B. Here are the accounts of Aurulent Citrine Pawnshop. Prepare a statement of changes in equity for May 31, 2020. Dizon, Capital, 5/1/20 3,890,000 Additional Investments 5,432,000 Net Income 2,004,000 Withdrawals 500,000
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- 5.. Your answer is partially correct. Windsor Inc., a greeting card company, had the following statements prepared as of December 31, 2020. WINDSOR INC.COMPARATIVE BALANCE SHEETAS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $6,100 $7,100 Accounts receivable 62,400 51,000 Short-term debt investments (available-for-sale) 34,700 18,100 Inventory 40,400 60,300 Prepaid rent 4,900 4,000 Equipment 154,100 130,600 Accumulated depreciation—equipment (34,900 ) (24,800 ) Copyrights 46,400 49,800 Total assets $314,100 $296,100 Accounts payable $46,500 $40,200 Income taxes payable 4,000 6,000 Salaries and wages payable 8,100 4,100 Short-term loans payable 7,900 10,100 Long-term loans payable 59,600 68,400 Common stock, $10…25. Coronado Inc., a greeting card company, had the following statements prepared as of December 31, 2020. CORONADO INC.COMPARATIVE BALANCE SHEETAS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $5,900 $7,000 Accounts receivable 61,400 51,500 Short-term debt investments (available-for-sale) 35,000 18,200 Inventory 40,000 60,500 Prepaid rent 5,000 4,100 Equipment 152,900 131,100 Accumulated depreciation—equipment (35,200 ) (25,100 ) Copyrights 45,800 50,000 Total assets $310,800 $297,300 Accounts payable $46,100 $40,100 Income taxes payable 3,900 5,900 Salaries and wages payable 8,000 4,000 Short-term loans payable 8,100 10,000 Long-term loans payable 60,400 69,300 Common stock, $10 par 100,000 100,000…The following information relates to Basic Lid. for the year ended 31" December 2021: Net working capital RO. 1.200.000 Fixed assets to proprietor's fund ratio 0.75 Working capital turnover ratio 5 timeg Return on Equity 15% Current liabilities RO. 400.000 Long term Debts 0 You are required to calculate: Proprietor's funds Fixed Assets Current assets Net profit ratio Current ratio
- Below is the Statement of Financial Position for Rafah Islamic Bank: RAFAH ISLAMIC BANK STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 DECEMBER 2020 Assets RM Non current Asset 5,670,000 Long Term Investment 654,000,000 Financing (Net) 1,244,000,000 Corporate Bond Investment 919,094,000 Commercial Securities Investment 389,543,000 Deposits in other financial institutions 487,043,700 Other current assets…The comparative balance sheets for Metlock Corporation show the following information. December 312020 2019Cash $33,500 $12,900Accounts receivable 12,400 10,000Inventory 12,100 9,000Available-for-sale debt investments –0– 3,000Buildings –0– 29,800Equipment 44,800 19,900Patents 5,000 6,300 $107,800 $90,900Allowance for doubtful accounts $3,100 $4,500Accumulated depreciation—equipment 2,000 4,500Accumulated depreciation—building –0– 6,000Accounts payable 5,000 3,000Dividends payable –0– 4,900Notes payable, short-term (nontrade) 3,000 4,100Long-term notes payable 31,000 25,000Common stock 43,000 33,000Retained earnings 20,700 5,900 $107,800 $90,900 Additional data related to 2020 are as follows. 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500.2. $10,000 of the long-term note payable was paid by issuing common stock.3. Cash dividends paid were $4,900.4. On January…FILLING IN THE RATIOS .. THE LEFT SIDE IS 2019 THE RIGHT SIDE IS 2020 IN THE IMAGE. Jergan CorporationBalance SheetsDecember 31 2020 2019 2018 Cash $ 30,800 $ 17,600 $ 18,700 Accounts receivable (net) 50,500 44,200 47,100 Other current assets 89,600 94,900 63,900 Investments 55,300 71,000 45,100 Plant and equipment (net) 500,500 370,000 358,500 $726,700 $597,700 $533,300 Current liabilities $85,500 $79,800 $69,400 Long-term debt 144,300 84,100 50,300 Common stock, $10 par 348,000 316,000 304,000 Retained earnings 148,900 117,800 109,600 $726,700 $597,700 $533,300 Jergan CorporationIncome StatementFor the Years Ended December 31 2020 2019 Sales revenue $738,000 $605,500 Less: Sales returns and allowances 39,100 29,900 Net sales 698,900…
