Use the starting balance sheet, income statement, and the list of changes to answer the question. Cash Other Assets Total Assets Revenue Expenses Net Income Siam Traders Balance Sheet As of December 31, 2022 (amounts in thousands) 38,000 Liabilities 25,000 Equity 63,000 Total Liabilities & Equity Siam Traders Income Statement January 1 to March 31, 2023 (amounts in thousands) 6,700 4,200 2,500 21,000 42,000 63,000 Between January 1 and March 31, 2023: 1. Cash decreases by $200,000 2. Other Assets increase by $300,000 3. Paid-In Capital does not change 4. Dividends paid of $300,000 What is the value for Liabilities on March 31, 2023? Note: Account change amounts are provided in dollars but the financial statement units are thousands of dollars. Please specify your answer in the same units as the financial statements (i.e., enter the number from your updated balance sheet)

Use the starting balance sheet, income statement, and the list of changes to answer the question. Cash Other Assets Total Assets Revenue Expenses Net Income Siam Traders Balance Sheet As of December 31, 2022 (amounts in thousands) 38,000 Liabilities 25,000 Equity 63,000 Total Liabilities & Equity Siam Traders Income Statement January 1 to March 31, 2023 (amounts in thousands) 6,700 4,200 2,500 21,000 42,000 63,000 Between January 1 and March 31, 2023: 1. Cash decreases by $200,000 2. Other Assets increase by $300,000 3. Paid-In Capital does not change 4. Dividends paid of $300,000 What is the value for Liabilities on March 31, 2023? Note: Account change amounts are provided in dollars but the financial statement units are thousands of dollars. Please specify your answer in the same units as the financial statements (i.e., enter the number from your updated balance sheet)

Name: Use the starting balance sheet, income statement, and the list of cha
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Use the starting balance sheet, income statement, and the list of changes to answer the question.Siam TradersBalance SheetAs of December 31, 2022(amounts in thousands)38,000 LiabilitiesCashOther AssetsTotal AssetsRevenueExpensesNet Income25,000 Equi

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23A: Statement Of Cash Flows: The Direct Method

