FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Use the following data to determine the total dollar amount of assets to be classified as current assets. Metlock, Inc. Balance Sheet December 31, 2022 Cash $188000 Accounts payable $205000 Accounts receivable 151000 Salaries and wages payable 28000 Inventory 171000 Mortgage payable 232000 Prepaid insurance 91900 Total liabilities $465000 Stock investments (long-term) 251000 Land 260000 Buildings $308000 Common stock $377900 Less: Accumulated (62500) 245500 Retained earnings 732500 depreciation Total stockholders' Goodwill 217000 $1110400 equity Total liabilities and Total assets $1575400 $1575400 stockholders' equity O $430900 O $852900 O $601900 O $510000arrow_forwardFind return on assets and return on equity ratios for year 2017, 2018, and 2019.arrow_forwardPrepare a vertical analysis of the balance sheets for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your percentage answers to 2 decimal places. (i.e., 0.2345 should be entered as 23.45).) Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total long-term assets Total assets Liabilities and stockholders' equity Lishilitinn WALTON COMPANY Vertical Analysis of Balance Sheets Year 4 $ Amount 17,800 21,300 55,100 136,900 25,700 256,800 27,600 270,600 30,300 328,500 585,300 Percentage of Total % $ $ Amount Year 3 13,700 6,800 47,500 144,700 10,500 223,200 21,100 256,000 24,900 302,000 525,200 Percentage of Total %arrow_forward
- Do not give image formatarrow_forwardThe balance sheets for Fantasy Football for 2024 and 2023 are provided below. 2. Prepare a horizontal analysis of Fantasy Football’s 2024 balance sheet using 2023 as the base year. (Values to be deducted and decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)arrow_forwardA) Prepare the 2024 combined common-size, common-base year balance sheet. B) Calculate the following financial ratios for each year. Comment on each ratio and interpret the changes from 2023 to 2024. A. Current ratio B. debt to equity ratio C. total asset turnover D. ROE C) Use the DuPont analysis on each year and interpret your results.arrow_forward
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