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Selected balance sheet accounts for Tibbetts Company on September 30, 2019. are as follows: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses $ 48,000 87,000 129,000 135, 000 21,000 Total current assetS $420,000 Accounts payable Other accrued liabilities $147,000 33,000 60,000 Short-term debt Total current liabilities $240,000 Required: a. Calculate the working capital, current ratio, and acid-test ratio for Tibbetts Company as of September 30. 2019 b. Summarized here are the transactions/events that took place during the fiscal year ended September 30, 2020. Prepare Journal entries for the below transactions and Indicate the effect of each item on Tibbetts Company's working capital, current ratio, and acid-test ratio. Use + for Increase, - for decrease, and (NE) for no effect. 1. Credit sales for the year amounted to $360,000. The cost of goods sold was $234.000 2 Collected accounts recelvable, $378,000. 3. Purchased inventory on account, $252,000. 4.…

White Corporation provided you with the following summary of total assets and liabilities at January 1, 2021 and at December 31, 2021.Assets, January 1, 2021 - P9,000,000Assets, December 31, 2021 - P12,000,000Liabilities, January 1, 2021 - P3,200,000Liabilities, December 31, 2021 - P4,500,000During 2021, the company issued 10,000 shares of its P100 par ordinary share at P150 per share and declared dividends of P280,000.  There were no other changes affecting the equity accounts. How much is White Corporation’s profit for the year 2021?

Swifty Company purchased treasury stock with a cost of $16500 during 2020. During the year, the company paid dividends of $19600 and issued bonds payable for proceeds of $850000. Cash flows from financing activities for 2020 total $850000 net cash outflow. $846900 net cash inflow. O $813900 net cash inflow. O $830400 net cash inflow.

Bramble Inc., had the following condensed balance sheet at the end of operations for 2019. BRAMBLE INC.BALANCE SHEETDECEMBER 31, 2019 Cash   $8,500   Current liabilities   $15,000 Current assets other than cash   29,100   Long-term notes payable   25,700 Equity invesments   19,900   Bonds payable   25,000 Plant assets (net)   66,800   Common stock   75,000 Land   39,700   Retained earnings   23,300     $164,000       $164,000 During 2020, the following occurred. 1.   A tract of land was purchased for $9,100. 2.   Bonds payable in the amount of $15,000 were redeemed at par. 3.   An additional $9,900 in common stock was issued at par. 4.   Dividends totaling $9,300 were paid to stockholders. 5.   Net income was $30,500 after allowing depreciation of $13,700. 6.   Land was purchased through the issuance of $22,400 in bonds. 7.   Bramble Inc. sold part of its investment portfolio for $13,000. This transaction resulted in a gain…

Kingbird Inc., had the following condensed balance sheet at the end of operations for 2019. KINGBIRD INC.BALANCE SHEETDECEMBER 31, 2019 Cash   $8,400   Current liabilities   $15,100 Current assets other than cash   29,300   Long-term notes payable   25,700 Equity invesments   19,800   Bonds payable   25,000 Plant assets (net)   67,700   Common stock   75,000 Land   40,400   Retained earnings   24,800     $165,600       $165,600 During 2020, the following occurred. 1.   A tract of land was purchased for $9,100. 2.   Bonds payable in the amount of $15,000 were redeemed at par. 3.   An additional $10,000 in common stock was issued at par. 4.   Dividends totaling $9,500 were paid to stockholders. 5.   Net income was $30,400 after allowing depreciation of $13,600. 6.   Land was purchased through the issuance of $22,600 in bonds. 7.   Kingbird Inc. sold part of its investment portfolio for $12,700. This transaction resulted in a…

The 2020 balance sheet of Osaka's Tennis Shop, Incorporated, showed long-term debt of $5.9 million, and the 2021 balance sheet showed long-term debt of $6.15 million. The 2021 income statement showed an interest expense of $200,000. The 2020 balance sheet showed $580,000 in the common stock account and $3.5 million in the additional paid-in surplus account. The 2021 balance sheet showed $620,000 and $3.9 million in the same two accounts, respectively. The company paid out $570,000 in cash dividends during 2021. Suppose you also know that the firm's net capital spending for 2021 was $1,440,000 and that the firm reduced its net working capital investment by $83,000. what was the firm's 2021 operating cash flow, or OCF?