E 4.25 – Rowan, Inc.
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given a condensed income statement… calculate the inventory turnover.
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Your numbers will vary.
Given a condensed income statement… calculate the inventory turnover.
Your numbers will vary.
They give you sales, cost of goods sold, net income, and a small balance sheet and ask you for 4 ratios (inv turn, rec turnover, avg collection period, asset turn).
Your numbers will vary.
They give you net sales and income as well as a small balance sheet and ask for 3 ratios and dividends (profit margin, return on assets, return on equity, dividends)
Your numbers will vary.
Given the reported income and tax rate for three different quarters… calculate the income tax expense that would be reported for each quarter.
Your numbers will vary.
Given the estimated executive incentive, the estimated depreciation expense, and the gain on sale during the quarter… determine the amounts that should be reported in the first quarter income statement.
Your numbers will vary.
Given four different expenditures that occurred throughout the year… calculate the amount that would be reported in the quarterly income statement.
Your numbers will vary.
They give you a long list of items and ask which are subtracted from net income (decrease in accounts receivable, issue common stock, etc.)
They give you a long list of items and ask how many are ADDED to Net Income (decrease in accounts receivable, issue common stock, etc.)
Asks what category interest is in International Accounting…
Asks where to classify issuing common stock on a cash flow statement.