Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help me compute the ratios of the information given? Below theres is a list of the ratios i need to complete, please someone help me!!!

Help me compute the ratios of the information given? Below theres is a list of the ratios i need to complete, please someone help me!!! image text in transcribed
image text in transcribed
Financial Statements Problems April 30, You are provide with the following information for RIVAS COMPUTER AND REPAIRS, effective as of its 20x1, year-end. $30,000 10,000 Accumulated depreciation-building Accumulated depreciation-equipment 83,400 81,000 383,700 Accounts payable Accounts receivable Buildings 77,000 310,380 Cash Common stock 396,000 Cost of goods sold 45,000 3,500 47,500 132,000 2,000 20,400 25,500 19,000 25,000 96,700 160,000 320,000 30,000 23,000 160,000 645,000 50,000 Current portion of long-term debt Depreciation expense Dividends paid during the year Equipment Freight-Out Income tax expense Intangible assets Interest expense Interest revenues Inventory Land Mortgage payable Note payable Utilities expenses Retained earnings, beginning Sales revenue Sales Returns and Allowances Sales Discounts Advertising expenses Debt investments Salaries and wages expense Salaries and wages payable Stock investment 9,500 15,000 10,000 84,000 2,220 25,200 2. Compute the followings ratios a. Working capital b. Current ratio c. Debt to assets ratio d. Gross profit rate e. Profit margin f. Earnings per share (The average number of shares outstanding for 20X1 was 10,000. 3. For each of the statements, describe in narrative form: the usefulness of the report, the basic information divulged, and the format it is presented in; if applicable

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

Auditing Humor And Other Oxymorons

Authors: Mr Mike Jacka

1st Edition

0991280903, 978-0991280902

More Books

Students also viewed these Accounting questions

Question

I receive useful feedback about my performance.

Answered: 1 week ago

Question

I am encouraged to offer opinions/suggestions.

Answered: 1 week ago