Questions
2019 2018 Net Sales $        3,749.9 $        3,917.2 Consolidated Balance Sheet 2019 2018 Cash and Cash equivalents $      &nbs

2019 2018
Net Sales $        3,749.9 $        3,917.2
Consolidated Balance Sheet
2019 2018
Cash and Cash equivalents $             281.9 $             253.2
Trade receivables, net of allowance $7.2 and $9.3, $             450.8 $             448.7
at 12/31/19 & 12/31/18 respectively
Other receivables, net $                35.8 $                71.5
Total receivables, net $             486.6 $             520.2
Inventories
Finished goods $             255.7 $             242.8
Work in progress $                52.6 $                42.6
Raw materials & supplies $             245.1 $             241.8
LIFO reserve $              (33.8) $              (22.6)
Total inventories, net $             519.6 $             504.6
Prepaid expenses and other current assets $                36.8 $                33.2
Total current assets $        1,324.9 $        1,311.2
Property, plant and equipment-at cost
machinery and equipment $        1,133.8 $        1,099.1
Buildings and other $             559.4 $             548.2
Land $                37.7 $                40.0
Total property, plant and equipment $        1,730.9 $        1,687.3
Less accumulated depreciation $      (1,165.4) $      (1,146.5)
Net property, plant and equipment $             565.5 $             540.8
Other assets
Goodwill 791.3 806.1
Other intangibles, less accumulated amortization 164.9 188.4
of $137.0 & $139.8 at 12/31/19 & 12/31/18 respectively
Sundry 137.5 117.2
Total other assets 1093.7 1111.7
Total assets $        2,984.1 $        2,963.7
Be sure to show all work
Complete the following 4 questions.
A. Find the accounts receivable turnover for 2019 & 2018.
At 12/31/17, accounts and other receivables , net were $523.3
2019 2018
Answer
B. Find the days sales outstanding (DSO) for each year.
Answer
C. Does the number of days to collect receivables seem
apporpriate for the company (company in consumer goods, sells
to retailers).
Answer:
D. How could the company improve its accounts
receivables turnover?
Answer:

In: Accounting

nformation pertaining to Noskey Corporation’s sales revenue follows: November 2018 (Actual) December 2018 (Budgeted) January 2019...

nformation pertaining to Noskey Corporation’s sales revenue follows:

November 2018
(Actual)
December 2018
(Budgeted)
January 2019
(Budgeted)
Cash sales $ 180,000 $ 160,000 $ 100,000
Credit sales 360,000 500,000 260,000
Total sales $ 540,000 $ 660,000 $ 360,000

Management estimates 5% of credit sales to be uncollectible. Of collectible credit sales, 60% is collected in the month of sale and the remainder in the month following the month of sale. Purchases of inventory each month include 70% of the next month’s projected total sales (stated at cost) plus 30% of projected sales for the current month (stated at cost). All inventory purchases are on account; 25% is paid in the month of purchase, and the remainder is paid in the month following the month of purchase. Purchase costs are approximately 60% of the selling price.

Required:

Determine for Noskey:

1. Budgeted cash collections in December 2018 from November 2018 credit sales.

2. Budgeted total cash receipts in January 2019

*the question gives the following layout:

January 2019

Cash sales in January

Collections from credit sales in January:

Total collectible from credit sales

Percentage to be collected in January

Collections from credit sales in December:

Total collectible from credit sales

Percentage to be collected in January

Budgeted total cash receipts in January

3. Budgeted total cash payments in December 2018 for inventory purchases.

*layout given in problem:

Total inventory purchases in November:

For November Sales:

For December Sales:

Percentage of November purchases to be paid in December:

Payment in December for purchases in November:

Budgeted purchases in December:

For December sales:

For January sales:

Percentage of December purchases to be paid in December

Payment in December for purchases in December

Budgeted cash payment in December for inventory purchases

In: Accounting

Input Data 2018 2017 Ratios 2018 2017 % Variance Revenues $500,343 $485,873 1.Profitability Ratios Cost of...

Input Data 2018 2017 Ratios 2018 2017 % Variance Revenues $500,343 $485,873 1.Profitability Ratios Cost of Goods Sold 373,396 361,256 a.Gross Margin Percentage = Gross Profit ÷ Revenues 25.37% 25.65% -1.08% Gross Profit 126,947 124,617 b.EBIT Margin Percentage = EBIT ÷ Revenues 4.08% 4.69% -12.82% EBIT 20,437 22,764 Interest Expense 1,978 2,044 Resource Management Ratios: Net Income 10,523 14,293 "a. Age of Inventory = Inventories ÷ Average Daily Cost of Goods Sold" 43 43 -1.59% Accounts Receivable 5,614 5,835 "b. Age of Accounts Receivable = Accounts Receivable ÷ Average Daily Credit Sales" 83 88 -6.59% Inventories 43,783 43,046 "c. Age of Accounts Payable = Accounts Payable ÷ Average Daily Purchases" 5 6 -7.46% Current Assets 59,664 57,689 Total Assets 204,522 198,825 "3. Liquidity Ratio:" Accounts Payable 46,092 41,433 "a. Current Ratio = Current Assets ÷ Current Liabilities" 0.76 0.86 -11.85% Current Liabilities 78,521 66,928 Total Liabilities 123,700 118,290 "4. Leverage Ratios" Total Stockholders' Equity 80,822 80,535 "a. Debt-to-Assets Ratio = Total Liabilities ÷ Total Assets" 0.60 0.59 1.66% "b. Debt-to-Equity Ratio = Total Liabilities ÷ Total Stockholders' Equity" 1.53 1.47 4.20% Credit Sales 24,788.05 24,065.85 "c. Interest Coverage = EBIT ÷ Interest Expense" 10.33 11.14 -7.23% Beginning Inventory 43,046.00 44,469.00 Ending Inventory 43,783.00 43,046.00 DuPont Ratio Purchases 374,133 359,833 Profit Margin = Net Income ÷ Revenues 2.10% 2.94% -28.51% Asset Turnover = Revenues ÷ Assets 2.45 2.44 0.11% Financial Leverage = Assets ÷ Equity 2.53 2.47 2.50% ROE = Profit Margin x Asset Turnover x Financial Leverage 13.02% 17.75% -26.64% with the given information, what are the dupont and leverage ratios? please provide calculations

In: Accounting

Stiller Corporation Comparative Balance Sheet (2018-2019) in USD # TEXT 2019 2018 1 Cash $157,000 $78,000...

Stiller Corporation Comparative Balance Sheet (2018-2019) in USD

#

TEXT

2019

2018

1

Cash

$157,000

$78,000

2

Accounts Receivable

180,000

185,000

3

Investments

52,000

74,000

4

Equipment

298,000

240,000

5

Less Accumulated depreciation

(106,000)

(89,000)

6

Current liabilities

134,000

151,000

7

Common Stock

160,000

160,000

8

Retained Earnings

287,000

177,000

Additional information:

Investments were sold at a loss (not extraordinary) of $7,000; no equipment was sold; cash dividends paid were $50,000; and net income was $160,000.

  1. Prepare a statement of cash flows for 2019 for Stiller Corporation.

  2. Calculate the company’s free cash flow.

  3. Assuming the 2019 cash flows grow at the rates of 20%, 18%, 15% in 2020, 2021, and 2022 respectively, and then stabilizes at 10% calculate the current value of Stiller Corporation. Assume the company’s weighted average cost of capital is 12%.

In: Accounting

Data Table Outdoor Adventure Company Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets...

Data Table

Outdoor Adventure Company

Comparative Balance Sheet

December 31, 2019 and 2018

2019

2018

Assets

Current Assets:

Cash

$1,398,330

$14,790

Short-term Investments, net

29,000

0

Accounts Receivable, net

1,600

6,300

Merchandise Inventory

400

0

Office Supplies

70

300

Prepaid Rent

0

2,000

Property, Plant, and Equipment:

Land

615,000

75,000

Building

944,000

94,000

Canoes

13,920

13,920

Office Furniture and Equipment

140,000

0

Accumulated Depreciation—PP&E

(31,920)

(1,740)

Total Assets

$3,110,400

$204,570

Liabilities

Current Liabilities:

Accounts Payable

$6,420

$4,400

Utilities Payable

550

250

Telephone Payable

640

290

Wages Payable

3,700

1,200

Notes Payable

18,000

0

Interest Payable

630

30

Unearned Revenue

650

450

Long-Term Liabilities:

Notes Payable

6,720

6,720

Mortgage Payable

725,000

0

Bonds Payable

1,000,000

0

Discount on Bonds Payable

(1,140)

0

Total Liabilities

1,761,170

13,340

Stockholders' Equity

Paid-In Capital:

Preferred Stock

60,000

0

Paid-In Capital in Excess of Par—Preferred

480,000

0

Common Stock

229,000

189,000

Paid-In Capital in Excess of Par—Common

240,000

0

Retained Earnings

340,230

2,230

Total Stockholders' Equity

1,349,230

191,230

Total Liabilities and Stockholders' Equity

$3,110,400

$204,570

1.

The income statement for

20192019

included the following items:

a.

Net income, $ 435 comma 000$435,000

b.

Depreciation expense for the year,

$ 30 comma 180$30,180.

c.

Amortization on the bonds payable,

$ 380$380.

2.

There were no disposals of property, plant and equipment during the year. All acquisitions of PP&E were for cash except the land, which was acquired by issuing preferred stock.

3.

The company issued bonds payable with a face value of

$ 1 comma 000 comma 000$1,000,000 ,

receiving cash of

$ 998 comma 480$998,480.

4.

The company distributed

8 comma 0008,000

shares of common stock in a stock dividend when the market value was

$ 9.00$9.00

per share. All other dividends were paid in cash.

5.

The common stock, except for the stock dividend, was issued for cash.

6.

The cash receipt from the notes payable in

20192019

is considered a financing activity because it does not relate to operations.

