Which balance sheet line item has the highest percentage increase from the prior year to the current year? Current Year Prior Year Cash $ 54,000 $36,000 Accounts Receivable 18,000 72,000 Inventory 108,000 54,000 Prepaid Insurance 18,000 27,000 Multiple Choice Inventory O Cash Accounts receivable Prepaid insurance

Which balance sheet line item has the highest percentage increase from the prior year to the current year? Current Year Prior Year Cash $ 54,000 $36,000 Accounts Receivable 18,000 72,000 Inventory 108,000 54,000 Prepaid Insurance 18,000 27,000 Multiple Choice Inventory O Cash Accounts receivable Prepaid insurance

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Accounts Receivable Analysis A company reports the following: Sales $429,240 Average accounts receivable (net) 30,660 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 fill in the blank 1 b. Number of days' sales in receivables fill in the blank 2 days
Supply the missing components of the Statement of Financial Position and Sales information using the following financial data:Debt ratio: 50%Current ratio: 1.8×Total assets turnover: 1.5×Days sales outstanding: 36.5 days*Gross profit margin on sales: (Sales − Cost of goods sold)/Sales = 25%Inventory turnover ratio: 5×*Calculation is based on a 365-day year.Statement of Financial Position(in Thousands)Cash ________Accounts payable_________Accounts receivable ________Long-term debt PhP120,000Inventories ________Common stock_________Fixed assets ________Retained earnings 195,000Total assets PhP600,000Total liabilities and equity _________Sales _______Cost of goods sold _________
Cash and accounts receivable for Adams Company are as follows: Current Year Prior Year Cash $64,800 $54,000 Accounts receivable (net) 58,982 76,600 What are the amounts and percentages of increase or decrease that would be shown with horizontal analysis? Account Dollar Change Percent Change Cash $fill in the blank 1 fill in the blank 2 % Accounts Receivable $fill in the blank 4 fill in the blank 5 %
Year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Inventory Prepaid rent Current Year 1 Year Ago 2 Years Ago $ 26,725 77,457 $ 31,858 95,459 8,436 240,403 30,967 41,290 43,529 52,503 73,671 8,200 220,389 3,372 193,642 $ 312,800 $ 42,115 69,129 162,500 Machinery, net Total assets $ 448,480 $ 386,621 Liabilities and Equity Accounts payable $ 110,555 Long-term notes payable 83,471 $ 65,992 88,034 Common stock 162,500 Retained earnings 91,954 162,500 70,095 39,056 Total liabilities and equity $ 448,480 $ 386,621 $ 312,800 Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute times interest earned for the current year and one year ago. Current Year 1 Year Ago Times Interest Earned Choose Numerator: / Choose Denominator: I II 11 Times interest earned times times
Need answer
Number 1
Cash and accounts receivable for Adams Company are provided below: Prior Year Current Year Cash $50,799 Accounts receivable (net) 26,163 Based on this information, what is the amount and percentage of increase or decrease that would be shown with horizontal analysis? Enter a decrease using a minus sign before the amount and the percentage. Account Dollar Change Percent Change Cash Accounts Receivable $41,300 45,900
Considering the financial statement information below for the The C’mon Cam! Co., how long is the cash cycle? Item Beginning EndingInventory $9,338 $11,550Accounts Receivable 5,670 6,947Accounts Payable 7,689 9,625 Net Sales $82,544Cost of Goods Sold $58,638 a. 28 daysb. 39 daysc. 65 daysd. 93 days
Current Ratio Data: Year 2018: 787.25% Year 2019: 951.50% Year 2020: 1105.00% Year 2021:1553.51% Year 2022:1540.03% Question: which of the following transactions and events would result in an improvement in Current Ratio in year 2020? receiving cash for unearned sales revenue a cash receipt from a customer for amounts owing on goods previously sold on credit acquiring cash proceeds from a 5-year interest-only bank loan A and B only A and C only B and C only All of the above None of the above
Given the following information, compute the current and quick ratios: Cash $ 100,000 Accounts receivable 335,000 Inventory 487,000 Current liabilities 463,000 Long-term debt 619,000 Equity 621,000 Round your answers to two decimal places. Current ratio: :1 Quick ratio: :1