Answered: Key Figures (5 millions) AT&T Vertzon…

Key Figures (5 millions) AT&T Vertzon Sales ... $126,723 $110,875 Net Income . 4,184 10,198 Average assets 269,868 225,233

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter17: Corporations: Introduction And Operating Rules

Section: Chapter Questions

Problem 1BCRQ

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Patel Corporation Balance Sheet December 31, 2021 $ 630,000 189,000 275,000 1,875,000 Cash $ Accounts receivable ( net) Inventories Plant and equipment net of depreciation Patents Other intangible assets Total Assets $ 750,000 350,000 Accounts payable 1.950,000 Income taxes payable 2,439,000 Miscellaneous accrued payables Bonds payable (8% , due 2023) 1,963,000 Preferred slock ($100 par, 6% 261,000 cumulative nonparticipating) 75,000 Common stock (no par, 60,000 7,058.000 shares authorized, issued and outstanding) Retained earnings Treasury stock- - 1.500 shares of preferred Total Equities 1,125,000 2,439,000 (225,000) underline 5 7,058,000 Patel Corporation Income Statement Year ended December 31, 2021 Net sales $ Cose goods sold Gross profit Operating expenses (including bond interest expense) Income before income taxes Income tax Net income 9,000,000 6,000,000 3,000,000 1,500,000 1,500,000 450,000 1, 05 Additional information: There are no preferred dividends in arrears, the…
Orbit Limited : Statement of Financial Position as at 31 December 2022 2021 Non-current Assets R11 810 000 R7 560 000 Property, Plant, Equipment R10 025 000 R6 250 000 Investments R1 785 000 R1 310 000 Current Assets R4 190 000 R4 690 000 Inventories R 1 875 000 R2 350 000 Account Receivable R1 925 000 R2 200 000 Cash R390 000 R140 000 Toatal Assets R16 000 000 R12 250 000 Equities & Liabilities Equity ? ? Oridanary share capital R5 480 000 R3 680 000 Retained earnings ? ? Non-current Liabilities R4 500 000 R3 800 000 Loan (20% p.a) R4 500 000 R3 800 000 Current Liabilities R2 300 000 R1 500 000 Accounts payable? R2 300 000 R1 500 000 Calculate the increase in the retained earnings over the two-year period.
The following information is provided for Cullumber Company and Bramble Corporation. (in $ millions) Cullumber Company Bramble Corporation Net income 2022 $145 $415 Net sales 2022 1755 4610 Total assets 12/31/20 1025 2330 Total assets 12/31/21 1260 3000 Total assets 12/31/22 1150 4080 What is Bramble's return on assets for 2022? (Round answer to 1 decimal place, e.g. 15.2.) 11.5% 13.8% 10.2% 11.7%
Computational (Show your computations. Round off as follows: e.g. ₩10.64=> ₩11, 0.123456 => 12.35%, 2.4321 => 2.43) . KG Co. had total assets of ₩1,200,000, total liabilities of ₩500,000, and retainedearnings of ₩300,000 at the beginning of 20x1. For the year, the corporationdeclared cash dividends of ₩50,000. At the end of the year, the company hadtotal assets of ₩1,400,000 and showed the debt ratio of 0.4. The company hadno accumulated other comprehensive income.1) Compute the total stockholders’ equity at the end of 20x1. 2) Compute KG’s net profit for 20x1, assuming no change in contributed capitalduring the year
The following data apply to A.L Kaiser & Company ($ million) : Cash and Equivalents $ 100.00Fixed Assets $ 283.50Sales $1,000.00Net Income $ 50.00Quick Ratio $ 2.0xCurrent Ratio 3.0xDSO 40.0 DaysROE 12.0% Kaiser has no preferred stock - Only common equity, current liabilities, and long-term debt.a. Find Kaiser's (1) Account Receivable, (2) Current Liabilities, (3) Current Assets, (4) Total Assets, (5) ROA, (6) common equity, and (7) long-term debt b. In part (a), you should found Kaiser's accounts receivable (A/R) to be $111.1 million. If Kaiser could reduce its DSO from 40 days to 30 days while holding other things constant, how much cash would it generate? if this cash were used to buy back common stock (at book value) and thereby reduce the amount of common equity, how would this action affect the company's (1) ROE, (2) ROA, and (3) total deby/total assets ratio?
