(2) Compute the company's cash flow on total assets ratio for its fiscal year 2021. Cash Flow on Total Assets Ratio Choose Denominator: Choose Numerator: RICAN Cash Flow on Total Assets Ratio Cash flow on total assets ratio
Q: Cullumber Company manufactures products ranging from simple automated machinery to complex systems…
A: Revenue recognition is the process of entering an entity's revenues into its accounting records. The…
Q: On March 2, Sunland Company sold $995,000 of merchandise on account to Culver Company, terms 3/10,…
A: JOURNAL ENTRIESJournal Entry is the first stage of Accounting Process. Journal Entry is the Process…
Q: TB MC Qu. 20-156 (Static) Zhang Industries budgets production... Zhang Industries budgets production…
A: The budget is prepared to estimate the requirements for the future period. The direct labor budget…
Q: The following materials standards have been established for a particular product: Standard quantity…
A: Variance refers to a change between the expected value and the actual result. This term is usually…
Q: A company has the following expenditures during the year Advertising Employee training Customer…
A: IAS 36, the International Accounting Standard dealing with Impairment of Assets, specifies that…
Q: On September 30, 2024, Truckee Garbage leased equipment from a supplier and agreed to pay $125,000…
A: Present value is the current value of a future sum of money given at a specified rate of…
Q: Beginning inventory, purchases, and sales for an inventory item are as follows: Date Line Item…
A: INVENTORY VALUATIONInventory Valuation is a Method of Calculation of Value of Inventory at the End…
Q: ZZZ INC bought a computer (5-year property) on July 31 with a basis of $5,500 and some machinery…
A: Depreciation is an accounting method which is used to spread the cost of an asset over its useful…
Q: On May 3, Zirbal Corporation purchased 6,000 shares of its own stock for $66,000 cash. On November…
A: Treasury stock refers to shares of a company's own stock that it has repurchased from the open…
Q: The balance sheet for Shaver Corporation reported the following: cash, $5,000; short-term…
A: Debt to assets ratio is calculated by dividing total liabilities by total assets. The times…
Q: a. Plant-wide (single or blanket) overhead rates b. Department cost centre rates (where overhead…
A: a. Plant-wide (single or blanket) overhead rates:To calculate the full cost for each bicycle model…
Q: Direct materials Direct labor Variable manufacturing overhead Quantity Standard Price or or Hours 5…
A: The variance is the difference between thr standard and actual cost data. The variance can be…
Q: Strawberry Fields purchased a tractor at a cost of $38,000 and sold it two years later for S24,500.…
A: Depreciation expense :— It is the allocation of depreciable cost of asset over the estimated useful…
Q: ses borrow money during periods of increased business activity to finance inventory and accounts…
A: The accounting equation states that the assets are equal to the sum of liabilities and equity. The…
Q: Exercise 14A-4 (Algo) Basic Present Value Concepts [LO14-7] Fraser Company will need a new $410,000…
A: Time value of money states that the value of money decreases over time.The present value of a future…
Q: At December 31, 2025, Metlock Corporation owes $539,800 on a note payable due February 15, 2026. (a)…
A: Restructuring a note payable involves modifying the terms of an existing debt agreement between a…
Q: The following materials standards have been established for a particular product: Standard quantity…
A: variance is an difference between the actual and standard cost of production data.The variance can…
Q: Problem 11-22 Return on Investment and Residual Income [LO3, LO4] Financial data for Bridger Inc.…
A: Company's Margin - The company's Profit margin is a profitability ratio or a financial performance…
Q: materials labor le overhead (70% of direct labor) overhead (30% of direct labor) acturing cost per…
A: Incremental analysis uses finanial information to make decisions . It can be applied to sell or…
Q: The following events pertain to Outdoor Entertainment Incorporated which specializes in hosting…
A: Bookkeeping is the process of recording daily transactions in books of accounts. Bookkeeping begins…
Q: Year 5 $264,000 1.1 Year 6 278,400 1.2 Year 7 322,400 1.3 Year 8 320,000 1.2 Required Compute the…
A: The number of goods on hand multiplied by the item's unit price can be used to determine inventory…
Q: Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories.…
A: Product cost is the amount of cost incurred on the making of the goods. It include the cost of…
Q: Inventory data for Concord Company are reported as follows. Date June 1 12 23 30 Explanation Units…
A: The moving cost average method of inventory is similar to the weighted average cost method. The…
Q: A company fails to record accrued wages for the current year. Which of the following statement is…
A: The accrued wages are the wages that are due for payment but not paid yet. The accrued wages are…
Q: May 2021 1 D 2 3 5 7 12 14 17 20 23 25 31 (a) Effect on accounting equation Decrease Increase Assets…
A: According to the question given, we need to prepare the ledger and trail balance.Ledger:Ledger…
Q: te the atio for the most two years using the attached Balance Sheet. What do these ratios you about…
A: Current Ratio - The current ratio of a company determines whether the company has enough liquidity…
Q: The following balance sheets apply to American Airlines at year-end December 31, 2023: Assets 2023…
A: CASH FLOW STATEMENTCash flow statement provides additional information to user of financial…
Q: Prepare the trial balance for the stated date.
