Accounting: What the Numbers Mean
11th Edition
ISBN: 9781259535314
Author: David Marshall, Wayne William McManus, Daniel Viele
Publisher: McGraw-Hill Education
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Chapter 8, Problem 8.8E
Exercise 8.8
Review exercise-calculate
| Retained earnings, December 31, 2017 | $490,400 |
| Net decrease in total assets during 2017 | 74,800 |
| Net increase in accounts receivable in 2017 | 17,200 |
| Dividends declared and paid in 2017 | 67,200 |
| Proceeds from issuance of bonds during 2017 | 176,800 |
| Net loss for the year ended December 31, 2017 | 46,000 |
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Students have asked these similar questions
Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are
as of the end of the fiscal year (in millions).
2017
2016
Net sales
$4,750
$5,401
Cost of goods sold
3,901
3,500
Net income
55
120
Accounts receivable
65
109
Inventory
1,250
1,350
Total assets
2,850
3,150
Total common stockholders' equity
961
1,111
Compute the following ratios for 2017. (Round asset turnover to 2 decimal places, e.g 1.83 and all other answers to 1 decimal place, e.g. 1.8
or 2.5%)
Refer to the data below.
Retained earnings, December 31, 2020
$
416,840
Net decrease in total assets during 2020
63,580
Net increase in accounts receivable in 2020
14,620
Dividends declared and paid in 2020
57,120
Proceeds from issuance of bonds during 2020
150,280
Net loss for the year ended December 31, 2020
39,100
Required:From the above data, calculate the Retained Earnings balance as of December 31, 2019:
Current Attempt in Progress
XYZ provided the following financial information:
XYZBalance SheetAs of 12/31/19
Assets:
Liabilities and Equity:
Cash and marketable securities
$27,476
Accounts payable and accruals
$154,860
Accounts receivable
$143,519
Short-term notes payable
$21,255
Inventory
$212,379
Total current liabilities
$176,115
Total current assets
$383,374
Long term debt
$155,510
Net plant and equipment
$602,704
Total liabilities
$331,625
Goodwill and other assets
$42,422
Common stock
$312,719
Retained earnings
$384,156
Total assets
$1,028,500
Total liabilities and equity
$1,028,500
In addition, it was reported that the firm had a net income of:
$158,402
and net sales of:
$4,272,431
Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g.…
Chapter 8 Solutions
Accounting: What the Numbers Mean
Ch. 8 - Prob. 8.1MECh. 8 - Mini-Exercise 8.2 LO 2 Preferred stock-calculate...Ch. 8 - Prob. 8.3MECh. 8 - Mini-Exercise 8.4 LO 6 Treasury stock transactions...Ch. 8 - Prob. 8.5ECh. 8 - Exercise 8.6 Review exercise-calculate net income...Ch. 8 - Prob. 8.7ECh. 8 - Exercise 8.8 Review exercise-calculate retained...Ch. 8 - Prob. 8.9ECh. 8 - Prob. 8.10E
Ch. 8 - Prob. 8.11ECh. 8 - Prob. 8.12ECh. 8 - Prob. 8.13ECh. 8 - Prob. 8.14ECh. 8 - Exercise 8.15 LO 3 Dividend dates-market price...Ch. 8 - Exercise 8.16 LO 3 Ex-dividend date-market price...Ch. 8 - Prob. 8.17ECh. 8 - Prob. 8.18ECh. 8 - Prob. 8.19ECh. 8 - Prob. 8.20ECh. 8 - Prob. 8.21ECh. 8 - Prob. 8.22ECh. 8 - Prob. 8.23PCh. 8 - Prob. 8.24PCh. 8 - Prob. 8.25PCh. 8 - Prob. 8.26PCh. 8 - Prob. 8.27PCh. 8 - Problem 8.28 LO 1, 2, 4, 6 Transaction...Ch. 8 - Problem 8.29 LO 1, 2, 4, 6 Transaction...Ch. 8 - Problem 8.30 LO 1. 2, 4, 6 Transaction...Ch. 8 - Prob. 8.31PCh. 8 - Prob. 8.32PCh. 8 - Prob. 8.33CCh. 8 - Prob. 8.34CCh. 8 - Prob. 8.35CCh. 8 - Case 8.36 LO 1, 2, 7 Capstone analytical review of...
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