ALGEBRAEXPERT

QRB/501 Week 5 Problem Set

The solutions are in the Excel file. There are 9 tabs on the bottom of the excel file labeled Q1 to
Q9. There are two Excel file, a 2013 version and 1997 version. Whichever one opens, use that
one.
You will have to input your questions, and the Excel file will give you the answer. Note, the
questions may not be in the order of your problem set, so look below for the key to which
question is which.

Q1:
Prepare a balance sheet for the nursery for Decemer 31, 2012. The company assets include cash,
________, accounts recievable, ________, and merchandise inventory, ________. The liabilities
include account payable, ________, wages payable, ________. The owners capital is ________.
Q2:
Complete the vertical analysis on the balance sheet for the nursery for 2012.
Click the icon to view the nursery balance sheet.
Fill the blanks rounding the answers to the nearest tenth.
Q3:
To find the percent of total debt compared to total assets, divide the total liabilities by the total
assets and write in percent form. Find the total debt to total assets for the bakery for 2012.
Click the icon to view the bakery balance sheet.
Q4:
Complete the income statement for Sith Ross Oriental Groceries for the years 2011 and 2012.
Click the icon to view the Sitha Ross Oriental Groceries Income Statement.
Q5:
Extend the income statement for Miss Muffins Bakery to include a vertical analysis for 2012
and 2011.
Click the icon to view the income statement.
Q6:
What is the current ratio for Denmark, Inc., which has current assets of ________ and current
liabilities of ________?

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Q7:
Company A reported net sales of ________ and have average total assets of ________. Find its
asset turnover ratio.
Q8:
Find the acid-test ratio for a business if the balance sheet shows the following amounts: cash,
________; receivables, ________; marketable securities, ________; current liabilities,
________.
Q9:
Find the operating ratio for Sols Dry Goods if the income statement for the month shows net
sales, ________; cost of goods sold, ________; gross profit, ________; operating expenses,
________; net income, ________. Express results to the nearest tenth of a percent.