Actrev 3
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Transcript of Actrev 3
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8/19/2019 Actrev 3
1/3
St. Paul School of Professional StudiesPalo, Leyte
Accounting Review 3 TEGI
Pro!le" #
$ae"il %or&oration re&orted the following figures'
()#* ()#+
%ash and cash euivalents P (,+*) P (,)-+Receiva!les #,#3 #,/##
Inventory #,3(+ #,)/)
Pre&aid E0&enses #,1)- (,#()
Total current assets P 1,(-/ P /,*
ther assets #,*)) #*,131
Total assets P 25,796 P 22,622
Total current lia!ilities 1,(3) ,+/1
Long2ter" lia!ilities +,1- 3,1-(
%o""on stoc /,*/ +,3/3
Retained earnings 1,()) /,)))Total lia!ilities and euity P 25,796 P 22,622
Sales P (),-+#
%ost of Sales 1,)**
&erating e0&enses 1,)/*&erating inco"e P /,(#
Interest e0&ense (#)
Inco"e ta0 (,*/3 4et Inco"e P 4,048
Reuired' #. 5ori6ontal analysis of $ae"il7s !alance sheet for ()#* would re&ort
a. %ash as -.*8 of total assets c. %urrent ratio of #.)#
!. #18 increase in cash d. Inventory turnover of /ti"es
(. 9ertical analysis of $ae"il7s !alance sheet for ()#* would re&ort
a. %ash as -.*8 of total assets c. %urrent ratio of #.)#
!. Inventory turnover of / ti"es d. #18 increase in cash
#/)#
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8/19/2019 Actrev 3
2/3
St. Paul School of Professional StudiesPalo, Leyte
Accounting Review 3 TEGI
3. A co""on2si6e inco"e state"ent for $ae"il would re&ort :a"ountsrounded;
a. 4et inco"e of #-8 c. %ost of sales of 3+8 !. Sales of #))8 d. All of the a!ove
+.
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8/19/2019 Actrev 3
3/3
St. Paul School of Professional StudiesPalo, Leyte
Accounting Review 3 TEGI
Pro!le" (
Assu"e the net inco"e was P /,))). 4o other infor"ation is nown, e0ce&t the
following'
Return on euity #)8 Return on Sales +8
Gross "argin &ercentage /)8 Inco"e ta0 rate +)8
%urrent ratio 3'# Return on Assets *8
Inventory turnover + >ays sale in receiva!le -)Long ter" de!t to euity ('3
REQUIRED: ?sing the &receding ratios, construct an inco"e state"ent and a !alance
sheet with as "uch detail as &ossi!le.
#/)#