QRB 501 Week 3 Quiz (New, With Excel File)
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QRB 501 Week 3 Quiz (New, With Excel File)

This Tutorial was purchased 20 times & rated A+ by student like you.

 

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  • QRB 501 Nn Week 3 Quiz Guide.xlsx

This Tutorial contains an Excel file which can be used to solve for any change in values Q-1 Find the operating ratio for Sol's Dry Goods if the income statement for the month shows net sales, $16500; cost of goods sold, $7500; gross profit, $8000; operating expenses, $2500; net income, $5500. Express results to the nearest tenth of a percent. Q-2 Find the acid-test ratio for a business if the balance sheet shows the following amounts: cash, $32,815; receivables, $11,046; marketable securities, $0; current liabilities, $22,193. Q-3 Complete the horizontal analysis showing differences in dollar amounts and percents on the comparative balance sheet for the bakery. (Use parentheses to indicate decreases. Round all the percentages to the nearest tenth.) the icon to view the bakery comparative balance sheet. Q-4 Prepare a balance sheet for the bakery for December 31, 2012. The company assets include cash, $2,033, accounts receivable, $4,272, and merchandise inventory, $$2,507. The liabilities include accounts payable, 3,428, wages payable,$1,784. The owner's capital is $3,600. Q-5 Extend the income statement for Miss Muffins' Bakery to include a vertical analysis for 2010 and 2011. Q-6 Complete the portion for July 31, 2011, of the income statement shown for Miss Muffins' Bakery using the given information: gross sales, $35,579; returns and allowances, $341; cost of beginning inventory, $17,111; cost of purchases, $27,211; cost of ending inventory, $422,874; total operating expenses, $23,182. Compute net sales, cost of goods sold, gross profit, and net income. Q-7 To find the percent of total debt compared to total assets, divide the total liabilities by the total assets and write in percent form. Find the total debt to total assets for the bakery for 2012. Q-8 Find the gross profit margin ratio if The Premier Eatery had net sales of $390,142 and its cost of goods sold was $176,966. Q-9 Complete the vertical analysis on the balance sheet for the bakery for 2012. Q-9 Complete the vertical analysis on the balance sheet for the nursery for 2012. Q-10 Extend the income statement for Miss Muffins' Bakery to include the amounts of increase or decrease and the percents of increase or decrease for a horizontal analysis. (Use parentheses to indicate decreases.)

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