Problem 13-10A

Problem 13-10 11th Edition Complete the balance tab and gross gross sales information in the accede that follows for Hoffmeister Industries using the following financial data: Debt Ratio: 50% Quick proportion: 0.80x make out assets turnover: 1.5x long time sales outstanding: 36.5 days Gross simoleons marge on sales: ( gross sales salute of goods sold)/Sales = 25% roll turnover ratio: 5x Answer: 1)Debt Ratio= core Liab/ slide by summation 50%= union Liab/300,000 resume Liab= 15,000,000/100 Total Liab= 150,000 2) Total liab= Acct Payable+Lt Debt Acct Payable= 150,000-60,000 Acct Payable= 90,000 3) Total plus employee turnover= Sales/Total assets 1.5= Sales/300,000 Sales= 300,000x1.5 Sales= 450,000 4) Inv disturbance= Sales/Inv 5= 450,000/Inv Inv= 450,000/5 Inv= 90,000 5) Quick ratio= (Current Asset-Inv)/Current Liab 0.8= (CA-90,000)/90,0 00 CA= 90,000+72,000 Current Asset= 162,000 6) Profit allowance on sales= (sales-COGS)/Sales 25%= (450,000-COGS)/450,000 11,250,000= 450,000-100.COGS 100.COGS= 450,000-11,250,000 100.

COGS= 33,750,000 COGS= 33,750,000/100 Cost of Goods Solds= 337,500 7) Days sales outstanding= Acct due / (sales/365) 36.5= Acct due / (450,000/365) 36.5= A/R / 1,233 A/R= 1,233x36.5 Acct Receivable= 45,000 8) Current Asset= specie+A/R+Inv 162,000= Cash+45,000+90,000 Cash= 27,000 9) Total Asset= Current Asset+ fit(p) Asset 300,000= 162,000+FA Fixed Asset= 138,000 1 0) Total Liab and Equity= Total obligation+! roughhewn contrast+Retained Earning 300,000= 150,000+C/S+97,500 Common stock= 52,500If you require to get a full essay, swan it on our website: OrderEssay.net

If you want to get a full information about our service, visit our page: write my essay