CHART OFACCOUNTSChart of AccountsAccount NameAccount TypeNumber1000 CashAssets1010 Accounts ReceivableAssets1020 inventory1030 Vehicles & Equipment2000 Accounts Payable2010 Payroll Tax Liability2020 Sales Tax Liability3000 Owner's CapitalAssetsAssetsLiabilityLiabilityLiabilityOwner's EquityOwner's EquityOwner's EquityRevenue3010 Owner's Withdrawals3020 Retained Earnings4000 Sales4010 Returns and Allowances4020 Cost of Goods Sold5000 Markoting and Advertising5010 Office Supplies5020 Salaries and Wages5030 Payroll TaxesRevenueRevenueExpensesExpensesExpensesExpenses> Activity1. Prepare chart of accounts using the followingCASHPREPAID RENTEQUIPMENTINVENTORYACCOUNTS RECEIVABLE RURNITURE AND FECTUREWITHDRAWALADVERTISING EXPENSEREVENUENOTES PAYABLEMARKETINGEXPENSEELECTRICITY EXPENSEDELIVERY VEHICLEINTEREST INCOMESALARY AND WAGESCASH IN BANKPAYABLEACCOUNTS PAYABLEINTEREST EXPENSERENT EXPENSECAPITAL

solution chart of accounts we are required to classify the given items as to whether they are…

1. Prepare chart of accounts using the following CASH EQUIPMENT INVENTORY ACCOUNTS RECEIVABLE FURNITURE AND FOCTURE PREPAID RENT ADVERTISING EXPENSE WITHDRAWAL REVENUE NOTES PAYABLE MARKETINGEXPENSE ELECTRICITY EXPENSE DELIVERY VEHICLE INTEREST INCOME SALARY AND WAGES PAYABLE CASH IN BANK ACCUNTS PAYABLE INTEREST EXPENSE RENT EXPENSE CAPITAL

1. Prepare chart of accounts using the following CASH EQUIPMENT INVENTORY ACCOUNTS RECEIVABLE FURNITURE AND FOCTURE PREPAID RENT ADVERTISING EXPENSE WITHDRAWAL REVENUE NOTES PAYABLE MARKETINGEXPENSE ELECTRICITY EXPENSE DELIVERY VEHICLE INTEREST INCOME SALARY AND WAGES PAYABLE CASH IN BANK ACCUNTS PAYABLE INTEREST EXPENSE RENT EXPENSE CAPITAL

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter16: Statement Of Cash Flows: Another Look

