On January 1, Year 1, the general ledger of a company includes the following account balances: Credit Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Debit $ 25,600 47,200 $ 4,700 20,500 51,000 17,500 Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, Year 2) Common Stock Retained Earnings 2,000 29,000 55,000 40,000 31,100 $161,800 Totals $161,800 During January Year 1, the following transactions occur: January 2 Sold gift cards totaling $9,000. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $152,000. January 15 The comapany sales for the first half of the month total $140,000. All of these sales are on account. The cost of the units sold is $76,300. January 23 Receive $125,900 from customers on accounts receivable. January 25 Pay $95,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $5,300. January 30 The comapany sales for the second half of the month total $148,000. Sales include $10,000 for cash and $138,000 on account. The cost of the units sold is $82,000. January 31 Pay cash for monthly salaries, $52,500.

The following items are reported on a company's balance sheet: Cash $295,700 Marketable securities 231,000 Accounts receivable (net) 265,300 Inventory 132,000 Accounts payable 330,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place. a. Current ratio b. Quick ratio

The following items are reported on a company's balance sheet: Cash $283,200 Marketable securities 83,400 Accounts receivable 251,600 Inventory 185,700 Accounts payable 315,200 Determine the (a) current ratio, and (b) quick ratio. Round your answers to one decimal place. a. Current ratio b. Quick ratio

American Laser, Inc., reported the following account balances on January 1. Accounts Receivable Accumulated Depreciation. Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings. Cash Common Stock, 10,000 shares of $1 part Notes Payable (long-term) Retained Earnings Treasury Stock TOTALS Requirement View transaction list General Journal

American Laser, Inc., reported the following account balances on January 1. Accounts Receivable Accumulated Depreciation. Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings. Cash Common Stock, 10,000 shares of $1 part Notes Payable (long-term) Retained Earnings Treasury Stock TOTALS Requirement View transaction list General Journal

ABCD Corp Balance Sheet and Income Statement for the period as at December 31, 2014   Balance Sheet Assets    RM Cash   72,000 Accounts receivable  439,000 Inventories  894,000 Total current assets1,405,000 Fixed Assets   431,000 Total Assets1,836,000   Liabilities Accounts and Notes payable  432,000 Accruals  170,000 Total Current Liabilities  602,000 Long term debt  404,290 Common stock  575,000 Retained Earnings  254,710 Total Liabilities & Equity1,836,000   Income Statement   Sales 4,290,000 Cost of goods sold 3,580,000 Selling, general, and administrative expenses   370,320 Depreciation   159,000 Earnings before taxes (EBT)   180,680 Taxes (40%)     72,272 Net Income   108,408   Per Share Data EPS RM4.71
Cash dividends per share RM0.95 P/E ratio 5 x Market Price (average) RM23.57 Number of Shares Outstanding 23,000   INDUSTRY FINANCIAL RATIO   1. Quick ratio 1.0x 2. Current ratio 2.7x 3. Inventory turnover 7.0x 4. Days sales outstanding 32 days 5. Fixed asset turnover 13.0x 6.…

Consider the following financial data for Larry’s Computer Stores: Statement of Financial Position as of December 31, 2012 Cash & equivalents $ 94,500   Accounts payable $ 122,500 Receivables   202,500   Short-term bank note   162,500 Inventories   364,000   Accrued wages and taxes   110,500   Total current assets $ 661,000     Total short-term liab. $ 395,500         Long-term debt   418,000 Net fixed assets   468,500   Common equity   316,000 Total assets $ 1,129,500   Total liabilities & equity $ 1,129,500               Statement of Earnings for the Year Ended December 31, 2012 Sales revenue $ 450,000 Cost of merchandise sold   250,000 Gross profit $ 200,000 Operating expenses   97,500   Earnings before interest and taxes (EBIT) $ 102,500 Interest expense   46,500   Earnings before taxes (EBT) $ 56,000 Federal and state income taxes (45 percent)   25,200 Net earnings $ 30,800…

Presented below is selected financial data for Teague Industries for the current year: Current assets: ​ Current liabilities ​ Cash and cash equivalents $3503​ Accounts payable $5385​ Short-term investments 1555​ Other current liabilities 2892​ Receivables, net 1811​ Total current liabilities 8277​ Merchandise inventories 6205​ Noncurrent liabilities 5196​ Other current assets 1975​ Shareholders' Equity 6250​ Total current assets ​ 15,049 ​ Total liabilities and shareholders' equity $19,723​ Noncurrent assets 4674​ ​ ​ Total assets $19,723​ ​ ​ ​ ​ ​ ​ Revenues $50,826 ​ ​ Costs and Expenses 45,963 ​ ​ Operating Income 4,863 ​ ​ Other income/expense (including interest expense of $60) (36) ​ ​ ​ Income before income tax 4827​ ​ ​ Income tax expense (1449) ​ ​ Net income $3378​ ​ ​ Previous Years' Financial Data Total Assets $17,020​ Shareholders' Equity 4000​ The financial leverage for Teague Industries is ________. (Round your answer to two decimal places, X.XX.)

The account balances for KinderMorgan Account Title Balance Accounts Payable $8,990 Accounts Receivable, 1/1/22 4,455 Accumulated Depreciation 21,500 Building 65,000 Cash 10,300 45,000 Common Stock Delivery Truck Depreciation Expense Dividends 9,700 4.210 2,100 Marketable Equity Securities 3,400 Accounts Receivable, 12/31/22 5.250 Determine the Debt to Equity Ratio: 0.1114 0.1694 0.2101 0.1482 O 0.1783 are listed below. All balances are as of December 31, 2022, except where noted: Account Title Balance Inventory, 1/1/22 $2,040 Supplies 7,500 Salaries Expense 11,250 54,005 7,850 Retained Earnings, 1/1/22 23,480 Equipment 15,700 Prepaid Expenses 2,600 Cost of Goods Sold 16,350 Notes Payable (due 2024) 5.400 Inventory, 12/31/22 3,660 Net Revenue Rent Expense

The balance sheet for Gallinas Industries is as​ follows, Gallinas Industries Balance Sheet December 31   Assets     Liabilities and Stockholders' Equity   Cash $35,000   Accounts payable $101,920 Marketable securities 101,920   Notes payable 62,720 Accounts receivable 109,760   Accrued wages 62,720 Inventories 148,960   Total current liabilities $227,360 Total current assets $395,640   Long-term debt $203,840 Land and buildings (net) $145,635   Preferred stock $94,080 Machinery and equipment 242,725   Common stock (10,000 shares) 141,120 Total fixed assets (net) $388,360   Retained earnings 117,600 Total assets $784,000   Total liabilities and stockholders' equity $784,000 Additional information with respect to the firm is​ available:   1. Preferred stock can be liquidated at book value. 2. Accounts receivable and inventories can be liquidated at 85​%of book value. 3. The firm…