Managerial Accounting: Tools for Business Decision Making 7e + WileyPLUS Registration Card
7th Edition
ISBN: 9781119036432
Author: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Publisher: Wiley (WileyPLUS Products)
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Chapter 13, Problem 16Q
During 2017. Doubleday Company converted $1,700.000 of its total $2,000,000 of bonds payable into common stock. Indicate how the transaction would be reported on a statement of
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Below are Laiho Industries’ 2017 and 2018 balance sheet items:
2018
2017
Cash
$ 102,850.00
$ 89,725.00
Accounts Receivable
$ 103,365.00
$ 85,527.00
Long-Term Debt
$ 76,264.00
$ 63,914.00
Accounts Payable
$ 30,761.00
$ 23,109.00
Common Stock (total value)
$ 100,000.00
$ 90,000.00
Notes Payable
$ 16,717.00
$ 14,217.00
Net Fixed Assets
$ 67,165.00
$ 42,436.00
Accruals
$ 30,477.00
$ 22,656.00
Inventories
$ 38,444.00
$ 34,982.00
Retained Earnings
$ 57,605.00
$ 38,774.00
Sales for 2018 were $455,150, and EBITDA was 15% of sales. Furthermore, depreciation and amortization were 11% of net fixed assets, interest was $8,575, the corporate tax rate was 40%, and Laiho pays 40% of its net income as dividends.
Given this information, construct the firm’s 2018…
Nash's Trading Post, LLC issued 14800 shares of $1 par common stock for $40 per share during 2022. The company paid dividends of $36000 and issued long-term notes payable of $326000 during the year. What amount of cash flows from financing activities will be reported on the statement of cash flows?
The following are selected account balances for ABC Co. at 31 December 2016:
Statement of Financial Position
Non-Current Liabilities
Bonds payable
$1,126,593
Notes Payable
$1,265,647
Cash Flow Statement
Cash Flow from Financing Activities
Note Payable Installment $500,000
Cash paid for interest
$100,000
Income Statement
Interest Expense
$236,477.1
Further Information:
• The Bonds payable were issued on 01 January 2016 for $1,135,903. They are 10-
year bonds with interest paid semiannually on June 30 and December 30.
• ABC Co. uses the effective-interest method of amortization.
The notes payable are 5-year, zero-interest bearing notes that are issued on 01
January 2015 and payable in equal installments of $500,000 on December 31.
Required:
NOT
For ABC Co.:
a. Calculate the issue price of the notes payable.
b. Assume that ABC Co. extinguished 70% of bonds on January 1, 2017, by
exchanging a building with a fair value of $800,000. The building had an original
cost of $1,200,000 and a book…
Chapter 13 Solutions
Managerial Accounting: Tools for Business Decision Making 7e + WileyPLUS Registration Card
Ch. 13 - (a) What is a statement of cash flows? (b) Mark...Ch. 13 - Prob. 2QCh. 13 - Prob. 3QCh. 13 - Prob. 4QCh. 13 - Prob. 5QCh. 13 - Prob. 6QCh. 13 - Prob. 7QCh. 13 - Contrast the advantages and disadvantages of the...Ch. 13 - Prob. 9QCh. 13 - Prob. 10Q
Ch. 13 - Prob. 11QCh. 13 - Prob. 12QCh. 13 - Prob. 13QCh. 13 - Prob. 14QCh. 13 - Prob. 15QCh. 13 - During 2017. Doubleday Company converted 1,700.000...Ch. 13 - Prob. 17QCh. 13 - Prob. 18QCh. 13 - Prob. 19QCh. 13 - Prob. 20QCh. 13 - Prob. 21QCh. 13 - Prob. 13.1BECh. 13 - Classify items by activities. (LO 1), C Classify...Ch. 13 - Prob. 13.3BECh. 13 - Prob. 13.4BECh. 13 - Prob. 13.5BECh. 13 - Prob. 13.6BECh. 13 - Prob. 13.7BECh. 13 - Prob. 13.8BECh. 13 - Prob. 13.9BECh. 13 - Prob. 13.10BECh. 13 - The management of Morrow Inc. is trying to decide...Ch. 13 - Prob. 13.12BECh. 13 - Prob. 13.13BECh. 13 - Prob. 13.14BECh. 13 - Prob. 13.1DICh. 13 - Prob. 13.2DICh. 13 - Prob. 13.3DICh. 13 - Tabares Corporation had these