What would be the amount shown for inventory

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Reference no: EM131834624

Question 1

In 2017 KRJ International reported earnings before taxes of $100,000 and tax expense of $35,000, leaving net income of $65,000. During the year it sold a warehouse with a net book value of $16,555 for $13,595; the resulting gain or loss on the sale had been included in the calculation of earnings before taxes. Recalculate the company's net income with the unusual gain or loss removed.

Question 2

Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for inventory? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.

Sales	$17,689
Cost of goods sold	$8,738
Salaries expense	$3,035
Tax expense	$1,815
Net income	$1,246
Cash	$186
Accounts receivable	$401
Inventory	$401
Net fixed assets	$2,320
Total assets	$7,267
Accounts payable	$431
Accrued expenses	$285
Long-term debt	$1,209
Total liabilities	$4,616
Cash flow from operations	$3,494

Question 3

At the beginning of the year, Execon Company had total assets of $200,000, total liabilities of $110,000, and shareholders' equity of $90,000. For the year, Execon Company earned net income of $77,412 and declared cash dividends of $20,195. At the end of the year, the company had total assets of $298,048 and its shareholders' equity was at $143,789. At the end of the year, Execon Corporation had total liabilities of ________.

Question 4

Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized income statement, what would be the amount (i.e., percentage) shown for cost of goods sold? Presenting your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.

Sales	$107,578
Cost of goods sold	$54,125
Salaries expense	$6,219
Tax expense	$7,908
Net income	$10,223
Total liabilities	$29,085
Total assets	$59,629
Cash flow from operations	$26,403

Question 5

Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for accrued expenses? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.

Sales	$15,494
Cost of goods sold	$7,357
Salaries expense	$3,891
Tax expense	$1,694
Net income	$1,015
Cash	$179
Accounts receivable	$419
Inventory	$404
Net fixed assets	$2,751
Total assets	$8,985
Accounts payable	$440
Accrued expenses	$456
Long-term debt	$1,218
Total liabilities	$4,734
Cash flow from operations	$2,983

Question 6

Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for long-term debt? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.

Sales	$17,967
Cost of goods sold	$6,113
Salaries expense	$3,300
Tax expense	$1,326
Net income	$1,049
Cash	$126
Accounts receivable	$521
Inventory	$315
Net fixed assets	$2,691
Total assets	$7,128
Accounts payable	$367
Accrued expenses	$259
Long-term debt	$1,078
Total liabilities	$4,083
Cash flow from operations	$3,036

Question 7

At the beginning of the year, Execon Company had total assets of $200,000, total liabilities of $110,000, and total shareholders' equity of $90,000m which included retained earnings of $68,970. For the year, Execon Company earned net income of $77,375, and at the end of the year it reported total assets of $270,466 and retained earnings of $101,254. For the year, how much did Execon pay in cash dividends?

Question 8

Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized balance sheet, what would be the amount (i.e., percentage) shown for accounts receivable? Present your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.

Sales	$15,464
Cost of goods sold	$11,984
Salaries expense	$3,695
Tax expense	$1,849
Net income	$1,305
Cash	$120
Accounts receivable	$414
Inventory	$384
Net fixed assets	$2,204
Total assets	$8,452
Accounts payable	$343
Accrued expenses	$241
Long-term debt	$1,414
Total liabilities	$4,477
Cash flow from operations	$2,995

Question 9

Selected data from the 2017 financial statements of KRJ Manufacturing are presented below. On the company's common-sized income statement, what would be the amount (i.e., percentage) shown for salaries expense? Presenting your answer in percentage terms, rounded to one decimal place. e.g. 20.0%.

Sales	$103,546
Cost of goods sold	$57,482
Salaries expense	$7,325
Tax expense	$6,614
Net income	$18,203
Total liabilities	$21,571
Total assets	$58,947
Cash flow from operations	$25,392

Question 10

In 2017 KRJ International reported earnings before taxes of $100,000 and tax expense of $32,000, leaving net income of $68,000. During the year it sold a warehouse with a net book value of $13,492 for $20,232; the resulting gain or loss on the sale was included in the calculation of earnings before taxes. Recalculate the company's net income with the unusual gain or loss removed.

Reference no: EM131834624

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