The following account balances were drawn from the Year 1 financial statements of Grayson Company: Accounts payable $ 1,850 Common stock ? $ 3,900 $10,700 $ 7,850 Cash Accounts receivable Land Multiple Choice What is the balance of the Common Stock account? $1,050 $11,600 $8,900 $ 5,600 $ 2,700 $ 9,200 $11,750 Retained earnings, January 1 Revenue Expenses

Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $395,200 $324,000 Marketable securities 457,600 364,500 Accounts and notes receivable (net) 187,200 121,500 Inventories 617,800 411,800 Prepaid expenses 318,200 263,200 Total current assets $1,976,000 $1,485,000 Current liabilities: Accounts and notes payable (short-term) $301,600 $315,000 Accrued liabilities 218,400 135,000 Total current liabilities $520,000 $450,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital %24 2. Current ratio 3. Quick ratio

Complete the following balance sheet based on the information provided ASSETS LIABILITIES & SHAREHOLDERS' EQUITY %$4 Question 2 Accounts payable Cash $63,000 Common stock Accounts receivable %$4 Retained earnings %24 Inventory %24 Plant and equipment, net $56,000 Total liabilities and s135,000 $135,000 Total assets shareholders' equity The values of selected ratios are as follows: Quick ratio 1.40 Average collection period Debt ratio 38 days 0.38 (Asset) Turnover ratio [Answer: Cash = 37,386, AR = 34,434, Inventory = 7,180, AP = 51,300, RE = 20,700] 2.45 %3D %3D %3D %3D

Prior Year Current Year Accounts payable 3,153.00 5,915.00 Accounts receivable 6,935.00 9,046.00 Accruals 5,794.00 6,085.00 Additional paid in capital 19,655.00 13,876.00 Cash. ??? ??? Common Stock 2,850 2,850 COGS 22,169.00 18,794.00 Current portion long-term debt 500 500 Depreciation expense 1,016.00 1,037.00 Interest expense 1,276.00 1,138.00 Inventories 3,041.00 6,672.00 Long-term debt 16,904.00 22,546.00 Net fixed assets 75,987.00 73,861.00 Notes payable 4,002.00 6,534.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,536.00 34,724.00 Sales 46,360 45,799.00 Taxes 350 920 Category ww What is the firm's total change in cash from the prior year to the current year?

Determining Retained Earnings and Net Income The following information appears in the records of Bock Corporation at year-end: Accounts Receivable $23,000 Retained Earnings ? Accounts Payable 00 Supplies Cash Common Stock 110,000 9,000 8,000 Equipment, net 154,000 a. Calculate the balance in Retained Earnings at year-end $ 0 b. If the amount of the retained earnings at the beginning of the year was $30,000 and $12,000 in dividends is paid during the year, calculate net income for the year. $42,000

Current Position Analysis The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years:   Current Year   Previous Year Current assets:             Cash $486,400     $392,000     Marketable securities 563,200     441,000     Accounts and notes receivable (net) 230,400     147,000     Inventories 792,000     469,700     Prepaid expenses 408,000     300,300       Total current assets $2,480,000     $1,750,000   Current liabilities:             Accounts and notes payable           (short-term) $464,000     $490,000     Accrued liabilities 336,000     210,000       Total current liabilities $800,000     $700,000   a.  Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.       Current Year     Previous Year 1.  Working capital $fill in the blank 1 $fill in the blank 2 2.  Current ratio fill in the blank 3 fill in the blank 4…

Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Current Year Prior Year Accounts payable $618,000 $300,000 Current maturities of serial bonds payable 550,000 550,000 Serial bonds payable, 10% 2,480,000 3,030,000 Common stock, $1 par value 90,000 120,000 Paid-in capital in excess of par 1,000,000 1,010,000 Retained earnings 3,470,000 2,750,000 The income before income tax expense was $757,500 and $662,800 for the current and prior years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year fill in the blank 1 Prior year fill in the blank 2 b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year fill in the blank 3 Prior year fill in the blank 4 c. The ratio of liabilities to stockholders' equity have improved and the…

Income Statement, Statement of stockholders’ equity, and Balance Sheet Viva Travel Service reported assets, liabilities, revenues and expenses for September 30, 20Y6 below. As of October 1, 20Y5, the beginning of the current year, Viva Travel Service reported retained earnings as $60,900, and common stock as $7,500. During the current year, dividends in the amount of $28,600 were paid. Accounts payable $22,290 Accounts receivable 134,312 Common stock 15,000 Cash 240,858 Fees earned 801,300 Miscellaneous expense 6,230 Rent expense 103,770 Supplies 10,380 Supplies expense 16,600 Utilities expense 62,260 Wages expense 296,480 Instructions:   Question Content Area 1.  Prepare an income statement for the current year ended September 30, 20Y6. Viva Travel ServiceIncome StatementFor the Year Ended September 30, 20Y6     $- Select - Operating expenses:       $- Select -     - Select -     - Select -     - Select -     - Select -…

Presented below are data for Caracas Corp. Assets, January 1 Liabilities, January 1 Stockholders' Equity, Jan. 11 Dividends Common Stock Stockholders' Equity, Dec. 31 Net Income Net income for 2012 is $684 income. $684 loss. $38 income. $38 loss. 2010 $3,800 2,280 ? 760 684 ? 760 2011 $4,560 ? ? 570 608 ? 684 2012 ? $2,736 2,850 646 650 2,166 ?

Statement of stockholders’ equity; net loss Selected accounts from the ledger of Restoration Arts for the fiscal year ended April 30, 20Y5, are as follows: Common Stock     May 1 (20Y4) 10,000     July 1 7,500   Retained Earnings   Dividends Apr. 30 31,200 May 1 (20Y4) 475,500   July 31 (20Y4) 1,250 Apr. 30 5,000 Apr. 30 5,000       Oct. 31 1,250               Jan. 31 1,250               Apr. 30 (20Y4) 1,250     Prepare a statement of stockholders’ equity for the year ended April 30, 20Y5. Restoration Arts Statement of Stockholders’ Equity For the Year Ended April 30, 20Y5   Common Stock Retained Earnings Total   $ $ $                           $ $ $