Top Research Professionals
The research experts and assignment help team consists exclusively of highly qualified graduate writers, each professional with in-depth subject matter expertise and significant experience in custom academic writing.
Boost Your Final Grades By Ordering Custom Writing Help!
For similar papers and sample answers; with a few clicks, Order your research paper, thesis, dissertation writing and other assignment help services
Posted: April 20th, 2022
Need accounting help with Internal Control and Cash
Question description
P13-2AThe comparative statements of Osborne Company are presented here.Compute ratios from balance sheets and income statements. OSBORNE COMPANY Income Statements For the Years Ended December 31 2014 2013 Net sales $1,890,540 $1,750,500 Cost of goods sold 1,058,540 1,006,000 Gross profit 832,000 744,500 Selling and administrative expenses 500,000 479,000 Income from operations 332,000 265,500 Other expenses and losses Interest expense 22,000 20,000 Income before income taxes 310,000 245,500 Income tax expense 92,000 73,000 Net income $ 218,000 $ 172,500 OSBORNE COMPANY Balance Sheets December 31 Assets 2014 2013 Current assets Cash $ 60,100 $ 64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 117,800 102,800 Inventory 126,000 115,500 Total current assets 377,900 332,500 Plant assets (net) 649,000 520,300 Total assets $1,026,900 $852,800 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $ 160,000 $145,400 Income taxes payable 43,500 42,000 Total current liabilities 203,500 187,400 Bonds payable 220,000 200,000 Total liabilities 423,500 387,400 Stockholders’ equity Common stock ($5 par) 290,000 300,000 Retained earnings 313,400 165,400 Total stockholders’ equity 603,400 465,400 Total liabilities and stockholders’ equity $1,026,900 $852,800 All sales were on account. Net cash provided by operating activities for 2014 was $220,000. Capital expenditures were$136,000, and cash dividends were $70,000.Instructions Compute the following ratios for 2014.(a) Earnings per share. (b) Return on common stockholders’ equity. (c) Return on assets. (d) Current ratio. (e) Accounts receivable turnover. (f) Average collection period. (g) Inventory turnover. (h) Days in inventory. (i) Times interest earned. (j) Asset turnover. (k) Debt to assets. (l) Current cash debt coverage. (m) Cash debt coverage. (n) Free cash flow
Study Notes, Research Topics & Assignment Examples: Next Post »Bill Gates’ contribution to computingWhy Choose our Custom Writing Services
We prioritize delivering top quality work sought by college students.
Discounted Pricing
Our custom writing services maintain the highest quality while remaining affordable for students. Our pricing for research papers, theses, and dissertations is not only fair considering the superior quality but also competitive with other writing services.
0% Similarity Index
We guarantee plagiarism-free, human-written content. Every product is assured to be original and not AI-generated. Our writers, tutors and editors are research experts who ensures the right formating and citation sytles are followed. To note, all the final drafts undergo rigorous plagiarism checks before delivery for submission to ensure authenticity for our valued customers.
How it works
When you decide to place an order with Dissertation Help, here is what happens: