## (solution) Ashford Univ Guidanc Wee LISTEN TO AUDIO/VIDEO EXPLAINING THE

Can some really knowledgeable on accounting help me. I really don't understand this and need a good grade this is my final assignment! thank you

Ashford Univ

Guidanc

Wee LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT Account to

be changed

Ch 9 Ex 3

Edison

Cash

Stagg

Cash

Thornton

Cash Original

Amount \$4,000

\$2,500

BASED UPON

COURSE START

DATE Questions Compute the current and quick

ratios for each of the three

companies. (Round calculations

to two decimal places.) Which

firm is the most liquid? Why? Edison

Current ratio

Quick ratio

Stagg

Current ratio

Quick ratio

Thornton

Current ratio

Quick ratio Suppose Thornton is using

FIFO for inventory

valuation and Edison is

using LIFO. Comment on

the comparability of

information between

these two companies. If all short-term notes

payable are due on July 11

at 8 a.m., comment on

each company's ability to

settle its obligation in a

timely manner. Net Credit Sales

Cost of Goods Sold Account to

be changed

Ch 9 Ex 4

20X5

\$832,000

440,000 Questions

The company is

planning to borrow

\$300,000 via a 90day bank loan to

cover short-term

operating needs.

a. Compute the

accountsreceivable and

inventory-turnover

ratios for 20X5 Original

Amount

20X4

760000.00

BASED UPON

COURSE START

DATE Accounts

Receivable

Turnover

Inventory Turnover

Study the ratios

from part (a) and

comment on the

company's ability

to repay a bank

loan in 90 days. Suppose that

involves the

processing and

distribution of

fresh and frozen

fish throughout

the United States.

Do you have any

company's

inventory-turnover

ratio? Briefly

discuss. Account to

be changed Original

Amount Ch 9 Pb 1

20X5

Assets

Current Assets

Cash

Accounts Receivable (net)

Inventories

Prepaid Expense

Total Current Assets

Buildings (net)

BELOW STARTING ON

ROW 99

11250

18500

38500

3750

72000

102750

28500 20X4 12500.00

25000.00

35000.00

3750.00

76250.00

101250.00

30000.00 Vehicles (net)

Total Property, Plant, and Equipment

Total assets

Accounts Payable

Notes Payable

Federal Taxes Payable

Total Current Liabilities

Long-Term Debt

Total Liabilities

Common Stock, \$10 par

Retained Earnings

Total Stockholders' Equity

Total Liabilities and Stockholders' Eq WATERLOO CORPORATION

Comparative Income Statements

For the Years Ending December 31, 20X5 and

Net Sales Prepare a horizontal analysis of the

balance sheet showing percentage changes

from 20X4 to 20X5. Round all calculations

in parts (a) and (b) to two decimal

places. Questions 32000

163250

14750

250000

49000

13500

2500

65000

50000

115000

25000

110000

135000

250000 40000.00

171250.00

2500.00

250000.00

70000.00

40000.00

25000.00

135000.00

25000.00

160000.00

25000.00

65000.00

90000.00

250000.00 550000 20X4

BASED UPON

COURSE START

DATE WATERLOO CORPORATION

Comparative Balance Sheets

December 31,20X5 and 20X4

Assets

Current Assets

Cash

Accounts Receivable (net)

Inventories

Prepaid Expense

Total Current Assets

Buildings (net)

Equipment (net)

Vehicles (net)

Total Property, Plant, and Equipment

Total assets

Accounts Payable % Change Notes Payable

Federal Taxes Payable

Total Current Liabilities

Long-Term Debt

Total Liabilities

Common Stock, \$10 par

Retained Earnings

Total Stockholders' Equity

Total Liabilities and Stockholders'

Equity

WATERLOO CORPORATION

Comparative Income Statements Prepare a vertical analysis of the

20X5 income statement by relating each

item to net sales. 20X5 Net Sales

Cost of Goods Sold

Gross Profit

Operating Expense

Income Before Interest and Taxes

Interest Expense

Income Before Taxes

Income Tax Expense

Net Income Account to

be changed Original

Amount Ch 9 Pb 2

LONE PINE COMPANY

Comparative Balance Sheets

December 31, 20X2 and 20X1 (\$000 Omitted)

20X2

Assets

Current Assets

Cash and Short-Term Investments

Accounts Receivable (net)

