Required: Prepare the current assets section of Jenkins's balance sheet at the end of 2019. JENKINS COMPANY Current Asset Section of Balance Sheet December 31, 2019 Current Assets Cash: On hand In bank Marketable securities (short-term) Accounts receivable Less: Allowance for doubtful accounts Inventory Prepaid items: Prepaid insurance Office supplies Total current assets 00

Adjusting Balance Sheet and Income Statement for LIFO to FIFO In its December 2019 10-K, Phillips 66 reported the following information ($ millions). 2019 Assets 2019 Inventories 2019 LIFO Reserve 2018 LIFO Reserve Tax Rate $46,976 $3,021 $3,440 $2,320 22% a. Determine the necessary adjustments to the following balance sheet line items for 2019. Note: Round your answers to the nearest whole dollar. Inventories Total assets Adjustment ($ in millions) $ $ Deferred tax liabilities $ Equity $ b. Determine the necessary adjustments to the following income statement line items for 2019. Note: Round your answers to the nearest whole dollar. Adjustment ($ in millions) Cost of goods sold $ Pretax income $ Income tax expense $ Net income $ c. Compute the common-size inventories percentage with LIFO and with FIFO for 2019. Hint. Compute inventory as percent of total assets. Note: Round the percentage to one decimal place (for example, enter 14.6% for 14.55555%). Common size inventories percentage…

Determining Cash Flows from Financing Activities Nichols Inc. reported the following amounts on its balance sheet at the end of 2019 and 2018 for equity:   12/31/2019 12/31/2018 Common stock $210,000   $135,000   Retained earnings 495,300   412,800     Required: Assume that Nichols did not retire any stock during 2019, it reported $105,610 of net income for 2019, and any dividends declared were paid in cash. Determine the amounts Nichols would report in the financing section of the statement of cash flows. Issuance of common stock $fill in the blank 1 Payment of dividends $fill in the blank 2

This Information will be used for all questions: Selected Balance Sheet Information    Year 2020     Year 2021 Cash             40,000  ?  Accounts Receivable             10,000             14,000 Prepaid Rent               5,000               6,000 Inventory             35,000             30,000 Accounts Payable               3,000               2,000 Unearned Revenue               5,000               7,000 Income Taxes Payable             14,000             12,000       Other Relevant Information for 2021     Beginning Cash Balance             40,000   Net Income             65,000   Depreciation Expense             40,000   Cash Paid for Dividends             10,000   Cash Received for Loan             40,000   Cash Repaying Loan             10,000   Cash Payment to Purchase Land             12,000   Cash Received for Sale of Equipment             15,000   Gain on Sale of Equipment               5,000   Cash Received for Issuance of Stock…

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This Information will be used for all questions: Selected Balance Sheet Information     Year 2020   Year 2021 Cash             40,000  ?  Accounts Receivable             10,000             14,000 Prepaid Rent               5,000               6,000 Inventory             35,000             30,000 Accounts Payable               3,000               2,000 Unearned Revenue               5,000               7,000 Income Taxes Payable             14,000             12,000       Other Relevant Information for 2021     Beginning Cash Balance             40,000   Net Income             65,000   Depreciation Expense             40,000   Cash Paid for Dividends             10,000   Cash Received for Loan             40,000   Cash Repaying Loan             10,000   Cash Payment to Purchase Land             12,000   Cash Received for Sale of Equipment             15,000   Gain on Sale of Equipment               5,000   Cash Received for Issuance of Stock…

Please help.

How would you prepare a statement of Cash Flows using the following information? Maple Group Ltd Comparative Balance Sheet December 31, 2020 and 2019   2020 2019  Increase/Decrease       Assets       Cash and cash Equivalent  $   51,500.00  $   45,400.00  $              6,100.00 Accounts Receivable  $   51,100.00  $   61,400.00  $            10,000.00 Inventories  $   61,400.00  $   51,900.00  $              9,500.00 Fixed Assets, net  $ 160,000.00  $ 110,000.00  $            50,000.00 Total Assets  $ 324,000.00  $ 268,700.00  $            55,600.00      Liabilities       Accounts Payable  $   35,450.00  $   27,800.00  $              7,650.00 Accrued liabilities  $   31,000.00  $   37,550.00 -$             6,550.00 Long-term notes payable  $   60,000.00  $   78,540.00 -$           18,540.00      Stockholders Equity:       Common Stock  $ 143,050.00  $ 105,110.00  $            37,940.00 Retained Earnings  $   54,800.00  $   19,700.00  $…

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