6. Ratio computation. The financial statements of the Lone P.docx

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6. Ratio computation . The financial statements of the Lone Pine Company follow. LONE PINE COMPANY Comparative Balance Sheets December 31, 20X2 and 20X1 ($000 Omitted) 20X2 20X1 Assets Current Assets Cash and Short-Term Investments $400 $600 Accounts Receivable (net) 3,000 2,400 Inventories 3,000 2,300 Total Current Assets $6,400 $5,300 Property, Plant, and Equipment Land $1,700 $500 Buildings and Equipment (net) 1,500 1,000 Total Property, Plant, and Equipment $3,200 $1,500 Total Assets $9,600 $6,800 Liabilities and Stockholders’ Equity Current Liabilities Accounts Payable $2,800 $1,700 Notes Payable 1,100 1,900 Total Current Liabilities $3,900 $3,600 Long-Term Liabilities Bonds Payable 4,100 2,100 Total Liabilities $8,000 $5,700 Stockholders’ Equity Common Stock $200 $200 Retained Earnings 1,400 900 Total Stockholders’ Equity $1,600 $1,100 Total Liabilities and Stockholders’ Equity $9,600 $6,800 LONE PINE COMPANY Statement of Income and Retained Earnings For the Year Ending December 31,20X2 ($000 Omitted) Net Sales* $36,000 Less : Cost of Goods Sold $20,000 Selling Expense 6,000 Administrative Expense 4,000 Interest Expense 400 Income Tax Expense 2,000 32,400 Net Income $3,600 Retained Earnings, Jan. 1 900 Ending Retained Earnings $4,500 Cash Dividends Declared and Paid 3,100 Retained Earnings, Dec. 31 $1,400 *All sales are on account. Instructions Compute the following items for Lone Pine Company for 20X2, rounding all calculations to two decimal places when necessary: a. Quick ratio b. Current ratio c. Inventory-turnover ratio d. Accounts-receivable-turnover ratio e. Return-on-assets ratio f. Net-profit-margin ratio g. Return-on-common-stockholders’ equity h. Debt-to-total assets i. Number of times that interest is earned .

Education

3,000
2,300
Total Current Assets
$6,400
$5,300
Property, Plant, and Equipment
Land
$1,700
$500
Buildings and Equipment (net)
1,500
1,000
Total Property, Plant, and Equipment
$3,200
$1,500
Total Assets
$9,600
$6,800
Liabilities and Stockholders’ Equity
Current Liabilities
Accounts Payable

$2,800
$1,700
Notes Payable
1,100
1,900
Total Current Liabilities
$3,900
$3,600
Long-Term Liabilities
Bonds Payable
4,100
2,100
Total Liabilities
$8,000
$5,700
Stockholders’ Equity
Common Stock
$200
$200
Retained Earnings
1,400

900
Total Stockholders’ Equity
$1,600
$1,100
Total Liabilities and Stockholders’ Equity
$9,600
$6,800
LONE PINE COMPANY
Statement of Income and Retained Earnings
For the Year Ending December 31,20X2 ($000 Omitted)
Net Sales*
$36,000
Less
: Cost of Goods Sold
$20,000

Selling Expense
6,000
Administrative Expense
4,000
Interest Expense
400
Income Tax Expense
2,000
32,400
Net Income
$3,600
Retained Earnings, Jan. 1
900
Ending Retained Earnings
$4,500
Cash Dividends Declared and Paid
3,100

Retained Earnings, Dec. 31
$1,400
*All sales are on account.
Instructions
Compute the following items for Lone Pine Company for 20X2,
rounding all calcu-lations to two decimal places
when necessary:
a. Quick ratio
b. Current ratio
c. Inventory-turnover ratio
d. Accounts-receivable-turnover ratio
e. Return-on-assets ratio
f. Net-profit-margin ratio
g. Return-on-common-stockholders’ equity
h. Debt-to-total assets
i. Number of times that interest is earned

Similar to 6. Ratio computation. The financial statements of the Lone P.docx

Complete Week Four Assignment in WileyPLUS: • Exercise Do It! 11-1 • Exercise E11-15 • Exercise E11-16 • Problem P11-6A • Problem P11-8A Week 4 assignment Question 1 Correct. Indicate whether each of the following statements is true or false. 1. The corporation is an entity separate and distinct from its owners. (True) 2. The liability of stockholders is normally limited to their investment in the corporation. (True) 3. The relative lack of government regulation is an advantage of the corporate form of business. (False) 4. There is no journal entry to record the authorization of capital stock. (True) 5. No-par value stock is quite rare today. (False)

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Answer each of the questions in the following unrelated situations..docx

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The comparative balance sheet of Iglesias Inc for December .pdf