BELOW STARTING ON

ROW 176

400

3000

2000 20X1 600.00

2400.00

2200.00 Total Current Assets

Land

Buildings and Equipment (net)

Total Property, Plant, and Equipment

Total Assets

Accounts Payable

Notes Payable

Total Current Liabilities

Bonds Payable

Total Liabilities

Common Stock Par value \$1 (Par value

not in original problem, but needed to

calculate ratio - dividend payout rate)

Number of Shares

Retained Earnings

Total Stockholders' Equity

Total Liabilities and Stockholders' Eq 5400

1700

1500

3200

8600

1800

1100

2900

4100

7000 5200.00

600.00

1000.00

1600.00

6800.00

1700.00

1900.00

3600.00

2100.00

5700.00 200

200

1400

1600

8600 200.00

200.00

900.00

1100.00

6800.00 LONE PINE COMPANY

Statement of Income and Retained Earnings

For the Year Ending December 31,20X2 (\$000 Omitted) 36000 Net Sales* Questions

Compute the following items for Lone Pine

Company for 20X2, rounding all

calculations to two decimal places and do

nt insert a percent symbol.

Quick ratio

Current ratio

Inventory-turnover ratio

Accounts-receivable-turnover ratio

Return-on-assets ratio

Net-profit-margin ratio

Return-on-common-stockholders' equity

Debt-to-total assets

Number of times that interest is earned

BASED UPON

COURSE START

DATE Account to

be changed

Ch 9 Pb 3

Cost of goods sold Questions

LOCK BOX INC.

Income Statement

For the Year Ending December 31, 20X3

Sales

Cost of Goods Sold

Gross Profit

Operating Expenses and Interest

Income Before Taxes

Income taxes, 40%

Net income

LOCK BOX INC.

Balance Sheet

December 31, 20X3

Assets

Cash

Accounts Receivable

Inventory

Property, Plant, and Equipment

Total assets

Liabilities and Stockholders' Equity

Accounts Payable

Notes Payable: Short-Term

Bonds Payable

Common Stock

Retained Earnings

Total Liabilities and Stockholders' Equity Original

Amount

BASED UPON

COURSE START

DATE Ashford University ACC205

Guidance Report

Week Five NING THE GUIDANCE REPORT

YELLOW INDICATES ACCOUNT AMOUNTS CHANGED

Change Account to:

Based Upon Course Start Date

Jan - Feb Mar-Apr May-Jun Jul-Aug Sept-Oct Nov-Dec 5,000 6,000 7,000 8,000 9,000 10,000 3,500 4,500 5,500 6,500 7,500 8,500 2,000 3,000 4,000 5,000 6,000 7,000 Jan - Feb

20X5

842,000

450,000 20X4

760,000

350,000 Mar-Apr

20X5

852,000

460,000 20X4

760,000

350,000 May-Jun

20X5

862,000

470,000 20X4

760,000

350,000 Jul-Aug

20X5

872,000

480,000 Jan - Feb 20X5 12,250

19,500

39,500

4,750

76,000

103,750

29,500 Mar-Apr 20X4 12,250

19,500

39,500

4,750

76,000

103,750

29,500 20X5 12,250

19,500

39,500

4,750

76,000

103,750

29,500 May-Jun 20X4 12,250

19,500

39,500

4,750

76,000

103,750

29,500 20X5 12,250

19,500

39,500

4,750

76,000

103,750

29,500 Jul-Aug 20X4 12,250

19,500

39,500

4,750

76,000

103,750

29,500 20X5 12,250

19,500

39,500

4,750

76,000

103,750

29,500 33,000

166,250

15,750

258,000

50,000

14,500

3,500

68,000

51,000

121,000

26,000

111,000

137,000

258,000 33,000

166,250

15,751

258,001

50,000

14,500

3,500

68,000

51,000

121,000

26,000

111,000

137,000

258,000 33,000

166,250

15,752

258,002

50,000

14,500

3,500

68,000

51,000

121,000

26,000

111,000

137,000

258,000 33,000

166,250

15,753

258,003

50,000

14,500

3,500

68,000

51,000

121,000

26,000

111,000

137,000

258,000 33,000

166,250

15,754

258,004

50,000

14,500

3,500

68,000

51,000

121,000

26,000

111,000

137,000

258,000 33,000

166,250

15,755

258,005

50,000

14,500

3,500

68,000

51,000

121,000

26,000

111,000

137,000

258,000 33,000

166,250

15,756

258,006

50,000

14,500

3,500

68,000

51,000

121,000

26,000

111,000

137,000

258,000 20X5

575,000 20X4

510,000 20X5

580,000 20X4

520,000 20X5

585,000 20X4

521,000 20X5

590,000 Jan - Feb Mar-Apr May-Jun Jul-Aug 20X2 20X1 20X2 20X1 20X2 20X1 20X2 1,400

