{"id":13417,"date":"2020-11-24T09:05:56","date_gmt":"2020-11-24T09:05:56","guid":{"rendered":"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/24\/answer-all-of-the-following-questions-problems-and-submit-them-to-your-mentor-in-a-word-document\/"},"modified":"2020-11-24T09:05:56","modified_gmt":"2020-11-24T09:05:56","slug":"answer-all-of-the-following-questions-problems-and-submit-them-to-your-mentor-in-a-word-document","status":"publish","type":"post","link":"https:\/\/onlineclassesguru.com\/index.php\/2020\/11\/24\/answer-all-of-the-following-questions-problems-and-submit-them-to-your-mentor-in-a-word-document\/","title":{"rendered":"Answer all of the following questions\/problems and submit them to your mentor in a Word document"},"content":{"rendered":"<style type=\"text\/css\"><\/style><div class=\"section the_content has_content\">\n<div class=\"section_wrapper\">\n<div class=\"the_content_wrapper\">\n<div>\n<p>Answer all of the following questions\/problems and submit them to your mentor in a Word document.<\/p>\n<p>You should use a financial calculator and Excel to solve the problems.<\/p>\n<p>Remember:\u00a0You must export your table(s) from Excel to Word before submitting your work.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li>Discuss the importance of financial statements and how they are used by businesses.<\/li>\n<\/ol>\n<ol>\n<li>What is the basic format of the income statement and what is the relevance of the basic categories?<\/li>\n<\/ol>\n<ol>\n<li>Cash flows for an organization come from operating activities and investment activities. Discuss the importance of each to the organization.<\/li>\n<\/ol>\n<ol>\n<li>The Happy Auto Shop has the following annual information:<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<div>\n<table>\n<colgroup>\n<col width=\"167\" \/>\n<col width=\"69\" \/><\/colgroup>\n<tbody>\n<tr>\n<td>Gross Sales<\/td>\n<td>$700,000<\/td>\n<\/tr>\n<tr>\n<td>Net sales<\/td>\n<td>$696,000<\/td>\n<\/tr>\n<tr>\n<td>Gross profit<\/td>\n<td>$448,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>What are the shop\u2019s returns and allowances and cost of goods sold?<\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li>Construct a statement of financial position (balance sheet) for the Humperdink family using the following information:<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<div>\n<table>\n<colgroup>\n<col width=\"167\" \/>\n<col width=\"69\" \/><\/colgroup>\n<tbody>\n<tr>\n<td>cash<\/td>\n<td>$50<\/td>\n<\/tr>\n<tr>\n<td>Checking account<\/td>\n<td>$2,500<\/td>\n<\/tr>\n<tr>\n<td>student loan balance<\/td>\n<td>$6,000<\/td>\n<\/tr>\n<tr>\n<td>stocks and bonds<\/td>\n<td>$2,600<\/td>\n<\/tr>\n<tr>\n<td>savings account<\/td>\n<td>$5,850<\/td>\n<\/tr>\n<tr>\n<td>residence<\/td>\n<td>$110,000<\/td>\n<\/tr>\n<tr>\n<td>automobile<\/td>\n<td>$12,000<\/td>\n<\/tr>\n<tr>\n<td>savings account<\/td>\n<td>$5,800<\/td>\n<\/tr>\n<tr>\n<td>automobile loan balance<\/td>\n<td>$12,000<\/td>\n<\/tr>\n<tr>\n<td>401K retirement account<\/td>\n<td>$15,000<\/td>\n<\/tr>\n<tr>\n<td>furniture, clothing, jewelry<\/td>\n<td>$8,000<\/td>\n<\/tr>\n<tr>\n<td>credit card balance<\/td>\n<td>$4,000<\/td>\n<\/tr>\n<tr>\n<td>mortgage loan balance<\/td>\n<td>$99,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<ol>\n<li>What is the purpose of financial statement analysis? \u00a0How do the three types of financial statement analysis differ from each other and when is each used?