The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $45,552 $62,400 Long-term debt 52,324 41,200 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with Enter all answers as positive numbers. Amount of Change Increase/Decrease Percentage Accounts payable Y Long-term debt % %
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- Locate Gap Inc.’s 2020 Annual Report (for fiscal year 2/2/20-1/30/21) There are 10 sections of questions. You will find the information necessary to answer the questions in “Item 8. Financial Statements and Supplementary Data,” of the report. Read through the questions carefully and answer in the space provided. What are the following amounts at 1/30/21: Total Assets : Total Liabilities: Total Owner’s Equity : At 1/30/21: What is the percentage of debt used to finance Gap? What is the percentage of owner’s equity used to finance Gap? What is the significance of these two percentages?https://massygroup.com/wp-content/uploads/2022/11/MASSY-DIGITAL-ANNUAL- REPORT-2022-updated.pdf a. Conduct a horizontal and vertical analysis of the company’s financial statements to identify trends and patterns over the past two years. (8 marks) b. Provide an analysis of the company’s financial performance, for shareholders and potential investors, using the trends identified in (a) above and in the context of market and other trends and expectations mentioned in the MDA section of the Annual Report. c. Briefly explain how the analysis at (b) would be modified if it was prepared for stakeholders other than shareholders and investors.Visit the website of the US Securities and Exchange Commission (SEC) https://www.sec.gov/edgar/searchedgar/companysearch.html Search for the latest Form 10-K for a company you would like to analyze. Submit a short memo that A. Includes the name of the company you have chosen.B. Review the company’s end-of-period Balance Sheet to determine the following: Total assets Total liabilities Total equity C. Compare beginning and ending Assets totals and discuss the amount of change.D. Compare beginning and ending Liabilities totals and discuss the amount of change.E. Compare beginning and ending Equity totals and discuss the amount of change. Please provide a link to the company’s Form 10-K to allow accurate verification of your answers.
- https://www.unilever-caribbean.com/files/6eae8d2b-daec-43df-9ae2-94a5db0afac2/nlatam-pdf-unilever-financial-statements-2022-final-full-summary.pdf Financial Reporting Analysis: Use the link above to access Unilever Caribbean Limited Annual Report 2022 to answer the Questions. a) Evaluate the company’s latest annual financial statements (balance sheet, income statement, and cash flow statement) and comment on the company's financial performance and position. In your response, use the requirements of IAS 1 as a guide. b) Identify and discuss key accounting principles and standards applied in the company’s financial reporting process indicating their reasons for choosing these and how they were applied. Comment briefly on the appropriateness of the choices made given the company’s industry, location and type (e.g. MNC, regional conglomerate, etc.) c) Critically analyze any significant accounting policies and estimates disclosed in the notes to the financial statements. In your answer,…Please see attachment. The bottom portion is what I cannot figure out. The following financial information is for Priscoll Company. Priscoll CompanyBalance SheetsDecember 31 Assets 2020 2019 Cash $ 84,700 $ 78,650 Debt investments (short-term) 66,550 48,400 Accounts receivable 125,840 108,900 Inventory 278,300 199,650 Prepaid expenses 30,250 27,830 Land 157,300 157,300 Building and equipment (net) 314,600 223,850 Total assets $1,057,540 $844,580 Liabilities and Stockholders’ Equity Notes payable (short-term) $205,700 $145,200 Accounts payable 78,650 62,920 Accrued liabilities 48,400 48,400 Bonds payable, due 2023 302,500 205,700 Common stock, $10 par 242,000 242,000 Retained earnings 180,290 140,360 Total liabilities and stockholders’ equity $1,057,540 $844,580 Priscoll CompanyIncome StatementFor…Balance off the accounts and extract a trial balance for sole trader Airman Co. as at 30 September2020:DR CR£ £Capital 306,070Drawings 26,500Cash at bank 20,000Cash in hand 8,500Accounts 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 1,200Rent 5,000Telephone charges 620Wages and salaries 32,000Insurance 830Office expenses 600Sundry expenses 300402,670 402,670Inventory as at 30 September 2020 was £120,000.Required a. Draft an Income Statement for Airman Co. for the year ending 30th September 2020 b. The records show that the Airman Co. has been profitable during 10 years since 2009. Due to COVID-19 outbreak, explain the possible impact of COVID-19 on company Income statement items.