A: The Trial Balance is a financial statement which shows the total of debit and credit of all accounts…
Q: The following labor standards have been established for a particular product: Standard labor hours…
A: DIRECT LABOUR COST VARIANCEDirect Labour Cost Variance is the difference between the actual direct…
Q: Royal Mount Games would like to invest in a division to develop software for video games. To…
A: Working capital refers to the funds that a company has available for its daily operations. It…
Q: Izzy Ice Cream has the following price and cost information: $5.00 Price per 2-scoop sundae Variable…
A: Variable costs are costs that vary with the change in the level of output whereas fixed costs are…
Q: Sims Company began operations on January 1 Its cost and sales information for this year follow. $40…
A: Variable costs are costs that vary with the change in the level of output whereas fixed costs are…
Q: The Long Term Care Plus Company has two service departments - actuarial and premium rating, and two…
A: The reciprocal method is an algebraic method that considers the inter-service departments' cost…
Q: George is a farmer, and they grow their own grains to feed to livestock. They have their own factory…
A: Cost of goods sold is the direct costs of making the product. Sales revenue is the revenue generated…
Q: Ames Trading Company has the following products in its ending inventory. Cost per Unit Market per…
A: In accounting the value of ending inventory is generally calculated by taking lower of cost or…
Q: Darby Company, operating at full capacity, sold 103,400 units at a price of $120 per unit during the…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Oriole Company issues $29400000 of 10-year, 10% bonds on March 1, 2024 at 98 plus accrued interest.…
A: Issue Price = (Issue Value * Issue Price)/ 100Issue Price = ($29400000 * 98)/100Issue Price =…
Q: A stock has an expected return of 18 percent and a beta of 1.4. The risk-free rate is 3.5 percent.…
A: Slope of the security market line = (Expected return - Risk free rate) / Beta
Q: Suppose that the current carrying value of Old Navy's $1872000 face value bonds is $1865200. If the…
A: Bonds payable are a form of long-term debt that companies use to raise capital. When a company…
Q: Grand Corporation reported pretax book income of $609,000. Tax depreciation exceeded book…
A: Deferred tax liability represents the taxes that the company owes but are not due because these are…
Q: Required (a) Should Brackley Co. accept the order or not? (b) If Brackley Co. had no spare capacity…
A: (a) To determine whether Brackley Co. should accept the order or not, we will perform a contribution…
Q: 3: (CLO 1 - C2) Elaborate on the role and essential components of an executive summary within…
A: The role and essential components of an executive summary within technical reports are as…
Q: ABC Corporation uses customers served as its measure of activity. During February, the company…
A: The variance is the difference between the standard and actual cost data. The revenue and spending…
Q: The Bradford Company issued 10% bonds, dated January 1, with a face amount of $80 million on January…
A: Issue price of bonds would be the present value of the interest annuity & maturity amount at…
Q: 1 Jasper Company has 61% of its sales on credit and 39% for cash. All credit sales are collected in…
A: Cash receipts refers to cash inflow. All cash sale is to be recorded in the month of sale and all…
