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The MBA 8 0 2 Company failed to record ( accrue ) $ 9 , 0 0 0 , 0 0 0 of cost related
The MBA Company failed to record accrue $ of cost related to vendor invoices and warranty liability at yearend. With this omission, the company's summary financial statements were stated as follows:
Summarized Income Statement
Sales $
All Cost incl Interest & Taxes $
Net Income $
Summarized Balance Sheet
This Year Last Year
Assets:
All Current Assets combined $ $
All LongTerm Assets combined $ $
Total Assets: $ $
Liabilities & Stockholders Equity
All Current Liabilities combined $ $
All LongTerm Liabilities combined $ $
Stockholders Equity $ $
Total Liabilities & Equity $ $
Answer the following questions:
Current Ratio per Company Statements?
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Current Ratio if Statements Fixed This Error?
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Would the Current Ratio Be Better or Worse?
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ROI per Company Statements?
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ROI if Statements Fixed This Error?
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Would the ROI be Better or Worse?
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ROE per Company Statements?
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ROE if Statements Fixed This Error?
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Would the ROE be Better or Worse?
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Important Notes Regarding How You Should Input Your Answers :
Display Current Ratio in the following format only xxx in other words, go to decimal points
Display ROI and ROE responses in the following format only xxin other words, go to one decimal point and include the percentage sign
Display the BetterWorse responses only using one of the following choices: Better Worse
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