Questions from Financial Accounting

Q: Movens Company gathered the following data (in millions) for the

Movens Company gathered the following data (in millions) for the past two years: In a vertical analysis of 2019, the gross profit percentage would be closest to a. 18%. b. 46%. c. 100%. d. 325%

Q: During 2018, Orlando Medical’s total assets / /

During 2018, Orlando Medical’s total assets a. increased by $1,863 million. b. increased by 28.3%. c. Both a and b. d. increased by 22.1%.

Q: Orlando Medical’s current ratio at year-end 2018 is closest to

Orlando Medical’s current ratio at year-end 2018 is closest to a. $735. b. $8,578. c. 0.94. d. 1.2

Q: Orlando Medical’s quick (acid-test) ratio at year-

Orlando Medical’s quick (acid-test) ratio at year-end 2018 is closest to a. 0.68. b. $8,578 million. c. 0.45. d. 0.75.

Q: What is the largest single item included in Orlando Medical’s debt ratio

What is the largest single item included in Orlando Medical’s debt ratio at December 31, 2018? a. Accounts payable b. Cash and cash equivalents c. Common stock d. Investments

Q: Using the earliest year available as the base year, the trend

Using the earliest year available as the base year, the trend percentage for Orlando Medical’s net revenue during 2018 was a. 121%. b. up by 21.1%. c. up by $11,555 million. d. 137%....

Q: Orlando Medical’s common-size income statement for 2018 would report cost

Orlando Medical’s common-size income statement for 2018 would report cost of goods sold as a. 82.4%. b. $35,147 million. c. up by 20.1%. d. 137.9%.

Q: Orlando Medical’s days’ sales in receivables during 2018 was (assuming all

Orlando Medical’s days’ sales in receivables during 2018 was (assuming all revenue is on credit) a. 137.9 days. b. 25 days. c. 35 days. d. 20.1 days.

Q: Use the data for Griffin Company in E6-16A to answer

Use the data for Griffin Company in E6-16A to answer the following. Requirements: 1. Compute cost of goods sold and ending inventory, using each of the following methods: a. Specific identification...

Q: Orlando Medical’s inventory turnover during fiscal year 2018 was a.

Orlando Medical’s inventory turnover during fiscal year 2018 was a. $35,147. b. very slow. c. 83 times. d. 137.9 times