- The following is the Balance sheet of Moin lilited as on 31st march 2020. You are required to comment on the Liquidity of the Company Liabilities Amount 5,00,000 Equity Share Capital 8% preference Share Capital 10%long term loans 14%debentures Sundry creditors Bills payable Provision for taxation Proposed preference dividend Bank overdraft 3,00,000 3,25,000 1,50,000 75,000 30,000 70,000 24,000 20,000 14,94,000 Assets Goodwill Premises Machinery Trade investments Short term investment Stock Debtors Bills payable Cash Prepaid expenses Amount 1,00,000 3,00,000 4,50,000 1,00,000 44,000 1,75,000 1,75,000 1,25,000 10,000 15,000 14,94,000Required:a. Calculate the following ratios for Sweets plc for 2021 and 2020, showing the formulas and workings:4- Net profit margin5- Asset turnover6- Stock holding days7- Debtors collection period8- Current ratio9- Gearing ratio10- Interest coverYou have the following information: total assets = $200 million; risk-adjusted assets = $90 million; owners' equity = $3.5 million; Trust-preferred securities = $0.7 million; loan loss reserve = $1.5 million; & subordinated debt = $2 million Calculate: 1. Equity Capital Ratio 2. Tier 1 Ratio 3. Total Capital Ratio
- Flint Inc., a greetlng card company, had the following statements prepared as of December 31, 2020. FLINT INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $6,100 $7,100 Accounts recelvable 62,400 51,000 Short-term debt Investments (avallable-for-sale) 34,700 18,100 Inventory 40,400 60,300 Prepald rent 4,900 4,000 Equipment 154,100 130,600 Accumulated depreclatlon-equlpment (34,900 ) (24,800 ) Copyrights 46,400 49,800 Total assets $314,100 $296,100 Accounts payable $46,500 $40,200 Income taxes payable 4,000 6,000 Salarles and wages payable 8,100 4,100 Short-term loans payable 7,900 10,100 Long-term loans payable 59,600 68,400 Common stock, $10 par 100,000 100,000 Contributed capital, common stock 30,000 30,000 Retalned earnings 58,000 37,300 Total labiles &. stockholders' equlty $314,100 $296,100 FLINT INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020 Sales revenue $339,800 Cost of goods sold 176,500 Gross profit 163,300 Operating expenses…Reference is made to the 2022 Balance Sheet of Tram-Ropes limited. Tram-Ropes Limited Balance Sheet 2022 Cash Acc. Receivable Marketable securities Inventories Fixed Assets Total Assets i. 1,000,000.00 ii. 12,000,000.00 3,000,000.00 7,500,000.00 26,500,000.00 50,000,000.00 Accounts Payable Notes Payable Long-term Debt Common stock Preferred Stock Total Liabilities and Equity 8,000,000.00 8,500,000.00 20,000,000.00 7,500,000.00 6,000,000.00 Additional Information: The Long-Term debt consists of 8% annual coupon bonds, with 15 years to maturity and are currently selling for 95% of par. The company's common shares which have a book value of $20 per share are currently selling at $25 per share. 50,000,000.00The following information is available in respect of A Ltd Particulars As on 31.3.2019 (Rupees. In Lacs) As on 31.3.2020 (Rupees. In Lacs) Investment in Financial Assets - 100 Equity Share Capital 150 160 Long term Loans taken 100 200 Dividend paid - 26 Dividend received - 10 Interest received - 15 b. Calculate the relationship between the debt and equity for the year 2019 and 2020 and comment