Calculate the following for Co. XYZ: c. Average collection period (365 days) d. Times interest earned Assets: Cash and marketable securities $400,000Accounts receivable 1,415,000Inventories 1,847,500Prepaid expenses 24,000Total current assets $3,686,500Fixed assets 2,800,000Less: accumulated depreciation 1,087,500Net fixed assets $1,712,500Total assets $5,399,000Liabilities: Accounts payable $600,000Notes payable 875,000Accrued taxes Total current liabilities $1,567,000Long-term debt 900,000Owner's equity Total liabilities and owner's equity Co. XYZ Income Statement: Net sales (all credit) $6,375,000Less: Cost of goods sold 4,375,000Selling and administrative expense 1,000,500Depreciation expense 135,000Interest expense Earnings before taxes $765,000Income taxes Net income Common stock dividends $230,000Change in retained earnings
Assets = _________, Liabilities + Owner’s equity = P150,000
Sandy Corporation’s balance sheet at January 2, 20x5 is as follows:Sandy-Dr(Cr)Cash and receivables P200,000,000Inventories 600,000,000.00Property, plant and equipment, net 7,500,000,000.00 Current liabilities (400,000,000.00)Long-term debt (7,200,000,000.00)Capital stock (7,200,000.00)Retained earnings (25,000,000.00)Accumulated othercomprehensive income (5,000,000.00) An analysis of Sandy’s assets and liabilities reveals that book values of some reported itemsdo not reflect their market values at the date of acquisition:● Inventories are overvalued by P200,000,000● Property, plant and equipment is overvalued by P2,000,000,000● Long-term debt is undervalued by P100,000,000 On January 2, 20x5, Velasco issues new stock with a market value of P700,000,000 toacquire the assets and liabilities of Sandy. Stock registration fees are P100,000,000, paid incash. Consulting, accounting, and legal fees connected with the merger are P150,000,000,paid in cash. In addition, Velasco enters into an…
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…
The following information is provided for Sunland Company and Culver Corporation. (in $ millions) Sunland Company Culver Corporation Net income 2022 $155 $405 Net sales 2022 1595 4530 Total assets 12/31/20 1040 2130 Total assets 12/31/21 1260 3020 Total assets 12/31/22 1165 4100 What is Sunland's asset turnover for 2022? (Round answer to 2 decimal places, e.g. 15.20.) 0.68 times 1.32 times 0.25 times 3.94 times
JEY-4322 Inc. reported the following data for last year: JEY-4322 Inc.Balance Sheet Beginning BalanceEnding BalanceAssets Cash$ 128,000$ 139,000Accounts receivable331,000481,000Inventory567,000471,000Plant and equipment, net894,000869,000Investment in Tesla Inc.400,000428,000Land (undeveloped)246,000249,000Total assets$ 2,566,000$ 2,637,000Liabilities and Stockholders' Equity Accounts payable$ 382,000$ 341,000Long-term debt981,000981,000Stockholders' equity1,203,0001,315,000Total liabilities and stockholders' equity$ 2,566,000$ 2,637,000 JEY-4322 Inc.Income StatementSales $ 3,880,000Operating expenses 3,336,800Net operating income 543,200Interest and taxes: Interest expense$ 111,000 Tax expense197,000308,000Net income $ 235,200 JEY-4322 Inc. paid dividends of $123,200 last year. The “Investment in Tesla Inc.” item on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return is 15%. What was the company’s residual income…
Torche CorporationBalance SheetAs of January 24, 2022(amounts in thousands) Cash 14,700 Accounts Payable 2,400 Accounts Receivable 4,800 Debt 3,700 Inventory 3,800 Other Liabilities 5,000 Property Plant & Equipment 15,800 Total Liabilities 11,100 Other Assets 900 Paid-In Capital 6,000 Retained Earnings 22,900 Total Equity 28,900 Total Assets 40,000 Total Liabilities & Equity 40,000 Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a balance sheet to answer the question. Jan 25. Sell product for $35,000 in cash with historical cost of $28,000Jan 26. Sell, deliver, and receive payment of $20,000 for serviceJan 27. Consume good or service and pay expense of $3,000 What is the final amount in Total Liabilities & Equity?