P10-22

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notes on P 9-23

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P09-23

Student Name:
Class:
Problem 09-23
BERNARD COMPANY
2012 2011
a. Working capital
x: Enter appropriate data in yellow cells. Your answers will be verified. HINT: Use the ROUND function to the proper number of decimal places.		 96,000
Correct!
b. Current ratio 1.79
Correct!
c. Quick ratio 0.53
Correct!
d. Accounts receivables turnover 4.60
Correct!
e. Average number of days to collect A/R 79
Correct!
f. Inventory turnover 0.73
Correct!
g. Average number of days to sell inventory 500
Correct!
h. Debt to assets ratio 48%
Correct!
i. Debt to equity ratio 0.97
Correct!
j. Times interest earned 7.88
Correct!
k. Plant assets to long-term debt 2.0 2.0
Correct! Correct!
l. Net margin 15.62%
Correct!
m. Asset turnover 0.41
Correct!
n. Return on investment 6.36%
Correct!
o. Return on equity 12.2%
Correct!
p. Earnings per share $ 2.96
Correct!
q. Book value per share of common stock $ 18.80
Correct!
r. Price-earnings ratio 4.0
Correct!
s. Dividend yield on common stock 4.3%
Correct!

P 10-22

MBA 560 P 10-22
Only complete parts a and c. Note: Some items are already entered on the schedule.
part a
Event Office Mfg. Common Cash
No. Cash RM Inv WIP Inv FG Inv Furn Equipt. Stock RE Rev Exp Flow
BB 660,000 189,000
1 -23,000 -23,000 -23,000 -23,000 OA
2
3
4
5
6 -90,000 90,000 -90,000 IA
7 -16,000 -16,000 -16,000 NA
8
9 20,000 -20,000
10
11
12
13
14
Total
Totals s/b 489,000 220,000 -171,000
part c
Cost of Goods Manf and Sold Income Statement
Beg RM Inv Sales
Purchases CGS
RM Avail. Gross margin
End RM Inv
RM Used S & A Exp
Labor Net Income
OH
Total manuf. Cost
Balance Sheet
Beg WIP
Total WIP Inv Assets
End WIP Inv Cash
Cost of goods manf. RM Inv.
WIP Inv.
Beg FG Inv FG Inv.
Goods Avail.
End FG Inv. Manf. Eq
Cost of Goods Sold s/b 220,000 Office Eq.
Total Assets s/b 803,000
Liabilities 0
Stockholders' Equity
CS
RE
Total SH Equity