The liabilities and owners’ equity for Campbell Industries is found here. What percentage of the firm’s assets does the firm now finance using debt (liabilities)? If Campbell were to purchase a new warehouse for $1.4 million and finance it entirely with long-term debt, what would be the firm’s new debt ratio?
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- The liabilities and owners’ equity for Campbell Industries is found here.
- What percentage of the firm’s assets does the firm now finance using debt (liabilities)?
- If Campbell were to purchase a new warehouse for $1.4 million and finance it entirely with long-term debt, what would be the firm’s new debt ratio?
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- Using the stylized balance sheet below, please 1) finish the balance sheet, and 2) use that information to answer the following question, entering your answer in the place provided. Avg. Avg. Amount Amount Interest Interest Demand Vault Cash $1,573 $1,123 Deposits US Treas. Savings 3.43% 2,212 3.02% 8,497 Securities Deposits Consumer/Bus. 8.23% 15,315 CD's 3.54% ???? Loans Mortgage 6.82% 8,719 Borrowings 3.10% 2,747 Loans Property 2,032 Equity 3,423 Equipment Total Liab.& Total Assets ???? ???? Equity What is the net interest income the this bank? (Please enter the answer to the nearest penny!) ed 39,211.64 ver 1,091.41 margin of error +/- 1Using the stylized balance sheet below, please 1) finish the balance sheet, and 2) use that information to answer the following question, entering your answer in the place provided. Avg. Interest Avg. Amount Amount Interest Demand Vault Cash $577 $5,650 Deposits US Treas. Savings 4.85% 2,139 1.99% 6,622 Securities Deposits W Consumer/Bus. 6.94% 15,835 CD's 4.76% ???? Loans Mortgage 7.54% 10,410 Borrowings 4.34% 2,766 Loans Property Equipment Total Assets 740 Equity Total Liab.& ???? Equity 2,741 ???? What is the net interest margin the this bank? (Please enter the answer without the % sign - so for instance is the answer is 5.67%, then enter just 5.67)TB Problem 7-170 (Algo) Cordova, Incorporated, reported the following... Cordova, Incorporated, reported the following receivables in its December 31, 2023, year-end balance sheet: Current assets: Accounts receivable, net of $50,000 in allowance for uncollectible accounts Interest receivable Notes receivable Additional information: 1. The notes receivable account consists of two notes, a $100,000 note and a $280,000 note. The $100,000 note is dated October 31, 2023, with principal and interest payable on October 31, 2024. The $280,000 note is dated March 31, 2023, with principal and 8% interest payable on March 31, 2024. 2. During 2024, sales revenue totaled $2,100,000, $1,960,000 cash was collected from customers, and $39,000 in accounts receivable were written off. All sales are made on a credit basis. Bad debt expense is recorded at year-end by adjusting the allowance account to an amount equal to 8% of year-end gross accounts receivable. Required: 1. In addition to sales revenue,…
- oft WE ivable/Notes Payable X b JOURNAL ENTRIES (NOTE ISSUEL X + moodle.cw.edu/mod/quiz/attempt.php?attempt3=56737&cmid%3733537 Graphics has the following notes payable transactions. Record these transactions in eneral journal. July 5lssued a $3,500 note to Roma Ceramic Inc. The 10%, 60-day note is in full payment of an account payable. 9Borrowed $5,000 from the bank sighing a 6%, 90-day note. 11Paid $500 cash and issued a $2,000, 8% 30-day note to Design Center in payment of an account payable. Aug. 5Borrowed $3,600 for 30 days from the bank on a non-interest-bearing note. The discount rate is 10%. Sept. 3Paid the principal and interest due on the $3,500 note to Roma Ceramic Inc. Oct. 3Paid the interest due on the $5,000 note to the bank and renewed the principal for 30 days at 7%. GENERAL JOURNAL Page 1 Post Date Description Ref. Debit Credit because we are The Colle 10mdio playyastermediate Accounting 1.docx Open with Google Docs For Nos. 20-21 Nabangst Corporation reported the following recelvables on December 31, 2018: Accounts recelvable, net of P520,000 