LARKER TOOL SA Statements of Financial Position December 31 Assets 2017 2016 Plant assets (net) R$600,300...
LARKER TOOL SA
Statements of Financial Position
December 31
Assets 2017 2016
Plant assets (net) R$600,300 R$520,300
Current assets
Inventory R$110,950 R$115,500
Accounts receivable (net) 105,750 102,800
Short-term investments 69,000 50,000
Cash 60,100 345,800 64,200 332,500
Total assets R$946,100 R$852,800
Equity and Liabilities 2017 2016
Equity
Share capital—ordinary (R$5 par) R$300,000 R$300,000
Retained earnings 242,600 165,000
Total equity 542,600 465,400
Bonds payable 200,000 200,000
Current liabilities
Accounts payable 160,000 145,400
Income taxes payable 43,500 42,000
Total current liabilities 203,500 187,400
Total liabilities 403,500 387,400
Total equity and liabilities R$946,100 R$852,800
All sales were on account.
Instructions:
Compute the following ratios for 2017. (Weighted-average ordinary shares in 2017 were 60,000.)
(f) Accounts receivable turnover.
(g) Inventory turnover.
(h) Times interest earned.
(i) Asset turnover.
(j) Debt to assets ratio.
Homework Answers
| (j) | Debt to Assets ratio | = | Total liabilities | / | Total assets | ||
| $403,500 | / | $946,100 | = | 0.43 | |||
| f | Account receivable turnover | = | Net sales | / | Average account receivable | ||
| = | Net sales | / | (105750+102800)/2 | ||||
| g | Inventory turnover | = | Cost of goods sold | / | Average inventory | ||
| Cost of goods sold | / | (110950+115500)/2 | |||||
| h | Interest earned | = | EBIT | / | Interest expense | ||
| i | Asset turonver | = | Net sales | / | Average assets | ||
| Net sales | / | (946100+852800)/2 | |||||
| Note: for question f, g and I please provide Income statement data to get answers. | |||||||
Add Answer to:
LARKER TOOL SA
Statements of Financial Position
December 31
Assets 2017 2016
Plant assets (net) R$600,300...
LARKER TOOL SA Statements of Financial Position December 31 Assets 2017 2016 Plant assets (net)...
LARKER TOOL SA Statements of Financial Position December 31 Assets 2017 2016 Plant assets (net) R$600,300 R$520,300 Current assets Inventory R$110,950 R$115,500 Accounts receivable (net) 105,750 102,800 Short-term investments 69,000 50,000 Cash 60,100 345,800 64,200 332,500 Total assets R$946,100 R$852,800 Equity and Liabilities 2017 2016 Equity Share capital—ordinary (R$5 par) R$300,000 R$300,000 Retained earnings 242,600 165,000 Total equity 542,600 465,400 Bonds payable 200,000 200,000 Current liabilities Accounts payable 160,000 145,400 Income taxes payable 43,500 42,000 Total current...
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please help me out experts !
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