Question
Data from the financial statements of Dils Brothers Co. and J. Cox, Inc. are presented below (in millions): Dils Brothers Co. J. Cox, Inc. Total
Data from the financial statements of Dils Brothers Co. and J. Cox, Inc. are presented below (in millions):
Dils Brothers Co. | J. Cox, Inc. | |
Total liabilities, 2016 | $73,044 | $54,196 |
Total liabilities, 2015 | 72,208 | 60,092 |
Total assets, 2016 | 92,372 | 65,744 |
Total assets, 2015 | 93,028 | 70,416 |
Revenue, 2016 | 322,932 | 163,404 |
Net income, 2016 | 2,600 | 4,415 |
To the nearest hundredth of a percent, what is the 2016 return on sales ratio for Dils Brothers Co.?
Select one:
A. 0.81%
B. 0.38%
C. 0.30%
D. Not enough information provided
On October 1, 2016, A. Kushner entered into a lease agreement to rent out its old warehouse space it was no longer using. This agreement calls for Kushner to receive $12,000 per month from the lessee, due and payable at the end of the 4-month lease term. At December 31, 2017, none of the rental payments from the lessee had yet been received. If Kushner makes the appropriate adjusting entry, how much will be reported on the December 31, 2016 balance sheet as rent receivable?
Select one:
A. $16,000
B. $36,000
C. $ 8,000
D. $32,000
In which of the following would an opinion regarding the fair presentation of financial statements appear?
Select one:
A. Form 10-K
B. Notes to the Financial Statements
C. Auditors report
D. Management Discussion and Analysis
Determine Sales Revenue for Backstone Company with the following data.
Cost of Goods Sold | $2,240,000 |
Operating Expenses | 560,000 |
Sales Discounts | 40,000 |
Sales Returns and Allowances | 260,000 |
Net Income | 680,000 |
|
|
Select one:
A. $3,260,000
B. $3,700,000
C. $3,180,000
D. $3,780,000
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