Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 29 Jul 2017 My Price 9.00

Starkey Company

EXERCISE 15–10 Trend Percentages [LO1]

Starkey Company’s sales, current assets, and current liabilities (all in thousands of dollars) have been reported as follows over the last five years (Year 5 is the most recent year):

 

 

Year 5

 

Year 4

 

Year 3

 

Year 2

 

Year 1

Sales  . . . . . . . . . . . . . . . . . .

$5,625

 

$5,400

 

$4,950

 

$4,725

 

$4,500

Current assets:

Cash . . . . . . . . . . . . . . . . .

 

$     64

 

 

$     72

 

 

$     84

 

 

$     88

 

 

$     80

Accounts receivable  . . . . .

560

 

496

 

432

 

416

 

400

Inventory . . . . . . . . . . . . . .

896

 

880

 

816

 

864

 

800

Total current assets  . . . . . . .

$1,520

 

$1,448

 

$1,332

 

$1,368

 

$1,280

Current liabilities  . . . . . . . . .

$  390

 

$  318

 

$  324

 

$  330

 

$  300

 

 

 

 

 

Required:

1.       Express all of the asset, liability, and sales data in trend percentages. (Show percentages for each item.) Use Year 1 as the base year, and carry computations to one decimal place.

2.       Comment on the results of your analysis.

EXERCISE 15–10 Trend Percentages [LO1]

Starkey Company’s sales, current assets, and current liabilities (all in thousands of dollars) have been reported as follows over the last five years (Year 5 is the most recent year):

 

 

Year 5

 

Year 4

 

Year 3

 

Year 2

 

Year 1

Sales  . . . . . . . . . . . . . . . . . .

$5,625

 

$5,400

 

$4,950

 

$4,725

 

$4,500

Current assets:

Cash . . . . . . . . . . . . . . . . .

 

$     64

 

 

$     72

 

 

$     84

 

 

$     88

 

 

$     80

Accounts receivable  . . . . .

560

 

496

 

432

 

416

 

400

Inventory . . . . . . . . . . . . . .

896

 

880

 

816

 

864

 

800

Total current assets  . . . . . . .

$1,520

 

$1,448

 

$1,332

 

$1,368

 

$1,280

Current liabilities  . . . . . . . . .

$  390

 

$  318

 

$  324

 

$  330

 

$  300

 

 

 

 

 

Required:

1.       Express all of the asset, liability, and sales data in trend percentages. (Show percentages for each item.) Use Year 1 as the base year, and carry computations to one decimal place.

2.       Comment on the results of your analysis.

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Jul 2017 11:07 PM My Price 9.00

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