Accrued taxes and expenses payable 42000 long-term debt


Question - The following information pertains to Walrus Inc.

Cash $60,000

Accounts receivable 170,000

Inventory 100,000

Plant assets (net) 430,000

Total assets $760,000

Accounts payable $110,000

Accrued taxes and expenses payable 42,000

Long-term debt 120,000

Common stock ($10 par) 260,000

Paid-in capital in excess of par 50,000

Retained earnings 330,000

Total equities $760,000

Net sales (all on credit) $2,000,000

Cost of goods sold 1,400,000

Net income 120,000

Required: Compute the following:

(a) Current ratio

(b) Inventory turnover

(c) Receivables turnover

(d) Book value per share

(e) Earnings per share

(f) Debt to total assets

(g) Profit margin on sales

(h) Return on common stock equity

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Accounting Basics: Accrued taxes and expenses payable 42000 long-term debt
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