- Question 3You were recently employed as the Financial Controller at Covid Free Ltd. You were provided with the following information on April 1, 2018: Balance on April 1, 2020Debtors control Dr. $65, 145 Debtors control Cr. 600Creditors control Dr. 950Creditors control Cr. 75, 500Totals for the month of April 2020Cash purchases 35, 600Credit purchases 62, 600Cash Sales 47, 000Credit Sales 75, 000Contra entry: Set off 1, 800Refund to cash customers 2, 800Bad debt written off 3, 300Discount Allowed 3, 750Total payments to suppliers 87, 000Total receipt from customers 98, 800Discount received 5, 500Dishonoured cheques: customers 2, 900Increase in the allowance for bad debts 2, 100Return Inwards 2, 400Return Outwards 15, 200Balances at 30 April 2020Debtors control: Dr. ? Cr: $8 300 Creditors control: Dr. $7 500 Cr: ? Required: A. Prepare the Sales ledger control account B. Prepare the Purchases control accountFrom the balance sheet prepare a proforma income statement where revenues can increase by 2% and the firm can borrow at 5.5% BALANCE SHEET 2021 Cash and cash equivalents 280 Receivables 2588 Inventory 2516 Other CA 189 TOTAL CA 5573 Fixed assets 5024 TOTAL ASSETS 10597 Accounts payable 4713 Short term debt 78 TOTAL CL 4790 LT debt 921 Shareh. Equity 4886 TOTAL LIAB. AND SHARH. EQUITY 10597 INCOME STATEMENT 2021 Sales 19418 COGS 13136 Depreciations 354 SG&A 4952 EBIT 976 Interest Expenses 52 Tax 268 Net income 656 Pro-forma statement Pro Forma Forecasts Actual Projected Projected Projected Projected Projected 2021 2022 2023 2024 2025 2026 COGS/REVENUES SGA/SALES INVENTORIES/COGS OTHER CA/SALES AR/SALES AP/COGS SALES/FIXED ASSETS DEPR/ FIXED ASSETS EQUITY/INVESTED CAPITAL ST DEBT/INVESTED…You are requested to reconstruct the account of Kalang Kalang Supplies foranalysis.The following data were made available to you:· Gross margin for 2012 amounted to P472,500· Ending balance of merchandise inventory was P200,000· Long-term debt liabilities consisted of bonds payable with interest rate of20%· Total shareholders’ equity as of December 31, 2012 was P750,000· Gross margin ratio, 35%· Debt-to-equity ratio 0.8 to 1· Times interest earned 10· Quick ratio 1.3 to 1· Operating expenses to sales 18%
- Huluduey Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 2012 Dec. 31, 20Y1 $12,700 $12,400 59,500 60,200 28,600 28,300 28,000 26,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Accounts receivable Inventory Accounts payable Dividends payable X Open spreadsheet Adjust net income of $120,100 for changes in operating assets and liabilities to arrive at net cash flows from operating activities. 120,300 X Feedback Check My Work Once you have calculated the changes in the current operating assets and liabilities determine what impact those changes would have on cash. For example if accounts receivable has increased from last year to this year does that mean the company has collected more cash or less cash? If accounts payable has decreased does that mean the company has more cash or less cash?Please try to answer accurately and accordance with requirements.Thank you!The general ledger of Emerates Traders Ltd includes the following accounts as at 30 June 2018:$000Sales Revenue 8,280Dividend Received 126Interest Received 65Cost of Sales 1,105Selling and Distribution expenses 450Administration expenses 1,550Finance costs 16Valuation loss on trading investments (considered a material item) 250Income tax expense charged to profit and loss 1,500Expenses classified by nature include:Auditors Remuneration:Audit of accounts 20Information technology controls advice 5 25Depreciation expense:Buildings 120Plant and Equipment 225 345Additional InformationThe valuation loss on investments held for trading is not tax deductible.Task 4a. Complete a Statement of Comprehensive Income showing expenses classified byfunction on the face of the Income Statement together with notes to the incomestatement including the material item.- Note that Emerates Traders Ltd discloses material items on the…Please help with the following link answer the below. I cannot find the correct statement.https://investors.generalmills.com/financial-information/annual-reports/default.aspx Using the fiscal year end 2020 annual report for General Mills, Inc. and the figures from the 2020 annual report as noted below, calculate the financial ratios for 2020 and 2019 indicated using the EXCEL template provided:10. Average collection period11. Inventory turnover12. Days’ sales in inventory13. Debt-to-equity ratio14. Times-interest-earned ratio15. Operating-cash-flow-to-capital-expenditures ratio 16. Earnings per share17. Price-earnings ratio18. Dividend yield19. Dividend payout ratio Total assets 2020 = $30,806.7Total stockholders’ equity 2020 = $8,349.5Total current liabilities 2020 = $7,491.5Accounts receivable 2020 = $1,615.1Inventory 2020 = $1,426.3Year-end closing stock price May 2020 = $58.80Year-end closing stock price May 2019 = $53.56