Exam 13: Analyzing and Interpreting Financial Statements

The percent change of a comparative financial statement item is computed by subtracting the analysis period amount from the base period amount, dividing the result by the base period amount and multiplying that result by 100.

(True/False)

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Question 141

Washburn Company reported cost of goods sold of $977,000 for Year 1 and $953,000 for Year 2. Using Year 1 as the base year, what was the percentage change for cost of goods sold from Year 1 to Year 2?

(Multiple Choice)

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Question 142

A common focus of financial statement users in evaluating a company's performance and financial condition includes evaluating its (1) , (2) , and (3) ___.

(Essay)

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Question 143

The current year-end balance sheet data for a company are shown below. Calculate the company's: (a) working capital (b) current ratio (c) acid-test ratio.

(Essay)

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Question 144

Refer to the following selected financial information from McCormik, LLC. Compute the company's days' sales uncollected for Year 2.

(Multiple Choice)

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Question 145

Refer to the following selected financial information from Shakley's Incorporated. Compute the company's profit margin for Year 2.

(Multiple Choice)

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Question 146

Use the balance sheets of Plover Company shown below to calculate the following ratios for 2017 (round to the hundredths): (a) Current ratio. (b) Acid-test ratio. (c) Debt ratio. (d) Equity ratio.

(Essay)

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Question 147

Trend analysis of financial statement items can include comparisons of relations between items on different financial statements.

(True/False)

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Question 148

A company had a market price of $27.50 per share, earnings per share of $1.25, and dividends per share of $0.40. Its price-earnings ratio equals:

(Multiple Choice)

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Question 149

_______________ financial statements are reports where financial amounts are placed side-by-side in columns on a single statement for analytical purposes.

(Short Answer)

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Question 150

The comparison of a company's financial condition and performance to a base amount is known as _________________.

(Short Answer)

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Question 151

Calculate the percent increases for each of the following selected balance sheet items.

(Essay)

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Question 152

The following information is available for the Starr Corporation: Calculate the company's inventory turnover and its days' sales in inventory.

(Essay)

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Question 153

Net sales divided by Average accounts receivable, net is the:

(Multiple Choice)

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Question 154

The ability to meet short-term obligations and to efficiently generate revenues is called:

(Multiple Choice)

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Question 155

Hollander Company reported Net Sales of $1,375,000, beginning Accounts Receivable of $67,200 and ending Accounts Receivable of $72,300. Average Accounts Receivable is:

(Multiple Choice)

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Question 156

Carducci Corporation reported Net Sales of $3.6 million and average Total Assets of $1.1 million. The total asset turnover is:

(Multiple Choice)

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Question 157

If a company is comparing its financial condition or performance to a base amount, it is using vertical analysis.

(True/False)

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Question 158

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

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Question 159

A company's sales in Year 1 were $250,000 and in Year 2 were $287,500. Using Year 1 as the base year, the percent change for Year 2 compared to the base year is:

(Multiple Choice)

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Question 160

Showing 141 - 160 of 223

The percent change of a comparative financial statement item is computed by subtracting the analysis period amount from the base period amount, dividing the result by the base period amount and multiplying that result by 100.

Washburn Company reported cost of goods sold of $977,000 for Year 1 and $953,000 for Year 2. Using Year 1 as the base year, what was the percentage change for cost of goods sold from Year 1 to Year 2?

A common focus of financial statement users in evaluating a company's performance and financial condition includes evaluating its (1) , (2) , and (3) ___.

The current year-end balance sheet data for a company are shown below. Calculate the company's: (a) working capital (b) current ratio (c) acid-test ratio.

Refer to the following selected financial information from McCormik, LLC. Compute the company's days' sales uncollected for Year 2.

Refer to the following selected financial information from Shakley's Incorporated. Compute the company's profit margin for Year 2.

Use the balance sheets of Plover Company shown below to calculate the following ratios for 2017 (round to the hundredths): (a) Current ratio. (b) Acid-test ratio. (c) Debt ratio. (d) Equity ratio.

Trend analysis of financial statement items can include comparisons of relations between items on different financial statements.

A company had a market price of $27.50 per share, earnings per share of $1.25, and dividends per share of $0.40. Its price-earnings ratio equals:

_______________ financial statements are reports where financial amounts are placed side-by-side in columns on a single statement for analytical purposes.

The comparison of a company's financial condition and performance to a base amount is known as _________________.