Q: Cost of Quality Report A quality control activity analysis indicated the following four activity…
A: Types of Quality Cost1. Appraisal Cost: Appraisal cost is incurred by the Business Entities to…
Q: Crest Products expects the following sales of its single product: Units September October November…
A: A purchase budget outlines the planned expenditures for acquiring goods and services during a…
Q: standard cost per pound. Calculate the material quantity variance and the engineering change order…
A: Calculation of current material standards as follows:-MaterialsJuly month productionCurrent material…
Q: Max began manufacturing operations for Ocean Bath Oils in 20x2. His biggest customer is a national…
A: Sales budget is a budget which is prepared to estimate the revenue generated from sale of goods…
Q: Prepare the trial balance as at 28 February 2020
A: A T-account is an informal term for a set of financial records that uses double-entry bookkeeping.…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
- Category Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year 3,106.00 5,972.00 6,919.00 8,940.00 5,691.00 6,099.00 20,212.00 13,343.00 ??? ??? 2,850 18,751.00 500 2,850 22,826.00 500 965.00 1,016.00 1,259.00 1,123.00 3,086.00 6,750.00 16,982.00 22,296.00 75,731.00 73,844.00 4,053.00 6,596.00 19,950 20,000 35,937.00 34,762.00 46,360 45,530.00 350 920 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.Current Attempt in Progress XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g.…Use the following financial statements and additional information. Assets Cash STREAMLINE INCORPORATED Comparative Balance Sheets June 30, 2021 and 2020 Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable. Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity STREAMLINE INCORPORATED Income Statement For Year Ended June 30, 2021 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses Total operating expenses Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income 2021 $ 100,200 73,000 63,000 4,900 241,100 147,000 (36,000) $ 352,100 $ 26,000 7,000 4,700 37,700 33,000 70,700 240,000 41,400 $ 352,100 $ 66,000 74,000 195,200 136,000 (12,000) $319,200 $ 772,000…
- XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.): Current Ratio ? times…Finding operating and free cash flows Consider the balance sheets and selected data from the income statement of Keith Corporation that follow a. Calculate the firm's net operating profit after taxes (NOPAT) for this year. b. Calculate the firm's operating cash flow (OCF) for the year. c. Calculate the firm's free cash flow (FCF) for the year. d. Interpret, compare and contrast your cash flow estimate in parts (b) and (c). a. The net operating profit after taxes is $ (Round to the nearest dollar.)E9-6 Current Position Analysis Obj. 3 .................. The following data were taken from the comparative balance sheet of Icon Living, Inc., for the years ended December 31, 20Y9 and December 31, 20Y8: Cash Temporary investments Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Accounts payable Accrued liabilities Total current liabilities ▸ Details Dec. 31, 20Y9 $ 75,000 125,000 250,000 425,000 25,000 $ 900,000 $ 350,000 25,000 $ 375,000 Dec. 31, 2018 $ 50,000 75,000 200,000 305,000 20,000 $ 650,000 $ 230,000 20,000 $ 250,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. b. What conclusions can be drawn from these data?
