Required informationUse the following information for the Quick Studies below. (Algo)[The following information applies to the questions displayed below.]Prior Year$ 12,60024,60048,80071,500Current Year$ 10,00059,50055,00097,000$ 221,500CashAccounts receivableEquipment, netLandTotal assets$ 157,500QS 13-5 (Algo) Horizontal analysis LO P1Compute the annual dollar changes and percent changes for each of the following items. (Decreases should be entered with a minussign. Round your percentage answers to one decimal place.)Horizontal Analysis - Calculation of Percent ChangeDenominator:Numerator:Percent change =Current YearPrior YearDollar ChangePercent$10,000 $12,600Cash59,50024,600Accounts receivable55,00048,800Equipment, net97,00071,500Land2$221,500 $ 157,500Total assets Required informationUse the following information for the Quick Studies below. (Algo)[The following information applies to the questions displayed below.]Current YearPrior Year$ 12,60024,60048,80071,500Cash$ 10,00059,50055,00097,000Accounts receivableEquipment, netLandTotal assets$ 221,500$ 157,500QS 13-6 (Algo) Vertical analysis LO P2Express the items in common-size percents. (Round your percentage answers to one decimal place.)Current YearPrior YearCash%Accounts receivableEquipment, net%Land%Total assets00 %0.0 %

Please see Step 2 for required information.

QS 13-6 (Algo) Vertical analysis LO P2 Express the items in common-size percents. (Round your percentage answers to one decimal place.) Current Year Prior Year Cash % % Accounts receivable % Equipment, net Land % 0.0 % Total assets 0.0 %

QS 13-6 (Algo) Vertical analysis LO P2 Express the items in common-size percents. (Round your percentage answers to one decimal place.) Current Year Prior Year Cash % % Accounts receivable % Equipment, net Land % 0.0 % Total assets 0.0 %

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...

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Refer to the following data of OCT2023CPACompany: Assets to be realized 1,375,000Assets acquired 825,000 Liabilities liquidated 1,875,000Assets realized 1,200,000Liabilities not liquidated 1,700,000 Assets not realized 1,375,000Llabilities assumed 1,625,000Llabilities to be liquidated 2,250,000 Supplementary charges 3,125,000 Supplementary credits 2,800,000 Compute the beginning cash balance assuming that the ending balance of ordinary share and retained earnings are P1,200,000 and (400,000), respectively
Refer to the following data of SG Company: Assets to be realized1,375,000Liabilities liquidated1,875,000Assets acquired825,000Liabilities not liquidated1,700,000Assets realized1,200,000Liabilities to be liquidated2,250,000Assets not realized1,375,000Supplementary charges3,125,000Liabilities assumed1,625,000Supplementary credits2,800,000Compute the beginning cash balance assuming that the ending balance of ordinary share and retained earnings are P1,200,000 and (400,000), respectively.A. P1,325,000b. P1,475,000c. P2,075,000d. P1,450,000
The comparative statement of financial position for Moose Jaw Ltd. is as follows:Moose Jaw Ltd.Comparative Statement of Financial PositionAs at December 312021 2020Cash $20,500 $12,500Accounts receivable 34,000 25,500Inventories 20,000 30,000Prepaid insurance 2,500 2,000Equipment 102,000 90,000Accumulated depreciation - equipment (22,500) (12,500)Total assets $156,500 $147,500Accounts payable $23,000 $20,000Interest payable 2,000 3,000Wages payable 4,000 2,000Income taxes payable 4,000 5,000Long-term note payable 30,000 34,500Common shares 65,000 65,000Retained earnings 28,500 18,000Total liabilities and equity $156,500 $147,500More information about Moose Jaw’s operations for 2021:• A machine which the company paid $10,000 for was sold for a gain of$1,000. The equipment’s accumulated depreciation was $7,000.• The company had net income for of $13,500.RequiredConstruct the operating activities section of Moose Jaw Ltd.’s statement of cashflows using the indirect method. Use proper…
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