ACC Week 8 Questions and Answers
14 pages of Homework Screenshots
Using the following data from the comparative balance sheet of Rodenbeck Company, illustrate horizontal analysis
Using the following data from the comparative balance sheet of Rodenbeck Company, illustrate vertical analysis
If Soule Company had net income of $585,000 in 2011 and it experienced a 30% increase in net income over 2010,
what was its 2010 net income?
Horizontal analysis (trend analysis) percentages for Epstein Company’s sales, cost of goods sold, and expenses are
Selected condensed data taken from a recent balance sheet of Perkins Inc. are as follows.
McLaren Corporation has net income of $11.44 million and net revenue of $80 million in 2010. Its assets are $14 million
at the beginning of the year and $18 million at the end of the year. What are McLaren’s (a) asset turnover and (b) profit
The following data are from the income statements of Huntsinger Company
The comparative condensed income statements of Hendi Corporation are shown below.
Comparative Condensed Income Statements
Complete the horizontal analysis of the income statement data for Hendi Corporation using 2010 as a base
Complete the vertical analysis of the income statement data for Hendi Corporation in columnar form for both years.
Nordstrom, Inc. operates department stores in numerous states. Selected financial statement data for the year ending
February 2, 2008, are as follows.
Balance Sheet (partial)
Compute the four liquidity ratios at the end of the year
Using the data in the chapter, compare Nordstrom’s liquidity with (1) that of J.C. Penney Company, and (2) the
industry averages for department stores.
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