Acc 291 Week 4

E11-13On January 1, Armada Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 15,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30.July 10 Paid the $1 cash dividend.Dec. 1 Issued 2,000 additional shares of common stock for $19 per share.Dec. 15 Declared a cash dividend on outstanding shares of $1.20 per share to stockholders of record on December 31.

  Your answer is partially correct.  Try again.  Prepare the entries, if any, on each of the three dividend dates. DateAccount/DescriptionDebitCreditJune 15   , dividends of $. In the , dividends payable of $.  E14-1

Financial information for Blevins Inc. is presented below.

  December 31, 2012 December 31, 2011 Current assets$125,000  $100,000  Plant assets (net) 396,000  330,000  Current liabilities91,000  70,000  Long-term liabilities133,000  95,000  Common stock, $1 par161,000  115,000  Retained earnings136,000  150,000 

Complete the schedule showing a horizontal analysis for 2012 using 2011 as the base year. (If amount is a decrease, use either a negative sign preceding the number eg -45 or parentheses eg (45). Round percentages to 1 decimal place, e.g. 10.5. List items in the order given in the question.)

BLEVINS INC.Condensed Balance SheetDecember 31   Increase or (Decrease) 20122011AmountPercentageAssets    $$$[removed][removed][removed][removed]%   Total stockholders equity$[removed]$[removed]$[removed][removed]%   Total liabilities and stockholders’ equity$[removed]$[removed]$[removed][removed]%  DO IT! 14-2

The condensed financial statements of Eau Fraîche Company for the years 2010 and 2011 are presented below.

EAU FRAÎHE COMPANYBalance SheetsDecember 31 2011 2010Current assets         Cash and cash equivalents$330 $360      Accounts receivable (net)470 400      Inventories460 390      Prepaid expenses120 160         Total current assets1,380 1,310Property, plant, and equipment420 380Investments10 10Intangibles and other assets530 510         Total assets$2,340 $2,210Current liabilities$900 $790Long-term liabilities410 380Stockholders’ equity – common1,030 1,040        Total liabilities and stockholders’ equity$2,340 $2,210    EAU FRAÎHE COMPANYIncome StatementFor the Years Ended December 31 2011 2010Revenues$3,800 $3,480Costs and expenses         Cost of goods sold970 890      Selling and administrative expenses2,400 2,330      Interest expense10 20        Total costs and expenses3,380 3,240Income before income taxes420 220Income tax expense168 132Net income$252 $88

Compute the following ratios for 2010 and 2011. (Round current ratio and inventory turnover to 2 decimal places, e.g. 2.50. Round all other answers to 1 decimal place, e.g. 5.2.)

 20112010Current ratio [removed]:1 [removed]:1Inventory turnover (Inventory on 12/31/09 was $340) [removed] times [removed] timesProfit margin [removed]% [removed]%Return on assets (Assets on 12/31/09 were $1,900) [removed]% [removed]%Return on common stockholders’ equity. (Stockholders’ equity-common on 12/31/09 was $900.) [removed]% [removed]%Debt to total assets ratio. [removed]% [removed]%Times interest earned. [removed] times [removed] times  11 years agoReport issueAcc 291 Week 4NOT RATEDPurchase the answer to view itacc_291_week_4 xplagiarism checkPurchase $20Applied SciencesArchitecture and DesignBiologyBusiness & FinanceChemistryComputer ScienceGeographyGeologyEducationEngineeringEnglishEnvironmental scienceSpanishGovernmentHistoryHuman Resource ManagementInformation SystemsLawLiteratureMathematicsNursingPhysicsPolitical SciencePsychologyReadingScienceSocial ScienceLiberty UniversityNew Hampshire UniversityStrayer UniversityUniversity Of PhoenixWalden UniversityHomeHomework AnswersArchiveTagsReviewsContactCopyright © 2024 SweetStudy.com (Step To Horizon LTD)

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