Assume that Jasper Electronics completed these selected transactions during March 2014: a. Sales of $ 2,100,000 are subject to estimated warranty cost of 2 %. The estimated warranty payable at the beginning of the year was $ 34,000, and warranty payments for the year totaled $ 57,000. b. On March 1, Jasper Electronics signed a 45,000 note payable that requires annual payments of $ 9,000 plus 4 % interest on the unpaid balance each March 2. c. Music For You, Inc., a chain of music stores, ordered $ 135,000 worth of CD players. With its order, Music For You, Inc., sent a check for $ 135,000 in advance, and Jasper shipped $ 80,000 of the goods. Jasper will ship the remainder of the goods on April 3, 2014. d. The March Payroll of $ 260,000 is subject to employee withheld income tax of 30,000 and FICA tax of 7.65 %. On March 31, Jasper pays employees their takehome pay and accrues all tax amounts.
1. Report these items on Jasper Electronics ' balance sheet at March 31, 2014.
E9-29A Companies that operate in different industries may have very different financial ratio values. These differences may grow even wider when we compare companies located in different countries.( Click the icon to view the financial statements.) Requirement
1 Compare three leading companies on their current ratio, debt ratio, leverage ratio, and times-interest-earned ratio. Compute the ratios for Company BB, Company NN, and Company QQ. Based on your computed ratio values, which company looks the least risky?