First Term Examination Finma

10/11/22, 5:43 PM FIRST TERM EXAMINATION FINMA
FIRST TERM EXAMINATION FINMA

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PROBLEM SOLVING PART 2.

KINDLY SUBMIT YOUR SOLUTION. HANDWRITTEN
PLS. ROUND YOUR ANSWER TO THE NEAREST TWO DECIMAL PLACES
FILENAME OF SOLUTION: 1ST_22SOL
IF VALUE IS 2,500 WRITE 2,500
IF VALUE IS 2,500.5 WRITE 2,500.50
IF VALUE IS 2,500.524 WRITE 2,500.52
IF VALUE IS 2,500.546 WRITE 2,500.55
IF DECIMAL ONLY, WRITE 0.23
IF PERCENT: 1%
IF PERCENT UP TO TWO DECIMAL PLACES: 10.20%
IF NUMBER OF DAYS ROUND, NO DECIMAL PLACES

IF NUMBER OF DAYS IS 10.56 WRITE 11
IF NUMBER OF DAYS IS 10.12 WRITE 10
https://docs.google.com/forms/d/e/1FAIpQLSenIDSwi0VUyQ2cnim6KxBpO2OF98lRRXg2HgaetSmECTi0fw/formResponse 1/8
wyenard company asked you to interpret the following ratios provided by * 2 points
its accountant on december 31, 2021: acid test ratio_1.2 time

interest earned_8 gross margin ratio_40% inventory turnover_6
debt-to-equity ratio_0.9 to 1 ratio of operating expenses to sales_15%
the SHEquity on dec 31, 2021
was_P900,000 gross margin for 2021 amounted to_P600,000
beginning balance of merchandise inventory was_P200,000
the company's long term liabilities consisted of bonds payable
with interest rate at_15%. You decided to reconstruct the company's
financial statements based on the limited information given to serve as
basis for further analysis BONDS PAYABLE for 2021?
312500
basis for further analysis CURRENT LIABILITIES for 2021?
497500
basis for further analysis OPERATING INCOME for 2021?
375000
WYENARD Company had sales of P30,000, increase in accounts

payable * 2 points
of P5,000, decrease in accounts receivable of P1,000, increase in
inventories of P4,000, and depreciation expense of P4,000. What was the
cash
collected from customers?
31000
Selected data from WYENARD Company’s year-end

financial statements * 2 points
are presented below.
The difference between average and ending
inventory is immaterial.
Current Ratio_2.0
Quick ratio_1.5
Current
liabilities_P120,000
Inventory
turnover (based on cost of sales)_8 times
Gross
profit margin_40%
WYENARDS net sales for the year were
800000
COSTwyenard company asked you to interpret the following ratios * 2 points
provided by its accountant on december 31, 2021: acid test ratio_1.2

time interest earned_8 gross margin ratio_40% inventory
turnover_6 debt-to-equity ratio_0.9 to 1 ratio of operating expenses
to sales_15% the SHEquity on dec 31,
2021 was_P900,000 gross margin for 2021 amounted
to_P600,000 beginning balance of merchandise inventory
was_P200,000 the company's long term liabilities consisted
of bonds payable with interest rate at_15%. You decided to reconstruct the
company's financial statements based on the limited information given to
serve as basis for further analysis TOTAL ASSET for 2021?
697000
The following data were obtained from the

records of WYENARD * 2 points
Company:
Current
ratio (at year End)_1.5
to 1
Inventory
turnover based on sales and ending inventory_15
times
Inventory
turnover based on cost of goods sold and ending inventory_10.5
times
Gross
margin for 2021_P360,000
What was WYENARDS Company’s December 31, 2021 balance in the

Inventory account?
80000
WYENARD has a total asset turnover of 0.30 and a profit margin of 10%. * 2 points
the president is unhappy with the current ROA & he thinks it could be
doubled by increasing the profit margin (PM) to 15%. what new asset
turnover ratio, along with the 15% PM is required to double the ROA?
40%

basis for further analysis QUICK ASSETS for 2021?
597000
basis for further analysis CURRENT ASSETS for 2021?
597000
basis for further analysis ENDING INVENTORY for 2021?
100000
COSTwyenard company asked you to interpret the following ratios * 2 points

provided by its accountant on december 31, 2021: acid test ratio_1.2
time interest earned_8 gross margin ratio_40% inventory
turnover_6 debt-to-equity ratio_0.9 to 1 ratio of operating expenses
to sales_15% the SHEquity on dec 31,
2021 was_P900,000 gross margin for 2021 amounted
to_P600,000 beginning balance of merchandise inventory
was_P200,000 the company's long term liabilities consisted
of bonds payable with interest rate at_15%. You decided to reconstruct the
company's financial statements based on the limited information given to
serve as basis for further analysis COST OF GOODS SOLD
for 2021?
900000
The average age of inventory is 90 days, the average age of accounts * 2 points
payable is 60 days and the average age of accounts receivable is 65 days,
the number in days the cash flow cycle is
95
The times interest

earned ratio of WYENARD Company is 4.5 times.
The * 2 points
interest expense for the year was P20,000, and the company’s tax
rate is
40%. The company’s net income
is:
42000
Page 5 of 5
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10/11/22, 5:43 PM FIRST TERM EXAMINATION FINMA

FIRST TERM EXAMINATION FINMA

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PROBLEM SOLVING PART 2.

FILENAME OF SOLUTION: 1ST_22SOL

IF DECIMAL ONLY, WRITE 0.23

IF PERCENT UP TO TWO DECIMAL PLACES: 10.20%

IF NUMBER OF DAYS ROUND, NO DECIMAL PLACES

its accountant on december 31, 2021: acid test ratio_1.2 time

WYENARD Company had sales of P30,000, increase in accounts

Selected data from WYENARD Company’s year-end

WYENARDS net sales for the year were

COSTwyenard company asked you to interpret the following ratios * 2 points

provided by its accountant on december 31, 2021: acid test ratio_1.2

The following data were obtained from the

What was WYENARDS Company’s December 31, 2021 balance in the

its accountant on december 31, 2021: acid test ratio_1.2 time

COSTwyenard company asked you to interpret the following ratios * 2 points

The times interest

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