Net Cash Provided by (Used for) Investing Activities

(990,000)

Cash Flows From Financing Activities:

Cash Receipt from Issuance of Common Stock

Cash Receipt from Issuance of Notes Payable

Cash Receipt from Issuance of Mortgage Payable

Cash Receipt from Issuance of Bonds Payable

Cash Payment of Dividends

Net Cash Provided by (Used for) Financing Activities

Choose from any list or enter any number in the input fields and then click Check Answer.

Need help solving how to find the solution

In: Accounting

WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions) 2020 2019 2018 Current...

WIPER INC.
Condensed Balance Sheets
December 31, 2020, 2019, 2018
(in millions)
2020 2019 2018
Current assets $ 681 $ 906 $ 753
Other assets 2,415 1,922 1,721
Total assets $ 3,096 $ 2,828 $ 2,474
Current liabilities $ 566 $ 805 $ 712
Long-term liabilities 1,521 995 842
Stockholders’ equity 1,009 1,028 920
Total liabilities and stockholders' equity $ 3,096 $ 2,828 $ 2,474
WIPER INC.
Selected Income Statement and Other Data
For the year Ended December 31, 2020 and 2019
(in millions)
2020 2019
Income statement data:
Sales $ 3,052 $ 2,915
Operating income 298 312
Interest expense 86 67
Net income 197 192
Other data:
Average number of common shares outstanding 41.5 46.9
Total dividends paid $ 52.0 $ 52.5


Required:

  1. Calculate return on investment, based on net income and average total assets, for 2020 and 2019.
  2. Calculate return on equity for 2020 and 2019.
  3. Calculate working capital and the current ratio for each of the past three years.
  4. Calculate earnings per share for 2020 and 2019.
  5. If Wiper's stock had a price/earnings ratio of 12 at the end of 2020, what was the market price of the stock?
  6. Calculate the cash dividend per share for 2020 and the dividend yield based on the market price calculated in part e.
  7. Calculate the dividend payout ratio for 2020.
  8. Assume that accounts receivable at December 31, 2020, totaled $311 million. Calculate the number of days' sales in receivables at that date.
  9. Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2020 and 2019.
  10. Calculate the times interest earned ratio for 2020 and 2019.

In: Accounting

_______5. Happy Days, Inc. Comparative Balance Sheet June 30, 2019 and 2018 Assets Increase (Decrease) 2018...

_______5.

Happy Days, Inc.

Comparative Balance Sheet

June 30, 2019 and 2018

Assets

Increase (Decrease)

2018

2017

Amount

Percent

Current assets

$256,000

$190,000

Property, plant, and equipment

428,000

405,000

Intangible assets

24,000

32,000

Total Assets

$708,000

$81,000

12.9%

Liabilities

Current liabilities

$81,000

$89,000

Long-term liabilities

235,000

275,000

Total Liabilities

$316,000

$(48,000)

(13.2%)

Stockholders’ Equity

Common stock

$276,000

$210,000

Retained earnings

116,000

53,000

Total Stockholders’ Equity

$392,000

$129,000

49.0%

Total Liabilities & Stockholders’ Equity

$708,000

$81,000

12.9%

  1. Prepare a comparative balance sheet (horizontal analysis) for June 30, 2019 and 2018. (Round percentages to one decimal place.)
  1. Interpret your findings: Focus on two accounts you find most interesting and explain why. What may have caused the accounts to change?

  1. Vertical Analysis: In 2019: Current Assets are what % of Total Assets?   _____________

In: Accounting

A website that sells movie tickets can tell what devices are used to access their site...

A website that sells movie tickets can tell what devices are used to access their site and make purchases. The manager of the website is approached by members of a movie production company who want to partner in the development of a phone app. To estimate what proportion of ticket buyers make purchases using their smart phones, 400 users of the website were randomly sampled from the existing database and 180 were found to have used their smart phones.

   Assuming the true proportion were thought to be 0.45, what would be the probability that a majority of the purchases were made using a smart phone?

   What would be an 85% confidence interval for the proportion of website visitors who purchased tickets using a smart phone?

In: Statistics and Probability

Tracy is in her last semester of nursing school where she is taking a course in...

Tracy is in her last semester of nursing school where she is taking a course in which her class learns about the importance of evidence-based practice. Dr. Minturn, the nursing professor who teaches the course, has asked the students to write a paper about a mock research study of their choosing. The students are to pose a clinical question and then map how they would create a research study around the question. They are not to actually carry out the research, but they are to envision what their study would look like and then map it on paper.

1. Tracy needs to conduct a literature review of her chosen phenomena of study. One database she can use to obtain peer reviewed nursing articles is:

In: Nursing

Determine which of the following statements are: (a) true for systems flowcharts only, (b) true for...

Determine which of the following statements are: (a) true for systems flowcharts only, (b) true for data flow diagrams only, (c) true for both or (d) true for neither. 1) Can be prepared using information technology tools 2) Clearly specifies responsibility for business processes 3) Commonly thought of as the one best way to represent an AIS 4) Incorporates verb phrases to label processes 5) Labels data flows between processes 6) May span multiple pages 7) Processes can be represented with different types of symbols 8) Represents processes with a single symbol type 9) Should be uncluttered and easy to read 10) Uses a symbol to represent a database

In: Computer Science