FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- What is Bank A's ROA based on Figure 1 Balance Sheet ($ in Millions): Assets Liability and Equity Cash $850 Deposits $6,475 Securities 1,925 Other borrowing 1,645 Loans 5,400 Equity 1,030 Other 975 Total $9,150 Total $9,150 Figure 2 Income Statement ($ in Millions): Interest income on loans $450 Interest income on securities 95 Interest expense 246 Noninterest income 78 Noninterest expense 112 Provision for loan loss 35 Taxes 115 Net Income $115 Based on Figures 1 and 2, what is Bank A's Equity Multiplier? A. 8.88 B. 4.75 C. 7.23 D. 8.11arrow_forwardThe following data apply to the next six problems. Consider Fisher & Company's financial data as follows (unit: millions of dollars except ratio figures):Cash and marketable securities $100Fixed assets $280Sales $1,200Net income $358Inventory $180Current ratio 3.2Average collection period 45 daysAverage common equity $500Find Fisher's accounts receivable.(a) $147.95 (b) $127.65(c) $225.78 (d) $290.45arrow_forwardased on these items, what is the total of the (a) liquid assets and (b) current liabilities? Checking account balance $ 935 Savings account balance $ 3,425 Retirement account balance 58,500 Current student loan payment due 370 Credit card balance 192 Investment account balance 9,500 Rare jewelry 600 Mortgage 185,500arrow_forward
- On the basis of the following data related to assets due within one year for simmons Co. prepared partial balance sheet in good from at december 31, show total current asset Cash 96,000 Notes receivable 50,000 Accounts receivable 275,000 Allowance for Doubtfull Account 40,000 Interest Receivable 1,000arrow_forward1. The following accounts appeared on the partial Balance Sheet of Brandy Inc.: Accounts Payable Accounts Receivable $ 5,500 2,300 2,820 3,000 8,140 18,560 18,760 100 Bank Loan Cash Common Stock Inventory Long-term debt Machinery What is the total amount of all assets (rounded to the nearest dollar)?arrow_forwardUse the following information to answer the questions: Assets Liabilities and Equity Cash 13,000 Accounts payable 18,000 Marketable securities 2,000 Notes payable 6,000 Accounts receivable 3,000 Current liabilities 24,000 Inventory 27,000 Long-term debt 95,000 Current assets 45,000 Total liabilities 119,000 Machines 34,000 Paid-in capital 20,000 Real estate 80,000 Retained earnings 20,000 Fixed assets 114,000 Equity 40,000 Total assets 159,000 Total liab. & equity 159,000 What is the quick ratio (aka the acid test)?arrow_forward
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