At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets net Current Year 1 Year Ago 2 Years Ago $ 28,952 85,608 105,504 9,512 266.097 $ 33,842 61,019 78,261 9,153 245 029 $ 35,979 49,426 52,128 4,038 225 529

is:       Dec. 31, 20Y9        Dec. 31, 20Y8 Assets           Cash $70,720     $47,940   Accounts receivable (net) 207,230     188,190   Inventories 298,520     289,850   Investments 0     102,000   Land 295,800     0   Equipment 438,600     358,020   Accumulated depreciation—equipment (99,110)     (84,320)   Total assets $1,211,760     $901,680   Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $205,700     $194,140   Accrued expenses payable (operating expenses) 30,600     26,860   Dividends payable 25,500     20,400   Common stock, $1 par 202,000     102,000   Paid-in capital: Excess of issue price over par—common stock 354,000     204,000   Retained earnings 393,960     354,280   Total liabilities and stockholders' equity $1,211,760     $901,680   The income statement for the year ended December 31, 20Y9, is as follows: Sales   $2,023,898 Cost of goods sold   1,245,476 Gross profit   $778,422 Operating…

Instructions This assignment is designed for practicing both the retailer/merchandiser accounting cycle and your basic excel skills. Below are select sales transactions for two companies. You will need to enter the missing pieces of each transaction on the journal entry tab. Each missing piece of information is highlighted in yellow. The only cell where an actual number is to be input is on the journal entries worksheet. Please note: not every yellow cell requires input (it could be left blank if appropriate). After completing the journal entries, you must then complete the missing pieces of the T accounts, trial balance, and statements highlighted in yellow. Only excel functions may be used to calculate the appropriate cell value on these pages. DO NOT INPUT THE ACTUAL NUMBER INTO THE T ACCOUNTS, TRIAL BALANCE, OR STATEMENTS. Use excel functions (such as making a cell equal another from the journal entry page, summing numbers together, or using the plus or minus symbols to help you…

Cash Accounts receivable Equipment, net Land Total assets Current Year $7,440 $4,000 44,000 91,680 $197.120 Percent change Prior Year Required: Compute the annual dollar changes and percent changes for each of the following items $8,000 18,000 40,000 66,000 $132.000 (Use cells A2 to C7 from the given information to complete this question. Decreases should be entered with a minus sign. Round your percentage answers to one decimal place.) Cash Accounts receivable Equipment, net Horizontal Analysis Calculation of Percent Change Numerator: Current Year $7,440 54,000 44,000 Prior Year $8,000 18,000 40,000 Denominator: Dollar Change Change

Cash Flows from (Used for) Operating Activities The net income reported on the income statement for the current year was $137,500. Depreciation recorded on store equipment for the year amounted to $22,700. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:   Endof Year Beginningof Year Cash $53,350   $48,550   Accounts receivable (net) 38,250   35,880   Merchandise inventory 52,230   54,620   Prepaid expenses 5,870   4,610   Accounts payable (merchandise creditors) 49,990   45,930   Wages payable 27,320   30,000   a.  Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

Simons Industries reported net income of $69,000 for the current year. The balances and activity in its accounts receivable accounts follow. In addition, the company recorded $3,400 of bad debt expense and wrote off $2,500 of uncollectible accounts. E (Click the icon to view the balances and activity in accounts receivable accounts.) Prepare the operating section of the cash flow statement under the indirect method. (Use a minus sign or parentheses for any amounts to be subtracted. If an input field is not used in the statement, leave the field empty; do not select a label or enter a zero.) Simons Industries Partial Statement of Cash Flows (Indirect Method) Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Net Cash Provided (Used) by Operating Activities

Cash Flows from (Used for) Operating Activities The net income reported on the income statement for the current year was $154,700. Depreciation recorded on store equipment for the year amounted to $25,500. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:   Endof Year Beginningof Year Cash $61,730 $56,790 Accounts receivable (net) 44,260 41,970 Merchandise inventory 60,430 63,890 Prepaid expenses 6,790 5,400 Accounts payable (merchandise creditors) 57,840 53,720 Wages payable 31,610 35,100 a.  Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from operating activities: - Net income  $ Adjustments to reconcile net income to net cash flows from (used for) operating…

Estimating Uncollectible Accounts and Reporting Accounts Receivable LaFond Company analyzes its accounts receivable at December 31, and arrives at the age categories below along with the percentages that are estimated as uncollectible. Accounts Estimated Receivable Loss % $ 90,000 20,000 11,000 6,000 Over 180 days past due 4,000 Total accounts receivable $ 131,000 Age Group 0-30 days past due 31-60 days past due 61-120 days past due 121-180 296 4 The balance of the allowance for uncollectible accounts is $520 on December 31, before any adjustments. Transaction Record bad debts expense 5 10 25 (a) What amount of bad debts expense will LaFond report in its income statement for the year? $0 Cash Asset (b) Use the financial statement effects template to record LaFond's bad debts expense for the year. Use negative signs with your answers, when appropriate. Noncash Assets Balance Sheet Liabilities Contributed Capital (c) What is the balance of accounts receivable on it December 31 balance…

Cash and accounts receivable for Adams Company are as follows:   Current Year   Prior Year Cash $64,800   $54,000 Accounts receivable (net) 58,982   76,600 What are the amounts and percentages of increase or decrease that would be shown with horizontal analysis? Account Dollar Change   Percent Change     Cash $fill in the blank 1 fill in the blank 2 %   Accounts Receivable $fill in the blank 4 fill in the blank 5 %

Year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Inventory Prepaid rent Current Year 1 Year Ago 2 Years Ago $ 26,725 77,457 $ 31,858 95,459 8,436 240,403 30,967 41,290 43,529 52,503 73,671 8,200 220,389 3,372 193,642 $ 312,800 $ 42,115 69,129 162,500 Machinery, net Total assets $ 448,480 $ 386,621 Liabilities and Equity Accounts payable $ 110,555 Long-term notes payable 83,471 $ 65,992 88,034 Common stock 162,500 Retained earnings 91,954 162,500 70,095 39,056 Total liabilities and equity $ 448,480 $ 386,621 $ 312,800 Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute times interest earned for the current year and one year ago. Current Year 1 Year Ago Times Interest Earned Choose Numerator: / Choose Denominator: I II 11 Times interest earned times times