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Category > Accounting Posted 21 Aug 2017 My Price 9.00

Prince Albert Canning PLC

25. Ratios and Foreign Companies Prince Albert Canning PLC had a net loss of £45,831 on sales of £198,352. What was the company’s profit margin? Does the fact that these figures are quoted in a foreign currency make any difference? Why? In dollars, sales were $314,883. What was the net loss in dollars?

SMOLIRA GOLF CORP. 2011 and 2012 Balance Sheets
Assets			Liabilities and Owners’ Equity
2011		2012		2011	2012
Current assets			Current liabilities
Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets	$24,046	$ 24,255	Accounts payable Notes payable Other Total Long-term debt Owners’ equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners’ equity	$ 23,184	$ 27,420
	12,448	15,235		12,000	10,800
	25,392	27,155		11,571	15,553
	$61,886	$ 66,645		$ 46,755	$ 53,773
				$ 80,000	$ 95,000
				$ 40,000	$ 40,000
				219,826	243,606
	324,695	365,734		$259,826	$283,606
	$386,581	$432,379		$386,581	$432,379

Some recent financial statements for Smolira Golf Corp. follow. Use this infor- mation to work Problems 26 through 30.

Sales		$366,996
Cost of goods sold		253,122
Depreciation		32,220
Earnings before interest and taxes		$ 81,654
Interest paid		14,300
Taxable income		$ 67,354
Taxes (35%)		23,574
Net income		$ 43,780
Dividends	$20,000
Retained earnings	23,780

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Status NEW Posted 21 Aug 2017 02:08 PM My Price 9.00

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