4,000

4,000 1,400

3,200

3,000 2,400

5,000

4,000 2,200

4,000

3,800 3,400

6,000

5,000 3,000

4,800

4,600 4,400

7,000

6,000 9,400

2,700

2,500

5,200

14,600

2,800

2,100

3,900

5,100

9,000 7,600

1,400

1,800

3,200

10,800

2,500

2,700

4,400

2,900

7,300 11,400

3,700

3,500

7,200

18,600

3,800

3,100

4,900

6,100

11,000 10,000

2,200

2,600

4,800

14,800

3,300

3,500

5,200

3,700

8,900 14,400

4,700

4,500

9,200

23,600

4,800

4,100

5,900

7,100

13,000 12,400

3,000

3,400

6,400

18,800

4,100

4,300

6,000

4,500

10,500 17,400

5,700

5,500

11,200

28,600

5,800

5,100

6,900

8,100

15,000 1,200

1,200

4,400

5,600

14,600 1,000

1,000

2,500

3,500

10,800 2,200

2,200

5,400

7,600

18,600 1,800

1,800

4,100

5,900

14,800 3,200

3,200

7,400

10,600

23,600 2,600

2,600

5,700

8,300

18,800 4,200

4,200

9,400

13,600

28,600 39,000 41,000 45,000 46,000 Jan - Feb Mar-Apr May-Jun Jul-Aug Sept-Oct Nov-Dec 60.1% 60.2% 60.3% 60.4% 60.5% 60.6% Jul-Aug

20X4

760,000

350,000 Sept-Oct

20X5

882,000

490,000 Nov-Dec

20X4

760,000

350,000 20X5

892,000

500,000 20X4

760,000

350,000 Jul-Aug Sept-Oct 20X4 20X5 12,250

19,500

39,500

4,750

76,000

103,750

29,500 12,250

19,500

39,500

4,750

76,000

103,750

29,500 Nov-Dec 20X4 12,250

19,500

39,500

4,750

76,000

103,750

29,500 20X5 17,250

24,500

44,500

9,750

96,000

108,750

34,500 20X4 17,900

30,400

40,400

9,150

97,850

106,650

35,400 33,000

166,250

15,757

258,007

50,000

14,500

3,500

68,000

51,000

121,000

26,000

111,000

137,000

258,000 20X4

523,000 33,000

166,250

15,758

258,008

50,000

14,500

3,500

68,000

51,000

121,000

26,000

111,000

137,000

258,000 20X5

595,000 33,000

166,250

15,759

258,009

50,000

14,500

3,500

68,000

51,000

121,000

26,000

111,000

137,000

258,000 38,000

181,250

20,750

298,000

55,000

19,500

8,500

83,000

68,000

151,000

31,000

116,000

147,000

298,000 45,400

187,450

7,900

293,200

75,400

45,400

30,400

151,200

30,400

192,400

30,400

70,400

100,800

293,200 20X4

525,000 20X5

600,000 20X4

535,000 Jul-Aug Sept-Oct Nov-Dec 20X1 20X2 20X1 20X2 20X1 3,800

5,600

5,400 5,400

8,000

7,000 4,600

6,400

6,200 6,400

9,000

8,000 5,400

7,200

7,000 14,800

3,800

4,200

8,000

22,800

4,900

5,100

6,800

5,300

12,100 20,400

6,700

6,500

13,200

33,600

6,800

6,100

7,900

9,100

17,000 17,200

4,600

5,000

9,600

26,800

5,700

5,900

7,600

6,100

13,700 23,400

7,700

7,500

15,200

38,600

7,800

7,100

8,900

10,100

19,000 19,600

5,400

5,800

11,200

30,800

6,500

6,700

8,400

6,900

15,300 3,400

3,400

7,300

10,700

22,800 5,200

5,200

11,400

16,600

33,600 4,200

4,200

8,900

13,100

26,800 6,200

6,200

13,400

19,600

38,600 5,000

5,000

10,500

15,500

30,800 49,000 55,000 Net

###

###

Cost440,000 350,000

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