A company has the following: Cash $ 10,000 A/R 20,000 Supplies 5,000 Inventory 35,000 Marketable Securities 10,000 Current Liabilities 40,000 Calculate the company's Working Capital
Q: Ute Company reported the following capital structure during the current year: 5% cumulative…
A: Answer:- Basic earning per share:- Investors can learn how much of a company's net income was…
Q: An asset was purchased for $58,000 and originally estimated to have a useful life of 10 years with a…
A: DEPRECIATION Depreciation is the decrease in the value of assets. Depreciation is the Gradually…
Q: Required information Exercise 10-3 (Algo) Record the issuance of common stock (LO10-2) Skip to…
A: Journal entries are the cornerstone of an organization's accounting system. All systems, whether…
Q: Required information [The following information applies to the questions displayed below.] Julio and…
A: The income statement is the financial document that shows the incomes or expenses for the period by…
Q: Case 1: Individual Plan Sammy's Service Center currently employs six technicians. The entire shop is…
A: Pay based on Flat rate hours is payment made on the basis of flat hours instead of actual hours…
Q: 13. How much is basic earnings per share? (Note: pay preferred shares dividends first) a. 2.40 b.…
A: The earnings per share is calculated as net income divided number of shares outstanding. The basic…
Q: Beau who just turned 33 works for Textile Industries and makes an annual income of $50,200.…
A: CPP or Canada Pension Plan is a contributory income-related social program which takes a part of…
Q: 2021 2020 2019 2018 2017 Sales $ 489,967 $ 322,347 $ 256,850 $ 180,880 $ 136,000 Cost of goods sold…
A: Trend percent is a method of expressing the financial figures of one accounting period as a…
Q: 120 30 Production Consumption Exports Stage 1 Stage 2 Imports Stage 3 150 90 30 Stage 1 Stage 2…
A: Graphical diagram is a pictorial depiction of any data or information such that it enables…
Q: 4) On September 1, 2022, Snowfall Ltd. (Snow) issued a $10,000, 6% bond payable. The market rate of…
A: a. September 1, 2022 Bank A/c ....Dr. $10,000 To 6% Bond $10,000 (…
Q: Please answer D, E and F Problem 14-15 (Algo) Comprehensive Ratio Analysis [LO14-2, LO14-3,…
A: A company's performance measuring tools in terms of profitability is the return on total assets…
Q: Carlos and Carla, a married couple in California, recently received an check in the amount of…
A: An inheritance is the process of transferring assets from a person to another after the death of the…
Q: 1. Materials are added at the start of the process in the first department of JG Manufacturing…
A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…
Q: Income Statement Net Sales Cost of Goods Sold Gross Profit Marketing General & Administrative…
A: Cash Flow Statement - Cash Flow Statement includes inflow and outflow of cash during the year. Such…
Q: Maryland Novelties Company produces and sells souvenir products. Monthly income statements for two…
A: Variable Cost :— It is the cost that changes with change in units. Variable cost per unit is…
Q: On March 12, Bill Jones accepted a $12,000 note in granting a time extension of a bill for goods…
A: Answer Correct option is = 2 nd option = $12163 Explanation : Maturity value on notes =…
Q: Bonnie’s charitable contributions and AGI for the four-year period are as follows: 2022 2023 2024…
A: Gross annual income refers to total profits before any deductions are made, whereas net annual…
Q: Check Your Progress 3 Why is it important for taxpayers to recognize the income tax deductions?…
A: A tax deduction is a claim made to lower your taxable income and is based on a taxpayer's numerous…
Q: Exercise 10-6 (Algo) Record common stock, preferred stock, and dividend transactions (LO10-2, 10-3,…
A: JOURNAL ENTRIES Journal Entry is the First stage of Process of Accounting. Journal is the Process…
Q: The following data relate to the overhead expenditure of a business at two activity levels. Square…
A: Overhead costs, commonly referred to as overhead or operating expenses, are those expenses incurred…
Q: On December 31, 2019, Palmer Company determined that the 2019 service cost on its defined benefit…
A: Pension plan is the plan incorporated by the company to pay the employees an income after their…
Q: Keller Corporation (the lessee) entered into a general equipment lease with Dallo Company (the…
A: Journal Entry are very important in every aspects of accounting as they are the basics of the…
Q: During its first year of operations, Vader Corp. issued 15,000 shares of its $1 par common stock f…
A: Common stock account is based on the par value of common shares issued. Common stock is not reduced…
