ASSETS CASH 000T ACCOUNT RECEIVABLE 000 INVENTORY 000 TOTAL CURRENT ASSETS 000 LIABILITIES ACCOUNT PAYABLE 000 CURRENT LONG TERM DEBT TOTAL CURRENT LIABILITIES 000T LONG TERM DEBTS 000 TOTAL LIABILITIES 1500 OWNERS EQUITY 000
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Gary corporation has a price to book ratio of 1.2 and have 100,000 shares outstanding. Consider the following information( in Thousands)( in attached image).
a)Calculate the stock price using the price to book ratio.
b) If their stock price is listed on the stock market at $23 , should stock holder sell or hold the stock?
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Solved in 4 steps with 2 images
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- LO1 - Describe the specific elements of the balance sheet (assets, liabilities, and owners’ equity), and prepare a balance sheet with assets and liabilities properly classified into current and noncurrent categories. A balance sheet contains the following classifications: (a) Current assets (b) Investments (c) Property, plant, and equipment (d) Intangible assets (e) Other noncurrent assets (f) Current liabilities (g) Long-term debt (h) Other noncurrent liabilities (i) Capital stock (j) Additional paid-in capital (k) Retained earnings Indicate by letter how each of the following accounts would be classified. Place a minus sign (-) for all accounts representing offset or contra balances. Discount on Bonds Payable Stock of Subsidiary Corporation 3.12% Bonds Payable (due in six months) U.S. Treasury Bills Income Taxes Payable Sales Taxes Payable Estimated Claims under Warranties for Service and Replacements Par Value of Stock Issued and Outstanding Unearned Rent Revenue (six months…is there any chance these other calculcations could be done please? thank you :) Return on Capital Employed(v) Asset turnover(vi) Non-current asset turnover(vii) Current Ratio(viii) Quick Ratio(ix) Inventory days(x) Receivables days(xi) Payable days(xii) Interest coverLong-Term Liabilities are reported on a company's balance sheet at the present value of all future payments using Multiple Choice the current market interest rate the interest rate provided by the Government the prime interest rate none of these the market interest rate at the time the liability was incurred
- Listed below are several terms and phrases associated with current liabilities. Pair each item from List A (by letter) with the item from List B that is most appropriately associated with it. List A List B 1. Interest expense is recorded in the period interest is incurred rather than in the period interest is paid. 2. Payment is reasonably possible and is reasonably estimable. 3. Cash, current investments, and accounts receivable all divided by current liabilities. 4. Payment is probable and is reasonably estimable. 5. Gift cards. 6. Long-term debt maturing within one year. 7. Social Security and Medicare. 8. Unsecured notes sold in minimum denominations of $25,000 with maturities up to 270 days. 9. Classifying liabilities as either current or long-term helps investors and creditors assess this. 10. Incurred on notes payable. a. The riskiness of a business’s obligations. b. Current portion of long-term debt. c. Recording a contingent liability. d. Disclosure of a contingent…Asset value = monthly debt payments + equity True FalseAccount Titles Debit CreditCash $ 7Accounts Receivable 3Supplies 3Equipment 9Accumulated Depreciation $ 2Software 6Accumulated Amortization 2Accounts Payable 4Notes Payable (short-term) 0Salaries and Wages Payable 0Interest Payable 0Income Taxes Payable 0Deferred Revenue 0Common Stock 15Retained Earnings 5Service Revenue 0Depreciation Expense 0Amortization Expense 0Salaries and Wages Expense 0Supplies Expense 0Interest Expense 0Income Tax Expense 0Totals $ 28 $ 28Transactions during 2018 (summarized in thousands of dollars) follow:Borrowed $25 cash on July 1, 2018, signing a six-month note payable.Purchased equipment for $28 cash on July 2, 2018.Issued additional shares of common stock for $5 on July 3.Purchased software on July 4, $3 cash.Purchased supplies on July 5 on account for future use, $7.Recorded revenues on December 6 of $58, including $8 on credit and $50 received in…
- The most important non-cash item isa) Debt interest rateb) Income taxc) Dividendd) DepreciationThe result of subtracting liabilities from assets is known as: a) net worth b) years c) bonds d) fixed assetsThe current ratio isa. calculated by dividing current liabilities by current assets. b. used to evaluate a company's liquidity and short-term debt paying ability c. used to evaluate a company's solvency and long-term debt paying ability. d. calculated by subtracting current liabilities from current assets.