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| Privett Company | |
| Accounts payable | $30,000 |
| 35,000 | |
| Accrued liabilities | 7,000 |
| Cash | 25,000 |
| Intangible assets | 40,000 |
| Inventory | 72,000 |
| Long-term investments | 100,000 |
| Long-term liabilities | 75,000 |
| Marketable securities | 36,000 |
| Notes payable (short-term) | 20,000 |
| Property, plant, and equipment | 400,000 |
| Prepaid expenses | 2,000 |
Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point?
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- Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital expenditures of $112,900, cash dividends of $35,800, and average maturities of long-term debt over the next 5 years of $122,300. What is Chasses free cash flow and cash flow adequacy ratio? a. $94,300 and 0.77, respectively c. $130,100 and 1.06, respectively b. $94,300 and 0.82, respectively d. $165,900 and 1.36, respectivelyDuring 20X1, Craig Company had the following transactions: a. Purchased 300,000 of 10-year bonds issued by Makenzie Inc. b. Acquired land valued at 105,000 in exchange for machinery. c. Sold equipment with original cost of 810,000 for 495,000; accumulated depreciation taken on the equipment to the point of sale was 270,000. d. Purchased new machinery for 180,000. e. Purchased common stock in Lemmons Company for 82,500. Required: 1. Prepare the net cash from investing activities section of the statement of cash flows. 2. CONCEPTUAL CONNECTION Usually, the net cash from investing activities is negative. How can Craig cover this negative cash flow? What other information would you like to have to make this decision?Problem BPeter Senen Corporation provided the following account balances as of September 30, 2020: CashP112,000 Accumulated depreciationP 36,000Accounts Receivable64,000Accounts payable 40,000Finished Goods48,000Income tax payable9,000Work in process 36,000 Share Capital500,000Raw materials 52,000 Retained Earnings207,000Property and Equipment480,000The following transactions occurred during October:1. Materials purchased on account, P150,0002. Materials issued to production: direct materials- P90,000, Indirect materials- P10,000.3. Payroll for the month of October 2020 consisted of the following (also paid during the month):Direct labor P62,000Administrative salariesP16,000Indirect Labor 20,000Sales salaries 30,000Payroll deductions were as follows:Withholding taxes P19,800Phil health contributions P2,000SSS contributions 7,100HDMF contributions 2,0004. Employer contributions for the month were accrued:FactorySellingAdministrativeSSS contributionsP5,700P2,000P1,100Philhealth…
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- SNIDER CORPORATIONBalance SheetDecember 31, 20X1 Assets Current assets: Cash $ 52,200 Marketable securities 24,400 Accounts receivable (net) 222,000 Inventory 238,000 Total current assets $ 536,600 Investments 65,900 Plant and equipment. $615,000 Less: Accumulated depreciation 271,000 Net plant and equipment 344,000 Total assets $ 946,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 93,400 Notes payable 70,600 Accrued taxes 17,000 Total current liabilities $ 181,000 Long-term liabilities: Bonds payable 153,200 Total liabilities $ 334,200 Stockholders' equity Preferred stock, $50 par value $ 100,000 Common stock, $1 par value 80,000 Capital paid in excess of par 190,000 Retained earnings 242,300 Total stockholders' equity $ 612,300 Total liabilities and stockholders' equity $ 946,500…Celloscope Ltd. Balance Sheet 31-Dec-19 Current Assets Cash 18000 Accounts Receivable 20000 Inventory 12000 Prepaid Insurance 600 Sub total 50600 Non-current Assets Land 80000 Building 60000 Less: Accumulated Depreciation 10,000 50000 Sub total 130000 Total Assets 180600 Current Liabilities Accounts payable 50000 Taxes Payable 8000 Sub total 58000 Non-Current Liabilities Bonds Payable (10%) 40000 40000 Owners’ Equity Share Capital 60000 Retained Earning 22600 Sub total 82600 Total Liabilities and Owners’ Equity 180600 The following are expected in the next 3 months January…Title INGRAM INDUSTRIES Balance Sheet June 30, 2008 Assets Current assets: Cash (including $13,000 in... Description INGRAM INDUSTRIES Balance Sheet June 30, 2008 Assets Current assets: Cash (including $13,000 in sinking fund for bonds payable) $ 70,000 Marketable securities 23,400 Investment in subsidiary company 23,000 Accounts receivable 21,000 Inventories (lower-of-cost-or-market) 117,00 $254,400 Plant assets: Land and buildings $160,000 Less: Accumulated depreciation 100,000 60,000 Investments: Treasury stock 4,000 Deferred charges: Discount on bonds payable $ 6,000 Prepaid expenses 2,000 8,000 Total Assets $326,400 Liabilities and Stockholders’ Equity Liabilities: Notes payable to bank $ 60,000 Accounts payable 18,000 Bonds payable 61,000 Total liabilities $139,000 Stockholders’ equity: Preferred and common (each $10 par, 5,000 shares preferred and 6,000 shares common) $110,000 Capital in excess of par 61,000 Retained earnings 16,400 187,400 Total liabilities and…
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