transactions during...Ch. 13 - An analysis of comparative balance sheets, the...Ch. 13 - Cushenberry Corporation had the following...Ch. 13 - Prob. 13.4ECh. 13 - The current sections of Scoggin Inc.s balance...Ch. 13 - Prob. 13.6ECh. 13 - Rojas Corporations comparative balance sheets are...Ch. 13 - Here are comparative balance sheets for Velo...Ch. 13 - Prob. 13.9ECh. 13 - Compute net cash provided by operating...Ch. 13 - Suppose a recent income statement for McDonalds...Ch. 13 - Compute cash flow from operating activitiesdirect...Ch. 13 - The following information is taken from the 2017...Ch. 13 - You are provided with the following transactions...Ch. 13 - The following account balances relate to the...Ch. 13 - The income statement of Whitlock Company is...Ch. 13 - Prob. 13.4APCh. 13 - Prob. 13.5APCh. 13 - Prob. 13.6APCh. 13 - Prob. 13.7APCh. 13 - Prob. 13.8APCh. 13 - Prob. 13.9APCh. 13 - Prob. 13.10APCh. 13 - Prob. 13.11APCh. 13 - Prob. 13.1BYPCh. 13 - Prob. 13.2BYPCh. 13 - Comparative Analysis Problem: Amazon.com, Inc. vs....Ch. 13 - Prob. 13.4BYPCh. 13 - Prob. 13.5BYPCh. 13 - Prob. 13.7BYPCh. 13 - Ethics Case Wesley Corp. is a medium-sized...Ch. 13 - Prob. 13.9BYP
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- The Murdock Corporation reported the following balance sheet data for 2024 and 2023: Cash Available-for-sale debt securities (not cash equivalents) Accounts receivable Inventory Prepaid insurance Land, buildings, and equipment Accumulated depreciation Total assets Accounts payable Salaries payable Notes payable (current) Bonds payable Common stock Retained earnings Total liabilities and shareholders' equity 2024 $ 80,705 17,000 83,000 168,000 1,770 1,256,000 (613,000) $ 993,475 $ 79,040 21, 200 27,700 203,000 300,000 362,535 $ 993,475 Additional Information for 2024: (1) Sold available-for-sale debt securities costing $71,000 for $75,800. (2) Equipment costing $20,000 with a book value of $5,300 was sold for $6,450. (3) Issued 6% bonds payable at face value, $203,000. (4) Purchased new equipment for $148,000 cash. (5) Pald cash dividends of $21,500. (6) Net Income was $53,000. 2023 $ 24,755 88,000 70,950 147,700 2,300 1,128,000 (575,000) $ 886,705 $ 151,670 26,000 78,000 8 300,000…arrow_forwardSW Company provides the Equity & Liability information below for analysis. SW Company had net and $335,800 in 2022. Equity and Liabilities Share capital-common (136,400 shares issued) Retained earnings (Note 1) Accrued liabilities Notes payable (current) Accounts payable Total equity and liabilities Note 1: Cash dividends were paid at the rate of $1 per share in 2022 and $2 per share in 2023. Required: 1. Calculate the return on common share equity for 2022 and 2023. (Assume total equity was $1,439,00 (Round your answers to 1 decimal place.) Return on equity 2022 23.3 % 2023 26.0 % Prox 5 2023 2022 $1,242,000 $1,242,000 417,700 300,000 9,100 6,100 76,600 66,700 63,300 182,500 $1,808,700 $1,797,300 ‒‒‒ - Nextarrow_forwardhas the following balance sheet (December 31, 2023). The figures are in $ million. Cash Short-term investments Accounts receivable Inventory Current assets Gross fixed assets Accumulated deprec. Net fixed assets $40 30 30 70 170 250 50 200 Total assets Accounts payable Accruals Notes payable $370 Current liabilities Long-term debt Common stock (par value=$1) Retained earnings Total common equity Total liab. & equity Note that only 50% of "cash" (shown in the balance sheet above) is used in operation. $30 50 10 90 70 30 180 210 Use the above information to answer questions 8 8. What is its total operating capital for 2023? $240 m $370arrow_forward
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