Exam 13: Analyzing and Interpreting Financial Statements

A company has a current ratio of 1.92,total liabilities of $193,849,long-term notes payable of $85,791,and a quick ratio of 0.96.What are total current assets for the company?

A company's balance sheet and income statement accounts follow: -What is the company's times interest earned ratio for 2013?

The average number of times a company's inventory is sold during an accounting period,calculated by dividing cost of goods sold by the average inventory balance,is equal to the:

A company had a return on common stockholders' equity of 25%.Net income equaled $200,000 and average common stockholders' equity equaled $700,000.Compute the amount of the preferred dividends declared.

A company can change from one acceptable accounting principle to another as long as the change improves the usefulness of information in its financial statements.

The dollar change for a financial statement item is calculated by:

A company has a current ratio of 1.92,total liabilities of $193,849,long-term notes payable of $85,791,and a quick ratio of 0.96.What are total quick assets for the company?

A company can change from one acceptable accounting principle to another as long as the change __________________________________________ in its financial statements.

Liquidity refers to the availability of resources to meet short-term cash requirements.

Corona Company's balance sheet accounts follow: -What is Corona Company's days' sales in inventory ratio for 2014,assuming net sales and gross profit for the period were $1,236,783,and $927,587 respectively?

In which comparative financial statements is each amount expressed as a percentage of a base amount?

Dividing accounts receivable by net sales and multiplying the result by 365 is equal to the:

One of several ratios that reflects solvency includes the:

Given the following information about a corporation's current year activities,answer the questions below: Compute the amounts that should be reported on the income statement as: (1) Income from continuing operations. (2) Income before extraordinary items and cumulative effect of changes in accounting principles. (3) Net income.

Financial reporting refers to:

The 2014 income statement for Golden Company is shown below: Calculate the times interest earned ratio for 2014.

Net sales divided by average total assets is equal to the:

Describe the purpose of vertical financial statement analysis and how it is applied.

The following selected company information was reported: Calculate the following company ratios: (a) Accounts receivable turnover (b) Inventory turnover (c) Days' sales uncollected