Homework Answers
Question- 95.
Answer : C = 0.7
Asset Turnover = Net sales / Avg assets = $ 805000 / $ 1150000 = 0.7.
Question- 96.
Answer : A = 16.90 %
Rate of return on asset = ( Net income * 100 ) / Avg assets = ( $ 169000 * 100 ) / $ 1000000 = 16.90 %
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Multiple Choice Question 95 Oriole Company gives you the following information pertaining to the year 2017....
Multiple Choice Question 93 Cullumber Company reports the following information: Net cash provided by operating activities...
Multiple Choice Question 93 Cullumber Company reports the following information: Net cash provided by operating activities Average current liabilities Average long-term liabilities Dividends declared Capital expenditures Payments of debt $300000 140000 110000 64000 119000 35000 Cullumber's cash debt coverage is O 2.73. 2.14. 2.52. 1.20. Click if you would like to Show Work for this question: Open Show Work Multiple Choice Question 94 Oriole Company reports the following information: Net cash provided by operating activities Average current liabilities Average long-term...
Problem 3.20 Oriole Bottling Company reported the following information at the end of the year. Total...
Problem 3.20 Oriole Bottling Company reported the following information at the end of the year. Total current assets are worth $237,513 at book value and 220,000 at market value. In addition, plant and equipment have a market value of $343,222 and a book value of $387,000. The company's total current liabilities are valued at market for $134,889 and have a book value of $129,175. Both the book value and the market value of long-ternm debt are $144,000. If the company's...
Multiple Choice Question 84 Oriole Company began the year 2022 with $141100 in its Common Stock...
Multiple Choice Question 84 Oriole Company began the year 2022 with $141100 in its Common Stock account and a debit balance in Retained Earnings of $60500. During the year, the company earned net income of $30200, and declared and paid $10100 of dividends. In addition, the company sold additional common stock amounting to $37000. Based on this information, what should the transaction analysis show for total stockholders' equity at the end of 2022? $258700 $137700 $184900 $278900 Click if you...
The following financial information is for Oriole Company. ORIOLE COMPANY Balance Sheets December 31 Assets 2017...
The following financial information is for Oriole Company.
ORIOLE COMPANY
Balance Sheets
December 31
Assets
2017
2016
Cash
$ 70,000
$ 69,000
Debt investments (short-term)
51,000
40,000
Accounts receivable
107,000
92,000
Inventory
234,000
167,000
Prepaid expenses
26,000
23,000
Land
135,000
135,000
Building and equipment (net)
261,000
184,000
Total assets
$884,000
$710,000
Liabilities and Stockholders’ Equity
Notes payable
$172,000
$106,000
Accounts payable
66,000
52,000
Accrued liabilities
42,000
42,000
Bonds payable, due 2020
251,000
170,000
Common stock, $10 par
204,000
204,000
Retained...
Multiple Choice Question 98 The following information is available for Oriole Company: Sales $550000 Cost of...
Multiple Choice Question 98 The following information is available for Oriole Company: Sales $550000 Cost of goods sold 350000 Total fixed expenses Total variable expenses $150000 310000 A CVP income statement would report contribution margin of $400000. O gross profit of $240000. O contribution margin of $240000. O gross profit of $200000.
CALCULATOR PRINTER VERSION BOX Multiple Choice Question 149 Oriole Company developed the following information about its...
CALCULATOR PRINTER VERSION BOX Multiple Choice Question 149 Oriole Company developed the following information about its inventories in applying the lower of cost or market (LCM) basis invaluing inventories: Product Cost Market 5128000 $134000 90000 85000 C 179000 161000 If Oriole applies the LCM basis, the value of the inventory reported on the balance sheet would be 5405000 $400000 $392000 $397000 Click if you would like to Show Work for this questioni Coen Show Work
Oriole Supply Company Income Statement for the Fiscal Year Ended June 30, 2017($ thousands) Net sales...
Oriole Supply Company Income Statement for the Fiscal Year Ended June 30, 2017($ thousands) Net sales Cost of goods sold Selling and administrative expenses Nonrecurring expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Depreciation Earnings before interest and taxes (EBIT) Interest expense Earnings before taxes (EBT) Taxes (35%) Net income $2,110,000 1,460,000 317,000 27,000 $306,000 113,000 193,000 118,000 $75,000 26,250 $48,750 Oriole Supply Company Balance Sheet as of June 30, 2017($ thousands) Assets: Liabilities and Equity: Cash and marketable...
Problem 13-04A al,b (Video) The following financial information is for Oriole Company. Oriole Company Balance Sheets...
Problem 13-04A al,b (Video) The following financial information is for Oriole Company. Oriole Company Balance Sheets December 31 2020 2019 Assets Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2023 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity $ 69,000 $65,000 40,000 89,000 239,000 168,000 26,000 129,000 264,000 186,000 $888,000 $703,000 55,000 109,000 23,000 129,000 $169,000...
Problem 13-04A a1,b (Video) The following financial information is for Oriole Company. Oriole Company Balance Sheets...
