Dec. 31, 20Y3 Dec. 31, 20Y2 Assets $ 155,000 $ 150,000 Cash ..... Accounts receivable (net) 450,000 400,000 750,000 Inventories 770,000 Investments 100,000 Land 500,000 Equipment..... Accumulated depreciation-equipment . Total assets.. 1,400,000 1,200,000 (600,000) (500,000) $2,675,000 $2,100,000 Liabilities and Stockholders' Equity $ 300,000 $ 340,000 Accounts payable .... Accrued expenses payable . Dividends payable..... Common stock, $4 par. 45,000 50,000 30,000 25,000 600,000 700,000 Paid-in capital: Excess of issue price over par-common stock.... Retained earnings...... Total liabilities and stockholders' equity... 200,000 175,000 1,360,000 950,000 $2,675,000 $2,100,000 The income statement for the year ended December 31, 20Y3, is as follows: Sales ...... $3,000,000 Cost of merchandise sold 1,400,000 Gross profit ...... $1,600,000 Operating expenses: $ 100,000 Depreciation expense Other operating expenses 950,000 Total operating expenses . 1,050,000 $ 550,000 Operating income.. Other income: Gain on sale of investments.. 75,000 $ 625,000 Income before income tax Income tax expense 125,000 $ 500,000 Net income

The following information pertains to Dallas Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments $41,706 Accounts receivable (net) 32,359 Inventory 33,536 Property, plant, and equipment 244,092 Total Assets $351,693     Liabilities and Stockholders' Equity Current liabilities $67,811 Long-term liabilities 92,969 Common stock, $20 par 125,380 Retained earnings 65,533 Total Liabilities and stockholders' equity $351,693   Income Statement Sales $85,174 Cost of goods sold 38,328 Gross margin $46,846 Operating expenses 28,378 Net income $18,468   Number of shares of common stock 6,269 Market price of common stock $20 Dividends per share $1.00 Cash provided by operations $40,000 What is the return on stockholders' equity? a.28.2% b.1.1% c.6.9% d.2.9%

Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Line Item Description Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $13,400 $12,800 Inventory 57,300 58,000 Accounts payable 13,600 11,800 Dividends payable 29,000 27,000 Adjust net income of $123,400 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.fill in the blank 1 of 1$

Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $36,767 Accounts receivable 74,993 Accrued liabilities 6,681 Cash 17,378 Intangible assets 41,965 Inventory 83,039 Long-term investments 90,147 Long-term liabilities 70,154 Marketable securities 39,256 Notes payable (short-term) 24,477 Property, plant, and equipment 689,894 Prepaid expenses 1,932 Based on the data for Harding Company, what is the amount of working capital?

Subject: acounting

The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Line Item Description Current Year Previous Year Current assets:       Cash $417,200   $318,000     Marketable securities 483,100   357,800     Accounts and notes receivable (net) 197,700   119,200     Inventories 1,167,500   905,200     Prepaid expenses 601,500   578,800       Total current assets $2,867,000   $2,279,000   Current liabilities:       Accounts and notes payable (short-term) $353,800   $371,000     Accrued liabilities 256,200   159,000       Total current liabilities $610,000   $530,000   a.  Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Line Item Description Current Year Previous Year 1.  Working capital ? ? 2.  Current ratio ? ? 3.  Quick ratio ? ?  from the preceding year to the current year. The working capital, current ratio, and quick…

The accountant for Robinson Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: RETAINED EARNINGS BALANCE AT BEGINNING OF YEAR $156,000 CAHS DIVIDENS DECLARED FOR THE YEAR $46,000 PROCEEDS FROM SALE OF EQUIPMENT $81,000 GAIN ON SALE OF EQUIPMENT $7,000 CASH DIVIDENDS PAYABLE BEGINNING OF YEAR $18,000 CASH DIVIDENDS PAYABLE ENDING OF YEAR $40,000 NET INCOME $92,000 The amount of cash dividends paid during the year would be:

Blooming Flower Company was started in Year 1 when it acquired $61,400 cash from the issue of common stock. The following data summarize the company's first three years' operating activities. Assume that all transactions were cash transactions. Purchases of inventory Sales Cost of goods sold Selling and administrative expenses Income Statements Balance Sheets Assets Cash Required Prepare an income statement (use multistep format) and balance sheet for each fiscal year. (Hint: Record the transaction data for each accounting period in the accounting equation before preparing the statements for that year.) Merchandise inventory Complete this question by entering your answers in the tabs below. Total assets Liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Year 1 $22,300 26,500 12,400 5,310 $ 60,290 9,900 Prepare a balance sheet for each fiscal year. (Hint: Record the transaction data for each accounting…

Sherwood, Inc., had the following current assets and current liabilities at the end of two recent years:   Year 2(in millions) Year 1(in millions) Cash and cash equivalents $4,165   $4,528   Short-term investments, at cost 2,958   8,408   Accounts and notes receivable, net 9,404   8,624   Inventories 1,771   787   Prepaid expenses and other current assets 590   291   Short-term obligations (liabilities) 315   3,342   Accounts payable and other current liabilities 7,453   6,813     a.   Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place.   Year 2 Year 1 Current ratio fill in the blank 1 fill in the blank 2 Quick ratio fill in the blank 3 fill in the blank 4

Moore Company is preparing its statement of cash flows for the current year. During the year, the company retired two issuances of debt and properly recorded the transactions. These transactions were as follows: Paid cash of $12,700 to retire bonds payable with a face value of $15,000 and a book value of $13,300. Paid cash of $48,000 to retire bonds payable with a face value of $45,000 and a book value of $47,000. Required: Record, in journal entry form, the entries that Moore would make for the preceding transactions on its spreadsheet to prepare its statement of cash flows. If an amount box does not require an entry, leave it blank.