FINANCIAL ACCOUNTING: TOOLS FOR BUSINES
9th Edition
ISBN: 9781119595649
Author: Kimmel
Publisher: WILEY
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The following items is taken from December 31, 2020, assets section of the Boeing
Company balance sheet (All dollars are in millions).
Inventory $9,563
Notes receivable – due after Dec 31, 2021, $6,777
Notes receivable – due before Dec 31 2021 $ 328
Accumulated Depreciation – buildings
Patents $ 11,915
$ 16,664
Buildings $ 20,180
Cash
Accounts receivables
Debt investment $ 7,042
$ 5,740
$ $2,266
Instructions
Prepare the assets section of a classified balance sheet, listing the current assts in order of
their liquidity.
Some selected financial statement items belonging to PXR Company are given in the table below. According to this information, which of the following is Return on Assets (ROA) in 2021?
Receivables
18,500
Total Assets
120,000
Current Liabilities
42,000
total liabilities
75,000
Profit after Tax
15,000
Select one:
a. The correct answer not available
b. 0.205
c. 0.137
d. 0.150
e. 0.125
he current sections of Skysong, Inc.’s balance sheets at December 31, 2021 and 2022, are presented here.Skysong’s net income for 2022 was $152,700. Depreciation expense was $27,600.
2022
2021
Current assets
Cash
$107,600
$95,900
Accounts receivable
78,400
89,400
Inventory
167,800
172,100
Prepaid expenses
26,800
22,000
Total current assets
$380,600
$379,400
Current liabilities
Accrued expenses payable
$15,800
$8,600
Accounts payable
84,900
95,500
Total current liabilities
$100,700
$104,100
Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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