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Business MGMT Acctg Assignment 2

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4 views3 pages

Business MGMT Acctg Assignment 2

Uploaded by

Pie DUmp
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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MBC COMPANY

Statement of Income
For the Years Ended December 31,2023 & 2022

2023
Net Sales 8,245,000.00
Less: Cost of Goods Sold 5,231,000.00
Gross Profit 3,014,000.00
Less: Operating Expenses
Selling expenses 1,211,000.00
Administrative expenses 1,122,000.00
Total Operating Expenses 2,333,000.00
Net Operating Income 681,000.00
Less; Interest expenses 184,000.00
Net Incone before tax 497,000.00
Income tax expense 124,250.00
Net Incone for the period 372,750.00

MBC COMPANY
Statement of Financial Position
As of December 31,2023 & 2022

2023
Current Assets
Cash 204,000.00
Accounts receivable 581,000.00
Short term investments 500,000.00
Prepaid expenses 45,000.00
Inventories 900,000.00
Total Current Assets 2,230,000.00

Non-Current Assets
Property and Equipment (net) 1,880,000.00
TOTAL ASSETS 4,110,000.00

Current Liabilities
Accounts payable 570,000.00
Notes payable 400,000.00
Total Current Liabilites 970,000.00

Non-Current Liabilities
Loans payable 1,200,000.00
TOTAL LIABILITIES 2,170,000.00

EQUITY 1,940,000.00
TOTAL LIABILITES & EQUITY 4,110,000.00
REEQUIREMENTS: Solve the following
1 Cuurent ratio
2 Acid-rest ratio
3 Debt ratio
4 Return on assets
5 Return on equity
6 Gross profit ratio
7 Accounts receivable turn-over
8 Inventory turn-over
9 Net profit ratio
10 Debt to equity ratio
11 Days in accounts receivable
12 Days sales in inventory
mber 31,2023 & 2022

2022
7,857,000.00
5,011,000.00
2,846,000.00

1,285,000.00
1,039,000.00
2,324,000.00
522,000.00
120,000.00
402,000.00
100,500.00
301,500.00

ncial Position
2023 & 2022

2022

111,000.00
565,000.00
250,000.00
30,000.00
1,221,000.00
2,177,000.00

1,790,000.00
3,967,000.00

317,000.00
1,000,000.00
1,317,000.00

900,000.00
2,217,000.00

1,750,000.00
3,967,000.00

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