Exercise 2-28 (Algo) Analyzing changes in a company's equity LO P1Compute the missing amount for each of the following separate companies.Note: Losses and amounts to be deducted should be indicated with a minus sign.CBSABCCNNNBCEquity, beginning of year$0 $0 $0 $Owner investments during the year108,50097,428Owner withdrawals during the year(55,000)(9,000)219,119(54,000)Net income (loss) for the year104,500Equity, end of year$110,500 $52,185107,185 $(5,000)83,428 $119,119

The above answer can be explained as under - The Equation for equity is explained as under - Ending…

Answered: Exercise 2-28 (Algo) Analyzing changes…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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04 The following balance sheet information is provided for Santana Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity What is the company's debt to equity ratio? here to search R 558 LLI O B 100 H N < Prev U J Saved M 40 of 44 1 hp K HO $4,200 10,350 14,100 900 18,800 12,700 $61,050 $2,370 8,930 8,500 20,000 21,250 $61,050 Next a f brt sc Help
The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $47,481 $39,900 Long-term debt 44,650 47,000 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Enter all answers as positive numbers. Amount of Change Increase/Decrease Percentage Accounts payable $fill in the blank 1 IncreaseDecrease fill in the blank 3 % Long-term debt $fill in the blank 4 IncreaseDecrease fill in the blank 6 %
gEnabled: Midterm exami 7:55 Microsoft's current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a rccent financial statement: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratic $ 190,000 $ 780,000 Shareholders' equity 2.65 1.70 1.60 Required: Compute the shareholders' equity for Microsoft: Saved
EX.17-179.ALGO The following information was from Slater Company's balance sheet: Fixed assets (net) Long-term liabilities Total liabilities Total stockholders' equity $2,049,082 504,700 686,080 2,144,000 Round your answers to two decimal places. a. Determine the company's ratio of fixed assets to long-term liabilities. b. Determine the company's ratio of liabilities to stockholders' equity.
Category Prior Year Current Year Accounts payable ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,516.41 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,946.66 Interest expense 40,500 41,874.31 Inventories 279,000 288,000 Long-term debt 336,467.85 401,942.46 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,499.58 Retained earnings 306,000 342,000 Sales 639,000 854,554.01 Taxes 24,750 48,384.56 ??? What is the current year's return on equity (ROE)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign re rounded to 4 decimal places (ex: 0.0924))
4:42 IR1_MIDTERM_20201.pdf 33. Lucerne Cómpany reported the following changes during the current year Increase Increase (Decrease) P 400,000 300,000 50,000 (150,000) (50,000) 1,000,000 100,000 (Decrease) 80,000 (100,000) (10,000) 120,000 60,000 30,000 Accounts payable Bonds payable Discount on bonds payable Cash Accounts receivable Allowance for bad debts Common stock Inventory Prepaid rent Plant and equipment Accumulated depreciation There were no other entries in the Retained earnings account except for the dividend declaration of P50,000, which was paid in the current year Net income for the year Premium on common stock Treasury stock at costs 5/12 a. P1,200,000 b. P1,260,000 c. P1,280,000 d. P1,360,000 II
CASE 1 The following are the changes in all the account balances of Kenji Company during the year ended December 31, 20x1, except for retained earnings. Increase (Decrease) P592,500 1,422,000 (750,000) (352,500) (382,500) 615,000 450,000 30,000 Cash Account receivable, net Inventory Investments Accounts payable Bonds payable Ordinary share capital Share premium There were no entries in the retained earnings account except for net income and a dividend declaration of P590,000, which was paid in the current year. REQUIRED: 1. Net increase (decrease) in net assets 2. Net income for the current year
Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $45,650 $55,000 Long-term debt 94,336 73,700 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Enter all answers as positive numbers. Amount of Change Increase/Decrease Percentage Accounts payable $fill in the blank 1 Decrease fill in the blank 3 % Long-term debt $fill in the blank 4
Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 428,571.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,035.00 Interest expense 40,500 42,155.00 Inventories 279,000 288,000 Long-term debt 339,577.00 401,377.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,171.00 Retained earnings 306,000 342,000 Sales 639,000 849,094.00 Taxes 24,750 47,192.00 What is the current year's entry for long-term debt on a common-sized balance sheet? (ROUND TO 4 DECIMAL PLACES.)
Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $45,650 $55,000 Long-term debt 94,336 73,700 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Enter all answers as positive numbers. Amount of Change Increase/Decrease Percentage Accounts payable $fill in the blank 1 Decrease fill in the blank 3 % Long-term debt $fill in the blank 4 Increase fill in the blank 6 %
Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $93,060 $70,500 Long-term debt 35,616 37,100 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Enter all answers as positive numbers. Amount of Change Increase/Decrease Percentage Accounts payable $fill in the blank 1 fill in the blank 3 % Long-term debt $fill in the blank 4 fill in the blank 6 %
wo years. EXERCISE 15-2 Financial Ratios for Assessing Liquidity LO15-2 ending December 31 appear below. The company did not issue any new common stock during the payable was 12%, the income tax rate was 40%, and the dividend per share of common stock was this year was $18. All of the company’s sales are on account. year Deceof 800,000 shares of common stock were outstanding, The interest rate on the bond year. $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash .... $ 1,280 $ 1,560 Accounts receivable, net 12,300 9,100 Inventory .... 9,700 8,200 Prepaid expenses 1,800 2,100 Total current assets 25,080 20,960 Property and equipment: Land ..... 6,000 6,000 Buildings and equipment, net .. 19,200 19,000 epeA Total property and equipment ... 25,200 25,000 Total assets $50,280 $45,960 Liabilities and Stockholders' Equity Current…

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