15 May QuestionManagerial Accounting 1BFinancial and Managerial Accounting
Question
Managerial Accounting 1B
Financial and Managerial Accounting
Chapter 13
1.
Exercise 13-3 Computation and analysis of trend percents L.O. P1
| 2013 | 2012 | 2011 | 2010 | 2009 | |
| Sales | $ 283,880 | $ 271,800 | $ 253,680 | $ 235,560 | $ 151,000 |
| Cost of goods sold | 129,200 | 123,080 | 116,280 | 107,440 | 68,000 |
| Accounts receivable | 19,100 | 18,300 | 17,400 | 16,200 | 10,000 |
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| Compute trend percents for the above accounts, using 2009 as the base year. (Omit the “%” sign in your response.) |
2.
Exercise 13-7 Common-size percents L.O. P2
| Sanderson Company’s year-end balance sheets follow. |
| Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final answers to 1 decimal place. Omit the “%” sign in your response.) |
Exercise 13-9 Liquidity analysis and interpretation L.O. P3
[The following information applies to the questions displayed below.]
| Sanderson Company’s year-end balance sheets follow. |
| The company’s income statements for the years ended December 31, 2012 and 2011, follow. Assume that all sales are on credit: |
| Section Break | Exercise 13-9 Liquidity analysis and interpretation L.O. P3 |
3.
Exercise 13-9 Part 1
| (1) | Compute days’ sales uncollected.(Use 365 days a year. Do not round intermediate calculations and roundyour final answers to the nearest whole number.) |
4.
Exercise 13-9 Part 2
| (2) | Compute accounts receivable turnover.(Round your answers to 1 decimal place.) |
| 2012 | |
| 2011 | |
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5.Exercise 13-9 Part 3
| (3) | Compute inventory turnover.(Round your answers to 1 decimal place.) |
6.Exercise 13-9 Part 4
| (4) | Compute days’ sales in inventory.(Use 365 days a year. Do not round intermediate calculations and round your final answers to the nearest whole number.) |
| 2012 | |
| 2011 | |
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Problem 13-1A Ratios, common-size statements, and trend percents L.O. P1, P2, P3
[The following information applies to the questions displayed below.]
| Selected comparative financial statements of Bennington Company follow: |
7.Problem 13-1A Part 1
| Required: | |
| 1. | Compute each year’s current ratio.(Round your answers to 1 decimal place.) |
| Current ratio | December 31, 2012: | |||
| Current ratio | December 31, 2011: | |||
| Current ratio | December 31, 2010: | |||
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8.
Problem 13-1A Part 2
| 2. | Express the income statement data in common-size percents.(Round your answers to 2 decimal places. Omit the “%” sign in your response.) |
9. Problem 13-1A Part 3
| 3. | Express the balance sheet data in trend percents with 2010 as the base year.(Round your answers to 2 decimal places. Leave no cells blank – be certain to enter “0” wherever required. Omit the “%” sign in your response.) |
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