Assignment Results
Page 1 of 4
ACG 3073: Copy of Managerial Accounting ACG 3073
Chapt 13-ACG 3073
instructions
Score:
[The
Nadine Gustave
I help
1.26 out of 100 points (1.26%)
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,
2012
Sales
$ 538,907
$
324,422
Cost of goods sold
=-,,".=.-=-=
Gross profit
Selling expenses
Administrative expenses
214,485
76,525
48,502
Total expenses
125,027
and 2010
2011
412,847
260,919
2010
$ 286,500
183,360
=.==-.=-~
151,928
56,973
36,331
103,140
37,818
23,780
:'=--"'=--=""-""-"'.:":':"=
93,304
61,598
c..-..,-===
89,458
16,639
Income before taxes
Income taxes
58,624
12,018
,...~
•..
===-=-""
"'~-==-=--=-
Net income
41,542
8,433
$ 72,819
$ 46,606
~---==----=-:
5 ••
--·
--~
$ 33,109
_E="=-.~~
BENNINGTON COMPANY
Comparative Balance Sheets
December 31, 2012, 2011, and 2010
2012
2011
Assets
Cu rrent assets
Long-term investments
Plant assets, net
Total assets
Liabilities and Equity
Current liabilities
Common stock
Other paid-in capital
Retained eamings
Total liabilities and equity
Q
$ 48,691
o
91,831
/p
$ 140,522
$ 38,095
500
97,858
$ 136,453
~_c=T::-... ~
2010
0>$
50,924
4,700
57,427'
$ 113,051
::3::::--:::::'::-':"::~_
20,516
72,000
9,000
39,006
20,331
72,000
9,000
35,122
19,784
54,000
6,000
33,267
$ 140,522
$ 136,453
$ 113,051
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3/25/2013
Page 2 of4
Assignment Results
award:
1.
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
It}Sook
December 31 , 2012:
December 31,2011:
December 31, 2010:
538.907"
412,847"
286,500"
to
to
to
48,691 "
38,095 "
50,924 "
Links (3)
Worksheet
Learning Objective: 13·P1 Explain and apply methods
Learning Objective: 13·P3 Define and apply ratio
of horizontal analysis.
analysis.
Learning Objeclive: 13·P2 Describe and apply
Difficulty: Hard
methods
of vertical analysis.
Required:
1. Compute each year's current ratio. (Round your answers to 1 decimal place.)
Current ratio
December 31,2012: J
2.4±0.1
to
1.0
Current ratio
December 31, 2011:
1.9±0.1
to
1.0
Current ratio
December 31,2010:
2.6± 0.1
to
1.0
Explanation:
Current ratio
December 31,2012:
December31,2011:
December 31,2010:
$48,6911 $20,516
$38,095/$20,331
$50,9241 $19,784
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2.4 to 1
1.9to 1
2.6 to 1
3/25/2013
Assignment Results
Page 3 of 4
award:
2.
o out
of
33.00
. points
2. Express the income statement data in common-size
places. Omit the "%" sign in your response.)
Sales
Cost of goods sold
percents. (Round your answers
to 2 decimal
BENNINGTON COMPANY
Common-Size Comparative Income Statements
For Years Ended December 31,2012,2011,
and 2010
2012
2011
538,907Ii %
412,487Ii %
324,422Ii
2010
286,500Ii %
183,360Ii
260.919Ii
103,140Ii
37,818 Ii
23,780 Ii
214,485Ii
76,525 Ii
48,502 Ii
Gross profit
Selling expenses
Administrative expenses
Total expenses
Income before taxes
Income taxes
tt;eBook
42,00 Ii %
75.00 Ii %
Net income
Links (3)
__ ._----------
._---------------------_._._-----_._._---_.
Learning Objective: 13-P1 Explain and apply methods
of horizontal analysis.
Worksheet
Difficulty:
30.00 Ii %
2. Express the income statement data in common-size
places. Omit the "'10" sign in your response.)
Cost of goods sold
Gross profit
I
I
60..20. ± 0..0.1
.",-,=..:::..c=--"'--"
39.80. ± 0..0.1
Total expenses
23.20. ± 0..0.1
Income before taxes
r
16.6D±D.D1
Administrative expenses
percents. (Round your answers
BENNINGTON COMPANY
Common-Size Comparative Income Statements
For Years Ended December 31, 2012, 2011, and 2010
2012
2011
j1OO:00 %
j1OifOo %
I
I
I
Selling expenses
14.20. ± 0..0.1
9.0.0. ± 0..0.1
I
to 2 decimal
2010
100.0.0. %
I
64.0.0. ± 0..0.1
I
.:.;;.;,=~-===,=:;;..:;===== _
__::;====."':""===:::,
I
II
63.20. ± 0..0.1
I
I
36.80. ± 0..0.1
13.80. ± 0..0.1
8.80. ± 0..0.1
,==--=-_-:oo,=;;.=.-='"==~::.::=::.':.==.~=:::::.==.::;..
Income taxes
13-P3 Define and apply ratio
Learning Objective: 13-P2 Describe and apply
methods of vertical analysis.
Hard
Sales
---Learning Objective:
analysis.
.. ----
36.0.0. ± 0..0.1
13.20. ± 0..0.1
I
I
)14.2oTi'i:01
I
3.0.9 ± 0.0.1
2.91 ± 0..0.1
8.30. ± 0..0.1
..-=-'">'=,"===::.-::>
I
21.5D±DDr
14.5D±D.D1
I
2.94 ± 0..0.1
==.=c;c.;,'~=~~,=_==""'=·=.=:;..~·=~==_====·.=.::.;..:,;:=:;==_"=.;=;;;=_=___==='".':.;,.-.c=.=~
Net income
j13.51
± 0..0.1 %
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I
11.29 ± 0..0.1 %
11.56 ± 0..0.1 %
3/2512013
Page 4 of 4
Assignment Results
award:
3.
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.)
BENNINGTON COMPANY
Balance Sheet Data in Trend Percents
December 31.2012,2011, and 2010
2012
2011
Assets
Current assets
Long-term investments
Plant assets
Total assets
40.000%
0.00 (;
91.831 0
55.000%
500.000
97.858 0
30.000%
4.7000
57.4570
987.123.00 0
47.055.000
e:--==-,~
Liabilities and Equity
Current liabilities
Common stock
Other contributed
capital
Retained earnings
2010
5.856.000
_5.
45.000%
2.256.000
50.000%
895.000
85.000%
8.795.000
586.000
897.00.
854.000
325.000
854.000
898.000
Total liabilities and
equity
LUbBook links (3)
Worksheet
Learning Objective: 13-P1 Explain and apply methods
of horizontal analysis.
Difficulty:
Learning Objective: 13-P2 Describe and apply
methods of vertical analysis.
Hard
Learning Objective:
analysis.
13-P3 Define and apply ratio
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.)
BENNINGTON COMPANY
Balance Sheet Data in Trend Percents
December 31, 2012, 2011, and 2010
2012
2011
2010
Assets
Current assets
Long-term
investments
I
95.62 ± 0.01
I
Plant assets
0.00 ± 0.01
I
Total assets
Liabilities
Equity
74.81 ± 0.01
%
100.00 ± 0.01
%
10.64 ± 0.01
%
100.00
159.91 ± 0.01
170.40 ± 0.01
100.00 ± 0.01
124.30 ± 0.01
120.70 ± 0.01
100.00 ± 0.01
and
103.70 ± 0.01
Current liabilities
Common stock
Other contributed
capital
Retained earnings
Total liabilities and
equity
%
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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Companies.
All rights
reserved.
3/25/2013