Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2) please re-arrange the financial statement in right format and calculate all the ratios mentioned in the lecture for following company Sneider Corp's Balance Sheet

2) please re-arrange the financial statement in right format and calculate all the ratios mentioned in the lecture for following company Sneider Corp's Balance Sheet Cash Notes Payable-short term Marketable Securities 31-Dec-19 50,000 Income Statement 31-Dec-19 70,000 Project Revenue 20,000 long term Investment Accounts Receivable 60,000 COGS 1,980,000 1,280,000 160,000 Accumulated Depreciation-Plant and equipment 190,000 Gross Profit 700,000 Inventory 200,000 Accounts Payable 90,000 Operating exp Plant and equipment 600,000 Admin & Selling Exp 475,000 Shareholder's Capital (common share and preferred shares) 370,000 Net profit before Interest and tax 225,000 Long-term loan payable---16 years total 160,000 Long-term loan payable-current portion 160,000/16 year 10,000 Interest Expense 25,000 Retained Earnings 210,000 Earning before tax 200,000 Taxes 80,000 Earning after tax 120,000 Required: 1) re-arrange the accounts following the right balance sheet format 2) Calculate the 10 ratios based on the lecture formulas

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financing China S Belt And Road Initiative

Authors: XIAO Gang

1st Edition

1032027479, 978-1032027470

More Books

Students also viewed these Accounting questions