Assignment Results

ACG 3073: Copy of Managerial Accounting ACG 3073

Chapt 13-ACG 3073

Score: 1.26 out of 100 points (1.26%)

[The fol/owing inrOm1!'tion applies to the questions displayed below.]

Selected comparative financial statements of Bennington Company follow:

BENNINGTON COMPANY Comparative Income Statements

For Years Ended December 31,2012,2011, and 2010 2012 2011

$ 538,907 $ 412,847 324,422 260,919

Sales Cost of goods sold

2010 $ 286,500

183,360 =-,,".=.-=-= =.==-.=-~

Gross profit 214,485 151,928 103,140 Selling expenses 76,525 56,973 37,818 Administrative expenses 48,502 36,331 23,780

:'=--"'=--=""-""-"'.:":':"=

Total expenses 125,027 93,304 61,598 c..-..,-===

Income before taxes 89,458 58,624 41,542 Income taxes 16,639 12,018 8,433

"'~-==-=--=- ,...~•..===-=-""

Net income $ 72,819 $ 46,606 $ 33,109~---==----=-: 5••--· --~ _E="=-.~~

BENNINGTON COMPANY Comparative Balance Sheets

December 31, 2012, 2011, and 2010 2012 2011

Assets Cu rrent assets Long-term investments Plant assets, net

2010

Q $ 48,691 /p $ 38,095 0>$ 50,924 o 500 4,700

91,831 97,858 57,427'

Total assets $ 140,522 $ 136,453 ~_c=T::-... ~

Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained eamings

20,516 72,000 9,000

39,006

20,331 72,000 9,000

35,122

$ 136,453Total liabilities and equity $ 140,522

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$ 113,051 ::3::::--:::::'::-':"::~_

19,784 54,000 6,000

33,267

$ 113,051

Page 1 of 4

Nadine Gustave

instructions I help

3/25/2013

Assignment Results Page 2 of4

1. award: o out of 33.00 points

Required: 1. Compute each year's current ratio. (Round your answers to 1 decimal place.)

Current ratio Current ratio Current ratio

538.907" to 412,847" to 286,500" to

48,691 " 38,095 " 50,924 "

December 31 , 2012: December 31,2011: December 31, 2010:

It}Sook Links (3)

Worksheet Learning Objective: 13·P1 Explain and apply methods Learning Objective: 13·P3 Define and apply ratioof horizontal analysis. analysis.

Learning Objeclive: 13·P2 Describe and apply methods of vertical analysis.Difficulty: Hard

Required: 1. Compute each year's current ratio. (Round your answers to 1 decimal place.)

December 31,2012: J December 31, 2011: December 31,2010:

Current ratio Current ratio Current ratio

2.4±0.1 to 1.9±0.1 to 2.6± 0.1 to

1.0 1.0 1.0

Explanation:

Current ratio December 31,2012: $48,6911 $20,516 December31,2011: $38,095/$20,331 December 31,2010: $50,9241 $19,784

2.4 to 1 1.9to 1 2.6 to 1

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Assignment Results Page 3 of 4

award: o out of 33.00

. points 2. Express the income statement data in common-size percents. (Round your answers to 2 decimal

places. Omit the "%" sign in your response.)

2.

Sales Cost of goods sold

Gross profit Selling expenses Administrative expenses

Total expenses

Income before taxes Income taxes

Net income

BENNINGTON COMPANY Common-Size Comparative Income Statements

For Years Ended December 31,2012,2011, and 2010 2012 2011 538,907Ii % 412,487Ii % 324,422Ii 260.919Ii

2010 286,500Ii % 183,360Ii

214,485Ii 76,525Ii 48,502 Ii

103,140Ii 37,818Ii 23,780Ii

75.00 Ii % 30.00 Ii %42,00 Ii %

Worksheet

tt;eBook Links (3) ._---------------------_._._-----_._._---_. __ ._---------- ----

Difficulty: Hard

Learning Objective: 13-P1 Explain and apply methods Learning Objective: 13-P3 Define and apply ratio of horizontal analysis. analysis.

Learning Objective: 13-P2 Describe and apply methods of vertical analysis.

