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GrogVix [38]
3 years ago
9

The following income statement and balance sheets for Virtual Gaming Systems are provided.

Business
1 answer:
Naddika [18.5K]3 years ago
7 0

Answer:

gross profit ratio = gross profit / net sales = $1,126,000 / $3,086,000 = 36.49%

return on assets = net income / total assets = $139,000 / $946,000 = 14.69%

profit margin = net income / net sales = $139,000 / $3,086,000 = 4.5%

asset turnover = net sales / average total assets = $3,086,000 / [($946,000 + $794,200) / 2] = 3.55 times

return on equity = net income / shareholders' equity = $139,000 / $547,000 = 25.41%

price earnings ratio = current sock price / earnings per share = $28.30 / $1.40 = 20.21 times

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Suppose the comparative balance sheets of Windsor, Inc. are presented here. WINDSOR, INC. Condensed Balance Sheet May 31 ($ in m
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Answer:

since there is not enough room here, I prepared the comparative balance sheets on an excel spreadsheet.  

Explanation:

WINDSOR, INC.

May 31  2017 2016

($ in millions)

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Other assets $1,550 $1,610

Total assets $13,080 $12,200

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Answer and Explanation:

The journal entries are shown below:

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= Cash price of machine + sales tax + shipping cost + insurance during shipping + installation and testing cost

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