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$$\text{Unknown environment 'tabular'}$$ kp2et on the information above, answer the following questions. a) Calculate the current ratio as at June 30, 2023 . b) Does Cloutier Inc. have a good or bad current ratio? Explain why or why not. c) Calculate the inventory days on hand ratio as at June 30, 2023. (Since this is for the month, do not multiply by 365 in the formula. Instead multiply by 31 days.) d) Last month, the inventory days on hand ratio was 12 days. Has the ratio improved? Why or why not? e) Calculate the debt to equity ratio as at June 30, 2023. f) Calculate the gross profit margin as at June 30, 2023. g) Last month, the gross profit margin percentage was 63%. What could have caused this decrease in gross margin percentage? h) Calculate the inventory turnover as at June 30, 2023. i) If inventory turnover last month was 2.58 is the company holding on to inventory for a longer or shorter period of tim 1) prepare a multistep income statement. 2) Prepare a calculation of retained earnings Notes: Round unit cost to 2 decimal places, then apply to quanity sold when determining total cost of goods sold. Use this chart to keep track of inventory values The inventory figure includes 950 units purchased at $40.00 each. Notes: Round unit cost to 2 decimal places, then apply to quanity sold when determining total cost of goods sold. Use this chart to keep track of inventory values The inventory figure includes 950 units purchased at $40.00 each. $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ commerce. It is shown below. Additional Information: a) The $21,500 is already recorded in the ledger last month. b) Cheque number of the company has (4) digits. Required: Prepare the June bank reconciliation for Cloutier Inc. using the bank statement and general ledger provided. Compare the information in the general ledger to the bank statement. Once reconciled, record the relevant journal entries in the general journal and post the entries in the general ledger to bring the company's record up to date. Required: a) Prepare the journal entries for the month of June. You will also need to update the inventory in the table for each purchase and sale, return or allowance, found under the Inventory Valuation tab of this workbook. b)Enter the opening balances of the accounts from the opening balance sheet and post the above journal entries to the account. c) Complete the bank reconciliation report. d) Record the journal entries from the bank reconciliation and post amounts to general ledger accounts. e) Complete the 10-column worksheet. f) Post the adjusting entries to the accounts. g) Journalize and post the adjustments. h) Prepare the multistep income statement, calculation of retained earnings, classified balance sheet found under the financial statements tab of this workbook. i) Answer the analysis questions from ' a ' to ' i ' found under the financial statements tab of this workbook. Transactions for the month of June: At the end of June, the following adjustment had to be journalized to properly report the balances of the company's accounts: $$\text{Unknown environment 'tabular'}$$ General Ledger Accounts $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ Required: Using the balances of the General Ledger accounts as of June 30, complete the financial statements. Cloutier Inc., set up as a privately held corporation, operating as a ready to wear garments retailer, of which 100% of the Common Shares are owned by Bryan Cloutier. You were hired to account for transactions for the month of June 2023, complete month end processing, prepare the financial statements and perform a financial ratio analysis as of the end of that month. They use perpetual inventory system and use the weigted average method to determine value for the inventory. Its balance sheet as at May 31, 2023, is presented below. The bank loan has an annual interest rate of 9% and has monthly principal payment of $1,665. 1) prepare a classified balance sheet. Assume that $19,980 of the bank loan will be paid off in the 12 months. $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ kp2et on the information above, answer the following questions. a) Calculate the current ratio as at June 30, 2023 . b) Does Cloutier Inc. have a good or bad current ratio? Explain why or why not. c) Calculate the inventory days on hand ratio as at June 30, 2023. (Since this is for the month, do not multiply by 365 in the formula. Instead multiply by 31 days.) d) Last month, the inventory days on hand ratio was 12 days. Has the ratio improved? Why or why not? e) Calculate the debt to equity ratio as at June 30, 2023. f) Calculate the gross profit margin as at June 30, 2023. g) Last month, the gross profit margin percentage was 63%. What could have caused this decrease in gross margin percentage? h) Calculate the inventory turnover as at June 30, 2023. i) If inventory turnover last month was 2.58 is the company holding on to inventory for a longer or shorter period of tim 1) prepare a multistep income statement. 2) Prepare a calculation of retained earnings Notes: Round unit cost to 2 decimal places, then apply to quanity sold when determining total cost of goods sold. Use this chart to keep track of inventory values The inventory figure includes 950 units purchased at $40.00 each. Notes: Round unit cost to 2 decimal places, then apply to quanity sold when determining total cost of goods sold. Use this chart to keep track of inventory values The inventory figure includes 950 units purchased at $40.00 each. $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ commerce. It is shown below. Additional Information: a) The $21,500 is already recorded in the ledger last month. b) Cheque number of the company has (4) digits. Required: Prepare the June bank reconciliation for Cloutier Inc. using the bank statement and general ledger provided. Compare the information in the general ledger to the bank statement. Once reconciled, record the relevant journal entries in the general journal and post the entries in the general ledger to bring the company's record up to date. Required: a) Prepare the journal entries for the month of June. You will also need to update the inventory in the table for each purchase and sale, return or allowance, found under the Inventory Valuation tab of this workbook. b)Enter the opening balances of the accounts from the opening balance sheet and post the above journal entries to the account. c) Complete the bank reconciliation report. d) Record the journal entries from the bank reconciliation and post amounts to general ledger accounts. e) Complete the 10-column worksheet. f) Post the adjusting entries to the accounts. g) Journalize and post the adjustments. h) Prepare the multistep income statement, calculation of retained earnings, classified balance sheet found under the financial statements tab of this workbook. i) Answer the analysis questions from ' a ' to ' i ' found under the financial statements tab of this workbook. Transactions for the month of June: At the end of June, the following adjustment had to be journalized to properly report the balances of the company's accounts: $$\text{Unknown environment 'tabular'}$$ General Ledger Accounts $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ Required: Using the balances of the General Ledger accounts as of June 30, complete the financial statements. Cloutier Inc., set up as a privately held corporation, operating as a ready to wear garments retailer, of which 100% of the Common Shares are owned by Bryan Cloutier. You were hired to account for transactions for the month of June 2023, complete month end processing, prepare the financial statements and perform a financial ratio analysis as of the end of that month. They use perpetual inventory system and use the weigted average method to determine value for the inventory. Its balance sheet as at May 31, 2023, is presented below. The bank loan has an annual interest rate of 9% and has monthly principal payment of $1,665. 1) prepare a classified balance sheet. Assume that $19,980 of the bank loan will be paid off in the 12 months. $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$ $$\text{Unknown environment 'tabular'}$$

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