Electricity paid during the year is $14,000.There was an opening accrual b/F of $500. A bill for the quarter ended 31 January 2017 was $900. What is the electricity charge in the statement of profit or loss for the year ended 31 December 2016
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Electricity paid during the year is $14,000.There was an opening accrual b/F of $500. A bill for the quarter ended 31 January 2017 was $900. What is the electricity charge in the statement of profit or loss for the year ended 31 December 2016?
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- Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: Note: Round answers to two decimal places. 1. Calculate the times-interest-earned ratio. 2. Calculate the debt ratio. 3. Calculate the debt-to-equity ratio.During the year ended December 31, 2012, Francisco Company paid interest totaling P100,000. The prepaid interest expense is P23,500 and P18,000, respectively, on December 31, 2011 and 2012. The interest payable is P45,000 and P53,500, respectively on December 31, 2011 and 2012. What interest expense should be reported for 2012?The following information was available for the year ended December 31, 2016: Earnings before interest and taxes (operating income) $ 120,000 Interest expense 30,000 Income tax expense 35,000 Net income 55,000 Total assets at year-end 400,000 Total liabilities at year-end 200,000 a. Calculate the debt ratio at December 31, 2016. (Round your answer to 1 decimal place.) b. Calculate the debt/equity ratio at December 31, 2016.(Round your answer to 2 decimal places.) c. Calculate the times interest earned for the year ended December 31, 2016.(Round your answer to 2 decimal places.)
- The following information was available for the year ended December 31, 2013: Earnings before interest and taxes (operating income) $ 75,000 Net income $ 40,000 Interest expense 15,000 Total assets at year-end 250,000 Income tax expense 20,000 Total liabilities at year-end 140,000 Required: a. Calculate the debt ratio at December 31, 2013. (Round your answer to 1 decimal place.) b. Calculate the debt/equity ratio at December 31, 2013. (Round your answer to 2 decimal places.) c. Calculate the times interest earned for the year ended December 31, 2013. (Round your answer to 2 decimal places.)Crane Rental Company had depreciation expenses of $115,000, interest expenses of $115,000, and an EBIT of $1,932,000 for the year ended June 30, 2017. What are the times-interest-earned and cash coverage ratios for this company? (Round answers to 1 decimal place, e.g. 12.5.) Times-interest-earned times Cash coverage ratio timesAt 31 March 20X7, accrued rent payable was £300. During the year to 31 March 20X8, £4,000 cash was paid. This included an invoice for rent for £1,200 which covered the quarter ending 30 April 20X8. What was the charge for rent in the statement of profit or loss for the year ending 31 March 20x8?
- The December 2015 utility bill worth 15,000 was received on January 6, 2016. What is the adjusting entry for December 2015?Pandar Ltd prepares accounts to the end of February each year. The accrual for electricity brought forward on 1 March 2019 was £1,000. The accountant estimates that electricity consumed in January and February 2020, but not billed until after the year end, would cost some £1,400. Cheques paid to the power supplier during the year ended 28 February 2020 totalled £13,300. With respect to the financial statements for the year ended 28 February 2020, which of the following statements is true? a) There will be a charge in the Income Statement of £1,400 and an accrual in the Statement of Financial Position of £13,700. b) There will be a charge in the Income Statement of £12,900 and an accrual in the Statement of Financial Position of £1,200. c) There will be a charge in the Income Statement of £13,700 and an accrual in the Statement of Financial Position of £2,400. d) There will be a charge in the Income Statement of £13,700 and an accrual in the Statement of Financial…Lithium Co.'s current liabilities totaled USD1,600,000 as of December 31, 2014, before any necessary year-end adjustments. Lithium Co. purchased and received goods for USD300,000 terms 2/10, n/30 on December 28, 2014. On January 4, 2015, the invoice was recorded and paid.In its December 31, 2014 balance sheet, how much should Lithium Co. report as total current liabilities?
- FAJARDO Company paid P24,900 in insurance premiums during 2014. FAJARDO showed P3,600 in prepaid insurance on its December 31, 2014 balance sheet and P4,500 on December 31, 2013. The insurance expense account on its income statement for 2014 was _________1.Company has been trading for one year as at 31 December 2020 and during that year it paid electricity bills amounting to £760. On 14 January 2021 Company received an electricity bill for the three months to 31 December 2020 for £310. It eventually paid the bill on 31 January 2021. Its accounts for the year ended 31 December 2020 should show: Select one: a. A statement of profit or loss charge for electricity of £1,070 and a prepayment of £310 on the statement of financial position b. A statement of profit or loss charge for electricity of £760 and a prepayment of £310 on the statement of financial position c. A statement of profit or loss charge for electricity of £760 and an accrual of £310 on the statement of financial position d. A statement of profit or loss charge for electricity of £1,070 and an accrual of £310 on the statement of financial position 2. Company started trading on 1 January. Its trial balance at 31 December, the end of its first year of trading is given…On August 1, 2018, Avonette, Inc., sold equipment and accepted a six-month, 9%, $50,000 notereceivable. Avonette’s year-end is December 31.Q5-48. How much interest revenue should Avonette accrue on December 31, 2018?a. $4,500b. $2,425c. $1,875d. $2,250
