Questions from General Accounting

Q: Manuel, Inc. reported net income of $2.5

Manuel, Inc. reported net income of $2.5 million in 2014. Depreciation for the year was $160,000, accounts receivable decreased $350,000, and accounts payable decreased $280,000. Compute net cash prov...

Q: Shown below and on the next page are comparative balance sheets for

Shown below and on the next page are comparative balance sheets for Schmitt Company. Additional information: 1. Net income for 2014 was $93,000. 2. Depreciation expense was $34,000. 3. Cash dividend...

Q: Suppose presented below is 2014 information for PepsiCo, Inc. and

Suppose presented below is 2014 information for PepsiCo, Inc. and The Coca-Cola Company. Instructions: Using the cash-based measures presented in this chapter, compare the (a) liquidity and (b) solv...

Q: Information for two companies in the same industry, Patton Corporation and

Information for two companies in the same industry, Patton Corporation and Sager Corporation, is presented here. Instructions: Using the cash-based measures presented in this chapter, compare the (a...

Q: Suppose selected comparative statement data for the giant bookseller Barnes & Noble

Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). Instructions: C...

Q: Santo Corporation experienced a fire on December 31, 2014 in which

Santo Corporation experienced a fire on December 31, 2014 in which its financial records were partially destroyed. It has been able to salvage some of the records and has ascertained the following bal...

Q: The condensed financial statements of Elliott Company for the years 2013 and

The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below. Compute the following ratios for 2014 and 2013. (a) Current ratio. (b) Inventory turnover. (Inv...

Q: The Wall Street Journal routinely publishes summaries of corporate quarterly and vannual

The Wall Street Journal routinely publishes summaries of corporate quarterly and vannual earnings reports in a feature called the “Earnings Digest.” A typical &acir...

Q: Here is financial information for Spangles Inc. /

Here is financial information for Spangles Inc. Instructions: Prepare a schedule showing a horizontal analysis for 2014, using 2013 as the base year.

Q: Operating data for Jacobs Corporation are presented below. /

Operating data for Jacobs Corporation are presented below. Instructions: Prepare a schedule showing a vertical analysis for 2014 and 2013.