Yana Co. collected P15,000 interest during 2020. It showed P2,000 interestreceivable on its December 31, 2020, balance sheet and P6,000 on December 31,2019. The interest revenue on the income statement for 2020 amounted to?

Q: At the beginning of 2019, Blue Devil Inc. had net Accounts Receivable of $49,000. At the end of…

A: Quick ratio: The financial ratio which evaluates the ability of a company to pay off the instant…

Q: Beachwood Manufacturing Inc's summarized financial data are shown as follows (amounts are in…

A: Computation of EBITDA (earnings before interest, taxes, depreciation, and amortization)…

Q: What were the company's total net sales for 2020?

A: The debtors' turnover ratio is a tool used to analyze the efficiency with which the company receives…

Q: Excerpts of financial data of Matend Projects Limited for 2019 are as follows:   Statement of…

A: Ratio analysis helps in comparison between the years. Helps to understand the progress of the…

Q: Income Statement Bullseye, Incorporated's 2018 income statement lists the following income and…

A: Earnings before interest and taxes: Earnings before interest, depreciation and taxes are the…

Q: Required: a) Prepare a statement of cash flows from operations for Neway Ltd. b) Prepare a statement…

A: Cash flow statement are prepared in order to ascertain the actual cash…

Q: Pandoy Inc. reported purchases of P2,500,000 in its cash basis income statement during 2020.…

A: Accrual Basis:- It is a method where accounting transactions get recorded when expenses and revenue…

Q: Wynn Company reported revenue of P6,000,000 under the cash basis for the year ended 2020. Additional…

A: The accrual basis accounting records the revenue and expenses when they are incurred irrespective of…

Q: A company had the following unadjusted balances on specific accounts for the year ended December 31,…

A: Current liabilities: Liabilities that are due to be paid within one year or within one operating…

Q: What is the owner's equity for the BlueDragon company for accounting period 2020? note: write the…

A: Solution:- Owner’s equity means the amount of funds contributed by the owners of the entity. In case…

Q: Question 1: The following are related transactions of YZX manufacturing company. Particulars Amt ($)…

A: Part (i) Statement of Cost of Goods Sold  Particulars  Amount($) Amount($) Raw Material…

Q: Gee Hee Traders started operating in 2021. For the year ended 2021, the sales, purchases, and…

A: Solution We are given with the following information Sales = P500,000 Purchases = P200,000 Closing…

Q: Winter Company earned revenues of $340,000 in cash and $425,000 on account during 2020. Of the…

A: In accrual accounting, revenue earned and expenses incurred shall be included in the income…

Q: Sales: $300 Depreciation expense: $20 Interest expense: $40 Tax expense: $40 Net worth: $150 2 In…

A: Net income is calculated as shown below.

Q: In its December 31, 2020, balance sheet Oakley Corporation reported as an asset, “Net notes and…

A: Balance Sheet:   It is a financial statement that reports the financial position of an organization…

Q: Miller Company reported the following information in its 2020 financial statements ($ in millions)…

A: Accounts receivable are the part of assets of the entity and are classified under the category…

Q: Allen Company's 2019 income statement reported total revenues, $860,000 and total expenses…

A: Cash flow statement :— It is one of the financial statements that shows change in cash and cash…

Q: V Company reported sales revenue of P4,600,000 in the income statement for the year ended December…

A: Cash Basis of Accounting - Under Cash Basis of Accounting company book all their incomes and…

Q: During 2019, the company reported net income of $4,212 million, interest expense of $167 million and…

A: Earnings before interest and tax (EBIT) = net income + interest expense + income tax expense =…

Q: 4. Net profit margin: ________% 5. Total asset turnover: _______ times 6. Return on assets (Round…

A: As we answer only 3 subparts at a time, we are going to answer first 3 subparts which is (4), (5),…

Q: UTT Co. shows the following information on its 2019 financial statement: interest expense = $6,900;…

A: Interest expense =$6,900Net new debt = -$6,900Cash flow to creditors =?

Q: INCOME STATEMENT, 2019 (Figures in $ millions) Revenue $ 1,985 Cost of goods sold 1,065…

A: Shareholders’ Equity: Shareholders' equity (also known as corporate net worth) is a measure of how…

Q: How much should be reported as net cash

A: Cash from operating activities is a separate section in Cash flow Statement.

Q: Using the attached financial statement footnote. Explain why the application of time value is…

A: Foot notes: Foot notes to the financial statement can be defined as the additional information…

Q: Mars Company reported the following balances after adjustments at year end of 2020 and 2019: 2020…

A: Beginning Allowance for Doubtful Accounts = Beginning Accounts Receivable - Beginning Net Realizable…

Q: The following data are taken from the financial statements of Blossom Company, Accounts receivable…

A: Ratio analysis helps to analyze the financial statements of the company. The management can take…

Q: VIOLET Company reported total purchases of P 3,200,000 in its accrual basis financial statement on…

A: The cash basis accounting system state that, the revenue and expenses should be recognized when cash…

Q: Combate Company reported total purchases of P3,200,000 in its accrual  basis financial statement on…

A: Cash purchase: It can be defined as the purchase of goods or services by an individual or business…

Q: The 2020 Annual Report of Sheffield International contains the following information. (in millions)…

A: Asset turnover ratio is a type of ratio that shows the total sales of a company as a time of the…

Q: operating activities section of the statement of cash flows using the indirect method

A: The statement of cash flows is a part of financial statement which shows the flow of cash across…

Q: Pretty Co.'s total liabilities and equity amounted to $285,000 for year 2018. The financial…

A: Formula: Accounting Equation: Assets = Liabilities + Owners equity