September 2023 ACC 280 E15 11 Scully Corporation s comparative balance sheets are presented below Principles of Accounting Weygandt J J Kimmel
2024 Scully Corporation’s comparative balance sheets are presented below. Assignment Help
ACC 280 E15 11 Scully Corporation s comparative balance sheets are presented below Principles of Accounting Weygandt J J Kimmel 2023
ACC 280 E15-11 Scully Corporation’s comparative balance sheets are presented below. Principles of Accounting: Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2008). Financial Accounting (6th ed.). Hoboken, NJ: Wiley. Axia College of University of Phoenix (UoP) E15-11 Scully Corporation’s comparative balance sheets are presented below. SCULLY CORPORATION Balance Sheets December 31 2008 2007 Cash $ 4,300 $ 3,700 Accounts receivable 21,200 23,400 Inventory 10,000 7,000 Land 20,000 26,000 Building 70,000 70,000 Accumulated depreciation (15,000) (10,000) Total $110,500 $120,100 Accounts payable $ 12,370 $ 31,100 Common stock 75,000 69,000 Retained earnings 23,130 20,000 Total $110,500 $120,100 Scully’s 2008 income statement included net sales of $100,000, cost of goods sold of $60,000, and net income of $15,000. Instructions Compute the following ratios for 2008. (a) Current ratio. (b) Acid-test ratio. (c) Receivables turnover. (d) Inventory turnover. (e) Profit margin. (f) Asset turnover. (g) Return on assets. (h) Return on common stockholders’ equity. (i) Debt to total assets ratio.
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