What is the total amount of liabilities? Cash 12,000 Supplies 4,500 Prepared rent 2,000 Salaries expense 4,500 Equipment 65,000 Service revenue 30,000 Miscellaneous Expense 20,000 Dividends 3,000 Accounts payable 5,000 Common stock 68,000 Retained earnings 8,000 A. 5,000 B. 78,500 C. 68,500 D. 83,500
Q: Below are account balances of Ducks Company at the end of September.Required: Prepare a trial…
A: Determine total debit balance and credit balance, excluding service revenue. Account title Debit…
Q: Given the following list of accounts, calculate Total Assets: Accounts Receivable $ 10,000 Capital…
A: Total assets are equal to the sum of current assets and non-current assets. The term total assets…
Q: What is the total amount of credits? Cash : 12,000 Retained earnings : 31,000 Prepaid Rent : 2,000…
A: In accounting, there are two sides of each account. One is debit and other is credit. All assets and…
Q: What is the amount of current assets, assuming the accounts Accounts Payable $12,000 Buildings…
A: Introduction: Current Assets: The Assets which can be easily converted in to cash with in a year…
Q: A business has Cash of P 3,000, Notes Payable of P 2,500, Accounts Payable of P 4,300, Service…
A: Total liabilities = Notes payable + Accounts payable
Q: A company's trial balance included the following account balances: Accounts Payable $ 19,347…
A: Total liabilities = Accounts payable + Income tax payable + Notes payable + Wages payable
Q: What is the amount of change in retained earnings for the year?
A: Retained earnings: Retained earnings are the portion of earnings kept by the business for the…
Q: Assets Liabilities and Equity Cash Accounts receivables 34,000 Inventory Prepaid Insurance Capital…
A: Assets=Liabilities+Shareholders' Equity
Q: P 52,500 14,500 12,500 ? Machinery Accrued expenses Unearned income Cash P 55,000 7,000 5,000 21,000…
A: Solution: Total Assets = Note receivables + Office equipment + Accrued income + Machinery + Cash =…
Q: Adjusted Trial Balance Debit Credit Cash $25,000 Accounts Receivable 13,900 Prepaid Insurance 5,200…
A: Post-closing trial balances are prepared after all the closing entries, in which all the temporary…
Q: A company's balance sheet shows cash 34,000 account recievable 22,000 office equipment 56,000 and…
A: Accounting equation says that assets should always be equals to total of liabilities and stockholder…
Q: Debit Balances Credit Balances Cash. .......... 42,900 ...... Accounts Receivable.. Prepaid…
A: Introduction: Trial balance: All final ledger accounts balances are posted in Trial balance to check…
Q: Classifying transactions on the statement of cash flows—indirect method Consider the following…
A:
Q: Accounts payable $43,000 Inventory $117,000 Accounts receivable 40,000 Land 45,000 Building 67,000…
A: A balance sheet is also known as a statement of financial position considered as one of the most…
Q: Total liabilities and Owners equity Section Required cash $11,300 accounts receivable 1,000 office…
A: Introduction: Balance sheet: All assets and liabilities are shown in Balance sheet. It tells the net…
Q: Credit Debit 2$ 2$ 80,800 469,600 252,000 27,000 16,000 12,000 190,000 650,000 550,000 Cash Accounts…
A: Income statement means the statement which show the cost of goods sold and selling price and give…
Q: Debit Balances Credit Balances 42,900 Cash Accounts Receivable. .... 123,500 .... Prepaid Insurance.…
A: Trial Balance is the statement not an account neither a part of financial statement but serves as a…
Q: Service Revenue $10,000 Cash $12,000. Accounts Receivable $3,000 Office Supplies Rent Expense…
A: Introduction: Balance sheet: All Assets and liabilities are shown in balance sheet. It tells the net…
Q: PREPARE AN INCOME STATEMENT AND A BALANCESHEET: Accounts Payable 850,420.00 Accounts Receivable…
A: Net sale=Sale-Discount-ReturnsNet purchase=Purchase-Discount-Returns
Q: Use the information in the ledger accounts. Building 70,320 Land Cash Nov. 8 40,320 14,400 1,680…
A: Assets normally have debit balance. Liabilities and stockholders' equity normally have credit…
Q: Accounts payable Notes receivable Office Equipment Access, capital Accrued income P 52,500 14,500…
