Cash Accounts receivable nventory Total current assets Fixed assets Less: accumulated depreciation Net fixed assets Total assets Accounts payable Accrued expenses Current portion of debt Total current liabilities Long-term debt Total liabilities Owners' equity Total liabilities & owner's equity 2019 35,000 12,000 650 47,650 65,000 (40,000) 25,000 72,650 2,200 650 1,200 4,050 18,000 22,050 50,600 72,650 2020 45,000 10,000 500 55,500 65,000 (47,500) 17,500 73,000 800 850 1,600 3,250 16,000 19,250 53,750 73,000 2021 65,000 16,000 200 81,200 70,000 (56,000) 14,000 95,200 1,000 950 1,500 3,450 15,000 18,450 76,750 95,200 2022 100,000 15,000 350 115,350 35,000 (58,500) (23,500) 91,850 1,100 450 1,000 2,550 14,500 17,050 74,800 91,850

Cash Accounts receivable nventory Total current assets Fixed assets Less: accumulated depreciation Net fixed assets Total assets Accounts payable Accrued expenses Current portion of debt Total current liabilities Long-term debt Total liabilities Owners' equity Total liabilities & owner's equity 2019 35,000 12,000 650 47,650 65,000 (40,000) 25,000 72,650 2,200 650 1,200 4,050 18,000 22,050 50,600 72,650 2020 45,000 10,000 500 55,500 65,000 (47,500) 17,500 73,000 800 850 1,600 3,250 16,000 19,250 53,750 73,000 2021 65,000 16,000 200 81,200 70,000 (56,000) 14,000 95,200 1,000 950 1,500 3,450 15,000 18,450 76,750 95,200 2022 100,000 15,000 350 115,350 35,000 (58,500) (23,500) 91,850 1,100 450 1,000 2,550 14,500 17,050 74,800 91,850

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Investing activities include Multiple Choice Purchase of non-current assets Lending and collecting on notes receivable Sale of equity investments Sale of non-current assets < Prev 30 of 30 D Next arch VivoBook LGO 81 dm
Income Statement for CharmCorp: Total sales Cost of sales Gross Profit Selling, general, and administrative expenses Research and development Depreciation and amortization Operating Income Other income Earnings before interest and taxes (EBIT) Interest income (expense) Q Search OA. $1.60 OB. $2.40 OC. $1.00 OD. $2.00 2008 600 -532 68 36 87년에 -4 23 24 -7 2009 540 - 488 52 ܘܕܢܕ 21 26 -7 21 Time Remaining: 01:04:54
ASSETS Current assets Cash Accounts receivable Prepaid rent Total current assets Long-term assets Leasehold improvements Accumulated depreciation Total long-term assets $ 32,800 300 1,000 $73,900 100,000 (2,000) $ 98,000 LIABILITIES Current liabilities Accounts payable Accrued expenses Unearned revenue Total current liabilities Long-term liabilities Total liabilities OWNERS' EQUITY Retained earnings Common stock Total owners' equity $ 49,000 450 1,000 $ 50,450 99,500 $149,950 $ 11,950 10,000 $21,950 $ 171,900 Total liabilities and equity Total assets $ 171,900 Using this information, calculate Jojo's debt-to-total assets ratio. Enter your answer rounded to two decimal places.
! 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
H1. Question 4. Calculate the Current assets from the following: Current liabilities $35978, Current ratio 3. a $11992.70 b $11900 c $107934
The following information is given: Current liabilities Non-Current liabilities Owner's Equity Current Assets What is the total non-current asset? 100.000 150.000 Twice as much as total liabilities 40% of total assets
QUESTION 1 Below are the statements of Financial Position for Grace Ltd as at 31 December, 2009 and 31 December, 2008 and the Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December, 2009. 2009 2008 ASSETS GHS'000 GHS'000 Non-current assets Tangible assets Intangible assets 832 681 1,415 817 2,247 1,498 s Current assets Inventory 619 701 Receivables 584 492 Investments 396 125 Cash 17 81 1,616 1,399 Total assets 3,863 2,897 EQUITY AND LIABILITIES Equity Equity shares (GHS1) Revaluation surplus Retained earnings 500 300 150 40 1,924 1494 2.574 1,834 Non-current liabilities Provision for court case 73 50 5% Debentures 220 88 293 138 .Current liabílities Interest payable Bank Dividends payable Tax payable Trade payables 100 30 60 81 140 238 226 517 529 996 925 Total equity and liabilities 3.863 2,897
PROBLEM The following data were taken from the Statement of Affairs of ABC Company: P175,000 90,000 Assets pledged for fully secured liabilities Assets pledged for partially secured liabilities Free assets Fully secured liabilities Partially secured liabilities Unsecured liabilities without priority Unsecured liabilities with priority 54,000 100,000 110,000 90,000 12,000 REQUIREMENT: How much is the ESTIMATED RECOVERY FOR UNSECURED LIABILITIES WITHOUT PRIORIT Presentation of solution is required.
Comprehensive Problem The following were taken from the books of Amihan Company: Long-term Payable Notes Payable Property. Plant and Equipment Accounts Receivable Accounts Payable Accumulated Depreciation Cash Owner's Capital Unearned Income Notes Receivable Prepaid Expenses Accrued Expenses Inventory Intangible Assets P 500,000 120.000 750,000 56.000 65,000 100,000 77,000 c. Prepaid Expenses is current. d. Date of SFP, December 31, 2020 ? 15.345 244.000 56.700 37,890 157,840 124,500 OUTPUT 1 Prepare a classified SFP given the following additional information: (ACCOUNT FORM) SFP a. Notes Payable is due 6 months from now. b. Notes Receivable is collectible 9 months from now.
Selected accounts from Gregor Company's adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Note: On the company's balance sheet, accumulated depreciation is subtracted from equipment, accumulated amortization is subtracted from patents, and accumulated depletion is subtracted from silver mine. Common stock Retained earnings Patents Cash Land Equipment Silver mine Current assets Plant assets Total plant assets Intangible assets Tatal intensible anta $ 47,000 Accounts payable 17,000 Accumulated depreciation-Equipment 6,800 Notes payable (due in 9 years) 7,400 Goodwill 44,000 Accumulated depletion-Silver mine 34,000 Accumulated amortization-Patents 29,000 GREGOR COMPANY Balance Sheet December 31 Assets 0 0 0 0 $ 3,400 25,600 25,000 6,400 5,800 3,800
What amount was reported by Jolo Company as actual return on plan assets? 1 000 000 1 100 000 900 000 200 000
"Accrued interest income" would normally appear in the financial statement under *Current assetsNoncurrent assetsRevenueEquity