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**ACCT 212 Connect Homework 1 Liberty University Complete Answers**

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**ACCT 212 Connect Homework 1 Liberty University Complete Answers**

**The below shown questions is just one version sample.Download the solution .PDF document for the complete different version solutions and get A grade.**

Question 1

Compute trend percents for the above accounts, using 2013 as the base year.

Question 2

Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.)

Has the company's situation improved in the most recent year?

Question 3

Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow.

Determine the net income for the following years. (Enter all amounts as positive values.)

Did the net income increase, decrease, or remain unchanged in this three-year period?

Question 4

Simon Company's year-end balance sheets follow.

Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.)

Question 5

Simon Company's year-end balance sheets follow.

The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit:

(1) Compute days' sales uncollected.

Question 6

(2) Compute accounts receivable turnover.

Question 7

(3) Compute inventory turnover.

Question 8

(4) Compute days' sales in inventory.

Question 9

Simon Company's year-end balance sheets follow.

The company's income statements for the years ended December 31, 2017 and 2016, follow.

Calculate the company's long-term risk and capital structure positions at the end of 2017 and 2016 by computing the following ratios.

(1) Compute days' sales uncollected.

Question 10

(2) Debt-to-equity ratio.

Question 11

(3) Times interest earned.

Question 12

Simon Company's year-end balance sheets follow.

The company's income statements for the years ended December 31, 2017 and 2016, follow.

Calculate the company's efficiency and profitability by computing the following for 2017 and 2016.

(1) Profit margin ratio.

Question 13

(2) Total asset turnover.

Question 14

(3) Return on total assets.

Question 15

Simon Company's year-end balance sheets follow.

The company's income statements for the years ended December 31, 2017 and 2016, follow.

To help evaluate the company's profitability, compute the following ratios for 2017 and 2016:

(1) Return on common stockholders' equity.

(2) Price-earnings ratio on December 31. (Round your answers to 2 decimal places.)

(3) Dividend yield. (Round your answers to 2 decimal places.)

Question 16

In 2017, Randa Merchandising, Inc., sold its interest in a chain of wholesale outlets, taking the company completely out of the wholesaling business. The company still operates its retail outlets. A listing of the major sections of an income statement follows:

Prepare the income statement for calendar year 2017. (Loss amounts should be indicated with a minus sign.)

Question 17

Selected comparative financial statements of Korbin Company follow:

1. Complete the below table to calculate each year's current ratio.

Question 18

2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.)

Question 19

3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year. (Round your percentage answers to 2 decimal places.)

**ACCT 212 Connect Homework 1 Liberty University Complete Answers**

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