QRB 501 WEEK 4 PROBLEM SET STUDY GUIDE
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1. Prepare a balance sheet for the nursery for December 31, 2012. The company assets include cash, $8723, Accounts Receivable, $7233, and merchandise inventory, $18,219. The liabilities include accounts payable, $10,121, wages payable, $3946. The owner’s capital is $20,108. 2. Complete the vertical analysis on the balance sheet for the nursery for 2012.
3. To find a percent of total debt compared to total assets, divide the total liabilities by the total assets and write in percent form. Find the total debt to total assets for the bakery for 2012 4. Complete the income statement for Sitha Ros’s Oriental groceries for the years 2011 and 2012. 5. Extend the income statement for miss muffin’s bakery to include a vertical analysis for 2010 and 2012. 6. What is the current ratio for Denmark, Inc., which has current assets of $168,491 and current liabilities of $112,974? 7. Company A reported net sales of $151,428 and had average total assets of $175,776. Find its asset turnover ratio. 8. Find the acid test ratio for a business if the balance sheet shows the following amounts: cash, $32,672: receivables, $13,033: marketable securities, zero dollars: current liabilities, $21,135. 9. Find the operating ratio for sol’s dry goods if the income statement for the month shows net sales, $15,500; cost of goods sold, $6500; gross profit, $7000; operating expenses, $2500; net income, $5500. Express results to the nearest 10th of a percent