| 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 (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 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 |
|
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.
Prepare a statement of cash flows for 2019 for Stiller Corporation.
Calculate the company’s free cash flow.
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 |
|||
|
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 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:
In: Accounting
_______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% |
|
In: Accounting
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 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 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