Problem 13-04A a1,b (Video) The following financial information is for Oriole Company. Oriole Company Balance Sheets December 31 2019 Assets Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2023 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity 2020 $ 69,000$65,000 40,000 89,000 239,000 168,000 26,000 129,000 129,000 264,000 186,000 $888,000 $703,000 55,000 109,000 23,000 $169,000 $109,000...
Problem 13-04A a1,b (Video) The following financial information is for Oriole Company. Oriole Company Balance Sheets...
Problem 13-04A a1,b (Video) The following financial information is for Oriole Company. Oriole Company Balance Sheets December 31 Assets Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land 2020 $ 70,000 51,000 107,000 234,000 26,000 135,000 261,000 $884,000 2019 $ 69,000 40,000 92,000 167,000 23,000 135,000 184,000 $710,000 Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2023 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity...
Multiple Choice Question 93 Cullumber Company reports the following information: Net cash provided by operating activities Average current liabilities Average long-term liabilities Dividends declared Capital expenditures Payments of debt $300000 140000 110000 64000 119000 35000 Cullumber's cash debt coverage is O 2.73. 2.14. 2.52. 1.20. Click if you would like to Show Work for this question: Open Show Work Multiple Choice Question 94 Oriole Company reports the following information: Net cash provided by operating activities Average current liabilities Average long-term...
Problem 3.20 Oriole Bottling Company reported the following information at the end of the year. Total current assets are worth $237,513 at book value and 220,000 at market value. In addition, plant and equipment have a market value of $343,222 and a book value of $387,000. The company's total current liabilities are valued at market for $134,889 and have a book value of $129,175. Both the book value and the market value of long-ternm debt are $144,000. If the company's...
Multiple Choice Question 84 Oriole Company began the year 2022 with $141100 in its Common Stock account and a debit balance in Retained Earnings of $60500. During the year, the company earned net income of $30200, and declared and paid $10100 of dividends. In addition, the company sold additional common stock amounting to $37000. Based on this information, what should the transaction analysis show for total stockholders' equity at the end of 2022? $258700 $137700 $184900 $278900 Click if you...
The following financial information is for Oriole Company.
ORIOLE COMPANY
Balance Sheets
December 31
Assets
2017
2016
Cash
$ 70,000
$ 69,000
Debt investments (short-term)
51,000
40,000
Accounts receivable
107,000
92,000
Inventory
234,000
167,000
Prepaid expenses
26,000
23,000
Land
135,000
135,000
Building and equipment (net)
261,000
184,000
Total assets
$884,000
$710,000
Liabilities and Stockholders’ Equity
Notes payable
$172,000
$106,000
Accounts payable
66,000
52,000
Accrued liabilities
42,000
42,000
Bonds payable, due 2020
251,000
170,000
Common stock, $10 par
204,000
204,000
Retained...
Multiple Choice Question 98 The following information is available for Oriole Company: Sales $550000 Cost of goods sold 350000 Total fixed expenses Total variable expenses $150000 310000 A CVP income statement would report contribution margin of $400000. O gross profit of $240000. O contribution margin of $240000. O gross profit of $200000.
CALCULATOR PRINTER VERSION BOX Multiple Choice Question 149 Oriole Company developed the following information about its inventories in applying the lower of cost or market (LCM) basis invaluing inventories: Product Cost Market 5128000 $134000 90000 85000 C 179000 161000 If Oriole applies the LCM basis, the value of the inventory reported on the balance sheet would be 5405000 $400000 $392000 $397000 Click if you would like to Show Work for this questioni Coen Show Work
Oriole Supply Company Income Statement for the Fiscal Year Ended June 30, 2017($ thousands) Net sales Cost of goods sold Selling and administrative expenses Nonrecurring expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Depreciation Earnings before interest and taxes (EBIT) Interest expense Earnings before taxes (EBT) Taxes (35%) Net income $2,110,000 1,460,000 317,000 27,000 $306,000 113,000 193,000 118,000 $75,000 26,250 $48,750 Oriole Supply Company Balance Sheet as of June 30, 2017($ thousands) Assets: Liabilities and Equity: Cash and marketable...
Problem 13-04A al,b (Video) The following financial information is for Oriole Company. Oriole Company Balance Sheets December 31 2020 2019 Assets Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2023 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity $ 69,000 $65,000 40,000 89,000 239,000 168,000 26,000 129,000 264,000 186,000 $888,000 $703,000 55,000 109,000 23,000 129,000 $169,000...
Problem 13-04A a1,b (Video) The following financial information is for Oriole Company. Oriole Company Balance Sheets December 31 2019 Assets Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2023 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity 2020 $ 69,000$65,000 40,000 89,000 239,000 168,000 26,000 129,000 129,000 264,000 186,000 $888,000 $703,000 55,000 109,000 23,000 $169,000 $109,000...
Problem 13-04A a1,b (Video) The following financial information is for Oriole Company. Oriole Company Balance Sheets December 31 Assets Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land 2020 $ 70,000 51,000 107,000 234,000 26,000 135,000 261,000 $884,000 2019 $ 69,000 40,000 92,000 167,000 23,000 135,000 184,000 $710,000 Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2023 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity...
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