Valero Energy's balance sheet showed total current assets of $3,000, all of which were required in operations (i.e., no excess cash). Its current liabilities consisted of $885 of accounts payable, $600 of 6% short-term notes payable to the bank, and $250 of accrued wages and taxes. What was its net operating working capital (NOWC)?
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Net operating working capital is the difference between a company's current assets (excluding cash and cash equivalents) and its current liabilities and represents the funds that are tied up in the company's daily operations. It measures a company's ability to meet its short-term obligations and is an important indicator of financial health and stability. A positive net operating working capital means the company has enough liquid assets to pay off its short-term debts, while a negative value signals a potential risk of default.
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- Vigo Vacations has $200 million in total assets, $5 million in notes payable, and $25 million in long-term debt. What is the debt ratio?BB Incorporated had the following balances of assets and liabilities in 2022: Beginning balances: Cash and cash equivalents P250,000 Accounts payable P120,000 Trade and other receivables 150,000 Notes payable 80,000 Inventories 210,000 Bonds payable 200,000 Prepaid expenses 50,000 Mortgage payable 240,000 Property, plant and equipment - net 350,000 Ending balances: Cash and cash equivalents P230,000 Accounts payable P100,000 Trade and other receivables 250,000 Notes payable 60,000 Inventories 300,000 Bonds payable 170,000 Prepaid expenses 40,000 Mortgage payable 240,000 Property, plant and equipment - net 300,000 How much is the net income in 2022?The net changes in the balance sheet accounts of Linda, Inc. for the year 2021 are shown below: Account Debit Credit Cash $ 217,900 Accounts receivable $ 63,100 Allowance for doubtful accounts 11,700 Inventory 195,900 Prepaid expenses 22,300 Long-term investments 147,000 Land 410,000 Buildings 655,000 Machinery 92,000 Office Equipment 30,000 Accumulated depreciation: Buildings 24,500 Machinery 18,100 Office Equipment 15,000 Accounts payable 183,900 Accrued liabilities 75,000 Dividends payable 128,500 Premium on bonds 37,600 Bonds payable 940,000 Preferred stock ($50 par) 74,400 Common stock ($10 par) 160,000 Additional paid-in capital—common 298,400 Retained earnings 67,500 $1,933,900 $1,933,900 Additional information: 1. Net income $165,500 2.…
- The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents $ 5,000Accounts receivable (net) 20,000Inventory 60,000Property, plant, and equipment (net) 120,000Accounts payable 44,000Salaries payable 15,000Paid-in capital 100,000 The only asset not listed is short-term investments. The only liabilities not listed are $30,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.5:1.Required:Determine the following…The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents $ 6,400 Accounts receivable (net) 34,000 Inventory 74,000 Property, plant, and equipment (net) 190,000 Accounts payable 53,000 Salaries payable 14,000 Paid-in capital 170,000 The only asset not listed is short-term investments. The only liabilities not listed are $44,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.8:1. Required:Determine the following at December 31, 2021: Total Current Asset? Short Term Investment? Retained Earnings?Positivity Company provided the following information on December 31, 2020 ( in their normal balances): Accounts Receivable- 350,000; Accounts payable - 200,000; Accrued Expenses - 150,000; Building in progress - 500,000; Cash in bank - 200,000; Cash surrender value - 150,000; Merchandise Inventory - 580,000; Office equipment - 200,000; Share Capital - 1,500,000; Accummulated profits - 400,000. Revaluation Surplus - 50,000. What is the total current assets? * 1,780,000 1,280,000 1,130,000 answer not given
- 1.Positivity Company provided the following information on December 31, 2020 ( in their normal balances): Accounts Receivable- 350,000; Accounts payable - 200,000; Accrued Expenses - 150,000; Building in progress - 500,000; Cash in bank - 200,000; Cash surrender value - 150,000; Merchandise Inventory - 580,000; Office equipment - 200,000; Share Capital - 1,500,000; Accummulated profits - 400,000. Revaluation Surplus - 50,000. What is the total current assets? a. 1,780,000 b. 1,280,000 c. 1,130,000 d. answer not given 2. Selected data for ABC Co. for 2020 are as follows: Decrease in merchandise inventory: P20,000 increase in accounts payable: P50,000 Disbursements for purchases of merchandise: P580,000. How much is the 2020 Cost of goods sold? a. P510,000 b. P550,000 c. P610,000 d. P650,000 e. answer not given 3. On May 1, 2020, GAL Co. purchased a short-term P2,000,000 face value, 9% debt instruments for P1,860,000…Valero’s energy’s balance sheet showed total current assets of $3000 all of which were required in operations. It’s current liabilities consists of $905 of accounts payable $600 of 6% short term notes payable to the bank and $250 of acute wages and taxes. What was its net operating working capital?NNR Inc.'s balance sheet showed total current assets of $1,875,000 plus $4,225,000 of net fixed assets. All of these assets were required in operations. The firm's current liabilities consisted of $475,000 of accounts payable, $375,000 of 6% short-term notes payable to the bank, and $150,000 of accrued wages and taxes. Its remaining capital consisted of long-term debt and common equity. What was NNR's total operating capital?
- Carmela Company, as of December 31, 2021 provided the following balances: Cash, net of a P7,000 overdraft 80,000 Receivable, net of customer credit balances totaling P6,000 30,000 Inventory (P20,000 of which are held on consignment) 60,000 Prepayments 10,000 Property, plant and equipment, net of accumulated depreciation of P15,000 90,000 Accounts payable net of debit balances in suppliers’ accounts of P3,000 45,000 Notes payable – bank, due on July 2022 25,000 Income tax payable 15,000 Total current assets reported in the December 31, 2021 balance sheet isSwinnerton Clothing Company's balance sheet showed total current assets of $2,450, all of which were required in operations. Its current liabilities consisted of $550 of accounts payable, $300 of 5% short-term notes payable to the bank, and $165 of accrued wages and taxes. What was its net operating working capital that was financed by investors? Group of answer choices $1,892 $1,659 $1,812 $1,976 $1,735Presented below is the trial balance of Scott Butler Corporation at December 31, 2020. Debit Credit Cash $ 197,000 Sales Revenue $ 8,100,000 Debt Investments (trading) (at cost, $145,000) 153,000 Cost of Goods Sold 4,800,000 Debt Investments (long-term) 299,000 Equity Investments (long-term) 277,000 Notes Payable (short-term) 90,000 Accounts Payable 455,000 Selling Expenses 2,000,000 Investment Revenue 63,000 Land 260,000 Buildings 1,040,000 Dividends Payable 136,000 Accrued Liabilities 96,000 Accounts Receivable 435,000 Accumulated Depreciation—Buildings 152,000 Allowance for Doubtful Accounts 25,000 Administrative Expenses 900,000 Interest Expense 211,000 Inventory 597,000 Gain 80,000 Notes Payable (long-term) 900,000 Equipment 600,000 Bonds Payable 1,000,000 Accumulated Depreciation—Equipment 60,000 Franchises 160,000 Common Stock ($5 par) 1,000,000 Treasury…