cases

cases

i attached a document for case 7, just rewriting the answers
limit each case to 1 page answers

case_8

case_10

20190321004434case_9 (1)

case_7

Week 3 Just for Feet (AC503) – Brenda Harris

 

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1.Prepare common-sized balance sheets and income statements for Just for Feet for the period 1996-1998.  Also compute key liquidity, solvency, activity, and profitability ratios for 1997 and 1998.  Given these data, comment on what you believe were the high-risk financial statement items for the 1998 Just for Feet audit

The following is a Balance sheet for Just for Feet in reference to the financial years ’96 to ‘98

  98 97 96        98 97 96
Cash & Cash Equivalent $12,412 $82,490 $138,785 1.8% 18.4% 36.9%
Marketable Securities     $33,961     9.0%
Accounts Receivable $18,875 $15,840 $6,553 2.7% 3.5% 1.7%
Inventory $399,901 $206,128 $133,323 58.0% 46.0% 35.5%
Other Current Assets $18,302 $6,709 $2,121 2.7% 1.5% 0.6%
Total Current Assets $449,490 $311,167 $314,743 65.2% 69.4% 83.7%
Plant, Property & Equipment $160,592 $94,529 $54,922 23.3% 21.1% 14.6%

(2,676 words)

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