Cash Cash Equivalents $ 26,500 5,000 Total Current Liabilities 30,000
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Computing the cash ratio
Smythe Banners reported the Following figures in its financial statements:
Compute the cash ratio for Smythe Banners.
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- Indicate in which financial statement each item would most likely appear: income statement (I), balance sheet (B), or statement of cash flows (CF).Attached below is the Balance Sheet of GoodWorld Incorporated Company. Calculate the WACC for the company by using the capital Structure value from the balance sheet. Use the format below to answer your question. Capital Structure 1.Common Stock 2.Preferred Stock 3.Loans / LT debt /Bond 4.Retained Earnings Total ASSETS Current Assets Cash and Cash Equivalents Accounts Receivable Inventory Prepaid Expenses Investment Total Current Assets Amount in Balance Sheet Calculate the WACC: Balance Sheet of GoodWorld Incorporated Company Good World Incorporated Balance Sheet 31-Dec-22 Property & Equipment Land Buildings Equipment Less: Accumulated Depreciation Other Assets Intangible Assets Less: Accumulated Amortization Total Assets $'000 200,000 30,000 20,000 10,000 20,000 280,000 120,000 450,000 100,000 -30,000 40,000 -10,000 Cost 950,000 12% 10% 14% 12% Proposition LIABILITIES & SHAREHOLDERS EQUITY Current Liabilities Accounts Payable Notes Payables Accrued Expenses Deferred Revenue Total…Hirshberg Corporation's comparative balance sheet appears below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment. Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities. Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings. Total stockholders' equity Total liabilities and stockholders' equity. The company's net cash provided by (used in) investing activities is: Multiple Choice O $41,000 $38,300 O $(9,000) O Ending Balance $(23,000) $ 63,000 36,700 79,300 179,000 362,000 208,000 154,000 $333,000 The company's net income for the year was $14,700 and its cash dividends were $7,100. It did not sell or retire any property, plant, and equipment during the year. $ 39,300 84, 100 67,300…
- Which of the following shows how paying cash to purchase supplies will affect a company's financial statements? Multiple Choice Assets = Liabilities + Assets Assets +/- Balance Sheet Assets +/- ΝΑ Balance Sheet = Liabilities + ΝΑ Balance Sheet = Liabilities + ΝΑ Balance Sheet = Liabilities + ΝΑ Stockholders' Equity Stockholders' Equity Stockholders' Equity ΝΑ Stockholders' Equity ΝΑ Revenue ΝΑ Revenue ΝΑ Revenue ΝΑ Revenue ΝΑ Income Statement Expense = Net Income ΝΑ Income Statement Expense = Net Income + Income Statement ΝΑ Expense = Net Income ΝΑ Income Statement ΝΑ Expense = Net Income ΝΑ ΝΑ Statement of Cash Flows -Operating Activity Statement of Cash Flows ΝΑ Statement of Cash Flows -Operating Activity Statement of Cash Flows ΝΑRooney Brands, Incorporated, presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from Rooney's Year 2 and Year 1 year-end balance sheets. Assume that Accounts Payable is used for purchases of inventory only. Account Title Accounts receivable Merchandise inventory Prepaid insurance Accounts payable Salaries payable Unearned service revenue The Year 2 income statement is shown below: Income Statement Sales Cost of goods sold Gross margin Service revenue Insurance expense Salaries expense Depreciation expense Operating income Gain on sale of equipment Net income Required A Required B Year 2 $20,700 58,500 16,000 23,400 4,650 900 $617,000 (372,000) 245,000 Required a. Prepare the operating activities section of the statement of cash flows using the direct method. b. Prepare the operating activities section of the statement of cash flows using the indirect method. Cash flows from operating activities: 4,800 (40,000)…Illies Corporation's comparative balance sheet appears below: Beginning Balance Assets: Current assets Cash and cash equivalents. Accounts receivable. Inventory. Total current assets Property, plant, and equipment. Less accumulated depreciation. Net property, plant, and equipment. Total assets. Liabilities and Stockholders' Equity Current liabilities: Accounts payable. Accrued wages and salaries payable.. Accrued income taxes payable. Notes payable. Total current liabilities. Long-term debt. Deferred income taxes. Total liabilities Stockholders' equity: Common stock. Retained earnings. Ending Balance Select one: $ 40,000 19,000 O a. $7,000 O b. $40,000 O c. $29,000 O d. $33,000 67,000 126,000 123,000 358,000 339,000 156,000 132,000 202.000 $328,000 $ 33,000 21,000 69,000 $ 18,000 35,000 23,000 207.000 $330,000 23,000 103,000 22,000 102,000 Total stockholders' equity 126,000 124.000 Total liabilities and stockholders' equity.... $328,000 $330.000 $ 19,000 37,000 19,000 19,000 22,000…
- Compute the cost of goods sold and ending inventory, assuming (1) FIFO cost flow, (2) LIFO cost flow, and (3) weighted-average cost flow. Then, compute the income tax expense for each method. Use a vertical model to show the 2018 income statement, balance sheet, and statement of cash flows under FIFO, LIFO, and weighted average. (Hint: Record the events under an accounting equation before preparing the statements.)Assuming Sherban reports dividends paid as a financing activity: Calculate net cash flow from operating activities. Use a proper three-line title. Calculate Sherban’s current cash debt coverage ratio, cash debt coverage ratio and free cash flow. Using your answers in part (b) and comment on Sherban’s liquidity and financial flexibility. Under IFRS, how else might Sherban account for cash dividends paid in the cash flow statement?The comparative statements of financial position for Judy Inc. are presented below: JUDY INC. Comparative Statements of Financial Position Assets Cash. Accounts receivable. Inventory. Prepaid expenses. Investments.. Property, plant, and equipment.. Accumulated depreciation..... Total..... Accounts payable. Accrued expenses payable Bonds payable.. Common shares. Retained earnings. Total..... Sales Expenses Cost of goods sold. Operating expenses (excluding depreciation).. Depreciation expense Income tax expense. Net income..... Liabilities and Shareholders' Equity Interest expense Loss on sale of property, plant, and equipment.. Income before income tax.. 2022 $ 68,000 97,000 180,000 5,000 30,000 448,000 (100,000) $728.000 JUDY CORPORATION Statement of Income Year Ended December 31, 2022 $ 76,000 20,000 260,000 100,000 272,000 $728.000 5. Accrued expenses pertain to operating expenses. 6. The bonds were originally issued at face value. $580,000 180,000 30,000 18,000 8,000 2021 $ 36,000…
- Please answer the following using the image attached. Thank you 1. Cash Received from customers 2. Cash payment for Salaries 3. Cash payment for Operating Expenses 4. Cash payment for Income Tax 5. Cash Flows from Operating Activities 6. Cash Flows from Investing Activities 7. Cash Flows from Financing Activities 8. Cash flows from acquiring and selling products are classified as 9. Cash flows from acquiring and disposing long-term assets are classified as 10. Cash flows from borrowings and paying of debts are classified asUse the following excerpts from Grenada Company’s financial records to determine net cash flows from operating activities and net cash flows from investing activities.Prepare a complete statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign.