Cash $146, 125 Retained Earnings $444, 150 Accounts Receivable 262, 500 Dividends 218, 750 Inventory 665,000 Sales 6,242,250 Estimated Returns Inventory 61,250 Cost of Goods Sold 3, 806, 250 Office Supplies 26,250 Sales Salaries Expense 680, 400 Prepaid Insurance 21,000 Advertising Expense 80, 325 Office Equipment 201,600 Depreciation Expense-Store Equipment 14, 525 Accumulated Depreciation- Office Equipment 86, 625 Miscellaneous Selling Expense 3,500 Store Equipment 895, 125 Office Salaries Expense 135,450 Accumulated Depreciation- Store Equipment 326,725 Rent Expense 69, 825 Accounts Payable 85,050 Insurance Expense 40, 163 Customer Refunds Payable 61,250 Depreciation Expense- Office Equipment 28, 350 Salaries Payable 16,800 Office Supplies Expense 2,887 Note Payable ( final payment due in five years) 94, 500 Miscellaneous Administrative 3,325 Common Stock 26, 250 Interest Expense 21,000 Instructions: Which of the list is administrative expenses?

Cash $146, 125 Retained Earnings $444, 150 Accounts Receivable 262, 500 Dividends 218, 750 Inventory 665,000 Sales 6,242,250 Estimated Returns Inventory 61,250 Cost of Goods Sold 3, 806, 250 Office Supplies 26,250 Sales Salaries Expense 680, 400 Prepaid Insurance 21,000 Advertising Expense 80, 325 Office Equipment 201,600 Depreciation Expense-Store Equipment 14, 525 Accumulated Depreciation- Office Equipment 86, 625 Miscellaneous Selling Expense 3,500 Store Equipment 895, 125 Office Salaries Expense 135,450 Accumulated Depreciation- Store Equipment 326,725 Rent Expense 69, 825 Accounts Payable 85,050 Insurance Expense 40, 163 Customer Refunds Payable 61,250 Depreciation Expense- Office Equipment 28, 350 Salaries Payable 16,800 Office Supplies Expense 2,887 Note Payable ( final payment due in five years) 94, 500 Miscellaneous Administrative 3,325 Common Stock 26, 250 Interest Expense 21,000 Instructions: Which of the list is administrative expenses?

Name: Cash $146, 125 Retained Earnings $ 444, 150 Accounts Receivable 262,
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Description: Cash $146, 125 Retained Earnings $ 444, 150 Accounts Receivable 262, 500 Dividends 218, 750 Inventory 665,000 Sales6,242,250 Estimated Returns Inventory 61,250 Cost of Goods Sold 3, 806, 250 Office Supplies 26, 250 Sales SalariesExpense 680,400 Prep

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 5.5BPR: Multiple-step income statement and balance sheet The following selected accounts and their current...

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MASTERY PROBLEM Financial statements for Peachfield Corporation as well as additional information relevant to cash flows during the period follow. Additional information: 1. Office equipment was sold during the year for 75,000. 2. Depreciation expense for the year was 62,400 as follows: 3. No other equipment was sold during the year. The following purchases were made for cash. 4. Declared and paid cash dividends of 20,000. 5. Issued 11,200 shares of 10 par common stock for 118,000. 6. Issued a note payable for 10,700. 7. Additional store equipment was acquired by issuing a long-term note payable for 20,000. REQUIRED 1. Prepare a statement of cash flows explaining the change in cash and cash equivalents. 2. Reconcile cash and cash equivalents at the bottom of the statement of cash flows.
FREE CASH FLOW Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 2018 2017 Assets Cash and equivalents 15,000 14,000 Accounts receivable 35,000 30,000 Inventories 33,320 27,000 Total current assets 83,320 71,000 Net plant and equipment 48,000 46,000 Total assets 131,320 117,000 Liabilities and Equity Accounts payable 10,100 9,000 Accruals 8,000 6,000 Notes payable 7,000 5,050 Total current liabilities 25,100 20,050 Long term bonds 20,000 20,000 Total liabilities 45,100 40,050 Common stock(4,000 shares) 40,000 40,000 Retained earnings 46,220 36,950 Common equity 86,220 76,950 Total liabilities and equity 131,320 117,000 Income Statement for Year Ending December 31, 2018 Sales 210,000 Operating cost excluding depreciation and amortization 160,00 EBITDA 50,000 Depreciation and amortization 6000 EBIT 44,000 interest 5,350 EBT 5,38,650 Taxes (40%) 15,460 Net income 23,190 Dividends paid 13,920 a. What was net operating working capital for 2017 and 2018? Assume that all cash is excess cash; i.e., this cash is not needed for operating purposes. b. What was .Arlingtons 2018 free cash flow? c. Construct Arlingtons 2018 statement of stockholders equity. d. What was Arlingtons 2018 EVA? Assume that its after tax cost of capital is 10%. e. What was Arlingtons MVA at year-end 2018? Assume that its stock price at December 31, 2018? Was 25.
Assets Cash $ 58,900 $ 79,500 Accounts receivable 74,830 56,625 Inventory 284,656 257,800 Prepaid expenses 1,270 2,015 Total current assets 419,656 395,940 Equipment 151,500 114,000 Accum. depreciation—Equipment (39,625 ) (49,000 ) Total assets $ 531,531 $ 460,940 Liabilities and Equity Accounts payable $ 59,141 $ 123,675 Short-term notes payable 11,800 7,200 Total current liabilities 70,941 130,875 Long-term notes payable 62,000 54,750 Total liabilities 132,941 185,625 Equity Common stock, $5 par value 171,750 156,250 Paid-in capital in excess of par, common stock 46,500 0 Retained earnings 180,340 119,065 Total…
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Cash Accounts receivable Inventories Total current assets Oriole Sports Equipment Company $ 687,800 1,844,500 1,320,700 $3,853,000 Liabilities and Equity Accounts payable Notes payable Total current liabilities $1,739,900 2,113,100 $3,853,000 Sales and Costs Net sales Cost of goods sold $9,901,700 $5,955,500 Calculate the firm’s days sales outstanding. (use 365 days for calculation. Round answer to 1 decimal place e.g 15.1) Days sales outstanding —— What is the firms days sales in inventory? Days payables outstanding? Operating cycle? How does it compare with the industry average of 75 days? Is the firm efficient or inefficient in managing it's receivable and inventory as its operating cycle exceeds, is at par with or deceeds the industry average. What is cash conversion days? How does it compare with the industry average of 42.1 days? The firm’s cash conversion cycle is on a deceeds, exceeds or par with the industry average.