Good Truck Berhad Balance Sheets as at 31 December 2019 (RM in millions) Assets Liabilities and EquitiesCash 140 Accounts payable 1,120Accounts rec. 780 Long-term debt 1,210Inventory 1,520 Common stock 3,000Total 2,440 Retained earnings 710Net fixed assets 3,600Total assets 6,040 Total liabilities & equity 6,040 You are required to calculate: a. Current ratiof. Debt ratio b. Quick ratio
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- Summerfields Sdn BhdBalance Sheet as at 31 December 2020 (RM’000)Cash 400 Account payable 1,200Marketable securities 500 Accrued wages 1,200Accounts receivable 750 Notes payable 700Inventories 500 Mortgage payable 2,200Net Fixed Asset 4,850 Common stock 500Retained earnings 1,200TOTAL ASSETS 7,000 TOTAL CLAIMS 7,000Additional information:-i) Sales in 2020 was RM 12 million and it is projected to increase to 18 million in 2021.ii) The company is operating at full capacity.iii) The net profit for this company in 2020 was RM1,200,000 and dividend payment wasRM300,000.iv) All external financing will be absorbed and met by common stock.Prepare a pro-forma balance sheet for Summerfields Sdn Bhd for the year ended 2021by using percent of sales method and determine the external funds required.In Set’ Dec. 31, 2020 statement of financial position, how much should be the accounts payable? *see attached a. P 1,410,000b. P 1,485,000c. P 1,462,500d. P 1,425,000FILLING IN THE RATIOS .. THE LEFT SIDE IS 2019 THE RIGHT SIDE IS 2020 IN THE IMAGE. Jergan CorporationBalance SheetsDecember 31 2020 2019 2018 Cash $ 30,800 $ 17,600 $ 18,700 Accounts receivable (net) 50,500 44,200 47,100 Other current assets 89,600 94,900 63,900 Investments 55,300 71,000 45,100 Plant and equipment (net) 500,500 370,000 358,500 $726,700 $597,700 $533,300 Current liabilities $85,500 $79,800 $69,400 Long-term debt 144,300 84,100 50,300 Common stock, $10 par 348,000 316,000 304,000 Retained earnings 148,900 117,800 109,600 $726,700 $597,700 $533,300 Jergan CorporationIncome StatementFor the Years Ended December 31 2020 2019 Sales revenue $738,000 $605,500 Less: Sales returns and allowances 39,100 29,900 Net sales 698,900…
- Ratio Analysis Consider the following information taken from GER's financial statements: September 30(in thousands) 2020 2019 Current assets: Cash and cash equivalents $1,274 $6,450 Receivables 30,071 16,548 Inventories 31,796 14,072 Other current assets 4,818 2,620 Total current assets $67,959 $39,690 Current liabilities: Current portion of long-term debt $97 $3,530 Accounts payable 23,124 11,228 Accrued compensation costs 5,606 1,929 Accrued expenses 9,108 5,054 Other current liabilities 874 777 Total current liabilities $38,809 $22,518 Also, GER's operating cash flows were $11,255 and $13,736 in 2020 and 2019, respectively. 4. Calculate the operating cash flow ratios for 2020 and 2019. Operating Cash Flow Ratio 2020 fill in the blank 7 2019 fill in the blank 8Carla Vista Co. has these comparative balance sheet data: CARLA VISTA CO.Balance SheetsDecember 31 2020 2019 Cash $ 16,140 $ 32,280 Accounts receivable (net) 75,320 64,560 Inventory 64,560 53,800 Plant assets (net) 215,200 193,680 $371,220 $344,320 Accounts payable $ 53,800 $ 64,560 Mortgage payable (15%) 107,600 107,600 Common stock, $10 par 150,640 129,120 Retained earnings 59,180 43,040 $371,220 $344,320 Additional information for 2020: 1. Net income was $32,500. 2. Sales on account were $392,900. Sales returns and allowances amounted to $27,300. 3. Cost of goods sold was $217,300. 4. Net cash provided by operating activities was $57,200. 5. Capital expenditures were $30,000, and cash dividends were $19,000. Compute the following ratios at December 31, 2020. (Round current ratio and inventory turnover to 2 decimal places, e.g. 1.83…Choose the correct letter of answer: Company F Statement of Financial Positions at December 31, 2020 shows the following: Cash P4,000.00, Marketable Securities P8,000.00, Accounts Receivable P100,000.00, Inventories P120,000.00, Prepaid Expenses P1,000.00, Notes Payable (short term) P5,000.00, Accounts Payable P150,000.00, Accrued Expenses P20,000.00, Income taxes payable P1,000.00, and long-term liabilities P340,000.00. Determine the following: current ratio and quick ratio. a. 1.32 and 0.64b. 1.52 and 0.82c. 1.82 and 0.86d. 1.98 and 1.54e. 2.2 and 2.1
