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Category > Accounting Posted 29 Jul 2017 My Price 12.00

Hames, Inc.,

Calculate profitability and liquidity measures Presented here are the comparative balance sheets of Hames, Inc., at December 31, 2014 and 2013. Sales for the year ended December 31, 2014, totaled $870,000.

Required:

a. Calculate ROI for 2014. Round your percentage answer to two decimal places.

b. Calculate ROE for 2014. Round your percentage answer to one decimal place.

c. Calculate working capital at December 31, 2014.

d. Calculate the current ratio at December 31, 2014. Round your answer to two decimal places.

e. Calculate the acid-test ratio at December 31, 2014. Round your answer to two decimal places.

f. Assume that on December 31, 2014, the treasurer of Hames, Inc., decided to pay $22,500 of accounts payable. Explain what impact, if any, this payment will have on the answers you calculated for parts a–d (increase, decrease, or no effect).

g. Assume that instead of paying $22,500 of accounts payable on December 31, 2014, Hames, Inc., collected $22,500 of accounts receivable. Explain what impact, if any, this receipt will have on the answers you calculated for parts a–d (increase, decrease, or no effect).

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Jul 2017 10:07 PM My Price 12.00

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