managerial accounting

managerial accounting

1 of 1 Question 3 Mason Corporation reported the following financial statements: Mason Corporation Comparative Balance Sheet December 31, 2017 and 2016 Assets $ 2,450 $2.094 1,611 Current Assets Cash and Cath Jivalents Accounts Receivable Merchandise inventory Prepaid Expenses Total Current Assets Other Assets Total Assets 2,120 15.737 $ 22,622 525,796 Liabilities Current abilities Long-term L es Total bites $ 7.230 4.798 12,028 58467 3.792 12.259 6568 4363 Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 13,768 $25.796 10.063 522,622 Income Statement Year Ended December 31, 2017 5 20.41 Cost of Goods Sold Grow Profit Operating Expenses Operating income weest Expense Income Before Income Taxes income Tax Expense Net income 1 of 1 Q30) could present 1. What part of the Mastannual report is written by the company and abied view of financial condition and results Balance Sheet b. Managemen's Dcusion and Analysis of Financial Condition and Operations (MDRA) c. Audio's Report d. InceSemes 2. Horisontal analysis of as balance sheet for 2017 would report 2 Cash 9.50% of totales b. a 17 increase in Cash and Cash Equivalents a current ratio of 1.01. d. inventory turnover of times 3. Vertical analysis of Mas balance sheet for 2017 would report Casus 9.50% of total current ratio of 1.01 b. inventory turnover of times. d. a 17% increase in Cash 4. Which temene best describes Me cides to for 2017 Greater than 1 Le than b. Equal to 1 d. None of the above 5. Mas u mover during 2017 was amounts rounded 6 times 8 times d. not determinable from the dataves 6. Asume sales are credit. During 2017, lesen day sales in receivables ratio 1 days 30 days d. 28 days 7. Which measure expresses Mason times-interest-carned ratio (umounts rounded 254.11 19 times c .% 8. Marrard of return on common stockholders equity can be described as b. normal strong d. Average 9. The company has 2.500 shares of common stock outstanding What is ingpershare? $1.75 $2.73 d. 2.63 times 10. l eder for an item to be reported in the tradinary items action of the income statement, imhe awal unusual or infrequent bique d. and infrequent. 1. What are the three main ways to analyze financial statements? 2. What is an annual report Briefly describe the key parts of the annual report 3. What is horizontal analysis, and how is a percentage change computed 4. What is trend analysis, and how does it differ from horizontal analysis? 5. What is vertical analysis? What item is used as the base for the income statemene! What item is used as the base for the balance sheet? 6. Describe a common-sise statement and how it might be helpful in evaluating a company 7. What is benchmarking and what are the two main types of benchmarks in financial statement analysis & Briefly describe the ratios that can be used to evaluate a company's ability to pay current liabilities. 9. Briefly describe the ratios that can be used to evaluate a company's ability to sell merchandise inventory and collect receivables. 10. Briefly describe the ratios that can be used to evaluate a company's ability to pay long-term debt. 11. Briefly describe the ratios that can be used to craluate a company's profitability, 12. Briefly describe the ratios that can be used to evaluate a company's stock as an investment. 13. What are some common red flags in financial statement analysis? 144. What is reported in the discontinued operations section of the income statement! ISA. 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What part of the Mase annual report is written by the company and a biased view of financial conditions and results? a. Balance Sheet b. Management's Discussion and Analysis of Financial Condition and Operations (MD&A) c. Auditor's Report d. Income Statement 2. Horizontal analysis of masen balance sheet for 2017 would report a. Cash as 9.50% of total assets. b. a 17% increase in Cash and Cash Equivalents. ca current ratio of 1.01. d. inventory turnover of 6 times. 3. Vertical analysis of Mas balance sheet for 2017 would report a. Cash as 9.50% of total assets. ca current ratio of 1.01. b. Inventory turnover of 6 times. d. a 17% increase in Cash. 4. Which statement best describes Masen acid-test ratio for 2017? a. Greater than 1 c. Less than b. Equal to 1 d. None of the above 5. Mason inventory turnover during 2017 was amounts rounded) a. 6 times. c. 8 times. b. 7 times. d. not determinable from the data given 6. Asume all sales are on credit. During 2017. mesen days' sales in receivables ratio was (amounts rounded) a. 34 days. b. 30 days. c. 32 days. d. 28 days. 7. Which measure expresses Mason times interest-earned ratio (amounts rounded) a. 54.7% b. 19 times . 34.5% d. 32 times 8. Mason rate of return on common stockholders' equity can be described as a. weak. b. normal. strong, d. dverage 9. The company has 2.500 shares of common stock outstanding. What is Mase carn- ingsper share? a $1. 62 b . $1.75 c. $2.73 d. 2.63 times 104. longer for an item to be reported in the extraordinary Items section of the income statement, it must be a. unusual. c. unusual or infrequent. b. infrequent d. unusual and infrequent. Q36) 1. What are the three main ways to analyze financial statements? 2. What is an annual report? Briefly describe the key parts of the annual report. 3. What is horizontal analysis, and how is a percentage change computed? 4. What is trend analysis, and how does it differ from horizontal analysis? 5. What is vertical analysis? What item is used as the base for the income statement? What item is used as the base for the balance sheet? 6. Describe a common-size statement and how it might be helpful in evaluating a company. 7. What is benchmarking, and what are the two main types of benchmarks in financial statement analysis? 8. Briefly describe the ratios that can be used to evaluate a company's ability to pay current liabilities. 9. Briefly describe the ratios that can be used to evaluate a company's ability to sell merchandise inventory and collect receivables. 10. Briefly describe the ratios that can be used to evaluate a company's ability to pay long-term debt. 11. Briefly describe the ratios that can be used to evaluate a company's profitability 12. Briefly describe the ratios that can be used to evaluate a company's stock as an investment. 13. What are some common red flags in financial statement analysis? 14A. What is reported in the discontinued operations section of the income statement? 15A. Describe the types of items that would be reported in the extraordinary items section of the income statement