00%24StylesEditingAdobe AcrobatParagraphiv. In the following year, an account worth $6,000 is determined to beuncollectible, what is the entry?v. A receivable for $3,500 that was previously written off is collected. What is the2 step entry?= Liabilities+Stockholders'RevenuesExpensesNet IncomeCashAssetsFlowEquity1.2.3.4.5a.5b.DFocusDOAM1.69chinsprt scdeletef12f56)f4I14f391backspace->3.6.6.7.4.5.{[R. 3.Adobe PDFSignaragraphStylesEditingAdobe Acrobatc. Show the impact (with amounts) of each of the following items on the horizontalequation. For the asset section, name the specific accounts impacted.Record Sales during the year on account of $205,000.ii. Show the impact of $190,000 cash collected during the year.!!ii. Establish an Allowance for Uncollectible Accounts at year-end.Study guide - Chapter 5 (with solutions).docxiv. In the following year, an account worth $6,000 is determined to beuncollectible, what is the entry?v. A receivable for $3,500 that was previously written off is collected. What is the2 step entry?AssetsLiabilities+Stockholders'RevenuesExpensesNet IncomeCashEquityD Focus

Accounting Equation The entire assets of an organization are equal to the sum of its liabilities and…

Answered: Show the impact (with amounts) of each…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 6AP

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Click on the icons located on the top-right corners of the data tables below to copy their contents into a spreadsheet. Income Statement Balance Sheet Sales $202,590 Assets Cash and Equivalents Accounts Receivable Costs Except Depreciation $14,950 (99,910) $102,680 EBITDA 1,980 (5,940) $96,740 4,100 $21,030 Depreciation Inventories EBIT Total Current Assets Property, Plant, and Equipment Interest Expense (net) (490) 9,990 Pre-tax Income $96,250 Total Assets $31,020 (33,688) $62,562 Income Tax Liabilities and Equity. Accounts Payable Net Income $1,550 4,080 $5,630 Debt Total Liabilities Stockholders' Equity Total Liabilities and Equity 25,390 $31,020 For the next fiscal year, you forecast net income of $49,600 and ending assets of $508,300. Your firm's payout ratio is 10.6%. Your beginning stockholders' equity is $299,900, and your beginning total liabilities are $120,400. Your non-debt liabilities such as accounts payable are forecasted to increase by $10,400. Assume your beginning…
Using the information provided in RE17-16, prepare the journal entries to record Year 1s (a) construction costs, (b) partial billings, (c) cash collections, and (d) gross profit.
Given the following information, complete the balance sheet shown next Collection period Days' sales in cash Current ratio Assets Current assets: Cash Inventory turnover Liabilities to assets Payables period (All sales are on credit. All calculations assume a 365-day year. The payat Note: Round your answers to the nearest whole dollar. Accounts receivable Inventory Total current assets Net fixed assets Total assets Liabilities and shareholders equity Current liabilities: Accounts payable Short-term debt Total current liabilities 70 days 32 days 2.2 5 70% 36 days Long-term debt Shareholders equity Total liabilities and equity times $ 1,300,000 S S 1,900,000 8,000,000 2.400.000 8.000.000
1. Compute the current assets.Cash Php 25,867.00Barney’s drawing 50,485.00Accounts Payable 78,584.00Notes Receivable 45,051.00Building 1,500,125.00Inventory 33,669.002. Compute the Net Income.Service Income Php 356,867.00Prepaid Rent 16,800.00Interest Expense 1,523.00Barney’s drawing 21,786.00Taxes 4,544.00Utilities Expense 3,651.003. The liabilities of Bb Barn are equal to 1/3 of thetotal assets. The owner's equity is P 6,300,500. Whatis the amount of the liabilities?4. Prepare journal entries to the following transactionsfor the year 2020.Sept. 1 V Barney invested Php 150,000 in Barney repair ShopSept 3 Purchased equipment worth Php 80,000 on account.Sept. 12 Paid Php 25, 000 for the equipmentpurchased dated Sept. 3, 2020.Sept. 15 Rendered service amounting toPhp 45,000.Sept. 17 Paid salaries to employees, Php16,000
The solution must be good in accounting form.
How I can calculate in which year Office Depot has the most financial liquidity using the data
ement. From the following income statement accounts in the popup window, ne income statement for the year. ne operating cash flow for the year. 6 Data Table ne income statement for the year. e income statement below. (Round to the nearest dollar. (Click on the following icon in order to copy its contents into a spreadsheet.) Income Statement Income Statement Accounts for the Year Ending 2017 Year Ending December 31, 2017 Account Cost of goods sold Interest expense Balance $345,000 $82,000 $42,000 $744,000 $66,000 $112.000 Taxes Revenue Selling, general, and administrative expenses Depreciation Print Done income any list or enter any number in the input fields and then continue to the next question. %24 %24 %24 %24
Your email will be recorded when you submit this form * Required Consider the following selected financial information for Green Woods Company. Green Woods Company Income Statement For the Year Ended December 31, 2020 Green Woods Company Balance Sheet For the Year Ended December 31, 2019 & 2020 2020 2019 Assets |Cash Accounts Receivable Inventories Plant & Equipment Less: Accimiulated Depreciation $480 $510 S$90 $960 Revenues S650 7/100 S980 $3140 $2.150 (S1 520)S870) $3.3.40 S3,310 Less: Depreciation expense Less: Other operating expenses Total Assets Liabilities &OE Less: Interest Expense 40 $810 Is17015550 T/S120/S2.80 Income before income taxes INehornts Paable Income Tax Payable Income tax expense $S40 S7100 / SĨ350 Net income Retained FarnenE What is the het dash
I need help to determine the following; 3. For P & B Manufacturing to asses their asset management I need help to calculate the average collection period (assuming all sales are on account) AND the average sale period (use 365 days in a year). Include calculations and round answers to 2 decimal places.
Refer to the 10-K for Abercrombie & Fitch. Required: 1. What does the company report for the following accounts for the most current fiscal year: Enter your answer in thousands. a. Cash b. Short-term investments (or marketable securities) c. Accounts receivable d. Inventory e. Other current assets f. Accounts payable g. Other current liabilities h. Cash flow from operations A A AA A A 好 2. The company projects the following to occur in the next fiscal year: • Accounts payable will decrease by 25%. • Other current liabilities are expected to increase by 33%. • Cash flow from operations is expected to decrease by 32%. Assume all other items remain unchanged from the prior year. Provide the next year's forecasted balances for the following accounts and cash flow from operations.
(Pro forma balance sheet construction) Use the following industry-average ratios to construct a pro forma balance sheet for Karen's Beauty Products, Inc.: Fill in the assets section of the pro forma balance sheet. (Round all items to the nearest dollar.) Cash Accounts receivable Inventories Net fixed assets Total assets Data table (Click on the following icon in order to copy its contents into a spreadsheet.) Total asset turnover 1.5 times Average collection period (assume 365-day year) 14 days Fixed asset turnover 6 times Inventory turnover (based on cost of goods sold) Current ratio 4 times Sales (all on credit) Cost of goods sold Debt ratio 1.9 times $5,000,000 80% of sales 50% -
Please provide a narrative when doing questions 1-4. Thank you.

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