Which of the following types of information is not found in financial statements? * O Profits O Revenue O Selling prices Assets O O
Q: Which one of the following statements is not correct regarding financial accounting and management…
A: Financial Accounting - This is a branch of accounting under which business transactions are recorded…
Q: What is needed to solve a Return on Assets? Balance sheet only or Balance Sheet with Income…
A: Business needs and calculates various type of ratios in its business. These ratios are meant for…
Q: hy is it important to understand financial statem
A: Financial statement are representation of the performance of company and are show how is company…
Q: One of advantage of accounting rate of return, "lt is based on accounting profits which are subject…
A: Lets understand the meaning of accounting profit. Accounting profit is a profit which indicates the…
Q: Which of the following elements of financial statements is most closely related to measurement of…
A: The financial statements comprises of income statement, balance sheet and cash flow statement.…
Q: Which of the following is not an element of the financial statements? Multiple Choice Net income…
A: Solution:- Introduction:- The following items is not a element in financial statements as follows…
Q: asis accounting. Explain with examples?
A: Answer: Basis of differences Cash Basis Accrual Basis Types of transactions recorded Only cash…
Q: How does expense recognition impact the accounting equation
A: The accounting equation states that assets equal to sum of liabilities and equity.
Q: What does it mean that FIFO has a balance-sheet focus and LIFO has an income-statement focus?
A:
Q: Which of the following is not a financial statement? O Bank statement Income statement Balance sheet…
A: The income statement shows all the revenue, expenses, and net profit/loss. The income statement is…
Q: The accounting equation can be restated as: Assets - Equity = Liabilities. True or False True False
A: Solution: The basic accounting equation, also named as balance sheet equation, reflects the…
Q: Choose one:A) It is possible for the Income Statement to balanceB) The Income Statement always…
A: Income statement: The financial statement which reports revenues and expenses from business…
Q: Accrual accounting is the main takeaway here due to the what principle
A: Accrual accounting is an accounting method where revenue or expenses are recorded when a transaction…
Q: From othe basic accounting equation Assets = Liabilities + Owners Equity, where does uncollectible…
A: As per accounting equation, assets = Liabilities + owners' equity
Q: Which of the following is not one of the major groups that make up the balance of payments? O a.…
A: A balance of payments account is an account of a corporation through which the corporation measures…
Q: Is there a type of accounting that is not financial accounting?
A: Yes, there are two type of accounting which is not a financial accounting.
Q: The income statement might also be called all of the following except: Group of answer choices…
A: Income statement: The income statement determines the net income of the business by subtracting the…
Q: Which of the following is not one of the major groups that make up the balance of payments? O a.…
A: Balance of payment is a statement which records all the transactions of monetary nature incurred…
Q: What items are not presented on the income statement?
A: Income statement:The financial statement which reports revenues and expenses from business…
Q: financial assets generate net income to the economy, while real assets define the allocation of…
A: Financial assets are assets are liquid assets that can easily and quickly be converted into cash…
Q: What are the accounts in which capital and debts are monitored and which pay the remainder? A) Cost…
A: What are the accounts in which capital and debts are monitored and which pay the remainder?
Q: In accounting terms, what is the difference between profit and loss
A: Accounting is based on the principle of double-entry. It may be described as how a company records…
Q: Credits always decrease which accounts? Assets and Common Stock Assets and Expenses Liabilities and…
A:
Q: D) going concern?example E) periodicity?example F)Revenue recognition principle? Example…
A: The accounting principles seem to be the basic rules and procedures that businesses must adhere to…
Q: Compute the amount of the missing element of financial position.
A: Answer: We have in our financials, Debit side is always equal to credit side or we say Assets =…
Q: What are the differences between EVA and net profit in accounting
A: Introduction : Businesses may assess investment prospects using economic value-added and accounting…
Q: 4. Which of the following is not an element of a statement of comprehensive income? a. Interest…
A: The question is multiple choice question. Required Choose the Correct Option.
Q: The financial statements are based on the most basic tool of accounting. True or false? Explain how?
A: Financial statements: Financial statements are condensed summary of transactions communicated in the…
Q: What is probably the greatest single reason conventional financial statements are inadequate for…
A: Generally Accepted Accounting Principles (GAAP): These are the guidelines necessary to create…
Q: WHich of the following is not a major element of the accounting equation. cashflow, expenses,…
A: 1. Accounting Equation - Accounting Equation is calculated using following equation - Assets =…
Q: When it comes to financial statements and financial reporting, what's the difference?
A: Financial statements and financial reporting will be explained:
Q: at is accural vs cash basis accounting. Explain with example.
A: Cash Accounting: A form of accounting in which receipts are reported during the period in which they…
Q: Which of the following is not an element of the income statement? Revenues. Liabilities. Expenses.…
A: Business companies compile income statements in order to determine how much gross profit or net…
Q: Which of the following is the correct Basic Accounting Equation Oa ASSET + LIABILITIES= STOCK…
A: Accounting equation depicts the relationship between liabilities, assets and stockholders' equity of…
Q: Explain why the income statement can also be called a “profit-and-loss statement.” What exactly does…
A: (a) The income statement can also be called a “profit-and-loss statement" because it is a financial…
Q: The income statement adequately reflects all operating, investing, and financing activities. True…
A: Cash Flow Statement: Cash Flow Statement is a fundamental financial statement that renders valuable…
Q: Due to which concept, accounting does not record non-financial transactions? O a. Going concern…
A: Accounting principles are those rules, regulations and guidelines which are used by the accountants…
Q: It is important to determine the correct amount of liabilities on a balance sheet because if you do…
A: An accounting equation refers to a mathematical representation of the transaction. It indicates that…
Q: Which of the following is not a general ledger account? Net income Revenue Dividends Unearned…
A: General ledger account is used to prepare financial statement in a proper way.One can't imagine…
Q: Which of the following is a connector account? O Retained Earnings O Prepaid Rent O Common Stock O…
A: Connector accounts are those accounts which connects or joins two particular financial statements.