A: Solution: Total Assets = Note Receivables + Office Equipment + Accrued Income + Machinery + Cash
Q: 1) The following information is available from Ram Corp.'s accounting records for the year ended…
A: This question deals with the concept of cashflow from operating activity. Cashflow from operating…
Q: The assets and liabilities of Smith Company are as follows: Cash $28,650; Supplies, $840; Equipment,…
A: The accounting equation states that assets equals to sum of liabilities and shareholders equity.…
Q: Adjusted Trial Balance Debit Credit Cash $ 32,000 Accounts receivable 17,300 Prepaid insurance 6,400…
A: The net income is the net profit of the company earned during the period. The net income includes…
Q: Preparing financial statements Presented here are the accounts of Pembroke Bookkeeping Company for…
A:
Q: information to answer question 5. Cash R10 000…
A: The acid test ratio is also known by the name of quick ratio. It helps to measure the companies…
Q: Assets Cash Accounts receivables 34,000 Liabilities and Equity Accounts Payable Wages Payable Income…
A: Calculation of ending balance of Cash Amount Beginning Balance of Cash $ 10,000…
Q: The following is selected financial data from Block Industries: Cash $20,000 Accounts receivable…
A: Introduction: Current liability: Current liabilities also called as short term liabilities. Which…
Q: Prepare the Balance sheet $ 11,000 Accounts payable Accounts receivable 15,000 Buildings Cash 11,000…
A: Balance sheet consists of Assets, liabilities and equity
Q: Cash $ 25,310 C. Camry, Withdrawals 22,320 Consulting fees earned 5,200 Rent expense 43,970 Salaries…
A: Please go through the step 2.
Q: Cash P 84,000 Accounts Receivable 48,000 Accrued Service Income 13,000 Prepaid Expenses 18,000…
A: Current assets: Assets that are expected to be sold or used within one year are classified as…
Q: Assets Cash Accounts receivables 34,000 Inventory Prepaid Insurance Capital Assets Accumulated…
A: The statement of cash flows records all the sources and uses of cash in the business during a…
Q: Account Cash 47,400 Supplies 300 Prepaid Rent 22,917 7,350 17,500 Accounts Receivable Equipment…
A: The closing entries are prepared to close the accounts which can not be transferred to balance…
Q: The accounts in the ledger of Hickory Furniture Company as of December 31, 2019, are listed in…
A: The transactions of the company will be analyzed by the management, and it will be recorded in…
Q: Q.From the following details prepare the balance sheet of M/s Kalamindir as on 31.03.14 Particular…
A: The balance sheet is one of the general-purpose financial statement which is prepared by an…
Q: Accounts Debit Credit Cash $ 12,000 Accounts Receivable 150,000 Prepaid Rent Supplies Equipment…
A: Formula: Net income = Revenues - Expenses
Q: Record each of these transactions Jan.18 Cash…………………………………. 40,000 Capital…
A: Given are the ledger accounts for given transactions:
Q: Prepare an Income Statement and Balance Sheet Question 1 RM RM Account Payable 9,000 General…
A: The financial statements of the business include the income statement and balance sheet of the firm.…
Q: Cash Accounts Receivable.. Prepaid Insurance. Equipment.... Accounts Payable Salaries Payable.…
A: Introduction: Trial balance: All the final ledger accounts balance are posted in Trial balance to…
Q: Adjusted Trial Balance Debit Credit $ 32,000 17,300 Cash Accounts receivable Prepaid insurance 6,400…
A: Information regarding revenues, expenses, assets, liabilities, dividend, and equity are provided by…
Q: Analyzing transactions from T-accounts The first nine transactions of North-West Airplane Repair…
A: Transaction: The economic event which brings about any changes in the financial items of a…
Q: 3. The following data were taken from the statement of affairs of Malakas Company: Book Value Fair…
A: Calculation of available cash for liabilities Particulars Computation Amount (in P) Cash 6000…
Q: Assets Cash . $40,000 $12,000 ... Accounts receivable.. 5,000 8,000 nventory... 11,000 7,000 Prepaid…
A: The cash flow statement is prepared to record cash flow from various activities during the period.
