3. The following data were taken from the statement of affairs of Malakas Company: Book Value Fair Value Book Value Assets: Liabilities: Cash P6,000 Accounts receivable 60,000 Accounts payable Wages payable (all have priority) P6,000 P95,000 60,000 Inventories 90,000 65,000 9,500 Land 100,000 80,000 Taxes Payable 14,000 Notes payable (secured by AR and Inventories) 160,000 100,000 Interest on notes payable Building (net) 220,000 190,000 Equipment (net) 250,000 5,000 Bonds payable (secured by land and buildings) 220,000 11,000 Interest on bonds payable What is the estimated deficiency to unsecured creditors? • P73,000 • P73,500 • P68,000 P68,500
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- Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Ratio of fixed assets to long-term liabilitiesThe following is selected financial data from Block Industries: How much does Block Industries have in current liabilities? A. $19,800 B. $18,300 C. $12,300 D. $25,800Calculate the following for Co. XYZ: a. Current ratio b. Debt ratio Assets: Cash and marketable securities $400,000 Accounts receivable 1,415,000 Inventories 1,847,500 Prepaid expenses 24,000 Total current assets $3,686,500 Fixed assets 2,800,000 Less: accumulated depreciation 1,087,500 Net fixed assets $1,712,500 Total assets $5,399,000 Liabilities: Accounts payable $600,000 Notes payable 875,000 Accrued taxes Total current liabilities $1,567,000 Long-term debt 900,000 Owner's equity Total liabilities and owner's equity Co. XYZ Income Statement: Net sales (all credit) $6,375,000 Less: Cost of goods sold 4,375,000 Selling and administrative expense 1,000,500 Depreciation expense 135,000 Interest expense Earnings before taxes $765,000 Income taxes Net income Common stock dividends $230,000 Change in retained earnings
- XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.): Current Ratio ? times…The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1Assets Cash $115 $38Accounts receivable (net) 66 47Inventories 41 26Land 94 107Equipment 53 41Accumulated depreciation-equipment (14) (7)Total Assets $355 $252Liabilities and Stockholders' EquityAccounts payable (merchandise creditors)$45 $38Dividends payable 7…JEY-4322 Inc. reported the following data for last year: JEY-4322 Inc.Balance Sheet Beginning BalanceEnding BalanceAssets Cash$ 128,000$ 139,000Accounts receivable331,000481,000Inventory567,000471,000Plant and equipment, net894,000869,000Investment in Tesla Inc.400,000428,000Land (undeveloped)246,000249,000Total assets$ 2,566,000$ 2,637,000Liabilities and Stockholders' Equity Accounts payable$ 382,000$ 341,000Long-term debt981,000981,000Stockholders' equity1,203,0001,315,000Total liabilities and stockholders' equity$ 2,566,000$ 2,637,000 JEY-4322 Inc.Income StatementSales $ 3,880,000Operating expenses 3,336,800Net operating income 543,200Interest and taxes: Interest expense$ 111,000 Tax expense197,000308,000Net income $ 235,200 JEY-4322 Inc. paid dividends of $123,200 last year. The “Investment in Tesla Inc.” item on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return is 15%. What was the company’s residual income…
- Using the data given below, compute for the total amount of items that meet the definition of financial asset Cash P 100,000 Fair value through profit or loss securities 500,000 Investment in associate 2,000,000 Trade receivable 1,000,000 Inventories 800,000 Prepaid insurance 50,000 Interest rate swap receivable 200,000 Investment in debt securities – FVTOCI 400,000 Investment in debt securities – AC 350,000 Land 2,000,000 Buildings 3,000,000 Machinery and equipment 1,500,000 Patents 250,000The latest statement of financial position for Malorie Limited is summarized below: GH¢'000 GHc '000 GH 000 Non-current assets (NBV) 5.700 Current assets Inventory 3.500 Receivables 1.800 5.300 Current liabilities Unsecured payables 4.000 Unsecured Bank overdraft 1.600 5.600 (300) Total assets less current liabilities 5.400 Non-Current Liabilities 10% secured debentures (13.000 Net assets 2,400 Financed by: Stated capital Income Surplus 4.000 (1.600) 2.400 Malorie's stated capital consists of 4.000.000 ordinary shares issued at GHel.00 and fully paid. The non-current assets comprise freehold property with a book value of GH¢3.000.000 and plant and machinery with a book value of GHc2,700,000. The debentures are secured on the freehold property In recent years the company has suffered a series of trading losses which have brought it to the point of liquidation. The directors estimate that in a forced sale the assets will realize the following amounts. GHSFreehold premises Plant and…If the company's assets in TL: cash 100.000, accounts receivable 50.000, inventory 150.000, and building 200.000 (market value 300.000) and the liabilities 300.000. How much is the net assets under recorded value approach? Select one: a. 300.000 b. 400.000 c. 200.000 d. 600.000
- How can I translate the following balance sheet using the current-noncurrent method and the monetary nonmonetary method when: re-evaluates from $0.15 = CNY1 to $0.1875 = CNY1 re-evaluates from $0.15 = CNY1 $0.1125 = CNY1 Shanghai Corporation Balance Sheet (000's CNY) Assets Liabilities Cash 5,000 Acc. Payable 21,000 Acc. Receivables 14,000 Long-Term Debt 27,000 Inventories (cost = 24,000) 22,000 Fixed Assets, net 39,000 Stockholder's equity 32,000 Total Assets 80,000 Total Liab & SE 80,000 ThanksThe following selected information is shown in the financial statements of CCC Company: Cash and cash equivalents205,000 Prepaid expense100,000 Inventories150,000 Trade and other receivables180,000 Total Non-Current Assets1,800,000 Total Liabilities1,500,000 Shareholders` Equity1,000,000 Net Sales1,300,000 In the common size statement of financial position, prepaid expense will have a proportional percentage of? The Gross Profit of BBB Company for the year ended December 31, 2016 id 65% with an absolute value of 850,000. The operating expenses has a proportional percentage of 20%. How much is the absolute peso amount of the operating expenses?Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne EnterprisesCurrent assets:Cash and cash equivalents $ 2,494 $ 541Current investments 125Net receivables 1,395 217Inventory 10,710 8,600Other current assets 773 301Total current assets $15,372 $9,784Current liabilitiesCurrent debt $ 1,321 $ 47Accounts payable 8,871 5,327Other current liabilities 1,270 2,334Total current…