The following data were taken from the comparative balance sheet of Osborn Sisters Company for the years ended December 31, 20Y9 and December 31, 20Y8: Dec. 31, 20Y9 Dec. 31, 20Y8 Cash $295,200 $218,900 Temporary investments 315,000 239,800 Accounts and notes receivable (net) 289,800 261,300 Inventories 405,000 324,000 Prepaid expenses 345,000 126,000 Total current assets $1,650,000 $1,170,000 Accounts payable $290,000 $315,000 Accrued liabilities 210,000 135,000 Total current liabilities $500,000 $450,000
Q: Use the information below for Harding Company to answer the question that follow. Harding Company…
A: Current assets means those assets which are convertible in to cash with 12 months. Long term…
Q: Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating…
A: Cash Flow Statement: Cash Flow Statement is a fundamental financial statement that renders valuable…
Q: The following items are reported on a company's balance sheet: Cash $248,600 Marketable securities…
A: Current Ratio and Quick Ratio are the liquidity ratios which test if the company is in liquid state…
Q: I am not sure where to start with this problem and I'm having trouble figuring out what to do
A: Cash Flow Statement: It is a financial statement prepared by the company to report the inflow and…
Q: The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as…
A: Cash flow statement provided information about the cash inflows and cash outflows of the…
Q: The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as…
A: Cash flow is one of the main parts of a financial statement. The income statement and balance sheet…
Q: The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as…
A: Working: 1) Loss on sale of investment Amount ($) Opening balance 121,590 (-)Sale value…
Q: The following data were taken from the comparative balance sheet of Osborn Sisters Company for the…
A: Working Capital = Current Assets - Current Liabilities Current Ratio = Current Assets/ Current…
Q: The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as…
A: Given the information, the Statement of Cash Flows has been prepared in the next step. General…
Q: Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows:…
A: Introduction: Operating activities: Cash used for maintaining the day to day business activities all…
Q: Current Position Analysis The following data were taken from the comparative balance sheet of…
A: The ratio analysis helps to analyse the financial statements of the business.
Q: The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as…
A: Cash flow statements are the statements that determine the inflow and outflow of cash from three…
Q: The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as…
A: Cash flows from operating activities: It is a section of the Statement of cash flow that explains…
Q: The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows:…
A: Statement of cash flows: It is one of the financial statements that show the cash and cash…
Q: [The following information applies to the questions displayed below.) Simon Company's year-end…
A: Inventory Turnover Ratio: It shows how effectively inventory is managed by comparing the cost of…
Q: What would be Asset turnover, turn on total assets, the dividen yield, return on common stockholders…
A:
Q: The comparative balance sheet of Iglesias Inc. for December 31, 20Y3 and 20Y2, is shown as follows:…
A: Cash flow statement: It is a financial statement that record the cash related transactions to…
Q: The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows:…
A: In the above question we have asked to prepare Cash flow statement of Navaria Inc. from indirect…
Q: The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: 1…
A: Financial statements are the year-end financial reports that are used to indicate the financial…
Q: The following items are reported on a company's balance sheet: Cash $270,600 Marketable securities…
A: Cash 270600 Marketable securities 83600 Account receivable 263100 Inventory 211800 Total…
Q: The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as…
A: Cash Flow Statement : It is the statement that indicates the net balance from the cash inflows and…
Q: The comparative balance sheet of Coulson, Inc. at December 31, 20Y2 and 20Y1, is as follows:…
A: Statement of cash flows provides information regarding the cash receipts and cash payments made by…
Q: The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as…
A: Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…
Q: [The following information applies to the questions displayed below.) Simon Company's year-end…
A:
Q: The following balance sheet is for X Company: Balance Sheet January 1, 2021 Assets Equities Cash…
A: Solution: Ending Total assets = Beginning Total assets + Increase in assets during the year -…
Q: The comparative balance sheet of Iglesias Inc. for December 31, 20Y3 and 20Y2, is shown as follows:…
A: Statement of cash flows: It is a financial statement that shows the increase or decrease in the cash…
Q: The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as…
A: Working: 1. Cash Dividend paid = Beginning retained earnings + Net Income - Ending retained…
Q: The following data are taken from the financial statements of Blossom Company as of ta alphabetical…
A: a) Current Ratio=Current AssetsCurrent Liabilities Current Assets = Account Receivable + Cash…
Q: The comparative balance sheet of Orange Angel Enterprises Inc. at December 31, 20Y8 and 20Y7, is as…
A:
Q: Based on the following data for Privett Company, what is the amount of quick assets? Privett…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: (answer to Quick Ratio) The following data were taken from the comparative balance sheet of Osborn…
A: Working Capital = Current Assets - Current Liabilities Current Ratio = Current Assets/ Current…
Q: The following items are reported on a company's balance sheet: Cash $579,700 Marketable…
A: The current ratio refers to liquidity ratio which tries to measure whether an organization has…
Q: Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio.…
A: WORKING CAPITAL RATIO = CURRENT ASSET -CURRENT LIABILITES CURRENT YEAR: 2,400,000 - 800,000 =…
Q: Use the following comparative balance sheets and additional information to answer questions (1)…
A: 1)Calculation of loss on sale of assets:
Q: Refer to the following selected financial information from McCormik, LLC. Compute the company's…
A: Formula: Accounts receivable Turnover = Net sales / Average Accounts receivable Average Accounts…
Q: The comparative balance sheet of Coulson, Inc. at December 31, 20Y2 and 20Y1, is asfollows:Dec. 31,…
A: Working note:Prepare the schedule in the changes of current assets and liabilities.