Q: Exercise 10-6 (Algo) Record common stock, preferred stock, and dividend transactions (LO10-2, 10-3,…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Salah Global Products (SGP) is a manufacturer of sporting trophies and has factories across the…
A: Sales volume variance=(AQ-SQ)*SP Sales price variance=(AP-SP)*AQ Direct labour efficiency=(SH-AH)*SR…
Q: There is a relationship between cost accounting, financial accounting, and management accounting.…
A: Financial and management accounting are two of the most important branches of accounting. They are…
Q: Question 2 Davy Jones Ltd manufacturer of fine china and stoneware is troubled by the fluctuations…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: Nutritious Pet Food Company’s board of directors declares a cash dividend of $5,500 on June 30. At…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: Average net accounts receivable Average inventory Net cash provided by operating activities Capital…
A: when compared in the two companies regarding its liquidity solvancy and profitability position ,…
Q: CreatGordon paid the $10,000 balance of his Federal income tax three months late. Determine the…
A: As per IRS, the Interest is charged when a taxpayer fails to pay tax, penalty, and any additions to…
Q: Joe Flynn visits his local bank to see how long it will take for $1,200 to amount to $2,100 at a…
A: Simple interest rates are quite simple because there is no compounding of interest and only there is…
Q: Which of the following is an example of a deferral? O Interest earned on a bank account O A…
A: The deferred revenue and expenditures are the amount of revenue and expenses that would be recorded…
Q: 10. A proprietor who just inherited a building is considering using it in a new business venture.…
A: Opportunity Cost :— It means income forgone from the next best alternative, while accepting another…
Q: A business pays weekly salaries of P200,000 on Friday for a five-day workweek ending on that day. If…
A: All ledgers must be updated on an accrual basis at the end of an accounting period. It entails…
Q: Trusted Products Company makes a household appliance with model number L800. The goal for 2020 is to…
A: Operating income is the difference between income and operating expenses of the business. The…
Q: Req 1 to 3 Prepare journal entries to record (a) the copier's sale; (b) the adjustment to recognize…
A: When company sales the product and provides warranty on the sold product then it has to recognise…
Q: Which of the following accounts cannot be found in the post-closing trial balance? Land Capital…
A: POST CLOSING TRAIL BALANCE Post Closing Trail balance is represented the Ending Balance of all…
Q: A domestic corporation, adopted a public elementary school and contributed P500,000 for the…
A: If contribution is made within the taxable year, it shall be allowed limited deductibility in an…
Q: Question 1 The following costs were extracted from Red's company book at the end of December 2014…
A: Administrative cost indicates the expense being incurred by the business entity in the operation of…
Q: 12. Picnic Items, Inc. manufactures coolers of 10,000 units that contain a freezable ice bag. For an…
A: Relevant cost is the cost which is relevant in decision making . Relevant cost is incurred for…
Q: Eli Inc. issued $140,000 of 10% annual, 5-year bonds for $142,600. What is the total amount of…
A: The bonds are the financial instruments for the business. They are used to raise money from the…
Q: E15-2 Xenia Corporation issued 3,000, 8%, 5 year, $1,000 bonds dated January 1, D12, at 100. 1)…
A: The bonds are issued at face value when market rate is equal to the coupon rate of bonds payable.…
Q: Bazzi et al (2019) study the American frontier and make clever use of names data from the census.…
A: Bazzi et al (2019) measure the ethnic diversity of the American frontier using names data from the…
Q: There are basic systems of cost accounting. What are the two basic systems of cost accounting, and…
A: The answer for the question on the basic systems of Cost Accounting is discussed hereunder : There…
Q: Aloha Co. received the following note: Face amount P 1,000,000…
A: When we receive lump sum amount after some years, we used to record income on year basis. To record…
Q: Cracker & Company sold merchandise to a customer on credit. The sale price was $8,000. What would…
A: Accounting equation is the main foundation of double-entry book keeping system. It shows the…
Q: Income Statement Net Sales Cost of Goods Sold Gross Profit Marketing General & Administrative…
A: Statement of Cash Flow - Statement of Cash Flow is a Statement that shows inflow and outflow of cash…
