CHARITY AND SPONSOR ADS
Shopping Cart
0 items
 

Scully Corporation’s comparative balance sheets are presented below

Scully Corporation’s comparative balance sheets are presented below
Click to enlarge
Price: $9.99
Availability: In Stock
Model: A
Average Rating: 5 out of 5 Stars!

INSTANT DOWNLOAD

Solution Guide / Answer Key:

E15-11 Scully Corporation’s comparative balance sheets are presented below.

SCULLY CORPORATION
Balance Sheets
December 31
2008 2007
Cash $ 4,300 $ 3,700
Accounts receivable 21,200 23,400
Inventory 10,000 7,000
Land 20,000 26,000
Building 70,000 70,000
Accumulated depreciation (15,000) (10,000)
Total $110,500 $120,100
Accounts payable $ 12,370 $ 31,100
Common stock 75,000 69,000
Retained earnings 23,130 20,000
Total $110,500 $120,100

Scully’s 2008 income statement included net sales of $100,000, cost of goods sold of $60,000, and net income of $15,000.

Instructions
Compute the following ratios for 2008.
(a) Current ratio.
(b) Acid-test ratio.
(c) Receivables turnover.
(d) Inventory turnover.
(e) Profit margin.
(f) Asset turnover.
(g) Return on assets.
(h) Return on common stockholders’ equity.
(i) Debt to total assets ratio.

 

FILE: MS WORD

Write Review
Your Name:


Your Review: Note: HTML is not translated!

Rating: Bad            Good

Enter the code in the box below:

There are no additional images for this product.