Total asset turnover for SciTronics in 2008 can be calculated by dividing $ 244,000 into $ 159,000. The turnover deteriorated from 1.58 times in 2005 to 1.53 times in 2008. 2. SciTronics had $ 66,000 in accounts receivables at year/end 2008. Its average sales per day were $ 668.49 during 2008 and its average collection period was 99 days.
Acct Unit 1 Homework Assignment 06/12/15 Question 1: Brady Brothers, a partnership, has total assets of $350,000 and $100,000 of owners’ equity. What are the partnership’s total liabilities? $350,000 – Liabilities = $100,000 $350,000 - $100,000 = $100,000 - $100,000 Answer: $250,000 = Liabilities Question 2: During the first month of operation, Brady Brothers made sales to customers totaling $12,000 but received only $6,000 from customers in cash. Brady Brothers incurred $8,000 for operating expense but only paid $5,000 in cash for those expenses. What was Brady Brothers cash basis income?
A corporation has income of $62,000 from operations and a net long-term capital loss of $5,000. What is the corporation's taxable income for the year? The corporation’s taxable income is $62,000. Capital losses are only deductible towards capital gains. They can choose to carry back the losses or
Gross Income: $98,000.00 4. Both concerned about their large tax obligation of $22,909 as the end of the year approached. 5. They have six stocks in their portfolio, and only one was trading at a loss from its original purchase price. 6.
In all, it invested about $2.5 million in the company. Three years later, in 1989, Staples sold shares to the public, when it was just barely turning a profit, and Bain reaped more than
The U.S. carpet and rug industry recorded sales of $11.69 billion at manufacturer’s prices in 1999. Carpet and rug retail sales were estimated to be $17.9 billion. Industry sales are divided between “contract,” or commercial, sales for institutions and businesses and residential sales for household replacement carpets (Kerin & Peterson, 2004). Competitors: The U.S. carpet and rug industry is undergoing a period of consolidation begun in the mid-1980s. Mergers, acquisitions, and bankruptcies among manufacturers brought about by declining demand for carpet and rugs, excess manufacturing capacity, and dwindling profit margins reduced the number of carpet and rug manufacturers from more than 300 in the mid-1980s to about 100 companies in early 2000.
to take risk. Multiple Choice Question 55 Galan Associates prepared its financial statement for 2008 based on the information given here. The company had cash worth $1,234, inventory worth $13,480, and accounts receivables of $7,789. The company’s net fixed assets are $42,331, and other assets are $1,822. It had accounts payables of $9,558, notes payables of $2,756, common stock of $22,000, and retained earnings of $14,008.
Case 2: Hanson and ICI (United Kingdom) In May 1991, Hanson, the United Kingdom’s most notoriously acquisitive corporation, purchased a 2.8 percent stake in ICI, the United Kingdom’s largest manufacturer and the world’s fourth-largest chemical corporation. Amid speculation about the possibility of a takeover bid, the comparative performance of the two companies was a significant issue because of the claims of the respective management concerning their relative efficiency and success. From an accounting perspective, it is possible to assess performance in terms of both U.S. and U.K. GAAP because Hanson and ICI are listed in the United States and are required by the SEC, under Form 20-F, to provide reconciliation data. The comparative data below show net income and shareholders’ equity data for the period 1998–2002 in accordance with both U.K. and U.S. GAAP, together with the data for long-term debt. Questions 1.
| 3. INDUSTRY AND COMPETITIVE ANALYSIS Industry Macro-Environmental Characteristics-According with U.S Department of commerce U.S jewelry sales totaled $58.8 billion by 2009.- Diamond jewelry sales were particularly hard hit by the recession, with industry sales declining from $32.5 billion in 2005 to an estimated $29.5 billion in 2009.- The Jewelry Board of Trade estimated that there were some 22,415 specialty jewelry firms in the U.S in 2009, down from 26,750 specialty jewelry retailers in 1999. | Strategic Group MAPBlue Nile Zale Tiffany Others C U S T O M E R S | Industry Driving Forces-Internet: With Blue Nile and online jewelers, it gives them the ability to reach any single person who has internet access. In amassing product offerings, these online jewelers do not have to carry inventory. They are able to display tens of thousands of choices, customizable pieces and even show multiple angles of
From 1979 to 2006, the financial industry’s share in the nation’s corporate profits grew from a fifth to almost a third. By 2006, bankers and insurers were making 70 percent more, on average, than workers in the rest of the private sector. Then they set off again one of the worst financial crises since the Great Depression, and taxpayers bailed them out. The corruption is just not limited to Wall Street but also politicians who made money off of looking the other way. My input on this is that we did not learn anything from the crash of the stock market in 1929.