Q: Whirlwind Fan Company manufactures ceiling fans and uses an activity-based costing system. Each…
A: Solution.. Question 1 Total material handling cost per fan = Activity rate per parts * number…
Q: The income statement for Symbiosis Manufacturing Company for the year is as follows: Sales (10,000…
A:
Q: A company anticipates there will be a demand for 20,000 copies of a certain book during the next…
A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- CP 14–8 Assume the following income statement and balance sheet information: Service revenue (all cash) $175 Operating expenses Salaries (all cash)$ 85 Net income $90 2020 2019 Current assets Cash $1,250 $1,600 Short‐term invest. 100 200 $1,350 $1,800 Liabilities Borrowings 600 1,000 Stockholders’ equity Common stock 200 300 Retained earnings 550 500 750 800 $1,350 $1,800 Other information: The short‐term investments are riskless and will be converted to a known amount of cash in 60 days. Borrowings are non‐ current. No gain or loss occurred when common stock was repurchased. Required: Calculate cash flow from operating activities .2.Prepare…Need help with C & D (in millions) Target Kohl's Wal-Mart Company assumed value -- $13,487 $322,123 Equity assumed value -- $10,922 $272,541 Net operating assets $22,640 $8,092 $122,082 Book value of equity $11,300 $5,527 $72,500 Net nonoperating obligations (assets) $11,340 $2,565 $49,582 Common shares outstanding 510.9 159.0 shares 2,844.0 shares (a) Compute the price to net operating assets ratio for both Kohl's and Wal-Mart. Kohls 1.76 Wal-Mart 2.64 (b) Use Kohl’s and Walmart as comparables, along with the price to NOA ratios from part a, and then estimate for Target its company intrinsic value, its equity intrinsic value, and its equity intrinsic value per share. Average 2.16 Company intrinsic value $Answer million $48,902 Equity intrinsic value $Answer million $37,562 Equity intrinsic value per share $Answer $73.52 (c) Compute the PB ratio for both Kohl's and Wal-Mart. (d) Use Kohl's…CP 14-8Assume the following income statement and balance sheet information:Service revenue (all cash) Operating expenses Salaries (all cash) Net income$17585$90Current assets 2020 2019 Cash $1,250 $1,600 Short-term invest. 100 200 $1,350 $1,800 Liabilities Borrowings 600 1,000 Stockholders' equity Common stock 200 300 Retained earnings 550 500 750 800 $1,350 $1,800Other information: The short-term investments are riskless and will be converted to a known amount of cash in 60 days. Borrowings are non-current. No gain or loss occurred when common stock was repurchased.Required: 1. Calculate cash flow from operating activities. 2. Prepare the 2020 statement of changes in equity. 3. Calculate cash flow from financing activities. 4. (Appendix) Prepare a cash flow table. Show that cash effects net to a $450 outflow.
- ACCOUNTING ASAP Assume the following data: EBIT = 100; Depreciation = 40; Interest = 20; Dividends = 10. Calculate the cash coverage ratio. Select one: a. 7.0x b. 4.7x c. 14.0x d. 5.0xMarshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 20Y1 Assets Current assets Cash $1,013,530 $917,700 Marketable securities 1,533,990 1,520,760 Accounts receivable (net) 978,200 919,800 Inventories 730,000 569,400 Prepaid expenses 191,756 183,540 Total current assets $4,447,476 $4,111,200 Long-term investments 2,479,894 1,119,115 Property, plant, and equipment (net) 5,330,000 4,797,000 Total assets $12,257,370 $10,027,315 Liabilities Current liabilities $1,347,720 $1,776,965 Long-term liabilities: Mortgage note payable, 8% $1,840,000 $0 Bonds payable, 8% 2,260,000 2,260,000 Total long-term liabilities $4,100,000 $2,260,000 Total liabilities $5,447,720 $4,036,965 Stockholders' Equity Preferred $0.70 stock, $50 par $850,000 $850,000 Common stock, $10 par 970,000 970,000 Retained earnings 4,989,650…The following data apply to Jacobus and Associates (millions of dollars): Cash and marketable securities $ 100,00Fixed assets $ 283,50Sales $1.000,00Net Income $ 50,00Quick ratio 2,0Current ratio 3,0DSO 40,55 daysROE 12%Jacobus has no preferred stock – only common equity, current liabilities and long termdebt.a. Find Jacobus’s (1) Account receivable, (2) current liabilities, (3) current assets, (4)Total assets, (5) ROA, (6) common equity, and (7) long term debtb. in part a, you should have found Jacobus’s accounts receivable = $111,1 million. IfJacobus could reduce its DSO fro, 40,55 days to 30,4 days while holding other thingsconstant, how much cash would generate? If this cash were used to buy backcommon stock (at book value), this reducing the amount of common equity, howwould this affect (1) the ROE, (2) the ROA, (3) the ratio of total debt to total assets?
