exercise for finance acc.pdfO File | C:/Users/User/Desktop/FIN%20ACC/exercise%20for%20finance%20acc.pdf(D Page viewA Read aloudT Add textV DrawE Highlight2 Eraseof 4++5 The companu purchases office equipment by cash.AssetIncreaseDecreaseNo EffectLiabilityIncreaseDecreaseNo EffectOwner's EquityIncreaseDecreaseNo Effect6 The owner contributes his personal truck to the business.DecreaseNo EffectAssetIncreaseDecreaseNo EffectLiabilityIncreaseDecreaseNo EffectOwner's EquityIncrease5:29 PMO Type here to searchIMI26/10/2021ENG exercise for finance acc.pdfO File | C:/Users/User/Desktop/FIN%20ACC/exercise%20for%20finance%20acc.pdf3of 4+CD Page viewA Read aloudT Add textV DrawE HighlightO EraseProblems1 State whether the following are non-current assets, current assets, owner's equity.non-current liabilities, current liabilities, income or expenses(g) Cash in hand(h) Motor vehicles0) Trade receivablesO Trade payables(k) Fixtures and fittings(m) Machineries(n) Franchises(a) Premises(b) Long-term loans(c) insurance(d) Dividends received(e) Inventories0 Capital() Bank overdrafts2. Calculate the value of the missing items:AssetsСapitalLiabilitiesRM45.000RM12,400RM33,000RM13,333RM21.200RM10,000RM45.678RM34.567O Type here to search5:29 PMIMI26/10/2021ENG+

As posted multiple independent questions we are answering only first question kindly repost the…

Problems 1 State whether the following are non-current assets, current assets, owner's equity. (a) Premises (b) Long-term loans (c) Insurance (d) Dividends received (e) Inventories 0 Capital (n Bank overdrafts non-current liabilities, current liabilities, income or expenses (g) Cash in hand (h) Motor vehicles () Trade receivables O Trade payables (k) Fixtures and fittings (m) Machineries (n) Franchises

Problems 1 State whether the following are non-current assets, current assets, owner's equity. (a) Premises (b) Long-term loans (c) Insurance (d) Dividends received (e) Inventories 0 Capital (n Bank overdrafts non-current liabilities, current liabilities, income or expenses (g) Cash in hand (h) Motor vehicles () Trade receivables O Trade payables (k) Fixtures and fittings (m) Machineries (n) Franchises

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section3.3: Transactions Affecting Owner’s Equity And Asset Accounts

Problem 1WT

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Comprehensive/Spreadsheet Problem 16-15 FORECASTING FINANCIAL STATEMENTS Use a spreadsheet model to forecast the financial statements in Problems 16-13 and 16-14. 16-13 ADDITIONAL FUNDS NEEDED Morrissey Technologies Inc.'s 2014 financial statements arc shown here. Morrissey Technologies Inc.: Balance Sheet as of December 31, 2014 Morrissey Technologies Inc.: Income Statement for December 31, 2014 Sales 3.600.000 Operating costs including depreciation 3,279,720 E81T 320.280 Interest 20.280 EST 300.000 Taxes (40%} 120,000 Net Income 180.000 Per Share Data: Common stock price 45.00 Earnings per share (EPS) 1.80 Dividends per share (DPS) 1.08 Suppose that in 2015, sales increase by 10% over 2014 sales. 1hc firm currently has 100,000 shares outstanding. It expects to maintain its 2014 dividend payout ratio and believes that its assets should grow at the same rate as sales. The firm has no excess capacity. However, the firm would Like to reduce its Operating costs/Sales ratio to 87.5% and increase its total liabilities-to-assets ratio to 30%. (It believes its liabilities to-assets ratio currently is too low relative to the industry average.) The firm will raise JOO/o of the 2015 forecasted interest bearing debt as notes payable, and it will issue long-term bonds for the remainder. the firm forecasts that its before-tax cost of debt (which includes both short-term and long-term debt) is 12.5%. Assume that any common stock issuances or repurchases can be made at the firm's current stock price of S45. a. Construct the forecasted financial statements assuming that these changes are made. What are the firm's forecasted notes payable and long-term debt balances? What is the forecasted addition to retained earnings? b. If the profit margin remains at S'/o and the dividend payout ratio remains at 60%, at what growth rate in sales will the additional financing requirements be exactly zero? In other words, what is the firm's sustainable growth rate? (Hint: Set AFN equal to zero and solve for g.) 16-14 EXCESS CAPACITY Krogh Lumber's 2014 financial statements are shown here. Krogh Lumber: Balance Sheet as of December 31, 2014 (Thousands of Dollars) Krogh Lumber: Income Statement for December 31, 2014 (Thousands of Dollars) Sales 36,000 Operating costs including depredation 30,783 Earnings before interest and taxes 5,217 Interest 1,017 Earnings before taxes 4,200 Taxes (40%) 1680 Net income 2.520 Dividends (60%} 1,512 Addition to retained earnings 1,008 a. Assume that the company was operating at full capacity in 2014 with regard to all items except fixed assets; fixed assets in 2014 were being utilized to only 75% of capacity. By what percentage could 2015 sales increase over 2014 sales without the need for an increase in fixed assets? b. Now suppose 2015 sales increase by 25% over 2014 sales. Assume that Krogh cannot sell any fixed assets. AU assets other than fixed assets will grow at the same rate as sales; however, after reviewing industry averages, the firm would like to reduce its operating costs/sales ratio to 82% and increase its total liabilities-to-assets ratio to 42%. The firm will maintain its 60% dividend payout ratio, and it currently has 1 million shares outstanding. The firm plans to raise 35% of its 2015 forecasted interest-bearing debt as notes payable, and it will issue bonds for tile remainder. The firm forecasts that its before-tax cost of debt (which includes both short-term and long-term debt) is 11%. Any stock issuances or repurchases will be made at the firm's current stock price of 40. Develop Krogh's projected financial statements like those shown in Table 16.2 What are the balances of notes payable, bonds, common stock, and retained earnings?
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usiness AccountingQ&A LibraryGet live help whenever you need from online tutors!Try bartleby tutor todayarrow_forward Question Asked Sep 11, 2020 1 views Jordan Shi operates a consulting firm called X, which began operations on August1. On August 31 the company's records show the following accounts and the amount of August. Cash =$25,460. Acct Receivable =$22,510; Land = $44,130 Office equipment =20,160 Office Supplies =$5,380; Acct payable =$10,370 Dividends =$ 6130 Consulting fees earned =$27,130 Rent expense =$9690 Salaries expense =$5710 Telephone expense =$1010 Miscellaneous expense =$ 620 Common stock =$103,300 Use the above information to prepare an August statement of retained ernigs for the company.(Net income for August is $10,100) Get live help whenever you need from online tutors!Try bartleby tutor todayarrow_forward Question Asked Sep 11, 2020 1 views Jordan Shi operates a consulting firm called X, which began operations on August1. On August 31 the…
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