ACG3173 Exam 2 Practice
Authored by Cassie Acevedo
Mathematics
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CCSS covered
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1.
FILL IN THE BLANKS QUESTION
15 mins • 1 pt
The following is a summary of information presented on the financial statements of a company on December 31, 20X9.
With respect to net sales revenue, a horizontal analysis reveals a (a) % increase in net sales revenue. Note please answer to the nearest whole number percentage.
Answer explanation
20x9 Net Revenue
- 20x8 Net Revenue
Increase in Revenue
/ 20x8 Net Revenue
% Increase in Net Revenue
Tags
CCSS.6.RP.A.3C
2.
FILL IN THE BLANKS QUESTION
15 mins • 1 pt
The following is a summary of information presented on the financial statements of a company on December 31, 20X9.
With respect to long-term liabilities, a horizontal analysis reveals a (a) % decrease in long-term liabilities. Note please answer to the nearest whole number percentage.
Answer explanation
20x9 Long-Term Liabilities
- 20x8 Long-Term Liabilities
Decrease in Long-Term Liabilities
/ 20x8 Long-Term Liabilities
% Decrease in Long-Term Liabilities
Tags
CCSS.6.RP.A.3C
3.
FILL IN THE BLANKS QUESTION
15 mins • 1 pt
Starfruit Inc. provides the following data for the year 20X9:
Net Sales Revenue: $420,000
Cost of Goods Sold: $315,000
The cost of goods sold as a percentage of net sales revenue is (a) %. Note please answer to the nearest whole number percentage.
Answer explanation
Cost of Goods Sold
/ Net Sales Revenue
% Revenue of COGS
Tags
CCSS.6.RP.A.3C
4.
FILL IN THE BLANKS QUESTION
15 mins • 1 pt
Fig Company reported the following amounts on its balance sheet as of December 31, 20X9 and December 31, 20X8:
For the vertical analysis, what is the percentage of total liabilities expressed as a function of total assets for December 31, 20X8?
(a)
Answer explanation
20x8 Total Liabilities
/ 20x8 Total Assets
% of Total Liabilities
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.SSE.A.1
CCSS.HSA.REI.B.3
CCSS.HSA.CED.A.4
5.
FILL IN THE BLANKS QUESTION
15 mins • 1 pt
Avocado Company reported the following amounts on its balance sheet as of December 31, 20X9 and December 31, 20X8:
For the vertical analysis, what is the percentage of current assets expressed as a function of total assets as of December 31, 20X9?
(a)
Answer explanation
20x9 Cash and Receivables
+ 20x9 Merchandise Inventory
20x9 Total Current Assets
/ 20x9 Total Assets
% of 20x9 Current Assets
Tags
CCSS.6.RP.A.3C
6.
FILL IN THE BLANKS QUESTION
15 mins • 1 pt
The financial statements of Persimmon Company include the following items:
What is working capital for 20X9?
(a)
Answer explanation
20x9 Cash
+ 20x9 Short-Term Investment
+ 20x9 Net Account Receivables
+ 20x9 Merchandise Inventory
20x9 Current Assets
- 20x9 Total Current Liabilities
20x9 Working Capital
7.
FILL IN THE BLANKS QUESTION
15 mins • 1 pt
The financial statements for Banana Company include the following items:
Compute the current ratio for 20X8. Note please answer to two decimal places.
(a)
Answer explanation
Part 1:
20x8 Cash
+ 20x8 Short-Term Investments
+ 20x8 Net Accounts Receivable
+ 20x8 Merchandise Inventory
20x8 Current Assets
Part 2:
20x8 Accounts Payable
+ 20x8 Salaries Payable
20x8 Current Liabilities
Part 3:
20x8 Current Assets
/ 20x8 Current Liabilities
20x8 Current Ratio
Tags
CCSS.HSA.CED.A.4
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