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The balance sheet lists:
Assets, liabilities, equity
 
The total debt to total assets of Logan Company was .71. The total of Logan's assets was $270,000. The amount of total debt is:
$191,700
 
Complete the following vertical analysis of a balance sheet
 (Round to nearest tenth percent.)
11.6%, 8.1%, 71.8%, 8.5%
 
In using horizontal analysis, comparative reports are:
Always used.
 
Which of the following is not a current asset?
Building
 
Complete the horizontal analysis below:
rev: 11_26_2018_QC_CS-149440
($3,809), 4.1%
$3,809, 4.1%
$180,485, 51.1%
$8,300, 15%
None of these
 
In analyzing the income statement of Bob Company, cost of goods sold decreased by 8.2% from 2016 to 2017.
If the cost of goods sold is $19,000 in 2017, what was it in 2016 (rounded to the nearest cent)8_03_2017_QC_CS-94986
$20,697.17
 
Given gross sales of $40,000 and sales returns and allowances of $6,000, what are the net sales?
$50,000
$46,000
$34,500
$34,000
None of these
 
The company's gross profit based on the following is sales $48,000, sales returns and allowances $6,000,
operating expenses $6,200, beginning inventory $900, net purchases $9,100, ending inventory $2,300.
$34,000
$43,000
$34,003
$34,300
None of these
 
Cost of merchandise sold equals beginning inventory:
Plus net purchases plus ending inventory
Plus net purchases minus ending inventory
Minus net purchases minus ending inventory
Minus net purchases plus ending inventory
None of these
 
Complete the current ratio for the following:
Total current assets = $12,000; current liabilities = $10,000
1.5
1.7
.7
1.2
None of these
 
Given the following:
By trend analysis (base year is 2010), sales in 2012 to the nearest percent of the base year is:
117%
116%
118%
119%
None of these
 
The asset turnover of Ryan Company is 7.2. The total assets of Ryan are $88,000. Ryan's net sales were:
$6,336
$63,360
$633,000
$633,600
None of these
 
Complete the trend analysis for sales for year 3 (Round to nearest tenth percent):
103.9%
101.4%
109.3%
110.2%
None of these
 
The acid test ratio does not include:
Cash
Accounts receivable
Supplies
Inventory
None of these
 
The asset turnover from the following is (round to nearest tenth):
1.7
1.5
1.9
1.6
None of these
 
A return on equity of 17% implies which of the following? 9459
For every 17 cents invested, a return of $1.00 results.
For every $1.00 invested, a return of 17 cents results.
For every $1.17 invested, a return of 17 cents results.
For every $10.00 invested, a return of $1.17 results.
None of the above
 

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Lee Company has a current ratio of 2.65. The acid test ratio is 2.01.
The current liabilities of Lee are $45,000. The dollar amount of merchandise inventory is
(Assume no prepaid expenses):
$28,008
$28,800
$90,450
$90,540
None of these
 
Selecting a base year and expressing each amount as a percent of the base year amount is called:
Trend analysis
Horizontal analysis
Vertical analysis
Ratio analysis
None of these
 
 
Bill's Pizza has an asset turnover of 3.5. The total assets of Bill's were $95,000. The net sales of Bill's Pizza is:
$27,142.85
$332,500.00
$271,428.50
$33,250.00
None of these
 
From 2016 to 2017, accounts receivable increased from $4,000 to $4,800. The percent increase is:
120%
162/3%
20%
55%
None of these
 
The cost of merchandise sold from the following data is as follows: sales $80,000, beginning inventory $5,000, purchases $21,800,
purchase discounts $790, ending inventory $5,100.
$21,560
$20,190
$20,910
$21,650
None of these
 
Which one is not used to calculate net sales?
Purchases
Sales discount
Sales returns and allowance
Gross sales
None of these
 
Jay Corporation has earned $175,900 after tax. The accountant calculated the return on equity as 12.5%.
Jay Corporation's stockholders' equity to the nearest dollar is:
$140,720
$14,720
$1,407,200
$140,720,000
None of these

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