Section: Chapter Questions

Problem 18P

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! Required information Problem 12-6A (Algo) Use ratios to analyze risk and profitability (LO12-3, 12-4) [The following information applies to the questions displayed below.] Income statements and balance sheets data for Virtual Gaming Systems are provided below. Net sales Cost of goods sold Gross profit Expenses: VIRTUAL GAMING SYSTEMS Income Statements For the Years Ended December 31 2025 $3,495,000 2,477,000 1,018,000 Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income 952,000 27,000 16,500 7,700 1,003, 200 14,800 2024 $3,021,000 1,947,000 1,074,000 855,000 25,500 7,700 13,500 46,500 948, 200 125,800
Assets Cash S.T. Investments Accts Receivable Inventories Total Current Assets Net PP&E Total Assets Liabilities. Accts Payable Notes Payable Accruals Balance Sheet Current Liabilities L.T. Bonds Preferred Stock Common Stock Retained Earnings Total Equity Total Liab. & Equity Less: Interest 2021 120 30 400 Pre-tax Earnings 1,200 1,750 3,000 4,750 100 100 300 500 520 200 530 3,000 3,530 4,750 Net Sales COGS except Dep Depreciation & Amortization Other Operating Expenses EBIT Income Statements 2021 5,500 3,800 180 600 920 60 860 215 Taxes (25%) Preferred Dividends 15 Net Income for CS Holders 630 2020 $102 40 384 774 1. What is the company's MVA? 2. What is the company's EVA in? 3. What is the current ratio of the Company? 1,300 1,780 3,080 180 28 370 578 350 100 500 1,552 2,052 3,080 Number of Common Stock Outstanding = 1,200 Price of Common Stock = 4.00 WACC Cost of Capital = 12.0% Return on Investment (ROI)= 15.97% 2020 4,800 3,710 180 470 440 40 400 100 7 293
The list of assets, equity and liability to be filled. Assets Amount (RO) Land and Building Plant and Equipment Furniture and Fitting Inventories Accounts and other receivables Cash Bank 43,789 11,571 11,571 Interest Expenses Taxes 35,097 62,796 40,875 160,531 Equity & Liabilities Equity Share Capital Bonds Payable Accounts Payable Outstanding Expenses Short Term Bank Borrowing The list of Income Statement items is given below. Sales Cost of goods sold General and Administrative Expenses Selling and Marketing Expenses Depreciation Expenses Amount (RO) 165,588 87028 18,469 18,861 6,144 Amount (RO) 78,560 5,591 Additional Information: 1. Dividend paid by the company in the year 2022 is RO 30,277 2. The face value of each share is RO 0.196 3. The market price of shares at end 2022 is Ro 318,685,485.58 162,59 5 34,465 10,58 0 183,36 3 54578 You are required to calculate - Earnings per share, Interest cover, Dividend cover, Price/Earnings ratio, Gross Profit Margin Ratio, Operating profit…
Identify the relevant transaction for this entry: Assets Owner’s equity Liabilities +R8000 +R8000 0 Received R8000 cash for debtors R8 000 cash paid for rent Cash sales of inventory R8 000 Received R8 000 cash for rent
Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accounts payable Salaries payable Income tax payable Total current liabilities (a1) a. $8,600 Current ratio 12,900 b. Quick ratio 145,000 5,200 $171,700 $53,300 3,600 1,000 $57,900 2024 $30,100 10,300 :1 105,000 $152,300 :1 6,900 $40,400 5,000 1,000 $46,400 $27,100 7,700 100,000 During 2024, credit sales and cost of goods sold were $138,040 and $82,500, respectively. The 2023 and 2022 credit sales were $151,200 and $151,840, respectively, and the cost of goods sold for the same periods were $79,950 and $82,325, respectively. The accounts receivable and inventory balances at the end of 2021 were $6,900 and $85,000, respectively. 5,600 $140,400 Using the above data, calculate the following ratios: (Round receivables turnover ratio and average collection period to 1 decimal place, e.g. 15.2, days to sell inventory to 0 decimal places, e.g. 152 and all other answers to 2 decimal…
Revenues Expenses Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense Total expenses Net income Assets Current assets Cash Marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Plant and equipment (net) Intangibles Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Other Total current liabilities Bonds payable Total liabilities Year 2 $219,100 Total liabilities and stockholders' equity 124, 400 19,700 10,000 1,700 20, 100 175,900 $ 43,200 $ 38,500 15,800 54,300 64,300 118,600 Stockholders' equity Common stock (43,000 shares) Retained earnings Total stockholders' equity 159,000 $277,600 $ 4,800 $ 7,200 2,800 2,800 36,600 31, 100 101,600 94, 100 3,900 2,900 149,700 138, 100 106,400 106,400 21,500 0 $277,600 $244,500 Year 1 $182,800 114,900 44, 100 101, 100 17,700 9,000 1,700 16,900 146,400 $36,400 $ 34,200 16, 200 50,400 65,300 115,700 114,900…
Cash Accounts Receivable, Net Inventory Property, Plant and Equipment, net Total Assets Accounts Payable Mortgage Payable Common Stock, par $5 Retained Earnings Total Liabilities and Owners' Equity Sales for the year Cost of Goods Sold Net Income for the year 2021 25 65 50 140 280 50 100 90 40 280 4. Calculate the earnings per share. Show work. A. $3.00 B. $4.00 $100 C. $2.00 D. $2.50 50 36 2. Using horizontal analysis, what is the change in inventory? A. 35% increase B. 35% decrease C. 25% increase D. 25% decrease Using the information above, answer the following questions. 1. Using vertical analysis, what percentage is Mortgage Payable for year 2021? Show work. A. 34.23% B. 35.71% C. 40% D. 36.71% 3. Calculate the Accounts Receivable Turnover. Show work A. 1.6 times B. 1.6% C. 1.8 times D. 1.8% 2020 30 60 40 155 285 60 110 90 25 285
Problem 2. Information from Norfolk National Bank's Statement of Income is below. Put items in the proper order, fill in the missing items, and find net noninterest income. Report of Income Items Additional noninterest expense Additional noninterest income Applicable income taxes Extraordinary gains-net Fiduciary activities Income before extraordinary items Smln 20 30 3 2 20 ? Net income ? Net interest income 60 Premises and equipment expense Pretax net operating income 10 15 Provision for loan and lease losses ? Salaries and employee benefits Securities gains (losses) Service charges on deposit accounts Total interest expense ? 5 25 ? Total interest income 200 Total noninterest expense 125 Total noninterest income 100 Trading account gains and fees ?
If a business has the following balances, what would be the amount of total liabilities?ASSETSCash $ 5000Accounts Receivable 2575Equipment 14000OWNER'S EQUITYAnne Miller, Capital 2600
Transaction asset liability capital (f) Bought goods on credit $2200
Smith Enterprises reports the following information: Net income Depreciation expense Increase in accounts payable Increase in accounts receivable $5240000 O $5790640. O $4063360. O $6416640. O $5240000. 712640 151000 313000 Smith should report cash provided by operating activities of
Courses =HCS380 Week 1 Terminology Matching Accounts Receivable Terminology Matching Note Payable Bonds Payable Common Stock Income Statement Balance Sheet Retained Earnings Statement Statement of Cash Flow Basic Accounting Equation multimedia.phoenix.edu Annual Report View Assessment HCS/380: Week 1 - Terminology Matching - Academic Resources Owed to a bank for the money borrowed Bill customer/patient for services HCS Debt securities sold to investors that must be repaid at a particular date in the future A AOL PASSV REQUIRED Enter your password for "kaylakı Accounts. Prepared by corporate management to present financial information, management discussion, notes, and auditor's report Used by creditors to determine if they will be paid Assets Liabilities+Stockholder's Equity Used by creditors and investors to analyze the organization's cash position Used by investors to evaluate the organization's history of paying high dividends The total amount paid in by stockholders for the share…