FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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S equity at acquesition consist of 300000 common stock and 100000 retained earning inventory understated 20000 of which 80% sold in y1 and15% sold in y2 note payable overstated 9000 and 3 years to maturity note receivable overstated 6000 and 24 months remaining to mature S net income for year 1 was 60000 and S net income for year 2 was 70000 S dividends in year 1 = 15000 in year 2 = 1500 sales from P to S year 1 of product A 1000 at $18 cost of those to P was $14 and S sold to external at $22 in year 1 S sold 600 and in year 2 S sold 400 sales from S to P year 1 of product B 900 at $17 these cost S $15 and P sold to external at $20 in in Year 1 P sold 700 and in year 2 150 sales from P to S year 2 product C 500 at $20 these cost P $17 and S sold 150 units to external at $25 sales from S to P year 2 product D 400 at $18 these cost S $12 and P sold 150 units to external at $20 i will provide you with these info, i want answers for second year and P percentage of S is 66% find: upstream unrealized gross profit become realized downstream unrealized gross profit become realized upstream realized gross profit become unrealized downstream realized gross profit become unrealized upstream unrealized gross profit still unrealized downstream unrealized gross profit still unrealized adjusted net income of S before gross profit adjustments adjusted net income of S after upstream gross profit adjustments adjusted net income of S before upstream gross profit adjustments unamortized differences beginning of year unamortized differences ending of year NCI share income from S changes of investment in s changes in NCI NCI share IN consolidated income statement income from S in consolidated income statement investment in S in the books of P beginning of the year investment in S in the books of P ending of the year NCI in consolidated balance sheet
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- What is the total stockholders' equity based on the following data? Common Stock $900,000 Excess of Issue Price Over Par—Common Stock 375,000 Retained Earnings (deficit) (50,000) a.$900,000 b.$1,225,000 c.$1,275,000 d.$1,325,000arrow_forwardTotal assets Notes payable (6% interest) Common stock Preferred 2.5% stock, $100 par (no change during year) Retained earnings 20Y7 $5,200,000 2,500,000 250,000 Return on total assets December 31 20Y6 $5,000,000 2,500,000 250,000 500,000 1,222,000 500,000 1,574,000 < The 20Y7 net income was $411,000, and the 20Y6 net income was $462,500. No dividends on common stock were declared between 201 and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7. 20Y7 a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity for the years 20Y6 and 20Y7. Round percentages to one decimal place. 19.13 % X % 20Y5 $4,800,000 2,500,000 250,000 Return on stockholders' equity Return on common stockholders' equity h The profitability ratios indicate that the company's profitability has deteriorated % 500,000 750,000 20Y6 94.0 X % % % ✓. Because the return on commonarrow_forwardearnings. Cash Accounts Receivable (net) Inventory Investments Net income Increase (Decrease) $69,570 53,800 $ 130,500 (47,390) Accounts Payable Bonds Payable Common Stock Paid-In Capital in Excess of Par-Common Stock Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $26,900 which was paid in the current year. Increase (Decrease) $(51,240) 83,080 131,900 15,920arrow_forward
- Given the information below, calculate the Working Capital and Current Ratio 1 Cash and marketable securities - $3,500,000 2 Accounts Receivable (Gross) - $2,000,000 Allowance for doubtful accounts 2.5% 3 Accounts Payable - $2,500,000 4 Accumulated Depreciation 2,500,000 6 Inventory - $3,500,000 7 Other Current Assets - $1,000,000 8 Common Stock at Par Value - $100,000 9 Current portion of long term notes - $1,000,000 10 Other Current Liabilities - $1,950,000 11 Goodwill - $10,000,000 12 Long-Term debt - $10,000,000arrow_forwarddentifying Comparables and Valuation using PB and PE Tailored Brands Inc.’s book value of equity is $4.563 million and its forward earnings estimate per share is $1.10, or $55.7 million in total earnings. The following information is also available for TLRD and a peer group of companies (identified by ticker symbol) from the specialty retail sector. Ticker Market Cap($ mil.) PB Current Forward PE (FY1) EPS 5-Year Historical Growth Rate ROE (T 4Q) Debt-to- Equity (Prior Year) TLRD -- -- -- -0.47% 22.50% 2.53 GCO 585.7 1 9.699 -323.73% -5.86% 0.13 ZUMZ 789.7 1.95 14.17 3.28% 13.85% 0 GES 1,147.00 2.07 13.19 -37.69% 1.90% 0.56 ANF 988.2 1 19.69 9.37% 6.35% 0.25 TLYS 293.7 1.68 11.6 5.51% 13.93% 0 M 4,760.00 0.75 5.458 -1.74% 16.70% 0.74 (a) Identify a set of three companies from this list to use as comparables for estimating the equity intrinsic value of…arrow_forwardPlease help me with show all calculation thankuarrow_forward
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