Buy Solved ACCT 212 Week 8 Homework Assignment (Collection)

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ACCT 212 Week 8 Homework Assignment (Summer 2021)

1. Question: 

Required information
[The following information applies to the questions displayed below.]
The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below.
Required:
Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.)

2. Question: 

Required information
[The following information applies to the questions displayed below.]
The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below.
Prepare a horizontal analysis for 2022 using 2021 as the base year. (Note: If the percentage increase or
decrease cannot be calculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)

3. Question: The 2021 income statement of Adrian Express reports sales of $18,957,000, a cost of goods sold of $11,971,500, and a net income of $1,690,000. Balance sheet information is provided in the following table.

Required:
1. Calculate the four risk ratios listed above for Adrian Express in 2021. (Use 365 days a year. Round your answers to 1 decimal place.)
2. Do you think the company is riskier or less risky than the industry average?

4. Question: The 2021 income statement of Adrian Express reports sales of $19,710,000, the cost of goods sold of $12,350,000, and net income of $1,780,000. Balance sheet information is provided in the following table.

Required:
1. Calculate the five profitability ratios listed above for Adrian Express. (Round your answers to 1 decimal place.)
2. Do you think the company is more profitable or less profitable than the industry average?

5. Question: The following condensed information is reported by Sporting Collectibles.

Required:
1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.)
2. Determine the number of dividends paid to shareholders in 2021.

6. Question: The following income statement and balance sheets for Virtual Gaming Systems are provided.

Required:
Assuming that all sales were on account, calculate the following risk ratios for 2021. (Use 365 days a year. Round your final answers to 1 decimal place.)


ACCT 212 Week 8 Homework Assignment (Summer 2020)

1. Question: The comparative income statements of Outdoor Music Co. follow: Calculate the change in the income statement amounts from 2017 to 2018. (Use a minus sign or parentheses for a)

  • Compute the dollar amount of change from one period(the base period) to the next.
  • Divide the dollar amount of change by the base period (Use a minus sign or parentheses for a decrease. Round percentage changes to the nearest one-tenth percent, X.X%.)

2. Question: Drive Golf Company’s balance sheet on December 31, 2018is as follows:

  • Perform a vertical analysis of Drive Golf  Company’s balance sheet to determine the component percentages of its assets, liabilities, and stockholders’ equity. (Round the percentages to the nearest hundredth percent, X.XX%.)
  • Now, using the formula from above, complete the vertical analysis of the company’s remaining balance sheet accounts. The total current asset percentage that we calculated above has been entered for you. (Round the percentages to the nearest hundredth percent, XX%.)

3. Question: The financial statements of Family News, Inc., include the following items:

  • Calculate the Current ratio. (Round the ratio to two decimals)
  • Calculate the Quick (acid-test) ratio
  • Calculate the Inventory turnover. (Round the ratios to two decimals)
  • Calculate the day’s inventory outstanding(DIO). (Round the ratios to two decimals)
  • Calculate the accounts receivable turnover. (Round the ratios to two decimals)
  • Calculate the (DSO). (Round your answers to one decimal place, X.)
  • Calculate the Accounts payable turnover.
  • Calculate the Days payable outstanding (DPO). (Round to one decimal place, X.)
  • Calculate the cash conversion cycle(in days).
  • As a manager of this company, what would you try to improve next year?

4. Question: Company has asked you to determine whether the company’s ability to pay its current liabilities and long-term debts improved or deteriorated during 2018.

  • Calculate the company’s 2018 and 2017 net working capital.
  • Calculate the company’s 2018 and 2017 Current ratios. (Round the ratios to two decimal places, XX.)
  • Calculate the company’s 2018 and 2017 quick(acid-test)  (Cash* = cash and cash equivalents. Round the ratios to two decimal places, X.XX.)
  • Calculate the company’s 2018 and 2017 debt ratios. (Round the ratios to two decimal places, XX.)
  • Calculate the company’s 2018 and 2017 Times-interest-earned (Round the ratios to one decimal place, X.X.)
  • Summarize the results of your analysis.

5. Question: The comparative income statements and additional data for Harmon Decor, Inc., follow:

  • Calculate the return on sales for 2018 and 2017. (Round your answers to three decimal places, X.XXX, and do not enter in a percentage format. Ignore interest expense in your analysis.)
  • Calculate asset turnover for 2018 and 2017.
  • Calculate ROA for 2018 and 2017. (Round your answers to three decimal places, X.XXX, and do not enter in a percentage format.)
  • Calculate the leverage ratio for 2018 and 2017. (Round your answers to three decimal places, X.XXX, and do not enter in a percentage format.)
  • Calculate ROE for 2018 and 2017. (Round your answers to three decimal places, XXX, and do not enter in a percentage format.)
  • Compute the gross profit percentage for 2018 and 2017. (Round your answers to two decimal places, X.XX, and do not enter in a percentage format.)
  • Compute the operating income percentage for 2018 and 2017. (Round your answers to two decimal places, X.XX, and do not enter in a percentage format.).
  • Calculate earnings per share for 2018 and 2017. (Abbreviation used: Avg. = average.
  • Did the company’s operating performance improve or deteriorate during 2018?

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