- O Accounts payable Accounts receivable Accruals Category Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Not fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year 3,153.00 5,992.00 6,936.00 9,031.00 5,792.00 6,116.00 20,429.00 13,896.00 ??? Category 222 2,850 22,561.00 500 952.00 4,008.00 46,360 350 What is the firm's cash flow from financing? 1,259.00 1,120.00 3,060.00 6,658.00 16,820.00 22,100.00 75,431.00 74,071.00 6,567.00 19,950 20,000 35,524.00 34,531.00 45,432.00 2,850 Submit 18,594.00 500 1,019.00 920 Answer format: Number: Round to: 0 decimal placesCalculate the following for Co. XYZ: c. Average collection period (365 days) d. Times interest earned Assets: Cash and marketable securities $400,000Accounts receivable 1,415,000Inventories 1,847,500Prepaid expenses 24,000Total current assets $3,686,500Fixed assets 2,800,000Less: accumulated depreciation 1,087,500Net fixed assets $1,712,500Total assets $5,399,000Liabilities: Accounts payable $600,000Notes payable 875,000Accrued taxes Total current liabilities $1,567,000Long-term debt 900,000Owner's equity Total liabilities and owner's equity Co. XYZ Income Statement: Net sales (all credit) $6,375,000Less: Cost of goods sold 4,375,000Selling and administrative expense 1,000,500Depreciation expense 135,000Interest expense Earnings before taxes $765,000Income taxes Net income Common stock dividends $230,000Change in retained earningsRevenue Cost of goods sold Interest expense Income tax expense Net income Current assets (ending balance) Long-term assets (ending balance) Total assets (ending balance) Current liabilities (ending balance) Long-term liabilities (ending balance) Total liabilities (ending balance) Preferred dividends Total stockholders' equity (ending balance) Total outstanding shares Market price of shares Average inventory Average assets (excluding long-term investments) Average total assets Average total stockholders' equity Question 6 2021 2020 2019 2018 2017 10,901,977.24 7,508,199.16 5,727,216.00 3,941,696.00 3,011,800.00 2,061,536.40 1,374,357.60 1,025,640.00 683,760.00 518,000.00 1,052,060.00 891,576.00 768,600.00 610,000.00 500,000.00 1,225,572.00 845,222.00 640,320.00 441,600.00 320,000.00 5,571,720.00 3,714,480.00 2,772,000.00 1,848,000.00 1,400,000.00 11,751,396.40 9,039,535.60 68,480,133.20 5,035,392.00 4,060,800.00 6,091,200.00 17,627,094.60 13,559,303.40 102,720,199.80 7,553,088.00…
- Use the following information to complete the Financial Statements a. Average collection period of 55 days Total equity is $2,250,000 C. Return on Equity of 12% d. Total assets turnover of 1.248 е. Gross profit margin of 40% f. Curren ratio of 3.5 g. Long term liabilities are $1,514,422.5 h. Initial inventory was $1,000,000 and the inventory turnover is 3 times i. The debt ratio (liabilities to assets) is 48% Income Statement Sales Cost of goods sold Gross profit Expenses and taxes Net profit b.Ch: Analyzing Financial Statements The current year financial statement for sand and Juffair companies are presented below. Balance sheet at 31 Dec 2019 Item Cash Account receivable (net) Inventory Property & equipment (net) Other assets Total assets Current liabilities Long-term debt (interest rate: 10%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity Income statement at 31 Dec 2019 item Sales revenue (1/3 on credit) (-) Cost of goods sold (-) Operating expenses Net income Other data item Per share stock price at end of current year Average income tax rate Dividends declared and paid in current year Sand 45000 45000 95000 160000 90000 435000 95000 75000 155000 40000 70000 435000 Sand 440000 230000 159000 51000 Sand 23 30% 34000 Juffair 22000 35000 45000 415000 320000 837000 65000 65000 522000 110000 75000 837000 Juffair 800000 399000 315000 86000 Juffair 25 30% 153000 Both companies are in the fish catching and…Prepare the income statements and balance sheets for years 2018 and 2019 for Thompson Company using the following information. The balance sheet numbers are at the end of year figures.Item20182019Accounts Payable120.0150.0Accounts Receivable150.0180.0Accumulated Depreciation330.0360.0Cash & Cash Equivalents10.012.0Common Stock150.0200.0Cost of Goods Sold750.0850.0Depreciation25.030.0Interest Expense30.033.0Inventory200.0180.0Long-term Debt150.0150.0Gross Plant & Equipment650.0780.0Retained Earnings208.5225.0Sales1,500.01,700.0SG&A Expenses500.0570.0Notes Payable51.567.0Tax Rate21%21%(2) Answer the following questions:(a) How much did Thompson Company spend in acquiring fixed assets in 2019?(b) How much dividend did Thompson Company pay out during 2019?(c) Using the end of year numbers, did the long-term solvency ratios improve or deteriorate from 2018 to 2019? Answer this question using at least two long-term solvency ratios.(d) Using the end of year numbers, did the asset…