allowance for doubtful accounts Interest receivable P3,840,000 190,000 4,000,000 Notes receivable Additional Information: The notes recelvable comprised of the following: P3,000,000 note dated March 31, 2018, with principal and 8% interest payable on March 31, 2019. P1,000,000 note dated October 31, 2018, with principal and interest payable on October 31, 2019. During 2019, sales revenue totaled P21,200,000, cash collected from customers amounted to P19,800,000, and P410,000 in accounts receivable were written off. All sales are made on credit basis. Doubtful accounts expense is recorded at year-end by adjusting the allowance account to an amount equal to 10% of year-end accounts receivable. 20. What amount should be reported as interest income for 2019? P240,000 d. P110,000 a. P80,000 C. b. P60,000 21. What…! Required information [The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of 3D Family Fireworks includes the following account balances: Accounts Cash Debit Credit $25,300 Accounts Receivable 14,300 Allowance for Uncollectible Accounts $1,600 Supplies 3,200 Notes Receivable (6%, due in 2 years) 27,000 Land 77,700 Accounts Payable 9,800 103,000 33,100 $147,500 $147,500 Common Stock Retained Earnings Totals During January 2024, the following transactions occur: January 2 Provide services to customers for cash, $42,100. Write off accounts receivable as uncollectible, $1,800. (Assume the company uses the allowance method) Pay cash for salaries, $32,100. January 6 Provide services to customers on account, $79,400. January 15 January 20 January 22 Receive cash on accounts receivable, $77,000. January 25 Pay cash on accounts payable, $6,200. January 30 Pay cash for utilities during January, $14,400. 3. Prepare an adjusted trial…
- Fill in the entries in the following T-accounts when central bank sells TL 100.000 of government bonds to Halkbank Assets Halkbank Liabilities Central Bank Assets LiabilitiesLincraft Corp. reports a current ratio of 3-to-1 in its 20X2 financial statements. The statement of financial position shows current assets of $3,140,500 and current liabilities of $1,064,100. Lincraft has accounts receivable of $1,299,300. The company transfers $1,002,000 of these accounts receivable to a financial institution. There are $35,200 of bad debts associated with these accounts receivable, an amount that is already in the allowance for doubtful accounts. Proceeds of $898,250 are received from the transfer. The transfer is on a non-notification basis, which means that the customers pay Lincraft and Lincraft then remit the cash to the financial institution. The customers pay $946,000 to Lincraft on schedule, $35,200 is written off to the allowance at the appropriate time, and the cash remittance is forwarded to the financial institution. Required: 1. Record all journal entries for the sequence of events assuming: a. The transfer is recorded as a sale/derecognition. (If no…Based on this financial data, calculate the Savings Ratio. $7470 Net Worth Liquid Assets $ 4610 Monthly Credit Payments $720 Monthly Savings $ 640 Gross Income Make sure to include zeros and round your answer to 2 decimal places. i.e. 3.55, 1.89, 1.02, 0.09, etc. Do not include a comma or"$" sign in your response. Liabilities Current Liabilities Take-home Pay $ 77300 $2000 $ 3150 $ 4890
- engageNOWv2 | Online teachir X * CengageNOWv2| Online teachir x .com/ilrm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre. * A eBook Show Me How Accounts Receivable Analysis A company reports the following: Sales $671,600 Average accounts receivable (net) 67,160 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days Previous Next Check My Work 11:16 AM 67°F Sunny A O E D a ) 12/3/2021 n sc hone backsocePrepare a balance sheet, assuming that the current portion of the note payable is $7,000Create a balance sheet with the following information. Create a balance sheet for the following information. Bank Accoutns recievable Equipement Accounts payable Long-term debt Capital Retained earning Withdrawis msi in ^ 00 C 4 I P JOOOOL K V B m 2050 6100 900 150 2000 5000 10900 9000 0 ALTOR in