9.Allowance for doubtful accounts.10.Accounts receivable.11.Accumulated other comprehensive income.12.Notes payable (due next year).13.Supplies.14.Share capital-ordinary.15.Land.16.Bond sinking fund.17.Inventory.18.Prepaid insurance.19.Bonds payable.20.Income taxes payable.>>>>>>>> Presented below are the captions of Nikos SpA's statement of financial position. Indicate where each of the following items would beclassified.Statement of Financial Position AccountsStatement of Financial Position Classification1.Share capital-preference.2.Goodwill.3.Salaries and wages payable.4.Accounts payable.5.Buildings.6.Trading securities.7.Current portion of long-term debt.8.Patents.9.Allowance for doubtful accounts.10.Accounts receivable.>>>>>>>

The balance sheet is the statement of financial position of the business. The assets are classified…

Answered: Presented below are the captions of…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 37MCQ

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Stockholders equity consists of which of the following? A. bonds payable B. retained earnings and accounts receivable C. retained earnings and paid-in capital D. discounts and premiums on bond payable
The income statement, statement of retained earnings, and balance sheet for Santiago Systems are as follows: Includes both state and federal taxes. Refer to the information for Santiago Systems above. Required: Note: Round answers to four decimal places. 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.
Owners equity represents which of the following? A. the amount of funding the company has from issuing bonds B. the sum of the retained earnings and accounts receivable account balances C. the total of retained earnings plus paid-in capital D. the business owners/owners share of the company, also known as net worth or net assets
A firm had the following values for the four debt ratios discussed in the chapter: Liabilities to Assets Ratio: less than 1.0 Liabilities to Shareholders Equity Ratio: equal to 1.0 Long-Term Debt to Long-Term Capital Ratio: less than 1.0 Long-Term Debt to Shareholders Equity Ratio: less than 1.0 a. Indicate whether each of the following independent transactions increases, decreases, or has no effect on each of the four debt ratios. (1) The firm issued long-term debt for cash. (2) The firm issued short-term debt and used the cash proceeds to redeem long-term debt (treat as a unified transaction). (3) The firm redeemed short-term debt with cash. (4) The firm issued long-term debt and used the cash proceeds to repurchase shares of its common stock (treat as a unified transaction). b. The text states that analysts need not compute all four debt ratios each year because the debt ratios are highly correlated. Does your analysis in Requirement a support this statement? Explain.
In what section of the balance sheet should the following items appear, and what balance sheet terminology would you use? a. Treasury stock (recorded at cost). b. Checking account at bank. c. Land (held as an investment). d. Sinking fund. e. Unamortized premium on bonds payable. f. Copyrights. g. Pension fund assets. h. Premium on common stock. i. Long-term investments (pledged against bank loans payable).
Assume that Fielder Enterprises uses the following headings on its balance sheet. a. Current assets. b. Investments. c. Property, plant, and equipment. d. Intangible assets. e. Other assets. f. Current liabilities. g. Long-term liabilities. h. Capital stock. i. Equity attributed to noncontrolling interest. j. Paid-in capital in excess of par. k. Retained earnings. Instructions Indicate by letter how each of the following usually should be classified. If an item should appear in a note to the financial statements, use the letter “N” to indicate this fact. If an item need not be reported at all on the balance sheet, use the letter “X.” 1. Prepaid insurance. 2. Stock owned in affiliated companies. 3. Unearned service revenue. 4. Advances to suppliers. 5. Unearned rent revenue. 6. Preferred stock. 7. Additional paid-in capital on preferred stock. 8. Copyrights. 9. Petty cash fund. 10. Sales taxes payable. 11. Accrued…
Which of the following would you find in the financial statements? a) Information about principal, interest, and maturity of long term debt. b) Discussion of the company's results of operations. c) Financial position on a particular date. d) A qualified opinion.
The statement of financial position of Trend, Inc. is presented below. These are the only accounts in Trend's statement of financial position. Amounts indicated by question mark (?) can be calculated from the additional information given Cash Accounts rereivahle(net) Inventory Property. Dant and equipment (net ota LIabilitieS and Stockholders Equity Accounts Davable trade Income taxes Davable (current) Long-term debt Common stock Retained earnings Total Additional Information Gurrent ratio (at vear end) Total liabilities divided by total stockholders' equity 25,000 294,000 432,000 25.000 300.000 slavento turnover based on sales and ending inventor Inventor turnover based on cost of goods sold and ending inventory Gross margin for the year 1,5 to 1 0.8 15 times 10.5 times P315,000 What was rend' balance in trade accounts payable at year-end? What was Trend's balance in retained earnings at year-end? Was rends Dalance in the inventory account at year-end? The balance of Accounts…
Provide the formulas to calculate the following items from a company's financial statement: 1. Cash Position Indicator2. Liquid Securities Indicator3. Net Fed Funds and Repurchase Agreements Indicator4. Capacity Indicator5. Pledged Securities Ratio6. Hot Money Ratio7. Core Deposit Ratio8. Deposit Composition Ratio9. Loan Commitments Ratio
Balance Sheet ClassificationA balance sheet contains the following classifications:(a) Current assets (g) Long-term debt(b) Investments (h) Other noncurrent liabilities(c) Property, plant, and equipment (i) Capital stock(d) Intangible assets (j) Additional paid-in capital(e) Other noncurrent assets (k) Retained earnings(f) Current liabilitiesIndicate by letter how each of the following accounts would be classified. Place a minus sign (–) for all accounts representing offset or contra balances. 1. Discount on Bonds Payable 2. Stock of Subsidiary Corporation 3. 12% Bonds Payable (due in 6 months)
From the list below, identify the components that appear on the statement of financial positiona) Assetsb) Liabilitiesc) Alld) Shareholders’equity

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