Accounting quiz homework
ldprhm
week_3_quiz.docx1. Calculate the profit margin ratio based on the following information:
CASH: $14,870
ACCOUNTS RECEIVABLE: $22,108
PREPAID $3,010
SUPPLIES: $927
EQUIPMENT: $62,150
ACCUMULATED DEPRECIATION: $13,750
ACCOUNTS PAYABLE $28,000
NET SALES: $325,000
INTEREST EXPENSE: $6,000
TAX EXPENSE: $12,600
EARNINGS BEFORE INTEREST AND TAXES: $122,623
NUMBER OF SHARES OUTSTANDING 335,000
Round to two decimals
2. Calculate the DEBT TO EQUITY ratio based on the following information:
CASH: 14,870
ACCOUNTS RECEIVABLE: $22,108
PREPAID: $3010
SUPPLIES: $927
EQUIPMENT: $62,150
ACCUMULATED DEPRECIATION: $13,750
ACCOUNTS PAYABLE: $28,000
3. CALCULATE THE EQUITY RATIOI BASED ON THE FOLLOWING INFORMATION
CASH: 14,870
ACCOUNTS RECEIVABLE: $22,108
PREPAID: $3010
SUPPLIES: $927
EQUIPMENT: $62,150
ACCUMULATED DEPRECIATION: $13,750
ACCOUNTS PAYABLE: $28,000
4. Calculate the times interest earned ratio based on the following information:
CASH: $14,870
ACCOUNTS RECEIVABLE: $22,108
PREPAID $3,010
SUPPLIES: $927
EQUIPMENT: $62,150
ACCUMULATED DEPRECIATION: $13,750
ACCOUNTS PAYABLE $28,000
NET SALES: $325,000
INTEREST EXPENSE: $6,000
TAX EXPENSE: $12,600
EARNINGS BEFORE INTEREST AND TAXES: $122,623
NUMBER OF SHARES OUTSTANDING 335,000
Round to two decimals
5. Calculate the working capital ratio based on the following information:
CASH: 14,870
ACCOUNTS RECEIVABLE: $22,108
PREPAID: $3010
SUPPLIES: $927
EQUIPMENT: $62,150
ACCUMULATED DEPRECIATION: $13,750
ACCOUNTS PAYABLE: $28,000
6. Calculate the times interest and earned ratio based on the following information: round to two decimals and assume this is the first year of operation.
CASH: $14,870
ACCOUNTS RECEIVABLE: $22,108
PREPAID $3,010
SUPPLIES: $927
EQUIPMENT: $62,150
ACCUMULATED DEPRECIATION: $13,750
ACCOUNTS PAYABLE $28,000
NET SALES: $325,000
INTEREST EXPENSE: $6,000
TAX EXPENSE: $12,600
EARNINGS BEFORE INTEREST AND TAXES: $122,623
NUMBER OF SHARES OUTSTANDING 335,000
7. Calculate the return on total assets ratio based on the following information. Assume this is the first year of operation.
CASH: $14,870
ACCOUNTS RECEIVABLE: $22,108
PREPAID $3,010
SUPPLIES: $927
EQUIPMENT: $62,150
ACCUMULATED DEPRECIATION: $13,750
ACCOUNTS PAYABLE $28,000
NET SALES: $325,000
INTEREST EXPENSE: $6,000
TAX EXPENSE: $12,600
EARNINGS BEFORE INTEREST AND TAXES: $122,623
NUMBER OF SHARES OUTSTANDING 335,000
8. Calculate the debt ratio based on the following information:
CASH: 14,870
ACCOUNTS RECEIVABLE: $22,108
PREPAID: $3010
SUPPLIES: $927
EQUIPMENT: $62,150
ACCUMULATED DEPRECIATION: $13,750
ACCOUNTS PAYABLE: $28,000
9. Calculate the quick ratio based on the following information:
CASH: 14,870
ACCOUNTS RECEIVABLE: $22,108
PREPAID: $3010
SUPPLIES: $927
EQUIPMENT: $62,150
ACCUMULATED DEPRECIATION: $13,750
ACCOUNTS PAYABLE: $28,000
10. Calculate the current ratio based on the following information:
CASH: 14,870
ACCOUNTS RECEIVABLE: $22,108
PREPAID: $3010
SUPPLIES: $927
EQUIPMENT: $62,150
ACCUMULATED DEPRECIATION: $13,750
ACCOUNTS PAYABLE: $28,000