Q: The following data were taken from the comparative balance sheet of Osborn Sisters Company for the…
A: Formula: Working capital = Current assets - current liabilities. Current ratio = Current Assets /…
Q: The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as…
A: The three types of activities presented on the statement of cash flows: Operating Investing…
Q: The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent…
A: Formulas: Current ratio = Current assets / Current liabilities
Q: The comparative balance sheet of Harris Industries Inc. at December 31, 20Y4 and 20Y3, is as…
A: A cash flow statement forms a part of financial statements of the company and is prepared to shows…
Q: The following items are reported on a company's balance sheet: Cash $227,700 Marketable securities…
A: Current assets = Cash + Marketable securities + Accounts receivable + Inventory =…
Q: The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows:…
A:
Q: The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as…
A: A cash flow statement indicates cash inflow and cash outflow information of a particular time…
Q: The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows:Dec. 31,…
A: Working note:Prepare the schedule in the changes of current assets and liabilities.
Q: The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as…
A: The cash flows statement shows the cash inflows and cash outflows of the organization. Cash flows…
Q: Use the following comparative balance sheets and additional information to answer questions (1)…
A: The cash flow statements are part of the financial statement of the organization. It describes the…
Q: The following items are reported on a company's balance sheet:
A: The current ratio is a liquidity ratio that measures a firm's ability to pay off its current…
Q: The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as…
A: Statement of cash flows: It is one of the financial statement that shows the cash and cash…
Q: The following data were taken from the balance sheet of the Sandy Koufax Company at the end of the…
A: 1.Working Capital = Current Assets - Current Liabilities 2. Current Ratio = Current assets /…
Q: The following information pertains to Diane Company. Assume that all balance sheet amounts represent…
A: Return on total assets = Net income / Average Total assets
The following data were taken from the comparative balance sheet of Osborn Sisters Company for the years ended December 31, 20Y9 and December 31, 20Y8:
Dec. 31, 20Y9 | Dec. 31, 20Y8 | |||||
Cash | $295,200 | $218,900 | ||||
Temporary investments | 315,000 | 239,800 | ||||
Accounts and notes receivable (net) | 289,800 | 261,300 | ||||
Inventories | 405,000 | 324,000 | ||||
Prepaid expenses | 345,000 | 126,000 | ||||
Total current assets | $1,650,000 | $1,170,000 | ||||
Accounts payable | $290,000 | $315,000 | ||||
Accrued liabilities | 210,000 | 135,000 | ||||
Total current liabilities | $500,000 | $450,000 |
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.): Current Ratio ? times…Current Position Analysis The following data were taken from the comparative balance sheet of Osborn Sisters Company for the years ended December 31, 20Y9 and December 31, 20Y8: Dec. 31, 20Y9 Dec. 31, 20Y8 Cash $361,500 $268,700 Temporary investments 385,700 294,400 Accounts and notes receivable (net) 354,800 320,900 Inventories 495,900 397,800 Prepaid expenses 374,100 122,200 Total current assets $1,972,000 $1,404,000 Accounts payable $336,400 $364,000 Accrued liabilities 243,600 156,000 Total current liabilities $580,000 $520,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. 20Y9 20Υ8 Working capital $ 2$ Current ratio Quick ratioE9-6 Current Position Analysis Obj. 3 .................. The following data were taken from the comparative balance sheet of Icon Living, Inc., for the years ended December 31, 20Y9 and December 31, 20Y8: Cash Temporary investments Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Accounts payable Accrued liabilities Total current liabilities ▸ Details Dec. 31, 20Y9 $ 75,000 125,000 250,000 425,000 25,000 $ 900,000 $ 350,000 25,000 $ 375,000 Dec. 31, 2018 $ 50,000 75,000 200,000 305,000 20,000 $ 650,000 $ 230,000 20,000 $ 250,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. b. What conclusions can be drawn from these data?
