ACCT 503 Week 7 Practice Exercise (E13-15A, E13-16A E13-18A, E13-21A, E13-22A, E13-23A, E13-24A)(Syllabus, 2019)

ACCT 503 Week 7 Practice Exercise (E13-15A, E13-16A E13-18A, E13-21A, E13-22A, E13-23A, E13-24A)(Syllabus, 2019)

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Attachments: ACCT 503 Week 7 Practice Exercise.docx [ Preview Here ]

E13-15A

Consider the following for Winding Lane Lodge:

 

Requirement

 

E13-16A

The comparative income statements of McMahon Music Co. follow:

 

 

1.         Prepare a horizontal analysis of the comparative income statements of McMahon Music Co.

Round percentage changes to the nearest one-tenth percent.

 

 

E13-18A

Beta Golf Company's balance sheet at December 31, 2016 is as follows:

 

 

Requirement

 

 

E13-21A

Requirement 1. Compute the following ratios for 2016 and 2015.

a. Current ratio.

Select the formula and then enter the amounts to calculate the current ratio. (Round the ratios to two decimal places.)

 

b. Quick (acid-test) ratio.

Select the formula and then enter the amounts to calculate the acid-test ratio. (Abbreviations used: Avg = average, ST = short-term, and Cash* = cash and cash equivalents. Round the ratios to two decimal places.)

 

 

 

 

 

e. Days' sales in average receivables or days' sales outstanding (DSO).

Select the formula and then enter the amounts to calculate days' sales in average receivables or days' sales outstanding

(DSO).

(Enter ratios to two decimal places and use a 365-day year. Round your final answers to the nearest whole number.)

 

f. Accounts payable turnover and days' payable outstanding (DPO). Use cost of goods sold in the formula for accounts payable turnover.

Begin by selecting the formula and then enter the amounts to calculate accounts payable turnover. (Round the ratios to two decimal places.)

 

Now, select the formula and then enter the amounts to calculate days' payable outstanding (DPO). (Enter ratios to two decimal places and use a 365-day year. Round your final answers to the nearest whole number.)

 

 g. Cash conversion cycle (in days). (Abbreviations used: Avg = average and ST = short-term.)\

 

 

 

 

 

E13-22A

 

Pare Furniture Company has requested that you determine whether the company's ability to pay its current liabilities and long-term debts improved or deteriorated during 2016.

 

 

c. Quick (acid-test) ratio.  Select the formula and then enter the amounts to calculate the quick (acid-test) ratio for 2016 and  2015.

 

d. Debt ratio.Select the formula and then enter the amounts to calculate the debt ratio for 2016

and 2015.

 

e. Times-interest-earned ratio. Select the formula and then enter the amounts to calculate the times-interest-earned ratio for 2016 and 2015.

 

Summarize the results of your analysis.

 

 

 

E13-23A

 

The comparative income statements for Cavalier Decor, Inc. follow

Requirement

1.         For 2016 and 2015,  compute return on sales (ROS), asset turnover (AT), return on assets (ROA), leverage (L), return on common stockholders' equity (ROE), gross profit percentage (GP), operating income percentage (OI), and earnings per share (EPS) to measure the ability to earn profits for Cavalier Decor, Inc. Use DuPont Analysis for ROA and ROE, and round each component ratio to three decimals; for other ratiocomputations, round to two decimals .Did the company's operating performance improve or deteriorate during 2016?

 

 

 

 

E13-24A

 

Consider the following financial information of Tristan Distributing Company:

 

Requirement

 

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