Chapter 2, Problem 1ANFS

ACCOUNTING Carry out the following practical case: The company “Inversiones San Remo SAC”, with RUC: 20234125239, began activities in 2005, is dedicated to the manufacture of curtains, operates in its own premises located in La Victoria, has 33 employees (monthly average), and According to the General Shareholders' Meeting, in 2018 they calculated the dividend distribution of 40%. They request to assemble the Financial Statements with the following information:   Prepare the 2018 Income Statement. Prepare the Statement of Financial Position 2017 and 2018. Statement of Cash Flow for the year 2018. Direct method Perform the acid test calculation, the two periods and explain what the results found mean   Notes to the Financial Statements: Selling expenses correspond to depreciation expenses for 2018. Administrative expenses corresponding to payroll expenses (salaries) for the 2018 financial year. Financial income corresponds to earnings from the profitability of cash surpluses that…

You are a manager at Zoetis, Inc. You will research the company and provide information about it to its new CEO. As part of your research, you will review the company’s financial statements provided in an Excel file and complete Horizontal and Vertical Balance Sheet and Income Statement Analysis in the Excel file. Zoetis Statement of Consolidated Operations (USD $) 12 Months Ended In Millions, except Per Share data, unless otherwise specified Dec. 31, 2017 Dec. 31, 2016 Income Statement [Abstract]     Net Sales  $ 5,307  $ 4,888 Cost of Goods Sold 1,775 1,666 Gross Profit 3,532 3,222 Operating Expenses     Selling, general and administrative expenses 1,334 1,364 Research and development expenses 382 376 Amortization of intangible assets 91 85 Restructuring charges and certain acquisition-related costs 19 5 Total Operating Expenses 1,826 1,830 Income from Operations 1,706 1,392 Interest expense, net of capitalized interest 175 166 Other…

Accounting Research Problem Refer to the annual report of General Mills, Inc. for the year ending May 28, 2017 (fiscal year 2017), available on this book’s Website. Review the consolidated balance sheets.a. Identify two assets listed in the consolidated balance sheets that indicate that General Mills uses the accrual basis of accounting. Which income statement accounts of General Mills are affected by adjustments to these assets accounts?b. Identify two liabilities listed in the consolidated balance sheets that indicate that General Mills uses the accrual basis of accounting. Which income statement accounts of General Mills are affected by these adjustments?

The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are given below for Wright Company. Additional information from Wright's accounting records is provided also.    WRIGHT COMPANYComparative Balance SheetsDecember 31, 2016 and 2015($ in 000s)   2016 2015 Assets           Cash $ 125    $ 110     Accounts receivable   151      155     Short-term investment   56      20     Inventory   155      150     Land   114      140     Buildings and equipment   740      560        Less: Accumulated depreciation   (211)     (155)             $ 1,130    $ 980              Liabilities           Accounts payable $ 46    $ 51     Salaries payable   4      7     Interest payable   5      4     Income tax payable   9      13     Notes payable   0      36     Bonds payable   332      260   Shareholders' Equity           Common stock   435      360     Paid-in capital—excess of par   200      180     Retained earnings   99…

Below is the balance sheet and income statement for Chin Corporation. You are needed to analyze the financial statements. Use the horizontal, vertical, ratio methods to analyze the financial statements. For the vertical and horizontal analysis, type the accounts and dollar values for the years 2018 and 2017 (as listed on the financial statements even if there is no dollar value for an account). For the ratio analysis, make sure to compute 2 ratios from each section.  Income Statement Period Ending: 12/31/2018 12/31/2017     Total Revenue $76,512,000 $78,291,000     Cost of Revenue $54,884,000 $56,586,000     Gross Profit $21,628,000 $21,706,000     Operating Expenses         Research and Development $0 $0     Sales, General, and Admin. $13,886,000 $13,599,000     Non-Recurring Items $0 $0     Other Operating Items $0 $0     Operating Income $7,832,000 $8,079,000     Add'l income/expense items -$323,000…

Find the ROE for Potbelly Corporation for the year 2015, use highlighted excel company information for 2014 and 2015 to find average shareholders equity. List steps taken please

Need asap please and thank you.  Cullumber Company provides you with the following balance sheet information as of December 31, 2017. Current assets   $14,720   Current liabilities   $15,360 Long-term assets   32,860   Long-term liabilities   16,860    Total assets   $47,580   Stockholders’ equity   15,360            Total liabilities and stockholders’ equity   $47,580 In addition, Cullumber reported net income for 2017 of $20,480, income tax expense of $3,904, and interest expense of $1,664.     Compute the current ratio and working capital for Cullumber for 2017. (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Current ratio   enter current ratio rounded to 2 decimal places :1 Working capital   $enter a dollar amount

P1-1Preparing an Income Statement, Statement of Stockholders' Equity, and Balance Sheet Assume that you are the president of Highlight Construction Company. At the end of the first year (December 31, 2014) of operations, the following financial data for the company are available:   HIGHLIGHT CONSTRUCTION COMPANY   For the Year Ended December 31, 2014   Total sales revenue                                                                 $______ Total expenses                                                                        Pretax income                                                                          _______   Income tax expense                                                                 _______ Net income                                                                              $                              B. HIGHLIGHT CONSTRUCTION COMPANY Statement of Stockholders’ Equity                                                                  Common Stock      Retained…

Consider Southeast Home Care, a for-profit business. In 2015, its net income was $1,500,000 and it distributed $500,000 to ownderws in the form of dividends. Its beginning-of-year equity balance was $12,000,000. a) Use this information to construct the business's statement of changes in equity. b) What is the ending 2015 value of the business's equity account?