Solutions Manual For

Solutions Manual For Financial Accounting Information for Decisions 11 th Edition By John Wild (All Chapters 1-13, 100% Original Verified, A+ Grade) All Chapters Arranged

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Wild, Financial Accounting 11e Solutions Manual: Chapter 13

Chapter 13 Analyzing and Interpreting Financial Statements

QUICK STUDY

Quick Study 13-1 (5 minutes)

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Quick Study 13-2 (10 minutes) 1.competitor 2.guidelines 3.intracompany 4.industry Quick Study 13-3 (5 minutes) $50,400 = 1.12 × prior year income $50,400 ∕ 1.12 = $45,000 prior year income 829 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC. 2 / 4

Wild, Financial Accounting 11e Solutions Manual: Chapter 13

Quick Study 13-4 (15 minutes) Current Year Prior Year Dollar Change Percent Change Short-term investments..............$374,634$234,000$140,634 60.1% Accounts receivable...................97,364101,000 (3,636) (3.6)% Notes payable..............................0 88,000(88,000)(100.0)% Quick Study 13-5 (15 minutes) Current Year Prior Year Dollar Change Percent Change Cash.............................................$ 7,440$ 8,000$ (560) (7.0)% Accounts receivable...................54,000 18,000 36,000 200.0% Equipment, net............................44,000 40,000 4,000 10.0% Land.............................................. 91,680 66,000 25,680 38.9% Total assets..................................$197,120$132,000 65,120 49.3% Quick Study 13-6 (15 minutes) Current Year Prior Year Cash.............................................3.8% 6.1% Accounts receivable...................27.4 13.6 Equipment, net............................22.3 30.3 Land.............................................. 46.5 50.0 Total assets..................................100.0% 100.0% Quick Study 13-7 (5 minutes) Trend percents Current Year 177.0% ($801,810 ∕ $453,000) Prior Year 100.0% (the given base amount) 830 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC. 3 / 4

Wild, Financial Accounting 11e Solutions Manual: Chapter 13

Quick Study 13-8 (5 minutes) Common-size percents Current Year 49.0% ($392,887 ∕ $801,810) Prior Year 29.6% ($134,088 ∕ $453,000) Quick Study 13-9 (15 minutes) a.

Current Ratio:

$15,000 + $5,000 + $8,000 + $20,000 + $6,000

$20,000

= 2.7 to 1 b.

Acid-Test Ratio:

$15,000 + $5,000 + $8,000

$20,000

= 1.4 to 1 Quick Study 13-10 (10 minutes) TransactionCurrent AssetsCurrent LiabilitiesCurrent Ratio

• No Effect No Effect No Effect
• Increase No Effect Increase
• No effect Increase Decrease

Quick Study 13-11 (15 minutes) a.

Accounts Receivable Turnover:

• )

$60,000

$14,000 + $6,000 /2

= 6.0 times i.

Days’ sales uncollected:

$6,000

$60,000

× 365 = 36.5 days 831 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC.

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