- Q16. Use the following information to calculate the net liquid balance: Cash and equivalents $10 Accounts receivable = $30, Inventory = $25, Accounts payable $10, Notes payable = $25 a. $-25 b. $-15 c. $35 d.$70 Q17. Which of the following best characterizes a firm with current assets of $5,000 and current liabilities of $1,000? A.Liquid B.Solvent C.Insolvent D.Unprofitable Q18. which of the following best describes days sales outstanding? A. average time it takes to collect on a credit sale B. average length of time inventoried item is in stock before it is sold C. average length of time it takes to turn a cash outflow into a cash inflow D. average time between receipt of inventory and collection on a credit sale Q20. The ability of a firm to pay its bills on time while remaining a viable entity is referred to as: A.liquidity B. solvency C. cash conversion cycle D.the net liquidity balanceData pertaining to the current position of Forte Company follow:Cash $412,500Marketable securities 187,500Accounts and notes receivable (net) 300,000Inventories 700,000Prepaid expenses 50,000Accounts payable 200,000Notes payable (short-term) 250,000Accrued expenses 300,000 Instructions1. Compute (a) the working capital, (b) the current ratio, and (c) the quick ratio. Round ratios in parts b through j to one decimal place.2. List the following captions on a sheet of paper:Transaction Working Capital Current Ratio Quick Ratio Compute the working capital, the…Particulars 31st Mar' 19 Amt (Rs) 31st Mar' 20 Amt (Rs) Land and Building 3600000 3600000 Cash 400000 320,000 Sundry Debtors 640000 800,000 Temporary Investments 400000 640,000 Stock 3680000 4320000 Prepaid Expenses 560000 24000 Plant and Machinery 1920000 3096000 Total Assets 11200000 12800000 Current Liabilities 1280000 1600000 Loans 3200000 3200000 Capital 4000000 4000000 Retained Earnings 936000 1624000 Statement of Profit for the Current Year 1st Apr to 31st Mar' 20 : Amt (Rs) Sales 8000000 Less: Cost of Goods Sold -5600000 Less: Interest -320000 Net Profit 2080000 Less: Taxes @ 50% -1040000 Profit after Tax 1040000 Profit Distributed 440000 Calculate Gross Profit Ratio Return on Equity
- Particulars 31st Mar' 19 Amt (Rs) 31st Mar' 20 Amt (Rs) Land and Building 3600000 3600000 Cash 400000 320,000 Sundry Debtors 640000 800,000 Temporary Investments 400000 640,000 Stock 3680000 4320000 Prepaid Expenses 560000 24000 Plant and Machinery 1920000 3096000 Total Assets 11200000 12800000 Current Liabilities 1280000 1600000 Loans 3200000 3200000 Capital 4000000 4000000 Retained Earnings 936000 1624000 Statement of Profit for the Current Year 1st Apr to 31st Mar' 20 : Amt (Rs) Sales 8000000 Less: Cost of Goods Sold -5600000 Less: Interest -320000 Net Profit 2080000 Less: Taxes @ 50% -1040000 Profit after Tax 1040000 Profit Distributed 440000 Calculate Current Ratio Debtors Turnover Ratio Stock Turnover Ratio Return on Total AssetsProblem #1 The following balance sheet and income statement data is given: 31-Dec Yr 2021 Yr 2020 Cash $4,300 $3,700 Accounts receivable (net) 22,000 23,400 Inventories 10,000 7,000 Plant assets (net) 75,000 86,000 Total assets 111,300 120,100 Accounts payable 12,370 11,100 Bonds payable 70,000 70,000 Total liabilities 82,370 81,100 Common stock, $10 par 65,000 59,000 Paid-in capital 10,000 10,000 Retained earnings 24,300 20,600 Total stockholders’ equity 99,300 89,600 Net credit sales 100,000 Cost of goods sold 60,350 Gross profit 39,650 Net income 14,000 REQUIRED: Compute the following ratios for 2021. NOTE: Copy and paste the information below into the answer box first and then show your calculation steps for this problem to receive credits. (1) Accounts receivable turnover=____________________ (2) Inventory turnover=__________________ (3) Accounts payable…Financial statement of ABC 31/12/2020 Notes receivable 20,000 Share capital (180,000stocks/face value 2€) 360,000 Taxes payable 15,000 Retained earnings ? Reservations and contributions payable 25,000 Mortgage loan 100,000 Notes in delay 15,000 Cash desk 40,000 Notes payable 25,000 Demand deposit 100,000 Goods 50,000 Securities 20,000 Packaging materials 17,000 Participations 34,500 Suppliers 20,000 Building (estimated life 20years/residual value 20,000) 220,000 Deposit-advanced payment of suppliers 5,000 Depreciated buildings 50,000 Deposit-advanced payment of customers 20,000 Furniture (estimated life 10years/residual value 1,000) 40,000 Customers 15,000 Depreciated furniture 39,000 Debtors 30,000 Economic unit 30,000 Difference above par 30,000 Track (estimated life 10years/residual value5,000) 70,000 Depreciated track value 58,500 Prepaid insurance 3,000 Negotiable promissory notes…