Exercise 13-3 Computation and analysis of trend percents L.O. P1
| Don't use plagiarized sources. Get Your Custom Essay on managerial accounting 1b ch13 498811 For $10/Page 0nly 2013 | 2012 | 2011 | 2010 | 2009 | |
| Sales | $ 283,880 | $ 271,800 | $ 253,680 | $ 235,560 | $ 151,000 |
| Cost of goods sold | 129,200 | 123,080 | 116,280 | 107,440 | 68,000 |
| Accounts receivable | 19,100 | 18,300 | 17,400 | 16,200 | 10,000 |
| Compute trend percents for the above accounts, using 2009 as the base year. (Omit the “%” sign in your response.) |
Exercise 13-7 Common-size percents L.O. P2
| Sanderson Company s year-end balance sheets follow. |
| At December 31 | 2012 | 2011 | 2010 | |||||||
| Assets | ||||||||||
| Cash | $ | 30,800 | $ | 35,625 | $ | 36,800 | ||||
| Accounts receivable, net | 88,500 | 62,500 | 49,200 | |||||||
| Merchandise inventory | 111,500 | 82,500 | 53,000 | |||||||
| Prepaid expenses | 9,700 | 9,375 | 4,000 | |||||||
| Plant assets, net | 277,500 | 255,000 | 229,500 | |||||||
| Total assets | $ | 518,000 | $ | 445,000 | $ | 372,500 | ||||
| Liabilities and Equity | ||||||||||
| Accounts payable | $ | 128,900 | $ | 75,250 | $ | 49,250 | ||||
| Long-term notes payable secured by | 97,500 | 102,500 | 82,500 | |||||||
| Common stock, $10 par value | 162,500 | 162,500 | 162,500 | |||||||
| Retained earnings | 129,100 | 104,750 | 78,250 | |||||||
| Total liabilities and equity | $ | 518,000 | $ | 445,000 | $ | 372,500 | ||||
| Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final answers to 1 decimal place. Omit the “%” sign in your response.) |
Exercise 13-9 Liquidity analysis and interpretation L.O. P3
[The following information applies to the questions displayed below.]
| Sanderson Company s year-end balance sheets follow. |
| At December 31 | 2012 | 2011 | 2010 | |||||||
| Assets | ||||||||||
| Cash | $ | 30,800 | $ | 35,625 | $ | 36,800 | ||||
| Accounts receivable, net | 88,500 | 62,500 | 49,200 | |||||||
| Merchandise inventory | 111,500 | 82,500 | 53,000 | |||||||
| Prepaid expenses | 9,700 | 9,375 | 4,000 | |||||||
| Plant assets, net | 277,500 | 255,000 | 229,500 | |||||||
| Total assets | $ | 518,000 | $ | 445,000 | $ | 372,500 | ||||
| Liabilities and Equity | ||||||||||
| Accounts payable | $ | 128,900 | $ | 75,250 | $ | 49,250 | ||||
| Long-term notes payable secured by | 97,500 | 102,500 | 82,500 | |||||||
| Common stock, $10 par value | 162,500 | 162,500 | 162,500 | |||||||
| Retained earnings | 129,100 | 104,750 | 78,250 | |||||||
| Total liabilities and equity | $ | 518,000 | $ | 445,000 | $ | 372,500 | ||||
| The company s income statements for the years ended December 31, 2012 and 2011, follow. Assume that all sales are on credit: |
| For Year Ended December 31 | 2012 | 2011 | |||||||||
| Sales | $ | 672,500 | $ | 530,000 | |||||||
| Cost of goods sold | $ | 410,225 | $ | 344,500 | |||||||
| Other operating expenses | 208,550 | 133,980 | |||||||||
| Interest expense | 11,100 | 12,300 | |||||||||
| Income taxes | 8,525 | 7,845 | |||||||||
| Total costs and expenses | 638,400 | 498,625 | |||||||||
| Net income | $ | 34,100 | $ | 31,375 | |||||||
| Earnings per share | $ | 2.10 | $ | 1.93 | |||||||
| Section Break | Exercise 13-9 Liquidity analysis and interpretation L.O. P3 |
Exercise 13-9 Part 1
| (1) | Compute days’sales uncollected. (Use 365 days a year. Do not round intermediate calculations and roundyour final answers to the nearest whole number.) |
Exercise 13-9 Part 2
| (2) | Compute accounts receivable turnover. (Round your answers to 1 decimal place.) |
| 2012 | |
| 2011 | |
Exercise 13-9 Part 3
| (3) | Compute inventory turnover. (Round your answers to 1 decimal place.) |
Exercise 13-9 Part 4
| (4) | Compute days’ sales in inventory. (Use 365 days a year. Do not round intermediate calculations and round your final answers to the nearest whole number.) |
| 2012 | |
| 2011 | |
Problem 13-1A Ratios, common-size statements, and trend percents L.O. P1, P2, P3
[The following information applies to the questions displayed below.]