Calculate the percent increases for each of the following selected balance sheet items.

The following information is available for the Starr Corporation: Calculate the company's inventory turnover and its days' sales in inventory.

Net sales divided by Average accounts receivable, net is the:

The ability to meet short-term obligations and to efficiently generate revenues is called:

Hollander Company reported Net Sales of $1,375,000, beginning Accounts Receivable of $67,200 and ending Accounts Receivable of $72,300. Average Accounts Receivable is:

Carducci Corporation reported Net Sales of $3.6 million and average Total Assets of $1.1 million. The total asset turnover is:

If a company is comparing its financial condition or performance to a base amount, it is using vertical analysis.

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

A company's sales in Year 1 were $250,000 and in Year 2 were $287,500. Using Year 1 as the base year, the percent change for Year 2 compared to the base year is:

Introducing Financial Accounting

Accounting System and Financial Statements

Adjusting Accounts for Financial Statements

Reporting and Analyzing Merchandising Operations

Reporting and Analyzing Inventories

Reporting and Analyzing Cash and Internal Controls

Reporting and Analyzing Receivables

Reporting and Analyzing Long-Term Assets

Reporting and Analyzing Current Liabilities

Reporting and Analyzing Long-Term Liabilities

Reporting and Analyzing Equity

Reporting and Analyzing Cash Flows

Applying Present and Future Values

Investments and International Operations

Reporting and Analyzing Partnerships

Filters

Exam 13: Analyzing and Interpreting Financial Statements

The percent change of a comparative financial statement item is computed by subtracting the analysis period amount from the base period amount, dividing the result by the base period amount and multiplying that result by 100.

Washburn Company reported cost of goods sold of $977,000 for Year 1 and $953,000 for Year 2. Using Year 1 as the base year, what was the percentage change for cost of goods sold from Year 1 to Year 2?

A common focus of financial statement users in evaluating a company's performance and financial condition includes evaluating its (1) __________________, (2) ______________, and (3) ___________________.

The current year-end balance sheet data for a company are shown below. Calculate the company's: (a) working capital (b) current ratio (c) acid-test ratio.

Refer to the following selected financial information from McCormik, LLC. Compute the company's days' sales uncollected for Year 2.

Refer to the following selected financial information from Shakley's Incorporated. Compute the company's profit margin for Year 2.

Use the balance sheets of Plover Company shown below to calculate the following ratios for 2017 (round to the hundredths): (a) Current ratio. (b) Acid-test ratio. (c) Debt ratio. (d) Equity ratio.

Trend analysis of financial statement items can include comparisons of relations between items on different financial statements.

A company had a market price of $27.50 per share, earnings per share of $1.25, and dividends per share of $0.40. Its price-earnings ratio equals:

_______________ financial statements are reports where financial amounts are placed side-by-side in columns on a single statement for analytical purposes.

The comparison of a company's financial condition and performance to a base amount is known as _________________.

Calculate the percent increases for each of the following selected balance sheet items.

The following information is available for the Starr Corporation: Calculate the company's inventory turnover and its days' sales in inventory.

Net sales divided by Average accounts receivable, net is the:

The ability to meet short-term obligations and to efficiently generate revenues is called:

Hollander Company reported Net Sales of $1,375,000, beginning Accounts Receivable of $67,200 and ending Accounts Receivable of $72,300. Average Accounts Receivable is:

Carducci Corporation reported Net Sales of $3.6 million and average Total Assets of $1.1 million. The total asset turnover is:

If a company is comparing its financial condition or performance to a base amount, it is using vertical analysis.

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

A company's sales in Year 1 were $250,000 and in Year 2 were $287,500. Using Year 1 as the base year, the percent change for Year 2 compared to the base year is:

Introducing Financial Accounting

Accounting System and Financial Statements

Adjusting Accounts for Financial Statements

Reporting and Analyzing Merchandising Operations

Reporting and Analyzing Inventories

Reporting and Analyzing Cash and Internal Controls

Reporting and Analyzing Receivables

Reporting and Analyzing Long-Term Assets

Reporting and Analyzing Current Liabilities

Reporting and Analyzing Long-Term Liabilities

Reporting and Analyzing Equity

Reporting and Analyzing Cash Flows

Applying Present and Future Values

Investments and International Operations

Reporting and Analyzing Partnerships

Filters

A common focus of financial statement users in evaluating a company's performance and financial condition includes evaluating its (1) , (2) , and (3) ___.