2. Express the income statement data in common-size percents. (Round your answers to 2 decimal places. Omit the "'10" sign in your response.)

Sales Cost of goods sold

Gross profit Selling expenses Administrative expenses

Total expenses

Income before taxes Income taxes

Net income

BENNINGTON COMPANY Common-Size Comparative Income Statements

For Years Ended December 31, 2012, 2011, and 2010 2012 2011 j1OO:00 % j1OifOo %

60..20. ± 0..0.1 I 63.20. ± 0..0.1

I I

2010 I 100.0.0. %

64.0.0. ± 0..0.1I I I I

,==--=-_-:oo,=;;.=.-='"==~::.::=::.':.==.~=:::::.==.::;.. .. ---- ..-=-'">'=,"===::.-::>

I 23.20. ± 0..0.1

39.80. ± 0..0.1 14.20. ± 0..0.1 9.0.0. ± 0..0.1

I .",-,=..:::..c=--"'--" .:.;;.;,=~-===,=:;;..:;===== ___::;====."':""===:::,

I I I I 21.5D±DDr

36.80. ± 0..0.1 13.80. ± 0..0.1

8.80. ± 0..0.1

36.0.0. ± 0..0.1 13.20. ± 0..0.1

8.30. ± 0..0.1

r 16.6D±D.D1 )14.2oTi'i:01 I 14.5D±D.D1 I 3.0.9 ± 0.0.1 I 2.91 ± 0..0.1 I 2.94 ± 0..0.1

==.=c;c.;,'~=~~,=_==""'=·=.=:;..~·=~==_====·.=.::.;..:,;:=:;==_"=.;=;;;=_=___==='".':.;,.-.c=.=~

j13.51 ± 0..0.1 % I 11.29 ± 0..0.1 % 11.56 ± 0..0.1 %

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Assignment Results Page 4 of 4

award: 1.26 out of 34.00 points

3. Express the balance sheet data in trend percents with 2010 as the base year. (Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required. Omit the "%" sign in your response.)

3.

Assets Current assets Long-term investments Plant assets

Total assets

Liabilities and Equity Current liabilities Common stock Other contributed

capital Retained earnings

Total liabilities and equity

LUbBook links (3)

Worksheet

Difficulty: Hard

BENNINGTON COMPANY Balance Sheet Data in Trend Percents December 31.2012,2011, and 2010

2012 2011 2010

40.000% 55.000% 30.000% 0.00 (; 500.000 4.7000

91.831 0 97.858 0 57.4570

47.055.000 987.123.00 0 5.856.000 e:--==-,~ _5.

50.000% 45.000% 85.000% 895.000 2.256.000 8.795.000

586.000 897.00. 854.000

325.000 854.000 898.000

Learning Objective: 13-P1 Explain and apply methods Learning Objective: 13-P3 Define and apply ratio of horizontal analysis. analysis.

Learning Objective: 13-P2 Describe and apply methods of vertical analysis.

3. Express the balance sheet data in trend percents with 2010 as the base year. (Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required. Omit the "%" sign in your response.)

Assets

Current assets

Long-term investments

Plant assets

Total assets

Liabilities and Equity

Current liabilities

Common stock

Other contributed capital

Retained earnings

Total liabilities and equity

BENNINGTON COMPANY Balance Sheet Data in Trend Percents December 31, 2012, 2011, and 2010

2012 2011 2010

100.00 ± 0.01 %I 95.62 ± 0.01 % 74.81 ± 0.01 % I 0.00 ± 0.01 10.64 ± 0.01 I 159.91 ± 0.01 170.40 ± 0.01

100.00

100.00 ± 0.01

124.30 ± 0.01 120.70 ± 0.01 100.00 ± 0.01

103.70 ± 0.01 % I 102.76 ± 0.01 % I 100.00 ± 0.01 % 133.33 ± 0.01 133.33 ± 0.01 100.00 ± 0.01

150.00 ± 0.01 150.00 ± 0.01 100.00 ± 0.01

117.25 ± 0.01 105.58 ± 0.01 100.00 ± 0.01

124.30 ± 0.01 120.70 ± 0.01 100.00 ± 0.01

C:i: .

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