| Selected comparative financial statements of Bennington Company follow: |
| BENNINGTON COMPANY | ||||||||||||
| Comparative Income Statements | ||||||||||||
| For Years Ended December 31, 2012, 2011, and 2010 | ||||||||||||
| 2012 | 2011 | 2010 | ||||||||||
| Sales | $ | 444,000 | $ | 340,000 | $ | 236,000 | ||||||
| Cost of goods sold | 267,288 | 212,500 | 151,040 | |||||||||
| Gross profit | 176,712 | 127,500 | 84,960 | |||||||||
| Selling expenses | 62,694 | 46,920 | 31,152 | |||||||||
| Administrative expenses | 40,137 | 29,920 | 19,470 | |||||||||
| Total expenses | 102,831 | 76,840 | 50,622 | |||||||||
| Income before taxes | 73,881 | 50,660 | 34,338 | |||||||||
| Income taxes | 13,764 | 10,370 | 6,962 | |||||||||
| Net income | $ | 60,117 | $ | 40,290 | $ | 27,376 | ||||||
| BENNINGTON COMPANY | ||||||||||||
| Comparative Balance Sheets | ||||||||||||
| December 31, 2012, 2011, and 2010 | ||||||||||||
| 2012 | 2011 | 2010 | ||||||||||
| Assets | ||||||||||||
| Current assets | $ | 48,480 | $ | 37,924 | $ | 50,648 | ||||||
| Long-term investments | 0 | 500 | 3,720 | |||||||||
| Plant assets, net | 90,000 | 96,000 | 57,000 | |||||||||
| Total assets | $ | 138,480 | $ | 134,424 | $ | 111,368 | ||||||
| Liabilities and Equity | ||||||||||||
| Current liabilities | $ | 20,200 | $ | 19,960 | $ | 19,480 | ||||||
| Common stock | 72,000 | 72,000 | 54,000 | |||||||||
| Other paid-in capital | 9,000 | 9,000 | 6,000 | |||||||||
| Retained earnings | 37,280 | 33,464 | 31,888 | |||||||||
| Total liabilities and equity | $ | 138,480 | $ | 134,424 | $ | 111,368 | ||||||
Problem 13-1A Part 1
| Required: | |
| Compute each year’s current ratio. (Round your answers to 1 decimal place.) | |
| Current ratio | December 31, 2012: | |||
| Current ratio | December 31, 2011: | |||
| Current ratio | December 31, 2010: | |||
Problem 13-1A Part 2
| Express the income statement data in common-size percents. (Round your answers to 2 decimal places. Omit the “%” sign in your response.) |
Problem 13-1A Part 3
| Express the balance sheet data in trend percents with 2010 as the base year. (Round your answers to 2 decimal places. Leave no cells blank – be certain to enter “0” wherever required. Omit the “%” sign in your response.) |
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