Financial & Managerial Accounting
13th Edition
ISBN: 9781285866307
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Question
Chapter 13, Problem 4APR
a)
To determine
Available-for-sale securities:
These are short-term or long-term investments in debt and equity securities with an intention of holding the investment for some strategic purposes like meeting liquidity needs, or manage interest risk.
To find: The missing amounts (a) to (i)
(b)
To determine
To Compute: valuation allowance for available-for-sale investment, for 2017.
(c)
To determine
To Compute: available-for-sale investment, (fair value), for 2017:
(d)
To determine
To Compute: interest receivable for 2017.
(e)
To determine
To Compute: Investment in Company J Stock, for 2017.
(f)
To determine
To Compute: total assets value for 2017.
(g)
To determine
To Compute:
(h)
To determine
To Compute: unrealized gain (loss) on available-for-sale investment, for 2017.
(i)
To determine
To Compute: total liabilities and
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The income statement and unclassified statement of financial position for Sunland, Inc. follow:
SUNLAND, INC.Statement of Financial PositionDecember 31
Assets
2018
2017
Cash
$98,400
$47,600
Held for trading investments
130,000
116,000
Accounts receivable
71,000
41,400
Inventory
123,600
93,650
Prepaid expenses
18,000
28,600
Property, plant, and equipment
309,000
282,000
Accumulated depreciation
(45,500
)
(53,300
)
Total assets
$704,500
$555,950
Liabilities and Shareholders’ Equity
Accounts payable
$96,000
$77,500
Accrued liabilities
10,800
7,800
Bank loan payable
153,700
191,150
Common shares
200,000
160,000
Retained earnings
244,000
119,500
Total liabilities and shareholders’ equity
$704,500
$555,950
SUNLAND, INC.Income StatementYear…
How do I calculate the Net Operating Assets for 2015 and 2016
(in thousands)
Dec. 29, 2016
Dec. 30, 2015
Cash and cash equivalents
$ 100,692
$ 105,776
Short-term investments
449,535
507,639
Accounts receivable, net
197,355
207,180
Prepaid assets
15,948
19,430
Other current assets
32,648
22,507
Total current assets
796,178
862,532
Long-term marketable securities
187,299
291,136
Investments in joint ventures
15,614
22,815
Property plant and equipment, net
596,743
632,439
Goodwill
134,517
109,085
Deferred income taxes
301,342
309,142
Miscellaneous assets
153,702
190,541
Total assets
$2,185,395
$2,417,690
Accounts payable
$ 104,463
$ 96,082
Accrued payroll and other related liabilities
96,463
98,256
Unexpired subscriptions
66,686
60,184
Current portion of long-term debt
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Use the current asset section of the balance sheets of the Waverley Company as of June 30, 2017 and 2016 presented below to answer the questions that follow.
2017 2016Cash and cash equivalents R 75,000 R 58,800Trade accounts receivable, net 157,500 193,200Inventory 208,200 253,400Other current assets 18,400 15,500Total current assets R 459,100 R 520,900Total assets R2,650,000 R3,430,000Required:Complete a horizontal analysis of the current asset section of Waverley Company’s balance sheet for 2017. Your answers for “% Change” should be rounded to one decimal place, e.g.,…
Chapter 13 Solutions
Financial & Managerial Accounting
Ch. 13 - Prob. 1DQCh. 13 - What causes a gain or loss on the sale of a bond...Ch. 13 - Prob. 3DQCh. 13 - Prob. 4DQCh. 13 - Prob. 5DQCh. 13 - Prob. 6DQCh. 13 - Prob. 7DQCh. 13 - Prob. 8DQCh. 13 - What are the factors contributing to the trend...Ch. 13 - Prob. 10DQ
Ch. 13 - Prob. 1APECh. 13 - Bond investment transactions Journalize the...Ch. 13 - Prob. 2APECh. 13 - Stock investment transactions On September 12,...Ch. 13 - Prob. 3APECh. 13 - Prob. 3BPECh. 13 - Prob. 4APECh. 13 - Prob. 4BPECh. 13 - Prob. 5APECh. 13 - Prob. 5BPECh. 13 - Prob. 6APECh. 13 - Prob. 6BPECh. 13 - Prob. 1EXCh. 13 - Prob. 2EXCh. 13 - Prob. 3EXCh. 13 - Prob. 4EXCh. 13 - Prob. 5EXCh. 13 - Entries for investment in stock, receipt of...Ch. 13 - Prob. 7EXCh. 13 - Prob. 8EXCh. 13 - Entries for stock investments, dividends, and sale...Ch. 13 - Prob. 10EXCh. 13 - Prob. 11EXCh. 13 - Prob. 12EXCh. 13 - Prob. 13EXCh. 13 - Prob. 14EXCh. 13 - Prob. 15EXCh. 13 - Prob. 16EXCh. 13 - Fair value journal entries, trading investments...Ch. 13 - Prob. 18EXCh. 13 - Prob. 19EXCh. 13 - Prob. 20EXCh. 13 - Prob. 21EXCh. 13 - Prob. 22EXCh. 13 - Prob. 23EXCh. 13 - Prob. 24EXCh. 13 - Prob. 25EXCh. 13 - Prob. 26EXCh. 13 - Prob. 27EXCh. 13 - Prob. 28EXCh. 13 - Prob. 29EXCh. 13 - Debt investment transactions, available-for-sale...Ch. 13 - Prob. 2APRCh. 13 - Stock investment transactions, equity method and...Ch. 13 - Prob. 4APRCh. 13 - Prob. 1BPRCh. 13 - Prob. 2BPRCh. 13 - Stock investment transactions, equity method and...Ch. 13 - Prob. 4BPRCh. 13 - Selected transactions completed by Equinox...Ch. 13 - Benefits of fair value On July 16, 1998, Wyatt...Ch. 13 - Prob. 2CPCh. 13 - Prob. 3CPCh. 13 - Prob. 4CP
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