate21%21%(2) Answer the following questions:(a) How much did Thompson Company spend in acquiring fixed assets in 2019?(b) How much dividend did Thompson Company pay out during 2019?(c) Using the end of year numbers, did the long-term solvency ratios improve or deteriorate from 2018 to 2019? Answer this question using at least two long-term solvency ratios.(d) Using the end of year numbers, did the asset…
- The following are the summarised financial information of Ting Ltd for the two financial years ended 31 October 2020 are as follows:2019 2020£ million £ millionEquity 2,460.8 1,732.8 Non-current liabilities (Loans) 640.0 800.0 Current liabilities 654.4 1,020.5 Non-current assets 2,804.8 2,367.2 Current assets 950.4 962.4 Revenue 1,601.6 1,509.6 Total expenses 1,444.0 1,492.8 Required:(a) Calculate the following financial ratios for the two years: 2019 and 2020:(i) Current ratio (ii) Capital gearing ratio (iii) Profit margin (b) Comment briefly on the ratios of the company, computed in part (a) over the two year period from 2019 to 2020. (c) Provide any two (2) recommendations on how the company may improve these ratios in the futur.Imagine you are the financial accountant of Happiness Ltd. You have the following final balances for the different accounts on 31st December 2021 (the accounting-year end): Value (£) Buildings 300,000 Transportation element 148,000 Accumulated depreciation (buildings) at 01/01/2021 52,500 Accumulated depreciation (transportation element) at 01/01/2021 36,800 Salary expense 16,500 Share premium 7,200 Capital 20,000 Retained earnings at 31/12/2020 97,900 Long term debt 190,300 Cash 60,000 Trade receivables 62,500 Inventory at 31/12/2020 40,000 Purchases 10,000 Sales 200,000 Allowance for trade receivables 2,500 Accrued Expenses 19,500 Trade payables 10,300 Required: a)Prepare the Trial Balance corresponding to the above information. b)Considering the following additional information, prepare the Income Statement for Happiness Ltd. on 31/12/2021. Additional…Current Attempt in Progress Suppose selected comparative statement data for the giant bookseller Barnes & Noble are as follows. All balance sheet data are as of the end of the fiscal year (in millions). Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2022 $5,050.3 3,700.7 65.1 65.0 1,250.1 2,950.1 940.6 2021 $5,800.9 3,200.1 190.9 106.6 1,350.1 3,250.1 1,100.5
- Hello! look at the attached images and answee the following points: (a) Calculate ratios for the year ended 31 December 2021 (showing your workings) for Primrose Plc, equivalent to those provided above. Return on year-end capital employed Net asset turnover Gross profit margin Net profit margin Current ratio Closing inventory holding period Trade receivables’ collection period viii. Trade payables’ payment period Dividend yield Dividend cover (b) Analyse the financial performance and position of Primrose Plc for the year ended 31 December 2021 compared to 31 December 2020. (c) Explain the uses and the general limitations of ratio analysis. Thank you a lot!Following is the trial balance of Standard Ltd as on 31st March 2020: Debit Credit Stock on 31st March 2019 75000 Sales 350000 Purchases 245000 Wages Discount 50000 5000 Furniture and fittings 17000 Salaries 7500 Rent 4950 Sundry expenses Profit and loss appropriation Account on 31st March 2020 Dividend paid Share capital 7050 15030 9000 100000 Debtors and creditors 37500 17500 Plant and machinery Cash and bank 29000 16200 Reserve 15500 Patent and trade mark 4830 503030 503030Show your workings for the question below; The summarised financial statements of LL Limited are as follows:” Profit & Loss Account/Income Statement for the year ended 31 December 2020 £000 Operating profit 80 Investment income 5 Interest payable (7) Profit before taxation 78 Taxation (14) Profit after taxation 64 Dividends payable (20) Retained profit 44 Balance Sheets 2020 2020 2019 2019 £000 £000 £000 £000 Fixed/Non-current assets Cost 370 290 Depreciation (70) (50) 300 240 Current assets Stock/inventory 95 70 Trade debtors/receivables 75 56 Short-term deposits 35 26 Bank 44 249 152 Current liabilities Trade creditors/payables 40 45 Interest payable 18 23 Taxation payable 10 12 Dividends payable 15 22 Bank…
- The following information was available for the year ended December 31, 2019: Earnings before interest and taxes (operating income) Interest expense Income tax expense $105,000 25,000 30,000 50,000 350,000 Net income Total assets at year-end Total liabilities at year-end 180,000 Required: a. Calculate the debt ratio at December 31, 2019. (Round your answer to 1 decimal place.) b. Calculate the debt/equity ratio at December 31, 2019. (Round your answer to 2 decimal places.) c. Calculate the times interest earned for the year ended December 31, 2019. (Round your answer to 2 decimal places.) a. Debt ratio b. Debt/Equity ratio c. Times interest earned % times timesEpsilon Golf Company's balance sheet at December 31, 2021 is as follows: (Click the icon to view the balance sheet.) Requirement 1. Perform a vertical analysis of Epsilon Golf Company's balance sheet to determine the component percentages of its assets, liabilities, and stockholders' equity. (Round the percentages to the nearest hundredth percent, X.XX%. Do not enter the % symbol in any of the input fields.) Assets Total current assets Property, plant, and equipment, net Other assets Total assets Liabilities Total current liabilities December 31, 2021 Long-term debt Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity $ $ $ $ Amount 42,465 203,775 38,760 285,000 46,455 107,730 154,185 130,815 285,000 % of total % % % % % % % % %Given the following account balances of MASK RIDER Co. for the year ended December 31, 2020, prepare a Statement of Financial Position using the report form. Mask Rider, capital Beg. Balance PO Contribution 30, d00 DUE ON MAY 15, 2021 Withdrawal 15, 000 Additional cortribution 5, 000 Net Income Ending Balance 57, 450 Property, Plant and Equipment P 300, 000 Accumulated Depreciation 5, 000 Accounts payable B, 110 Uneamed income 1, 395 Cash 44, 535 Prepaid rent 5, 000 Salaries payable 1, 000 Lang-term note payable 23. 000 Accounts receivable 575 Merchandise Inventory 15,345 Utilities payable 4. 00
