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Which company deserves increased investment based on a joint analysis of return on assets and the debt ratio? Explain.
During the year, Lyle Co. recorded prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts.
On September 1, the company rented space to another tenant for $525 per month. The tenant paid five months' rent in advance on that date.
Calculate the current ratio of the separate cases. Identify the company case with the strongest liquidity position.
Prepare adjusting entries that the company must record for these events as of October 31.
After closing the revenue and expense accounts, what will be the balance of the Income Summary account?
Comment on any change from the prior year to the current year for the current ratio.
Explain why use of the perpetual inventory system has dramatically increased.
What is the difference between a sales discount and a purchase discount?
eturned 50 defective units from the March 5 purchase and received full credit.
Yang Company reported net income of $37,925 and net sales of $390,000 for the current year. Calculate the company's profit margin and interpret the result.
The Office Supplies account had a $480 debit balance on December 31, 2010. During 2011, $5,349 of office supplies are purchased.
Which of the five companies is the most profitable according to the profit margin ratio? Interpret that company's profit margin ratio.
Compute profit margins for Research In Motion and Apple for the two years of data shown.
Recreate the journal entry that MicroDex made when it sold the stock to Greenco. How much gain was recognized on the sale of the stock?
Describe the payroll cycle including risks, source documents, and controls.
How can the future value of an annuity be increased? Use an example to explain how this might be of value for an investor or an individual?
Identify the appropriate fund to account for construction-type special assessments.
Evaluating the Purchase of an Asset with Various Capital Budgeting Methods
Assume that Tipton's wallpaper inventory at the time of the closure decision amounted to $23,700.
Identify at least two issues that Susie and Katie should consider when trying to decide on the method for financing their expansion.
Compute Langely's debt ratio and its return on assets. Assume average assets equal its ending balance.
ECRI is considering a change in its strategic focus; it will reduce its reliance on the electric utility subsidiary, so the percentage of its capital.
Why is it is essential for organizations to keep cash reserves on hands?
What considerations might you have when deciding which company is the best investment?