FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Given the following data for the Vaughn Manufacturing: Current liabilities $550 Long-term debt 510 Common stock 744 Retained earnings 1296 Total liabilities & stockholders’ equity $3100 How would common stock appear on a common size balance sheet? 26% 16% 24% 58%arrow_forwardThe balance sheet for Shankland Corporation follows: 000'009 $ 000006 Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings 000 0000 000 00 000 009' 000 006 Total liabilities and stockholders' equity 000'00s Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratioarrow_forwardCalculate the following ratios, follow the steps and must interpret your answers , Current ratio Earning per share ratio Current assets=$89000 Current liabilities= 61000 Net income/profit=$18000 Number of shares common stock=76262 Total asset=770000arrow_forward
- Determine the value of retained earnings given the following information: current assets = $650; current liabilities = $120; capital assets = $350; bonds = $430; common shares = $300. Plesae mention the steps:arrow_forwardAnderson Inc has total assets of $18,797, current assets of $3,777, current liabilities of $4,999 and total equity of $7,036. Given this information what is the long term debt of the company?arrow_forwardCompute for the Current Assets.arrow_forward
- WD Corporation reports the following year-end balance sheet data. The company's debt-to-equity ratio equals: Cash $ 42,000 Current liabilities $ 77,000 Accounts receivable 57,000 Long-term liabilities 28,000 Inventory 62,000 Common stock 102,000 Equipment 147,000 Retained earnings 101,000 Total assets $ 308,000 Total liabilities and equity $ 308,000arrow_forwardTotal debt to total assets% ratio: ?? Round your answer to the nearest hundredth percent Return on equity% ratio: ?? Round your answer to the nearest hundredth percent Asset turnover ratio: ?? Round your answer to the nearest centarrow_forwardOn January 1, Park Corporation and Strand Corporation had condensed balance sheets as follows: Current assets Items Noncurrent assets Total assets Current liabilities Long-term debt Stockholders' equity Total liabilities and equities Park $ 92,500 114,500 $ 207,000 $ 44,000 64,000 99,000 Strand $ 31,050 49,700 $ 80,750 $ 30,750 0 50,000 $ 207,000 $ 80,750 On January 2, Park borrowed $58,400 and used the proceeds to obtain 80 percent of the outstanding common shares of Strand. The acquisition price was considered proportionate to Strand's total fair value. The $58,400 debt is payable in 10 equal annual principal payments, plus interest, beginning December 31. The excess fair value of the investment over the underlying book value of the acquired net assets is allocated to inventory (60 percent) and to goodwill (40 percent). Required: On a consolidated balance sheet as of January 2, calculate the amounts for each of the following: a. Current assets b. Noncurrent assets c. Current…arrow_forward
- 21. Kinsella Corporation's statement of financial position showed the following amounts: current liabilities, $75,000; total liabilities, $100,000; total assets, $200,000. What is the total long-term debt to total equity ratio? a.0.375 b.0.125 c.0.75 d.0.25arrow_forwarddont give answer in image formatarrow_forwardThe balance sheet for Fanning Corporation follows: $ 246,000 764,000 Current assets Long-term assets (net) Total assets $1,010,000 $ 149,000 452,000 601,000 409,000 Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $1,010,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio % Debt-to-equity ratio < Prev 5 of 6 MacEarrow_forward
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