- 10..new Comparative balance sheet accounts of Sheridan Inc. are presented below. SHERIDAN INC.COMPARATIVE BALANCE SHEET ACCOUNTSAS OF DECEMBER 31, 2020 AND 2019 December 31 Debit Accounts 2020 2019 Cash $41,600 $33,700 Accounts Receivable 70,500 60,600 Inventory 29,700 23,700 Equity investments 22,300 38,900 Machinery 29,900 18,800 Buildings 67,600 56,300 Land 7,600 7,600 $269,200 $239,600 Credit Accounts Allowance for Doubtful Accounts $2,200 $1,500 Accumulated Depreciation—Machinery 5,600 2,300 Accumulated Depreciation—Buildings 13,500 9,000 Accounts Payable 34,700 24,800 Accrued Payables 3,300 2,600 Long-Term Notes Payable 20,900 31,300 Common Stock, no-par 150,000 125,000 Retained Earnings 39,000 43,100 $269,200 $239,600 Additional data (ignoring taxes): 1.…10. Comparative balance sheet accounts of Sage Inc. are presented below. SAGE INC.COMPARATIVE BALANCE SHEET ACCOUNTSAS OF DECEMBER 31, 2020 AND 2019 December 31 Debit Accounts 2020 2019 Cash $42,400 $33,800 Accounts Receivable 70,500 59,700 Inventory 30,300 24,200 Equity investments 22,100 38,300 Machinery 30,200 18,500 Buildings 67,500 55,800 Land 7,400 7,400 $270,400 $237,700 Credit Accounts Allowance for Doubtful Accounts $2,300 $1,500 Accumulated Depreciation—Machinery 5,500 2,300 Accumulated Depreciation—Buildings 13,500 8,900 Accounts Payable 34,700 24,700 Accrued Payables 3,300 2,700 Long-Term Notes Payable 20,800 31,000 Common Stock, no-par 150,000 125,000 Retained Earnings 40,300 41,600 $270,400 $237,700 Additional data (ignoring taxes): 1. Net income…25. Windsor Inc., a greeting card company, had the following statements prepared as of December 31, 2020. WINDSOR INC.COMPARATIVE BALANCE SHEETAS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $6,100 $7,100 Accounts receivable 62,400 51,000 Short-term debt investments (available-for-sale) 34,700 18,100 Inventory 40,400 60,300 Prepaid rent 4,900 4,000 Equipment 154,100 130,600 Accumulated depreciation—equipment (34,900 ) (24,800 ) Copyrights 46,400 49,800 Total assets $314,100 $296,100 Accounts payable $46,500 $40,200 Income taxes payable 4,000 6,000 Salaries and wages payable 8,100 4,100 Short-term loans payable 7,900 10,100 Long-term loans payable 59,600 68,400 Common stock, $10 par 100,000 100,000…
- Then balance off the accounts and extracted a trial balance for sole trader Airman Co. as at 30September 2020:DR CR£ £Capital £306,070Drawings 26,500Cash at bank 20,000Cash in hand 8500Accounts receivable (Debtors) 70,000Accounts payable (Creditors) 16,000Inventory (Stock): 30 September 2019 36,000Van 16,000Fixtures and Fittings 32,000Sales 80,000Purchases 150,000Return inwards (Sales Returns) 2,000Carriage inwards 720Returns outwards (Purchase Returns) 600Carriage outwards 400Motor expenses 1200Rent 5,000Telephone charges 620Wages and salaries 32,000Insurance 830Office expenses 600Sundry expenses 300437,600 437,600Inventory as at 30 September 2020was £120,000.Requireda. Draft an Income Statement for S. Keyes for the year ending 30th September 2019Sandhill Co. has these comparative balance sheet data: SANDHILL CO.Balance SheetsDecember 31 2020 2019 Cash $ 29,205 $ 58,410 Accounts receivable (net) 136,290 116,820 Inventory 116,820 97,350 Plant assets (net) 389,400 350,460 $671,715 $623,040 Accounts payable $ 97,350 $ 116,820 Mortgage payable (15%) 194,700 194,700 Common stock, $10 par 272,580 233,640 Retained earnings 107,085 77,880 $671,715 $623,040 Additional information for 2020: 1. Net income was $34,900. 2. Sales on account were $378,200. Sales returns and allowances amounted to $29,600. 3. Cost of goods sold was $204,700. 4. Net cash provided by operating activities was $57,300. 5. Capital expenditures were $28,200, and cash dividends were $13,800. Only the first 3 were answered the last time, I need all of these answered now. Compute the following ratios at December 31,…Sandhill Co. has these comparative balance sheet data: SANDHILL CO.Balance SheetsDecember 31 2020 2019 Cash $ 29,205 $ 58,410 Accounts receivable (net) 136,290 116,820 Inventory 116,820 97,350 Plant assets (net) 389,400 350,460 $671,715 $623,040 Accounts payable $ 97,350 $ 116,820 Mortgage payable (15%) 194,700 194,700 Common stock, $10 par 272,580 233,640 Retained earnings 107,085 77,880 $671,715 $623,040 Additional information for 2020: 1. Net income was $34,900. 2. Sales on account were $378,200. Sales returns and allowances amounted to $29,600. 3. Cost of goods sold was $204,700. 4. Net cash provided by operating activities was $57,300. 5. Capital expenditures were $28,200, and cash dividends were $13,800. Compute the following ratios at December 31, 2020. (Round current ratio and inventory turnover to 2 decimal places, e.g. 1.83…