Q: What is the amount of current assets, assuming the acce Accounts Payable $12,000 Buildings 70.000…
A: Current assets are those assets which are readily converted into cash within a short period of 1…
Q: The following account values are from Baker Company's balance sheet: Cash $10,000 Accounts…
A: Quick ratio is the ratio between liquid assets and current liabilities of business. Quick Ratio =…
Q: The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and…
A: Accounting equations show the equal effects on asset side and liability & equity side. Every…
Q: Preparing a trial balance The accounts of Anderson Moving Company follow with their normal balances…
A: Trial Balance of Anderson as on August31,2018 Particulars Debit ($) Credit ($) Common Stock…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- The following are the Financial Statements of Louise Company: Loulse Company Statement of Financial Position As of December 31, 2015, and 2016 2015 2016 ASSETS Current Assets Cash Accounts Receivables, net Merchandise Inventory Marketable Securities 198,000 30,000 15,000 20,000 10,000 273,000 270,000 40,000 10,000 20,000 8.000 348,000 Prepaid Expenses Total Current Assets Non-Current Assets Land Building, net Machinery, net Fumiture and Fixtures, net Long-term Investments Total Non-Current Assets 500,000 390,000 100,000 50,000 100,000 L140.000 500,000 380,000 90,000 45,000 80,000 1,095,000 TOTAL ASSETS 1413.000 1.443.000Use the following table: Case X Case Y Case Z Cash $ 940 $ 1,470 $ 1,940 Short-term investments 0 0 780 Receivables 0 1,690 1,360 Inventory 3,400 1,560 6,520 Prepaid expenses 2,600 1,020 1,460 Total current assets $ 6,940 $ 5,740 $ 12,060 Current liabilities $ 3,600 $ 1,800 $ 5,750 Required:Calculate the quick ratio in each of the above cases and select the case which is in the best position to meet short-term obligations most easily. (Round your answers to 2 decimal places.)19. Ebasan Company have the following account balances: Cash (net of overdraft of P100,000) Accounts receivable Accounts payable Notes payable Loans payable Income tax payable Warranty obligations Deferred revenue Cumulative, redeemable preference shares at the option of the holder Non-cumulative, non-redeemable preference shares What is the total amount considered as financial liabilities? A. 4,620,000 B. 3,620,000 C. 4,600,000 D. 4,500,000 P300,0000 450,000 1,200,000 500,000 1,800,000 120,000 180,000 240,000 1,000,000 2,000,000
- Compared to the ROE in 2020, the ROE in 2021 has Improved / 6.65% Improved / 3.43% Worsened / -6.65% Worsened / -3.43% Stayed the same / 0% by# 3 Category. Prior Year Current Year Accounts payable 3,136.00 5,904.00 Accounts receivable 6,838.00 9,068.00 Accruals 5,663.00 6,026.00 Additional paid in capital 20,182.00 13,570.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,844.00 18,591.00 Current portion long-term debt 500 500 Depreciation expense 955.00 1,036.00 Interest expense 1,275.00 1,169.00 Inventories 3,020.00 6,732.00 Long-term debt 16,947.00 22,144.00 Net fixed assets 75,056.00 74,173.00 Notes payable 4,022.00 6,569.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,957.00 34,753.00 Sales 46,360 45,431.00 Таxes 350 920 What is the firm's total change in cash from the prior year to the current year? Submit Answer format: Number: Round to: 0 decimal places.#1 O Category. Prior Year Current Year Accounts payable 3,134.00 5,904.00 Accounts receivable 6,978.00 8,907.00 Accruals 5,624.00 6,194.00 Additional paid in capital 20,362.00 13,212.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,484.00 18,100.00 Current portion long-term debt 500 500 Depreciation expense 1,003.00 1,011.00 Interest expense 1,257.00 1,156.00 Inventories 3,097.00 6,657.00 Long-term debt 16,532.00 22,027.00 Net fixed assets 75,252.00 74,022.00 Notes payable 4,045.00 6,536.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,789.00 34,684.00 Sales 46,360 45,408.00 Тахes 350 920 What is the firm's cash flow from financing? Submit Answer format: Number: Round to: 0 decimal places.