- 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 Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities. $620,500 718,500 294,000 749,800 386,200 $2,769,000 1. Working capital 2. Current ratio 3. Quick ratio b. The liquidity of Albertini has in current assets relative to current liabilities. $411,800 298,200 $710,000 $496,000 558,000 186,000 529,500 338,500 $2,108,000 $434,000 186,000 $620,000 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 from the preceding year to the current year. The working capital, current ratio, and quick ratio have all Most of these changes are the result of anSelected financial data for Wilmington Corporation is presented below. WILMINGTON CORPORATION Balance Sheet Dec. 31, Year 7 Dec. 31, Year 6 Current Assets Cash and cash equivalents $519,159 $274,579 Marketable securities 166,106 187,064 Accounts receivable (net) 232,548 260,190 Inventories 382,044 352,022 Prepaid expenses 49,832 22,958 Other current assets 83,053 85,029 Total Current Assets 1,432,742 1,181,842 Property, plant and equipment 1,384,217 625,421 Long-term investment 568,003 425,000 Total Assets $3,384,962 $2,232,263 Current Liabilities Short-term borrowings $306,376 $170,419 Current portion of long-term debt 155,000 168,000 Accounts payable 228,700 257,631 Accrued liabilities 246,292 150,285 Income taxes payable 87,962 161,020 Total Current Liabilities 1,024,330 907,355 Long-term debt 500,000 300,000 Deferred income taxes 193,515 236,164 Total Liabilities 1,717,845 1,443,519 Common stock $425,250…Current Attempt in Progress XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g.…
- Lory Group (Financial ratios) (amounts in millions): A skeleton of Lory Group's financial statements (i.e., Statement of financial position and Statement of profit or loss) for the year ending on 31 December 20X9, appears as follows Statement of financial position Inventories Trade receivables Cash and cash equivalents Current assets Non-current assets Total assets Share capital Reserves Retained earnings Equity Trade payables Long-term liabilities Equity and liabilities Statement of profit or loss Net sales Cost of sales Administrative expenses Interest expense Profit before taxes Income tax expense Profit for the year 9 h -9.533 i 17.566 j k a 3.026 7.196 b C d 63.574 22.023 39.066 124.663 34.998 e f Required: Use the following ratio data to complete Lory Group's financial statements: Return on equity = 0.1347 Total asset turnover = 0.5427 Net operating margin = 0.164135 Current ratio = 0.3554 Acid test ratio = 0.29207 Inventory turnover = 48.2942 Gearing (total finance) = 0.4383The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities 1. Working capital 2. Current ratio 3. Quick ratio Current Year Current Year $347,700 402,600 164,700 603,900 311,100 $1,830,000 $353,800 256,200 $610,000 Previous Year $254,400 286,200 95,400 420,300 268,700 $1,325,000 Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. $371,000 159,000 $530,000 Previous YearSelected financial data for Wilmington Corporation is presented below. WILMINGTON CORPORATION Balance Sheet Dec. 31, Year 7 Dec. 31, Year 6 Current Assets Cash and cash equivalents $576,843 $305,088 Marketable securities 166,106 187,064 Accounts receivable (net) 258,387 289,100 Inventories 424,493 391,135 Prepaid expenses 55,369 25,509 Other current assets 83,053 85,029 Total Current Assets 1,564,251 1,282,925 Property, plant and equipment 1,384,217 625,421 Long-term investment 568,003 425,000 Total Assets $3,516,471 $2,333,346 Current Liabilities Short-term borrowings $306,376 $170,419 Current portion of long-term debt 155,000 168,000 Accounts payable 254,111 286,257 Accrued liabilities 273,658 166,983 Income taxes payable 97,735 178,911 Total Current Liabilities 1,086,880 970,570 Long-term debt 500,000 300,000 Deferred income taxes 215,017 262,404 Total Liabilities 1,801,897 1,532,974 Common stock $425,250…
- The following information is available from the annualreport of Frixell, Inc.: Currentliabilities . . . . $300,000Operatingincome . . . . . 240,000Net income . . . . 80,000 Currentassets . . . . $ 480,000Average totalassets . . . . 2,000,000Average totalequity . . . . 800,000Which of the following statements are correct? (More thanone statement may be correct.)a. The return on equity exceeds the return on assets.b. The current ratio is 0.625 to 1.Ratio AnalysisPresented below are summary financial data from Pompeo’s annual report: Amounts in millions Balance Sheet Cash and Cash Equivalents $1,865 Marketable Securities 19,100 Accounts Receivable (net) 9,367 Total Current Assets 39,088 Total Assets 123,078 Current Liabilities 39,255 Long-Term Debt 7,279 Shareholders’ Equity 68,278 Income Statement Interest Expense 375 Net Income Before Taxes 14,007 Calculate the following ratios:(Round to 2 decimal points) a. Times-interest-earned ratio Answer b. Quick ratio Answer c. Current ratio Answer PreviousSave AnswersNextThe following information pertains to Cachet Company. Assume that allBalance sheet amounts represent both average and ending balance figures.Assume that all sales were on credit.AssetsCash and short-term investments P 40,000Accounts receivable (net) 30,000Inventory 25,000Property, plant and equipment 215,000Total Assets P310, 000Liabilities and Stockholders’ EquityCurrent liabilities P 60,000Long-term liabilities 95,000Stockholders’ equity—common 55,000Total Liabilities and Stockholders’ Equity P310, 000Income StatementSales P 90,000Cost of goods sold 45,000Gross margin 45,000Operating expenses 20,000Net income P 25,000Number of shares of common stock 6,000Market price of common stock P20Dividends per share P1.00What is the price-earnings ratio for this company?A. 6 timesB. 4.2 timesC. 8 times D. 4.8 times Can you please give me a coherent solution for this?