Questions from College Accounting

Q: Using the comparative income statement, prepare a vertical analysis of all

Using the comparative income statement, prepare a vertical analysis of all items from sales through gross profit on sales for the years shown.

Q: Calculate the current ratio for each year. /

Calculate the current ratio for each year.

Q: Using the data for the two years, calculate the inventory turnover

Using the data for the two years, calculate the inventory turnover for each year. The beginning inventory for year 2021 was $59,000.

Q: Compute the accounts receivable turnover on December 31, 2022, for

Compute the accounts receivable turnover on December 31, 2022, for ACRH, Inc. Assume that all sales were credit sales.

Q: Prepare a vertical analysis of all asset items on the comparative balance

Prepare a vertical analysis of all asset items on the comparative balance sheet for these years.

Q: Using the comparative income statement, prepare a horizontal analysis of all

Using the comparative income statement, prepare a horizontal analysis of all items on the income statement for years displayed.

Q: Prepare a horizontal analysis of all items on the comparative balance sheet

Prepare a horizontal analysis of all items on the comparative balance sheet for the years shown.

Q: Calculate the rate of net income on sales for these two years

Calculate the rate of net income on sales for these two years.

Q: Compute the rate of net income on stockholders’ equity for 2022 and

Compute the rate of net income on stockholders’ equity for 2022 and 2021. ACRH, Inc. uses the average of the beginning and ending balance for common stockholder’s e...

Q: Logistics Distribution Center receives a number of different products in its warehouse

Logistics Distribution Center receives a number of different products in its warehouse. Logistics distributes these products by truck to customers within a radius of 150 miles. The company is located...