Section: Chapter Questions

Problem 2RQ

See similar textbooks

Similar questions

Perform a horizontal analysis providing both the amount and percentage change. (Round your Percentage answers to 1 decimal place. Decreases should be indicated by a minus sign.) Year 2021 2020 Cash $ 420,000 $ 1,050,000 Accounts receivable 660,000 300,000 Inventory 1,020,000 925,000 Long-term assets 3,900,000 2,725,000 Total assets $ 6,000,000 $ 5,000,000
Compute the annual dollar changes and percent changes for each of the following accounts. (Decreases should be indicated with a minus sign. Round percent change to one decimal place.) Current Year Prior Year Short-term investments $374,634 $234,000 101,e00 88,000 Accounts receivable 97,364 Notes payable Horizontal Analysis - Calculation of Percent Change Choose Numerator: Choose Denominator: Percent change = Current Year Prior Year Dollar Change Percent Change Short-term investments 24 374,634 $ 234,000 Accounts receivable 97,364 101,000 Notes payable 88,000
Required information Use the following information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below.] Cash Accounts receivable Equipment, net Land Total assets Percent change = Compute the annual dollar changes and percent changes for each of the following items. (Decreases should be entered with a minus sign. Round your percentage answers to one decimal place.) Cash Accounts receivable Equipment, net Land Total assets $ Current Year $ 12,200 63,000 62,000 100,500 $ 237,700 $ Prior Year $ 15,400 28,700 54,400 75,000 $ 173,500 Horizontal Analysis - Calculation of Percent Change Numerator: Current Year Prior Year 12,200 $ 15,400 63,000 28,700 62,000 54,400 100,500 75,000 237,700 $ 173,500 Denominator: Dollar Change Percent Change % % % % %
Can you show me how to solve? Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands). 2022 2021 Cash $13,900 $9,900 Accounts receivable 23,300 19,900 Inventory 31,400 30,800 Other current assets 12,500 11,909 Total current assets $81,100 $72,509 Total current liabilities $252,500 $311,100 Compute the current ratio for each year. (Round answers to 2 decimal places, e.g. 2.12.) 2022 2021 Current ratio: enter the current ratio for year 2017 rounded to 2 demical places :1 enter the current ratio for year 2016 rounded to 2 demical places :1
h. Assume that accounts receivable at December 31, 2020, totaled $310 million. Calculate the number of days' sales in receivables at that date. (Use 365 days a year. Do not round intermediate calculations. Round your answer to 1 decimal place.) WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions) 2020 2019 2018 Current assets $ 650 $ 900 $ 700 Other assets 2,750 2,050 1,750 Total assets $ 3,400 $ 2,950 $ 2,450 Current liabilities $ 500 $ 800 $ 700 Long-term liabilities 1,500 1,000 800 Stockholders' equity 1,400 1,150 950 Total liabilities and stockholders' equity $ 3,400 $ 2,950 $ 2,450 WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions) 2020 2019 Income statement data: Sales $ 3,300 $ 2,900 Operating income 380 300 Interest expense 80 70 Net income…
Compute the annual dollar changes and percent changes for each of the following items. Note: Decreases should be entered with a minus sign. Cash Accounts receivable Equipment, net Land Total assets Percent change = Cash Accounts receivable Equipment, net Land Total assets $ Current Year $ 7,720 $ 56,100 46,800 93,360 $ 203,980 Choose Numerator: Horizontal Analysis - Calculation of Percent Change Prior Year $ 8,560 19,400 42,100 66,700 $ 136,760 Current Year Prior Year 7,720 $ 8,560 19,400 56,100 46,800 42,100 93,360 66,700 203,980 $ 136,760 Choose Denominator: Dollar Change Percent Change % % % % %
Required information [The following information applies to the questions displayed below.] Cash Accounts receivable Equipment, net Land Total assets Percent change = Compute the annual dollar changes and percent changes for each of the following items. (Decreases should be entered with a minus sign. Round your percentage answers to one decimal place.) Cash Accounts receivable Equipment, net Land Total assets $ Current Year Prior Year $ 10,400 60,500 57,000 98,000 $ 225,900 $ $ 13,400 25,800 50,400 72,500 $ 162, 100 Horizontal Analysis - Calculation of Percent Change 1 Numerator: Current Year 1 Prior Year $ 10,400 13,400 60,500 25,800 57,000 50,400 98,000 72,500 225,900 $ 162,100 Denominator: Dollar Change Percent Change % % % %
The data listed below are taken from a balance sheet of Trident Corporation at December 31, 2018. Someamounts, indicated by question marks, have been intentionally omitted.($ in thousands)Cash and cash equivalents $ 239,186Short-term investments 353,700Accounts receivable (net of allowance) 504,944Inventories ?Prepaid expenses (current) 83,259Total current assets 1,594,927Long-term receivables 110,800Property and equipment (net) ?Total assets ?Notes payable and short-term debt 31,116Accounts payable ?Accrued liabilities 421,772Other current liabilities 181,604Total current liabilities 693,564Long-term debt and deferred taxes ?Total liabilities 956,140Shareholders’ equity 1,370,627Required:1. Determine the missing amounts.2. Prepare Trident’s classified balance sheet.
Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands). Cash Accounts receivable Inventory Other current assets Total current assets Total current liabilities 2022 Current ratio $13,057 25,199 29,385 19,579 $87,220 $249,200 2021 2022 $8,124 19,231 31,244 10,746 Compute the current ratio for each year. (Round answers to 2 decimal places, e.g. 2.12.) $69,345 $301,500 :1 2021 :1
Required: Statement of financial position as at December 31, 2020. Relevant information are as follows:1) Dividends of 5% were declared on June 30 and on December 31, 2020.2) All depreciable assets should be depreciated at 10% per year.3) Doubtful accounts are estimated to be 5% of year-end accounts receivable. The accounts receivable totaled P200,000on December 31, 2020.4) Cash receipts for 2020 are summarized as follows:Advances from customers P 70,000Cash sales and collections from accounts receivable 2,960,000Sales of equipment on December 31, 2020 costingP50,000 on which P30,000 of depreciationhad been accumulated 45,000P3,075,0005) Cash disbursements for 2020 are summarized as follows:Insurance premium P 80,000Purchase of equipment on October 1 200,000Cash purchases and payments on accounts payable 1,640,000Salaries 390,000Dividends paid 125,000Other expenses 135,000P2,570,0006) Additional data on December 31, 2020 are as follows:Inventory P245,000Prepaid insurance…
What is the IRR of the following set of cash flows? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Year 0 1 2 3 IRR Cash Flow -$ 15,900 6,600 7,900 6,400
Use the starting balance sheet, income statement, and the list of changes to answer the question. Lightspeed Industries Balance Sheet As of December 31, 2022 (amounts in thousands) 20,000 Liabilities Cash Other Assets Total Assets Revenue Expenses Net Income 35,000 Equity 55,000 Total Liabilities & Equity Lightspeed Industries Income Statement January 1 to March 31, 2023 (amounts in thousands) 3,300 4,900 -1,600 37,000 18,000 55,000 Between January 1 and March 31, 2023: 1. Other Assets do not change 2. Liabilities increase by $400,000 3. Paid-In Capital does not change 4. Dividends paid of $300,000 What is the value for Cash on March 31, 2023? Note: Account change amounts are provided in dollars but the financial statement units are thousands of dollars. Please specify your answer in the same units as the financial statements (i.e., enter the number from your updated balance sheet).