Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer all the questions ' Project a: Ratio Analysis Fido's Food Mart Adjusted Trial Balance December 31, 20XX Debits Credits 56,996 9,512 Cash Accounts

Please answer all the questions

image text in transcribed'image text in transcribed

Project a: Ratio Analysis Fido's Food Mart Adjusted Trial Balance December 31, 20XX Debits Credits 56,996 9,512 Cash Accounts Receivable 1,260 Less: Allowance for Doubtful Accounts 20,390 650 Inventory Supplies Prepaid Insurance Equipment Vehicle 12,250 Less: Accumulated Depreciation - Equipment and Vehicle 62,128 400 275 2,200 12,000 46,200 300 Interest Payable Unearned Revenue (Gift Cards) Dividends Payable Bonds Payable (mature 12/31AXX) Common Stock (200 shares @ $210/share Additional Paid In Capital Common Stock Dividends Declared Treasury Stock Retained Earnings Sales Revenue Less: Sales Discount Cost of Goods Sold Operating Expenses Bad Debt Expense Bank Charges Depreciation Expense Insurance Expense 2,200 1,125 134,725 40 64,330 34,840 3,260 15 1,780 160 400 5,750 1,200 15,500 Interest Expense Rent Expense Supplies Expense Wages Expense Totals 261,268 261,268 Project #13: Ratio Analysis elighted by their apparent success, Fido's Food Mart wanted to ensure that they really nderstood what was going on in their organization. They sat down with their accountant and sked for the following ratios to be computed and explained: equired: eference the Financial Statements from Project No. 11 . Debt-to-Assets Ratio (Solvency Ratio) Compute the ratio. Be sure to include a label, if it applies a. rite a full sentence to explain the nature of this as it applies to Fido's Food Mart. c. W rite a full sentence to provide suggestions to move the ratio in a better direction. Quick Ratio (Liquidity Ratio) a. Compute the ratio. Be sure to include a label, if it applies b. Write a full sentence to explain the nature of this as it applies to Fido's Food Mart c. write a full sentence to provide suggestions to move the ratio in a better direction 2. a. Compute the ratio. Be sure to include a label, if it applies b. Write a full sentence to explain the nature of this as it applies to Fido's Food Mart. c. Write a full sentence to provide suggestions to move the ratio in a better direction. 3. Gross Profit Percentage (Profitability Ratio) Net Profit Margin (Profitability Ratio) a. Compute the ratio. Be sure to include a label, if it applies. b. Write a full sentence to explain the nature of this as it applies to Fido's Food Mart. c.. Write a full sentence to provide suggestions to move the ratio in a better direction. 4. Solvency Ratio Liquidity Ratio Profitability Ratios O YaRi Photolife/Shutterstock.com hotolife/Shutterstock.com

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

The Principles And Practice Of Auditing

Authors: George Puttick, Sandra Van Esch

8th Edition

0702156914, 978-0702156915

More Books

Students also viewed these Accounting questions

Question

design a simple disciplinary and grievance procedure.

Answered: 1 week ago