- 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))BALANCE SHEETCash $ 140.0 Accounts payable $ 800 .0Accts. receivable 880 .0 Notes payable 600.0Inventories 1,320.0 Accruals 400 .0Total current assets $2,340.0 Total current liabilities $1,800.0Long-term bonds 1,000.0Total debt $2,800.0Common stock 200 .0Retained earnings 1,000.0Net plant & equip. 1,660.0 Total common equity $1,200.0Total assets $4.000.0 Total liabilities & equity $4.000.0lNCOME STATEMENTNet sales $6,000.0Operating costs 5,599.8Depreciation 100.2EBIT $ 300.0Less: Interest 96 .0EBT $ 204 .0Less: Taxes 81.6Net income $ 122.4OTHER DATAAnnual Principal and Lease Payments 0.00Shares outstanding (millions) 60 .00Common dividends (millions) $42.8Interest rate on NIP and long-term bonds 6.0 %Federal plus state income tax rate 40%Year-end stock price $30 .60 What is the firms ROE (Return on Equity)?Group of answer choices 9.45% 9.63% 9.84% 10.20%BALANCE SHEETCash $ 140.0 Accounts payable $ 800 .0Accts. receivable 880 .0 Notes payable 600.0Inventories 1,320.0 Accruals 400 .0Total current assets $2,340.0 Total current liabilities $1,800.0Long-term bonds 1,000.0Total debt $2,800.0Common stock 200 .0Retained earnings 1,000.0Net plant & equip. 1,660.0 Total common equity $1,200.0Total assets $4.000.0 Total liabilities & equity $4.000.0lNCOME STATEMENTNet sales $6,000.0Operating costs 5,599.8Depreciation 100.2EBIT $ 300.0Less: Interest 96 .0EBT $ 204 .0Less: Taxes 81.6Net income $ 122.4OTHER DATAAnnual Principal and Lease Payments 0.00Shares outstanding (millions) 60 .00Common dividends (millions) $42.8Interest rate on NIP and long-term bonds 6.0 %Federal plus state income tax rate 40%Year-end stock price $30 .60 Question 9 What is the firm's Debt Ratio? Group of answer choices 60.0% 65.0% 70.0% 75.0% Question 10 What is the firm's Inventory Turnover? 4.41 4.55 4.69 4.83 Question 11 What is the firm's DPS…
- BALANCE SHEETCash $ 140.0 Accounts payable $ 800 .0Accts. receivable 880 .0 Notes payable 600.0Inventories 1,320.0 Accruals 400 .0Total current assets $2,340.0 Total current liabilities $1,800.0Long-term bonds 1,000.0Total debt $2,800.0Common stock 200 .0Retained earnings 1,000.0Net plant & equip. 1,660.0 Total common equity $1,200.0Total assets $4.000.0 Total liabilities & equity $4.000.0lNCOME STATEMENTNet sales $6,000.0Operating costs 5,599.8Depreciation 100.2EBIT $ 300.0Less: Interest 96 .0EBT $ 204 .0Less: Taxes 81.6Net income $ 122.4OTHER DATAAnnual Principal and Lease Payments 0.00Shares outstanding (millions) 60 .00Common dividends (millions) $42.8Interest rate on NIP and long-term bonds 6.0 %Federal plus state income tax rate 40%Year-end stock price $30 .60 Question 5 What is the firm's EBITDA coverage? Group of answer choices 3.51 3.69 3.88 4.17 Question 6 What is the firms DSO (Days Sales Outstanding)? Group of answer choices 51.30 days 52.80 days 53.50…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 328,500 429,735.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,152.00 Interest expense 40,500 42,662.00 Inventories 279,000 288,000 Long-term debt 339,349.00 400,985.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,641.00 Retained earnings 306,000 342,000 Sales 639,000 848,846.00 Тахes 24,750 47,931.00Consider the Föllowing balance sheet Expected Balance Sheet for XYZ Bank Assets Yield Liabilities Cost Rate sensitive $ 1900 7% %$4 1300 9% Fixed rate $ 500 9% %$4 1900 6% Non earning $ 2700 %$4 800 Equity 1100 Total $ 5100 $ 5100 What is the Net Interest Income (NII)