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Remaining Time: 31 minutes, 22 seconds QUESTION 1 Question Completion Status REQUIRED: 1 During 2018, Stephenson experienced the following transactions relating to its investment in stock: 6/1 Stephenson purchased 700 shares of Dawe common share for $14,600 9/1 11/1 12/30 Dawe paid cash dividends, $1/share Stephenson sold 20% of the Dave shares for $6,300 in total. Dawe paid cash dividends, $.50/share >>Present the journal entries for the transaction on the books of Stephenson. REQUIRED: 2. Sherollyn Company invested in two companies in 2020 These company are Bamco Company and KingFeco Industries, Inc. Facts about both investments are as follows: FV/share at 12/31 Income of Investee %Holding 40% 7.5% #0f shares Held 30,000 15,000 Cost/share 511 $13 Investee $11.50 $14.75 $80,000 $122,000 Bamco KingFeco In addition, Bamco paid $60,000 in total cash dividends in 2020 KingFeco paid a $30,000 total cash dividend in 2020 >>Prepare ALL 2020 required journal entries for both investments on the books of Sherrollyn Company REQUIRED: Juli e Company pu chased bonds with a total face value $900,000 f om K pple Company on February 1 2018 at 100 quote The bonds are 9% 51,000 bonds 3. and pay interest every February 1 The bonds are a trading security on Julie\'s books. On December 31, the bonds have a market value reflecting a 97 quote. >>Present ALL iournal entries related to the bond investment reauired by Jullie in 2018 December 31 is fiscal year en Click Save and Submit to save and submit. Click Save All Answers to save all answers Solution SOLUTION Question -1DateAccount titles and ExplanationDebit ($)Credit ($)6/1Investment in Stock14,600Common shares14,600(To record purchase of shares)9/1Dividend (700 * $1)700Cash700(To record payment of dividend)11/1Cash6,300Investment in shares6,300(To record sales of Dawe shares)12/30Dividends280Cash (700 * 80% * $0.50)280(To record payment of dividend).

Remaining Time 31 minutes, 22 seconds QUESTION 1 Question Completion.pdf

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DOL Co. had the following account balances as of December 1, 2015: Inventory $720,000 Land 600,000 Building—net (valued at $1,200,000) 1,080,000 Common stock ($10 par value) 960,000 Retained earnings, December 1, 2010 1,320,000 Revenues 720,000 Expenses 600,000 Miller Inc. transferred $1.7 million in cash and 12,000 shares of its newly issued $30 par value common stock (valued at $90 per share) to acquire all of DOL’s outstanding common stock. Assume that Miller paid cash of $2.8 million. No stock is issued. An additional $50,000 is paid in direct combination costs. For Goodwill, determine what balance would be included in a December 1, 2015 consolidation? Solution Total fair value of assets acquired =total assets + revaluation increase 2,400,000 + 120,000 = 2,520,000 Total consideration paid = 1,700,000 + 12000 shares X 90 per share 1,700,000 + 1,080,000 = $ 2,780,000 Goodwill = 2,780,000 - 2,520,000 = $ 260,000 If all cash given and extra cash for covering cost than consideration = 2,800,000 + 50,000 = $ 2,850,000 Total fair value of assets = $ 2,520,000 Goodwill = $ 3,30,000..

DOL Co. had the following account balances as of December 1, 2015.pdf

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The comparative balance sheet of Iglesias Inc for December .pdf

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DOL Co. had the following account balances as of December 1, 2015.pdf

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A learning organization is a dynamic business environment that encourages and fosters continuous learning in order to compete effectively in a highly competitive 21st century economy. What are the characteristics of a learning organization, and how do these characteristics help managers and employees work together to rise to the challenges they must confront in a rapidly changing business environment? .

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A good interviewer uses interview methodologies and techniques that not only help him or her build rapport with the interviewee but also drive the interview in a favorable direction. This assignment tests your understanding of various interview methodologies. It also focuses on the components of statement analysis—an important skill that helps detect deceit in an interviewee's statements. Tasks: Using the Argosy University online library resources, prepare a 4- to 5-slide, APA-formatted Microsoft PowerPoint presentation that includes responses to Part 1 and Part 2. Part 1 Use scholarly sources to compare any two of the following interviewing methodologies: Structural interviews Inferential interviews Behavioral interviews Cognitive interviews Clearly define each methodology chosen and examine in what situations it may be appropriate. Part 2 Explore the components of statement analysis—a complex skill that can help you determine the level of deception in a witness's or a suspect's statement. Identifying deception leads one to dig deeper, investigate further, and ask more, often difficult, direct questions. Instructions Consider the following example of a statement and its component: Statement Statement Component "Decided to go for a walk. Got out there. Umm . . . stood for a few moments and received a page from home. Something was going on at home. Let's go back and make a phone call and see what's going on. Parts of speech, specifically missing pronouns Analyze the following statements and identify as many applicable components of statement analysis as you can attribute to the deception: "Got approached by a gentleman asking for money. When I addressed him, I was struck in the rear and knocked to the ground. Struggled with him. There was a shot that went off. Struggled with him, and there was another shot that went off. That was the shot that hit me." "On July 4, 2011, at about 4:00 p.m., came home from work and took a shower. Was getting ready to head out to some friends' barbeque and party. My friends Jerry and Paul were having some people over for the Fourth of July. Sat down for a few minutes to watch television and relax. Had two beers until about 5:30 p.m. "Put my feet up on the table when the doorbell rang. It was an ex-girlfriend, Sally. She sat down with me for a few minutes. They wanted to tell me about their new boyfriend. I wasn't so happy about it; I didn't really want to break up with her. I watched the race and argued some, and she left, at six or so. "At about 7:00 p.m. drove to my friends' place. They live in the country and it took me an hour to get there, arrived at eight or so. When we got to the party, there were about ten or twelve people there; they were pretty wasted already, and they were drinking most of the day. Sat down outside and had a few shots and several beers. It was hot, so I went inside, and I watched television to cool off. Drank about two more beers and talked with two girls that were friends o.

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