Q: Which of the following is not a proper representation of the accounting equation? Equity = Assets…
A: Total assets should always equal the total of liabilities and equity.
Q: Which of the following is not one of the major groups that make up the balance of payments? O a.…
A: Correct answer is option (c) profit Account.
Q: A debit is not the normal balance for which of the following? O a) Asset account b) Dividends…
A: Normal debit balance include assets expenses and losses Nature of Account Normal Balance…
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- The following information is about Green Tea Ltd. Year Net income ($’000 000) Beginning book value of equity ($’000 000) 1 32 42 2 28 39 3 44 47 Required: Calculate Equity value using discounted abnormal earnings valuation method. The cost of capitalis 10%.Bob's Inc has the following balance sheet and income statement data see image... The new CFO thinks that inventory are excessive and could be lowered to cause the current ratio to equal industry average 3.00 w/o affecting either sales or net income. assuming that inventories are sold off and not replaced to get the current ratio to the target level and that the funds generated are used to buy back common stock at book value, by how much would the ROE change?Some selected financial statement items belonging to MNO Company are given in the table below. According to this information, which of the following is Return on Equity (ROE)? Inventory 25000 Current Assets 50,000 Current Liabilities 30,000 Non-current Assets 80,000 Net Profit 12,240 owner Equity 68,000 Select one: a. The correct answer not available b. 0.81 c. 0.18 d. 0.359
- Pickler Company has a debt-equity ratio of 1.39. Return on assets is 7.64 percent, and total equity is $695,000. a. What is the equity multiplier? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the return on equity? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c. What is the net Income?Triano Train Transports shows the following on their most recent balance sheet: Current Assets: 1871Total Liabilities: 1994Inventory: 458Net working Capital: 1111Total Assets: 3007Total Equity: 1636Total Debt: 2602Earnings per Share: 3.22Market Value: 60.03 You want to identify if the company is highly leveraged and therefore a higher risk for you as an investor. Specifically, you want to find out how much debt the company has in comparison to each dollar of equity. Determine which ratio to use, calculate it and put the number in the answer.The Debt-equity ratio of a company is 1:2, state giving reasons which of thefollowing would improve, reduce or no change the ratio:-1) Debenture redeemed for cash2) Issue new equity shares3) Payment of Proposed dividends4) Goods Purchased on Credit5) Goods Purchased on Cash6) Redemption of Debentures against the Purchase of a Fixed Assets.
- How should the company respond to the ongoing situation to mitigate risk of failing the working capital given the following financial ratio? 1. Liquidity ratio : current ratio: 2.61xquick ratio: 2.56cash ratio: 0.85 2. Accounts receivable turnover: 4.08Ave collection period: 89.46 days 3. Inventory turnover: 38.76ave age of inventory: 9.42 4. Average payable turnover: 1.04ave payment period: 350.96 Note: Their working capital is 22,887,683 Current asset (37,127,683) - current liabilities (14,260,065) = 22,887,683Paulson Company had the following on the dates indicated:12/31/18 12/31/17Total assetsTotal liabilities$ 530,00036,000$ 350,00023,000Paulson had no stock transactions in 2018, so the change in stockholders’ equity for 2018 wasdue to net income and dividends. If dividends were $75,000, how much was Paulson’s netincome for 2018? Use the accounting equation and the statement of retained earnings.a. $92,000b. $242,000c. $167,000d. $317,000) Indicate the immediate effects (increase, decrease, no effect) of each of the following independent transactions on (1) the rate of return on shareholders’ equity, (2) the current ratio, and (3) the liabilities to assets ratio. State any necessary assumptions. A firm purchases, on account, merchandise inventory costing $205,000. A firm sells for $150,000, on account, merchandise inventory costing $120,000. A firm collects $100,000 from customers on accounts receivable. A firm pays $160,000 to suppliers on accounts payable. A firm sells for $10,000 a machine costing $40,000 and with accumulated depreciation of $30,000. A firm declares dividends of $80,000. It will pay the dividends during the next accounting period. A firm issues common stock for $75,000. A firm acquires a machine costing $60,000. It gives $10,000 cash and signs a note for $50,000 payable five years from now for the balance of the purchase price.
- Use the information for the question(s) below. In November 2009, Perrigo Co. (PRGO) had a share price of $39.20. They had 91.33 million shares outstanding, a market-to-book ratio of 3.76. In addition, PRGO had $845.01 million in outstanding debt, $163.82 million in net income, and cash of $257.09 million. Perrigo's market debt to equity ratio is closest to: A) 0.24 B) 0.50 C) 0.75 D) 0.89Give typing answer with explanation and conclusion Internal Growth Rate Leash N Collar reported a profit margin of 8.1%, total asset turnover ratio of 1.6 times, debt-to-equity ratio of 0.76 times, net income of $410,000, and dividends paid to common stockholders of $210,000. The firm has no preferred stock outstanding. What is Leash N Collar's internal growth rate? (Do not round intermediate steps.) a. - 6.7486% b. - 7.716% c. - 11.3457% d. - 8.8139%Profitability metrics The following selected data were taken from the financial statements of The O'Malley Group Inc. for December 31, 20Y5. 20Y4. and 20Y3: No dividends on common stock were declared between 20Y3 and 20Y5. a.Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity Tor the years 20Y4 and 20Y5. Round to one decimal place. b. What conclusions can be drawn from these data as to the company's profitability?
