Current Attempt in ProgressBramble Inc's balance sheet, dated October 28, 2025, includes the following liabilities and stockholders' equity items (in millions).Accounts payableCommon stockCurrent portion of long-term debtIncome taxes payableLong-term debtOther long-term liabilitiesRetained earnings34.0 Unearned sales revenue$590.0750.0440.0BRAMBLE INC.Balance Sheet (partial)$1,450.0(in millions)Liabilities and Stockholders' Equity340.01.260.0Prepare the liabilities and stockholders' equity sections of the balance sheet. (Round answers to 1 decimal places, e.g. 52.5. Enter amountsin millions.)36.0

The balance sheet outlines the assets and liabilities at the end of the financial year while the…

Current Attempt in Progress Bramble Inc's balance sheet, dated October 28, 2025, includes the following liabilities and stockholders' equity items (in millions). Accounts payable Common stock Current portion of long-term debt Income taxes payable $590.0 750.0 440.0 34.0 Long-term debt Other long-term liabilities Retained earnings Unearned sales revenue BRAMBLE INC. Balance Sheet (partial) (in millions) $1,450.0 Liabilities and Stockholders' Equity 340.0 Prepare the liabilities and stockholders' equity sections of the balance sheet. (Round answers to 1 decimal places, e.g. 52.5. Enter amounts in millions.) 1,260.0 36.0

Current Attempt in Progress Bramble Inc's balance sheet, dated October 28, 2025, includes the following liabilities and stockholders' equity items (in millions). Accounts payable Common stock Current portion of long-term debt Income taxes payable $590.0 750.0 440.0 34.0 Long-term debt Other long-term liabilities Retained earnings Unearned sales revenue BRAMBLE INC. Balance Sheet (partial) (in millions) $1,450.0 Liabilities and Stockholders' Equity 340.0 Prepare the liabilities and stockholders' equity sections of the balance sheet. (Round answers to 1 decimal places, e.g. 52.5. Enter amounts in millions.) 1,260.0 36.0

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the table for the question(s) below. Consider the following balance sheet: Luther Corporation Consolidated Balance Sheet December 31, 2019 and 2018 (in $ millions) Assets 2019 2018 Liabilities and Stockholders' Equity 2019 2018 Current Assets Current Liabilities Cash 63.6 58.5 Accounts payable 87.6 73.5 Accounts receivable 55.5 39.6 Notes payable / short−term debt 10.5 9.6 Inventories 45.9 42.9 Current maturities of long−term debt 39.9 36.9 Other current assets 6.0 3.0 Other current liabilities 6.0 12.0 Total current assets 171.0 144.0 Total current liabilities 144.0 132.0 Long−Term Assets Long−Term Liabilities Land 66.6 62.1 Long−term debt 239.7 168.9 Buildings 109.5 91.5 Capital lease obligations −−− −−−…
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…
Current Attempt in Progress The following data were taken from the balance sheet accounts of Oriole Corporation on December 31, 2024. Current assets Debt investments (trading) Common stock (par value $10) Paid-in capital in excess of par Retained earnings a. b. $590,000 630,000 C. 501,000 Prepare the required journal entries for the following unrelated items. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.) 162,000 870,000 A 4% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $45. The par value of the common stock is reduced to $2 with a 5-for-1 stock split. A dividend is declared January 5, 2025, and paid January 25, 2025, in bonds held as an investment. The bonds have a book value of…
A comparative balance sheet for Gena Company appears below:GENA COMPANYComparative Balance SheetDec. 31, 2021 Dec. 31, 2020AssetsCash $ 34,000 $11,000Accounts receivable 21,000 13,000Inventory 35,000 17,000Prepaid expenses 6,000 9,000Long-term investments -0- 17,000Equipment 60,000 33,000Accumulated depreciation—equipment (20,000) (15,000)Total assets $136,000 $85,000Liabilities and Stockholders' EquityAccounts payable $ 17,000 $ 7,000Bonds payable 36,000 45,000Common stock 53,000 23,000Retained earnings 30,000 10,000Total liabilities and stockholders' equity $136,000 $85,000Additional information:1. Net income for the year ending December 31, 2021 was $35,000.2. Cash dividends of $15,000 were declared and paid during the year.3. Long-term investments that had a cost of $17,000 were sold for $14,000.4. Depreciation expense for the year was $5,000.InstructionsPrepare a full statement of cash flows for the year ended December 31, 2021, using the indirectmethod.
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Godo At May 31, 2019, FOR Deliveries reported the following amounts (in millions) in its financial statements:20192018Total Assets$ 70,000$ 68,000Total Liabilities46,20042,160Interest Expense736750Income Tax Expense155260Net Income7806,275 Required: 1. Compute the debt-to-assets ratio and times interest earned ratio for 2019 and 2018. 2-a. In 2019, were creditors providing a greater (or lesser) proportion of financing for FOR’s assets? 2-b. In 2019, was FOR more (or less) successful at covering its interest costs, as compared to 2018?
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