Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Calculate Ratios and compare results with industry averages.
Calculate a few ratios and compare Reed's results with industry averages. (Some industry averages are shown in Exhibit.) What do these ratios indicate?
Reed's Clothiers Selected Ratios
Liquidity Ratios
Industry
Current ratio
2.7
Quick ratio
1.6
Receivables turnover
7.7
Average collection period
47.4
Efficiency Ratios
Total asset turnover
1.9
Inventory turnover
7.0
Payable turnover
15.1
Profitability Ratios
Gross profit margin
33.0
Net profit margin
7.8
Return on common equity
25.9
Since many ratios may have different meanings the following definitions were used in the above calculations: Receivable turnover = sales/accounts receivable
Average collection period = 365/receivable turnover
Total asset turnover = cost of sales/total assets
Inventory turnover = cost of sales/inventories
Payable turnover = cost of sales/accounts payable
Purpose a post-closing trial balance and Journalize and post the adjusting entries.
Purpose the bank reconciliation at 30 th September, 2012. Purpose the adjusting entries at September 30, consider the NSF check was from a customer on account, and no interest had been accrued on the note.
Evaluate owner's equity at the end of 2008 and 2009? and If Nobel paid dividends of $100 in 2009, and made no stock issues. what must have been net income during the year?
Identify and briefly describe three ways you could use analytical procedures as risk assessment procedures, Identify and briefly describe three ways you could use analytical procedures as substantive procedures through the audit.
Evaluate product cost and purpose an income statement under absorption and variable costing.
Determine what balance would be included in a December 1, 2010 consolidation.
Evaluate the effect on classification, carrying value, and earnings for each of the given situations. Discuss whether U.S. GAAP under SFAS No. 115 or the needs of IAS.
Which of the following isn't a benefit of budgeting? It promotes efficiency It deters waste It is a base for performance evaluation
Show how you would account for the reduction of the building and how the replacement of the roof would affect the depreciation calculations about 600 words
Short case study report - A summary of the reason for and nature of the contract
What is Phoenix's merge retained earnings balance at 31 st December, 2013?
Check by number the accounting assumption, principle, or constraint that explains each situation below. Do not use a number more than once.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd