Current Assets .. Non-Current Assets Total Assets Current Liabilities Non-Current Liabilities Stockholder's Equity Total Liabilities & Stockholder's Equity Patikim Corporation Comparative Financial Condition For the Years Ended Dec. 31, 2017, 2016, & 2015 P P 2017 1,105,500 5,583,120 6,688,620 1,664,415 1,500,000 3,524, 205 6,668,620 P P 2016 1,025,500 5,822,710 6,848,210 952,918 Required: Prepare Comparative Statement 2017, 2016 & 2015 (Increase, Decrease) Prepare Horizontal Analysis . Prepare Vertical Analysis P 2015 1,500,000 4,395,293 6,848,210 7,018,600 955,900 6,062,700 7,018,600 1,147,528 1,500,000 4,371,073

Current Assets .. Non-Current Assets Total Assets Current Liabilities Non-Current Liabilities Stockholder's Equity Total Liabilities & Stockholder's Equity Patikim Corporation Comparative Financial Condition For the Years Ended Dec. 31, 2017, 2016, & 2015 P P 2017 1,105,500 5,583,120 6,688,620 1,664,415 1,500,000 3,524, 205 6,668,620 P P 2016 1,025,500 5,822,710 6,848,210 952,918 Required: Prepare Comparative Statement 2017, 2016 & 2015 (Increase, Decrease) Prepare Horizontal Analysis . Prepare Vertical Analysis P 2015 1,500,000 4,395,293 6,848,210 7,018,600 955,900 6,062,700 7,018,600 1,147,528 1,500,000 4,371,073

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 15P: Investments in Equity Securities Manson Incorporated reported investments in equity securities of...

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Current Assets Non-Current Assets Total Assets Current Liabilities Non-Current Liabilities Stockholder's Equity Total Liabilities & Stockholder's Equity Patikim Corporation Comparative Financial Condition For the Years Ended Dec. 31, 2017, 2016, & 2015 P P 2017 1,105,500 5,583,120 6,688,620 1,664,415 1,500,000 3,524, 205 6,668,620 P P 2016 1,025,500 P Required: 1. Prepare Comparative Statement 2017, 2016 & 2015 (Increase, Decrease) 2015 5,822,710 6,848,210 952,918 1,500,000 4,395,293 6,848,210 7,018,600 955,900 6,062,700 7,018,600 1,147,528 1,500,000 4,371,073
Transactions Alex and Hagi decided to open a home cleaning service company, H@L The following information is a partial list of transactions from H@L Inc. January 1- Alex and Hagi each donated $ 25.000 in exchange for common stock to start the business. March 3- H@L Inc., paid $ 3.000 cash for a two-year insurance policy that was effective immediately. March 15-The Company purchased $8.000 of supplies on account. April 5- The Company purchased some cleaning equipment for $10.000 cash. The equipment should last for five years with no residual value. H@L company will take a full year of depreciation in 2020. May 1-H@L Inc., purchased a year's worth of advertising in a local newspaper for $ 1.200 cash. September 1- The Company obtained a nine-month loan for $ 15.000 at 5% from Do Not Trust Bank, with interest and principal payable on June 2021. December 31- The Company paid $ 5.000 of accounts payable owed from transaction 3. December 31- The Company earned service revenues of $ 26.225, of…
ABC Industry and Trade Inc. Balance Sheet as of 31.12.2020 (TL) transactions ASSETS(Assets) I-Current Assets Ready Values Securities Commercial debts Stocks Other Current Assets Current Assets Total I-Fixed Assets Financial Fixed Assets Tangible Fixed Assets Total Fixed Assets TOTAL ASSETS 31.12.2020 Amount Vertical Percent (%) 360.000 12 45.000 1.5 870.000 29 840.000 28 255.000 8.5 2.370.000 79 390.000 13 240.000 8. 630.000 21 3.000.000 100 LIABILITIES(RESOURCES) l-Short Term Liv. resources Financial Debts Trade payables Short Term Foreign Resource Total Il-Long-Term Liabilities Financial Debts Long Term Liv. Source Ball. III-Equity Paid-in capital Profit Reserves Net profit for the period Previous Year's profit Total Equity TOTAL LIABILITIES (RESOURCES) 39.000 1.3 120.000 4 159.000 5.3 81.000 2.7 81.000 2.7 120.000 4 420.000 14 1.950.000 65 270.000 9 2.760.000 92 3.000.000 100 Requested: Calculate the vertical percentages of the Balance Sheet items of ABC Sanayi ve Ticaret A.Ş. dated…
Use the common-size financial statements found here: ommon-Size Balance Sheet 2016Cash and marketable securities $ 480 1.5 %Accounts receivable 6,030 18.2Inventory 9,540 28.8Total current assets $ 16,050 48.5 %Net property, plant, and equipment 17,020 51.5Total assets $33,070 100.0 %Accounts payable $ 7,150 21.6 %Short-term notes 6,850 20.7Total current liabilities $ 14,000 42.3 %Long-term liabilities 7,010 21.2Total liabilities $ 21,010 63.5 %Total common shareholders’ equity 12,060 36.5Total liabilities and shareholders’ equity $33,070 100.0 %Common-Size Income Statement 2016Revenues $ 30,000 100.0 %Cost of goods sold (20,050) 66.8Gross profit $ 9,950 33.2 %Operating expenses (7,960) 26.5Net operating income $ 1,990 6.6 %Interest expense (940) 3.1Earnings before taxes $ 1,050 3.5 %Income taxes (382) 1.3Net income $668 2.2 % Specifically, write up a brief narrative that responds to the following questions: a. How much cash does Patterson have on hand relative to its total…
Required: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 cover
Required:a. Calculate the following ratios for Sweets plc for 2021 and 2020, showing the formulas and workings:1- ROCE2- ROE3- Earnings per share4- Net profit margin5- Asset turnover6- Stock holding days7- Debtors collection period8- Current ratio9- Gearing ratio10- Interest cover
Assume an investee has the following financial statement information for the three years ending December 31, 2022: (At December 31) Current assets Tangible fixed assets Intangible assets Total assets Current liabilities Noncurrent liabilities Common stock Additional paid-in capital Retained earnings Stockholders' equity 2022 2021 $182,400 $177,600 $132,480 424,000 368,000 360,320 2020 25,600 28,800 32,000 $632,000 $574,400 $524,800 $76,800 $70,400 $64,000 170,400 155,200 140,800 64,000 64,000 64,000 64,000 64,000 64,000 256,000 220,800 192,000 384,000 348,800 320,000 Total liabilities and equity $631,200 $574,400 $524,800 (For the years ended December 31) Revenues Expenses Net income Dividends 2022 2021 2020 $620,800 $588,800 $544,000 560,000 537,600 496,000 $60,800 $51,200 $48,000 $25,600 $22,400 $16,000 Assume that on January 1, 2020, an investor company purchased 100% of the outstanding voting common stock of the investee. On the date of the acquisition, the investee's identifiable…
l-Itihad Corporation Balance SheetDecember 31, 2019AssetsLiability & EquityCurrent AssetsCurrent LiabilityCash$5,000Accounts payable22,000Short term securities10,000Accrual Account8,000Account Receivables30,000Short term debt6,000Inventory32,000Total Current Liability36,000Long-term debt40,000Total Current Assets77,000TotalLiability76,000Long term AssetsEquityNet Property & equipment70,000CommonStocks64,000Retained earnings17,000Total Equity81,000Total Liability and Equity157,000Other assts 10000Total Assets157,000Sur Corporation Income StatementDecember 31, 2019Other Financial information of Sur corporation December 31, 2019Net sales (revenue)$150,000· Average Number of Common shares outstanding 16,000 Shares· Market price of Common share $3.5Cost of goods sold80,000Gross profit70,000Operating expenses30,000EBIT- (Operating profit)40,000Interest expense10,000EBT- ( Earnings before taxes)30,000Income tax 10,000Net Income (net profit)20,000You have to find the following ratios…
Debt Management and Short-Term Liquidity Ratios The following items appear on the balance sheet of Figgins Company at the end of 2018 and 2019: Required: Between 2018 and 2019, indicate whether Figgins debt to equity ratio increased or decreased. Also, indicate whether Figgins current ratio increased or decreased. Interpret these ratios.
Debt Management Ratios Glow Corporation provides annual and quarterly financial data to the public. For the years of 2018 and 2019. Glows financial data included the following account balances: Required: Determine whether the debt to equity ratio is increasing or decreasing and whether Glow should be concerned.
Investments in Equity Securities Manson Incorporated reported investments in equity securities of 60,495 as a current asset on its December 31, 2018, balance sheet. An analysis of Mansons investments on December 31, 2018, reveals the following: During 2019, the following transactions related to Mansons investments occurred: Required: 1. Assuming Manson prepares quarterly financial statements, prepare journal entries to record the preceding information. 2. Show the items of income or loss from investment transactions that Manson reports for each quarter of 2019. 3. Show how Mansons investments are reported on the balance sheet on March 31, 2019; June 30, 2019; September 30, 2019; and December 31, 2019.
The following information pertains to BT21 Co. for the year.· Net assets, Jan.1, 2021- P1,008,480· Net assets, Dec. 31. 2021- P2,112,960· Share capital issued in 2021- P335,520· Dividends declared in 2021- P195,120How much is the profit (loss)?