(a) Indicate the missing amount for each letter. Case 1 Direct materials used $9,700 24 Direct labor 5,100 8,100 Manufacturing overhead 8,400 4,100 Total manufacturing costs (a) 16,100 Beginning workin process inventory 1,100 (h) Ending work in process inventory (b) 3,100 Sales revenue 25,000 (1) Sales discounts 2,600 1,500 Cost of goods manufactured 17,100 22,100 Beginning finished goods inventory 3,400 Beginning finished goods inventory (c) 3,400 Goods available for sale 22,100 Cost of goods sold (d) (k) Ending finished goods inventory 3,500 2,600 Gross profit (e) 7,100 Operating expenses 2,800 (1) Net income 5,100 (f)
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- Prepare a vertical analysis of both the balance sheets and income statements for Year 4 and Year 3. Complete this question by entering your answers in the tabs below. Analysis Analysis Bal Sheet Inc Stmt Prepare a vertical analysis of the balance sheets for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments RUNDLE COMPANY Vertical Analysis of Balance Sheets Year 4 Plant (net) Land Total long-term assets Total assets Liabilities and stockholders' equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities. Noncurrent liabilities Bonds payable Other Total noncurrent liabilities Total liabilities Stockholders' equity Preferred stock (par value $10, 4% cumulative, nonparticipating; 7,200 shares authorized…The following are the typical classifications used in a balance sheet: a. Current assets f. Current liabilities b. Investments g. Long-term liabilities c. Property, plant, and equipment h. Paid-in capital d. Intangible assets i. Retained earnings e. Other assets Required:For each of the following 2021 balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is a contra account, select the appropriate letter with a minus sign.) Interest Payable __ Franchise __ Accumulated Depreciation __ Prepaid Insurance (for 2022) __ Bonds Payable (due in 10 years) __ Current Maturities of Long-Term Debt __ Notes Payable (due in 3 months) __ Long-Term Receivables __ Restricted Cash (which will be used to retire bonds in 10 years) __ Supplies __ Machinery __ Land (used in operations) __ Deferred Revenue (for 2022) __ Copyrights __ Common Stock __ Land (held for speculation) __ Cash equivalents __ Salaries Payable __Which of the following will be reflected in the "Cash flows from operating activities" of a Statement of Cash Flows? O A. Adjustment for depreciation O B. Purchase of equipment O C. Increase or decrease in loans O D. Purchase of inventory Previous page nttps://mancosaconnectacza/mad/ouiz/attempt.php?attempt=446654&cmid=D181433&page=18%3D Tume bere to search II
- What is meant by liquidity? Rank the following assetsfrom one to five in order of liquidity.(a) Goodwill. (d) Short-term investments.(b) Inventory. (e) Accounts receivable.(c) Buildings.Accounts Receivable will appear on which of the following financial statements?a. Income statementb. Statement of retained earningsc. Balance sheetd. Statement of cash flowsWhat is meant by liquidity? Rank the following assets from one to five in order of liquidity. Inventory Account receivable Short term investment Goodwill Building
- Use the following data to create a complete balance sheet. All accounts must be correctly labeled and arranged in the proper order. Cash Accounts receivable Accounts payable Short-term notes payable Inventories Gross fixed assets Long-term debt Common stock Accumulated depreciation $150,000 54,000 72,000 20,000 80,000 2,400,000 650,000 1,200,000 500,000Liquid assets is determined by Select one: a. Current assets - current liabilities O b. Current liabilities- Bank overdraft c. Current assets +stock+ prepaid expenses O d. Current assets-stock-Prepaid expensesGiven the following balance sheet data, calculate net working capital: cash = OMR25, accounts receivable %3D = OMR80, inventory = OMR120, %3D net fixed assets = OMR400, %3D accounts payable = OMR15, short- %3D
- Use the following information from XYZ Company's balance sheet to answer the next six questions: Assets a. b. c. d. a. b. 30. C. d. Cash........ Marketable Securities Accounts Receivable Inventory........ Property and Equipment. Accumulated Depreciation. Total Assets a. b. c. d. Liabilities and Stockholders' Equity Accounts Payable. Notes Payable (current). Mortgage Payable (long-term). Bonds Payable (long-term). Common Stock, $50 Par.. The average number of common stock shares outstanding during the year was 840 shares. Net earnings for the year were $6,300. 25. XYZ's current ratio is 6.0 to 1. 5.5 to 1. 26. XYZ's quick (acid-test) ratio is 4.0 to 1. 4.5 to 1. 3.5 to 1. 3.0 to 1. Paid-in Capital in Excess of Par......... Retained Earnings............ Total Liabilities, and Stockholders' Equity 4.0 to 1. 4.5 to 1. ***** 27. XYZ's earnings per share is $7.50 per share. $7.00 per share. $0.13 per share. $6,300 per share. 28. XYZ's return on assets is a. 6.9% b. 7.9% C. 14.6% d. 23.4% 29.…Common-size Balance Sheet. Explain what it is and why it is used inbusiness. Prepare common-size balance sheet for Target with the infoprovided below. Assets CashAccounts receivableInventoryOther current assetsTotal current assetsGross plant and equipmentAccumulated depreciationNet plant and equipmentLong-term investmentsGoodwill, trademarks, andother intangible assetsTotal assets $ Dec 31, 2022$20,2684,8733.2772,886$31,304$25,032-10,065$14,96711,512 32,272 $90,055Problem 3-8 Financial Statements (LO1) Henry Josstick has just started his first accounting course and has prepared the following balance sheet and income statement for Omega Corp. Unfortunately, although the data for the individual items are correct, he is very confused as to whether an item should go in the balance sheet or income statement and whether it is an asset or liability. BALANCE SHEET $ 35 Payables Less accumulated depreciation Inventories $50 120 Receivables 35 Total current assets Total current liabilities Interest expense $ 25 Long-term debt Property, plant, and equipment $350 520 Total liabilities Net fixed assets Shareholders' equity $90 Total liabilities and Total assets shareholders' equity INCOME STATEMENT Net sales $700 Cost of goods sold Selling, general, and administrative expenses 580 38 ЕBIT Debt due for repayment $ 25 Cash 15 Taxable income Тахes $ 15 Depreciation 12 Net income