Total comprehensive income (final total) Net income Change in value of available-for-sale securities otal comprehensive income $ 9,600 Other comprehensive income (subtotal) 10,100 Change in foreign currency translation (2,200) se the above information of Prescrip Company to prepare a calendar year-end statement of comprehensive income. (Amounts educted should be indicated by a minus sign.) Prescrip Company Statement of Comprehensive Income For Year Ended December 31 $ (500) 1,700
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- Use the following information of Prescrip Co. to prepare a calendar year-end statement of comprehensive income. Total comprehensive income (final total) $ 9,400 Other comprehensive income (subtotal) $ (600) Net income . 10,000 Change in foreign currency translation 1,400 Change in value of available-for-sale securities (2,000)A wholly owned subsidiary of a U.S. parent company haS certain expense accounts for the year ended December 31, 2011, stated in local currency units (LCU) as follows: LCU Depreciation of equipment (related assets were purchased January 1, 2009) 375,000 Provision for doubtful accounts 250,000 Rent 625,000 The exchange rates at various dates are as follows: Dollar equivalent of 1 LCU December 31, 2011 $0.50 0,55 Average for year ended December 31, 2011 0.40 January 1, 2009 10:59 T-TI/-W EN lenovo DODOLBYOFINANCIAL RATIO: Requirement: Compute for the following financial ratios for the year 2021 (round-off answers to two decimal places) f. Accounts receivable turnover (assume all sales are on credit) g. Days of receivable (use 365 days) h. Debt ratio i. Equity ratio j. Debt-to-equity ratio k. Gross profit ratio 1. Net profit ratio m. Return on assets n. Return on equity
- FINANCIAL RATIO: Requirement: Compute for the following financial ratios. for the year 2021 (round-off answers to two decimal places) d. Inventory turnover e. Days of inventory (use 365 days) f. Accounts receivable turnover (assume all sales are on credit) g. Days of receivable (use 365 days) h. Debt ratio i. Equity ratio j. Debt-to-equity ratioCalculate the activity and liquidity ratios for P for the year ended 31 December 20X9. Revenue Gross profit Inventory Trade receivables Trade payables Cash Short-term investments Other current liabilities $m 1,867.5 489.3 147.9 393.4 275.1 53.8 6.2 284.3 Current ratio= Current assets Current liabilities Inventory days Inventory days = inventory+ cost of sales × 365 Receivable days Receivable days - receivables + credit sales x 365 Payable days Payable days = payables ÷ credit purchases x 365.a What amount ahould be reported as net realizable value current year. The entity established an allowance for Germany Company started businens at the beginning of During the year, the entity wrote off P50,000 of uncollectible Problem 4-16 (PHILCPA Adapted) During the year, the entity wrote off P50,000 of uncolleetible accoanta Farther analyeis showed that merchandise purchased amounted to P9,000,000 and ending merchandise inventory was P1,500,000. Goods were sold at 40% above cost. The total sales comprised 80% sales on account and 20% caah sales. Total collections from customers, excluding cash sales, amounted to P6,000,000, 1. What amount should be reported as cost of goods sold? 7,500,000 b. 5,400,000 e 3,600,000 d. 6,900,000 2 What amount ahould be reported as sales on account L 10,500,000 18,750,000 e. 12,000,000 d. 8,400,000 of accounta receivable at year-end? L 1,980,000 b. 2,350,000 e 1,930,000 d. 2,400,000
- FINANCIAL RATIO: Requirement: Compute for the following financial ratios for the year 2021 (round-off answers to two decimal places) a. Current ratio b. Quick (Acid-test) ratio c. Working capital d. Inventory turnover e. Days of inventory (use 365 days) f. Accounts receivable turnover (assume all sales are on credit) g. Days of receivable (use 365 days) h. Debt ratio i. Equity ratio j. Debt-to-equity ratio k. Gross profit ratio 1. Net profit ratio m. Return on assets n. Return on equityview Policies Current Attempt in Progress Using these data from the comparative balance sheet of Cullumber Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Amount Percentage Accounts receivable $ 467,400 $ 410,000 Inventory $ 785,400 % $ 660,000 % Total assets $3,197,900 % $2,830,000 % eTextbook and Media Save for Later Attempts: 0 of 3 used Submit AnswerCurrent Attempt in Progress XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g.…
- 7. Halal Berhad’s comparative financial statements for the years ending 31 December 2020, and 2019, are as follows. Halal Berhad’s common stock market price was RM35 on 31 December 2020 and RM40 on 31 December 2019. Halal Berhad Statement of Profit or Loss and Other Comprehensive Income For the years ended 31 December 2020 and 2019 2020 (RM’000) 2019 (RM’000) Sales 1,200 1,000 Cost of goods sold 500 475 Gross Profit 700 525 Selling expenses 240 200 Administrative expenses 180 150 Total operating expenses 420 350 Income from operations 280 175 Other income 166 225 446 400 Other expense (interest) 66 60 Income before income tax 380 340 Income tax expense 80 60 Net income 300 280 Halal Berhad Statement of Financial Position As at 31 December…Using these data from the comparative balance sheet of Sunland Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Amount Percentage Accounts receivable $ 529,000 Enter a value in percentages rounded to 1 decimal place. % $ 460,000 Enter a value in percentages rounded to 1 decimal place. % Inventory $ 837,800 Enter a value in percentages rounded to 1 decimal place. % $ 710,000 Enter a value in percentages rounded to 1 decimal place. % Total assets $3,225,600 Enter a value in percentages rounded to 1 decimal place. % $2,880,000 Enter a value in percentages rounded to 1 decimal place. %7. Halal Berhad’s comparative financial statements for the years ending 31 December 2020, and 2019, are as follows. Halal Berhad’s common stock market price was RM35 on 31 December 2020 and RM40 on 31 December 2019. Halal Berhad Statement of Profit or Loss and Other Comprehensive Income For the years ended 31 December 2020 and 2019 2020 (RM’000) 2019 (RM’000) Sales 1,200 1,000 Cost of goods sold 500 475 Gross Profit 700 525 Selling expenses 240 200 Administrative expenses 180 150 Total operating expenses 420 350 Income from operations 280 175 Other income 166 225 446 400 Other expense (interest) 66 60 Income before income tax 380 340 Income tax expense 80 60 Net income 300 280 Halal Berhad Statement of Financial Position As at 31 December…