<\/li>\n<\/ol>\n<ol>\n<li>Samantha Knight is applying for a small-business loan. She provides the bank with the following information:<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<div>\n<table>\n<colgroup>\n<col width=\"176\" \/>\n<col width=\"84\" \/><\/colgroup>\n<tbody>\n<tr>\n<td>cash in checking accounts<\/td>\n<td>$5,000<\/td>\n<\/tr>\n<tr>\n<td>cash in savings<\/td>\n<td>$10,350<\/td>\n<\/tr>\n<tr>\n<td>home market value<\/td>\n<td>$145,500<\/td>\n<\/tr>\n<tr>\n<td>first mortgage on house<\/td>\n<td>$25,000<\/td>\n<\/tr>\n<tr>\n<td>home equity loan limit<\/td>\n<td>$70,000<\/td>\n<\/tr>\n<tr>\n<td>home equity loan<\/td>\n<td>$10,000<\/td>\n<\/tr>\n<tr>\n<td>automobile market value<\/td>\n<td>$19,000<\/td>\n<\/tr>\n<tr>\n<td>automobile loan outstanding<\/td>\n<td>$15,000<\/td>\n<\/tr>\n<tr>\n<td>credit card debt<\/td>\n<td>$1,500<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li>Calculate the debt-to-asset ratio.<\/li>\n<li>Calculate the debt-to-equity ratio.<\/li>\n<li>What percentage of Samantha\u2019s assets is owned by others?<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<ol>\n<li>Given the profit loss (income statement) and balance sheet for Sam\u2019s Sandwich Delivery (Table 4-8, page 121 of your textbook), answer the following:<\/li>\n<\/ol>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li>Calculate the following ratios: current, quick, accounts receivable turnover, fixed asset turnover.<\/li>\n<li>Using the inventory figure on the balance sheet as average inventory, calculate the inventory turnover ratio.<\/li>\n<li>Calculate the debt-to-equity ratio, debt-to-total asset ratio, and operating profit margin ratio.<\/li>\n<li>Perform a vertical analysis of the income statement.<\/li>\n<li>Perform a vertical analysis of the balance sheet.<\/li>\n<li>Based on your analysis, would you consider investing in Sam\u2019s Sandwich Delivery?<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"section section-post-footer\">\n<div class=\"section_wrapper clearfix\">\n<div class=\"column one post-pager\"><\/div>\n<\/div>\n<\/div>\n<div class=\"section section-post-intro-share\">\n<div class=\"section_wrapper clearfix\">\n<div class=\"column one\"><\/div>\n<\/div>\n<\/div>\n<p><center><a href=\"http:\/\/onlineclassesguru.com\/orders\/ordernow\"><img decoding=\"async\" src=\"https:\/\/encrypted-tbn0.gstatic.com\/images?q=tbn:ANd9GcTyj99p60XCLyLk1htB7-1neRt8-2QdnenNlQ&usqp=CAU\"target=\"_http:\/\/onlineclassesguru.com\/orders\/ordernow\"\/><\/center><p>","protected":false},"excerpt":{"rendered":"<p>Answer all of the following questions\/problems and submit them to your mentor in a Word document. You should use a financial calculator and Excel to solve the problems. Remember:\u00a0You must export your table(s) from Excel to Word before submitting your work. &nbsp; &nbsp; &nbsp; Discuss the importance of financial statements and how they are used&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-13417","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Answer all of the following questions\/problems and submit them to your mentor in a Word document - onlineclassesguru<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/24\/answer-all-of-the-following-questions-problems-and-submit-them-to-your-mentor-in-a-word-document\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Answer all of the following questions\/problems and submit them to your mentor in a Word document - onlineclassesguru\" \/>\n<meta property=\"og:description\" content=\"Answer all of the following questions\/problems and submit them to your mentor in a Word document. 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