1.Prepare a balance sheet for the nursery for December 31st 2012. The company assests include cash $8,703, accounts receivable, $7480, and merchandise inventory $18003. The liabilities include accounts payable $9717,wages $3932. The owners capital is $20537
Assests
Cash $8703
Accounts receivable inventory $7480
Merchandise invemtory $18,003
Total assets ?
2. to find the percent of the total debt compared to total assests, divided the total liabilities by the total assests and write on the percent form. Find the total assests for the bakery for 2012. Round to the nearest tenth
Cash $1935
Accounts receivable $4187
Merchandise inventory $2,434
Total assests $8556
Liabilities
Accounts payable $3494
Wages payable $ 1738
Total liabilities $ 5232
Owners equity
The owners capital $3324
Total liabilities and owners equity $8,556
3. complete the income statement for sith ros’s oreiental groceries for the years 2011 and 2012
Net sales 2012 2012
$97683 $9245
Cost of goods 82,020 72,470
Gross profit ? ?
Operating expenses 4,438 3,029
Net income ? ?
4. extend the income statement for miss muffins bakery to include a vertical analysis for 2010 and 2011. Round to nearest tenth as needed.
Gross sales 2011 % of net sales 2010 % of net sales
Gross sales $35,706 ? $32,837 ?
Return and 341 ? 292 ?
Allwonces
Net sales 35,365 ? 32,545 ?
5. what is the current ratio for Denmark inc, which has current assets of $154,007 and current liabilities of $116,802? Current ratio is ? to 1. Type an interger or decimal rounded to two decimals places as needed.
6. company A reported net sales of $262,584 and had averaged total assets of $166,727. Find the its asset turn over ratio. The asset turnover ratio is aproximetly ? type an interger or decimal rounded to the nearest hundredth as needed
7. find the acid test ratio for a business if the balance sheet shows the following amounts: $32,663; receivables, $13,046; markable securities, $0 current liabilities $21,136. The acid test ratio is approximately? Type an integer or decimal rounded to the nearest hundredth as needed
8. find the operating ratio for sol’s dry goods if the income statmnt for the month shows net sales $17500;cost of goods sold $8500;gross profit, $7000; operating expenses, $2500; net income, $5500. Express results to the nearest tenth of a percent . operating ratio is ? %
9.find the interest paid on a loan of $2800 for the three years at a simple interest rate of 12% per year
10. find the maturity value of a loan of $2400 after two years. The loan carries interest rate of 7.5% per year. Round to the nearest cent as needed
11. convert to years, expressed in decimal form to the nearest hundredth: 5 months
5 months=?year
Round to the nearest hundredth as needed
12.a man need money to buy lawn equipment. He borrowed $500 for eight months and paid 53.93 in interest. What was the rate of interest? Round to the one decimal place as needed.
13. find the exact interest on a loan of $32600 at 8% annually for 30days. Round to the nearest cent as needed
14. raul fletes borrowed $9000 on a 300 day note that required interest at 13.47%. raul paid $4500 on the note on the 150th day. How much interest did he save by making the partial payment? Round to the nesrest cent as needed
15. a man makes a simple discount note with a face value of $2300 a tern of 140 days and an 18% discount rate. Find the discount. Round to the nearest dollar as needed
16. a man has a simple discount note for $6300 at an ordinary bank dixcount rate of 8.72% for 50 days. What is the effective interest rate? Round to the nearest tenth of a percent
17.a man holds a note of $6000 that has an interest rate of 13% annually. The note was made on march 16th and is due November 12th. He sells the note to a bank on june 12th as a discount rate 12% annually. Find the proceeds on the third party discount note. Round the final answer to the nearest hundredth as needed. Round all intermediate values to the nearest hundredth as needed
17. a loan of $5000 at 6% is compounded semiannually for three years. Find the future value and compound interest.
18. tom bond borrowed $6400 at 6 ½ % for three years compounded annually. What is the compound amount of the loan and how much interest will he pay on the loan. Compound amount= compound interest=
19. compute the amount of money to be set aside today to ensure a future value of $4600 in one year if the interest rate is 3.5% annually, compounded annually. Round to the nearest cent as needed.
20. Ronnie cox has just inherited $27000 how much of this money should he set aside to have $18000 to pay cash for a ventura van, which he plans to purchase in one year? He invested at 1.8% annually, compounded annually. Round to the nearest cent as needed.