You are required to complete this Balance sheet.
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Question 5: One of your team members is struggling with preparation of balance sheet and he needs your assistance in completing it. He has come up with following missing information. You are required to complete this Balance sheet.
| Assets |
Liabilities & Equity | ||
|
Cash |
$ 100,000 |
Current Liabilities |
|
|
Receivables |
Long Term Debt |
||
|
Inventory |
Total Debt |
||
|
Plant |
Common Equity |
$ 600,000 | |
|
Total Assets |
Total Claims |
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- One of your team members is struggling with preparation of balance sheet and he needs your assistance in completing it. He has come up with following missing information. You are required to complete this Balance sheet. Assets Liabilities & Equity Cash $ 100,000 Current Liabilities Receivables Long Term Debt Inventory Total Debt Plant Common Equity $ 600,000 Total Assets Total Claims Additional Information: Current Ratio is 2.5 ; Average Collection Period is 54 days ; Total Debt to Total Assets 40 percent ; Total Asset Turnover is 2 ; Inventory Turnover 5.One of your team members is struggling with preparation of balance sheet and he needs your assistance in completing it. He has come up with following missing information. You are required to complete this Balance sheet. Assets liabillities & Equity Cash $ 100,000 Current Liabillities Receivable Long term Debt --------- inventry Total Debt Plant ----------- Common Debt $ 600,000 Total Assets ------------- Total Claim ------------ Additional Information: Current Ratio = 2.5 Average Collection Period = 54 days Total Debt to Total Assets = 40% Total Asset Turnover = 2 Inventory Turnover = 5Problem 9-03 Fill in the blanks below with the correct entries. Round your answers to the nearest dollar. Assets Liabilities and Stockholders’ Equity Current Assets Current liabilities Cash $ 240,000 Accounts payable $ 530,000 Accounts receivable Notes payable to banks 80,000 ($ less allowance for Accrued wages doubtful accounts of $15,000) 1,040,000 Taxes owed 170,000 Inventory 1,470,000 Total current liabilities $ 1,220,000 Total current assets $ Long-term debt Land Stockholders’ equity Plant and equipment Common stock ($2,410,000 less ($1 par, 670,000 accumulated depreciation shares authorized, $ ) 1,580,000 640,000 outstanding) Total assets $ 4,670,000 Retained earnings Total stockholders’ equity $ 2,660,000 Total liabilities and equity $
- Question 4: Belmont Industries Balance Sheet, As at 31-Dec-01 Assets Liabilities & Equity Cash $ 100,000 Current Liabilities Receivables Long Term Debt Inventory Total Debt Plant Common Equity $ 600,000 Total Assets Total Claims Current Ratio 2.5 Average Collection Period 54 days Total Debt to Total Assets 40% Total Asset Turnover 2 Inventory Turnover 5Pete's Boats has beginning long-term debt of $180 and ending long-term debt of $310. The beginning and ending total debt balances are $340 and $360, respectively. The interest paid is $60. What is the amount of the cash flow to creditors? Select one: a. $0 b. -$10 c. $40 d. $10 e. -$70 ???Check and prepare the corrected classified Balance Sheet. Balance Sheet for the year ended 31 December 2021 Equity $ $ $ Capital 65,000 Less: Net Profit 26,550 Less: Drawings 7,000 31,450 Represented by: Current Assets Cash at Bank 27,200 Inventories 44,000 Creditors 27,350 Office Equipment 30,000 Add: Accumulated Depreciation – Office Equipment 10,000 40,000 138,550 Less: Current Liabilities Loan from OCBC (refer to Note 2) 40,000 Shares in Keppel 9,000 49,000 Working Capital 89,550 Non-Current Assets Accrued Revenue 600 Total Assets 90,150 Profit and Loss Statement as at 31 December 2021 $…
- The draft statement of financial position of B at 31 March 20X8 is set out below. $ $ Non-current assets 450 Current assets: Inventory 65 Receivables 110 Prepayments 30 205 Current liabilities: Payables 30 Bank overdraft (Note) 50 80 125 575 Non-current liability: Loan (75) 500 Ordinary share capital 400 Statement of profit or loss 100 500 Note: The bank overdraft first occurred on 30 September 20X7. What is the gearing of the company? You should calculate gearing using capital employed as the denominator. A 13% B 16% C 20% D 24%A debt of $1,500 has been written off as an irrecoverable receivable, six months later it is announced that the company will recover $500 out of $1,500- what will be the journal entry a- Debt-cash-500, credit receivable 500 b- Debit receivable- 500, credit irrecoverable receivable-500 c- Debit-receivable-500, credit-cash 500 d- Debit irrecoverable receivable expense-500,credit-allowance for irrecoverable receivables-5005. The followings ate the information about Rainbow National Bank:Report of Income Tk.Interest income 1,250Interest expense 500Total assets 40,000Securities losses or gains 1,000Earning assets 30,000Total liabilities 30,000Taxes paid 1,000Shares of common stock outstanding 3,000Noninterest income 8,000Noninterest expense 6,000Provision for loan losses 2,500Calculate ROE, ROA, Net interest margin, Earnings per share, Net noninterest marginand Net operating margin.Alternative Scenarios:Suppose interest income, interest expenses, noninterest income, and noninterestexpenses each decline by 5 percent while all other revenue and expense items shown inthe preceding table remain unchanged. What will be happen to Rainbow ROE, ROA,and earnings per share?
- Which one of the following transactions can immediately improve the Debt to Total Assets Ratio? A Receive $5,200 cash for services provided and recorded before. B Provide services and receive $5,000 cash. C Adjust for the consumption of supplies after the annual stocktake. D Purchase Vehicle for $6,000 on credit. E Pay $2,300 annual insurance premium.Study the following balance sheet to help you prepare for your upcoming interview for an entry-level analyst position at Galaxy Corporation. Galaxy Corporation Balance Sheet Cash $656,250 Accounts payable $1,575,000 Accounts receivable $2,296,875 Accruals $984,375 Inventory $3,609,375 Notes payable $1,378,125 Total current assets $6,562,500 Total current liabilities $3,937,500 Long-term debt $6,562,500 Total debt $10,500,000 Common equity $2,100,000 Net plant and equipment $10,937,500 Retained earnings $4,900,000 Total equity $7,000,000 Total assets $17,500,000 Total liabilities and equity $17,500,000 During your interview for an introductory-level analyst position at Galaxy Corporation, the interviewer asks you to complete the following table using the information provided in the preceding balance sheet. Net Working Capital $__________________________ Current Ratio…PROBLEM 1 You have been engaged to prepare audited financial statement figures for BOURNE, Inc. The records are in agreement with the following balance sheet: BOURNE, INC. Balance Sheet December 31, 2017 Assets Liabilities and Capital Cash P10,000 Accounts Payable P10,000 Accounts 12,000 Notes Payable 3,000 receivable Notes receivable 13,000 Common Stock 20,000 Inventory 25,000 Additional paid-in 40,000 capital Equipment- net 40,000 P100,000 Retained Earnings 27,000 P100,000 A review of the records of the corporation indicates that the errors and omissions listed in the table below had not been corrected during the applicable years: Inventory Inventory Depreciation Prepaid Unearned Accrued December Overstated Understated Expense Expense Income Expense 31 2014 --- P6,000 P250 P900 --- P200…
