What is the amount of current assets, assuming the acce Accounts Payable $12,000 Buildings 70.000 Cash 8,000 Accounts Recolvable 7,000 Seles Tex Payable 5,000 Retained Earnings 47,000 Supplies 2,000 Notes Payable (due in 18 months) Interest Paynble 35,000 3,000 Common Stock 45,000
Q: Which of the following transactions would affect operating cash flows reported in the statement of…
A: 1. OPERATING ACTIVITY INCLUDES CASH ACTIVITIES TO NET INCOME. 2. INVESTING ACTIVITY INCLUDE CASH…
Q: Shilongo Ltd uses costing to attribute costs to individual products and services provided to its…
A: The re-apportionment of service department expenses over the production departments is done by the…
Q: Meadow Company produces hand tools. A sales budget for the next four months is as follows: March…
A: Number of units to be produced in March = Ending finished goods inventory + Budgeted sales -…
Q: Cornerstone Exercise 6.8 Cost Information and FIFO Gunnison Company had the following equivalent…
A: The first in, first-out (FIFO) inventory valuation method is based on the cost flow assumption that…
Q: Ms. Gail Go created a trust in favour of her son, Wilson Go. He appointed Atty. Ramulo as a…
A: Here discuss about the details of the important of Trustee appointed by the Trust and its rights and…
Q: Badger Corp. has an issue of 6% bonds outstanding with 6 months left to maturity. The bonds are…
A: The weighted average cost of capital means the company's overall cost of capital of all forms and…
Q: Requirement 1. Fill in the blanks for each company. (Round the contribution margin per unit and…
A: Particulars Q R S T Target Sales $ 8,00,000 $ 4,00,000 $ 1,81,250 $ 7,98,750 Variable Expenses $…
Q: Scooby Snacks Corporation estimates uncollectible accounts based on an aging of accounts receivable…
A: Allowance for doubtful accounts means where account receivables are not going to recover in full and…
Q: Whitman has a direct labor standard of 2 hours per unit of output. Each employee has a standard wage…
A: Direct Labor rate variance = (Actual rate per Direct Labor hour - Standard rate per Direct Labor…
Q: Gordon Helps and Associates Company ltd makes two products. Information regarding one of those…
A: Cost per unit is the cost of making a single unit. It may include the variable as well as fixed…
Q: 6. [Para. 4-a-6] General Fund payrolls for the year totaled $4,460,212. Of that amount, $936,701 was…
A: In general fund Amount due to federal government account = Amount withheld for employees federal…
Q: XYZ Company Balance Sheet Assets Liabilities Cash $15,000 Notes $25,000 Inventory $41,000 Wages…
A: The liquidity ratio indicates the liquidity of the business entity. It includes ratios like current…
Q: Operating Budget, Comprehensive Analysis Ponderosa, Inc., produces wiring harness assemblies used…
A: The direct materials budget is prepared to estimate the raw materials required during the period and…
Q: truct a statement of cash flows us
A: A cash flow statement is a statement prepared to know the actual cash inflow or cash outflow during…
Q: Problem 3. CORPORATE EQUITY TRANSACTIONS 1. Issued 5,000 shares of no-par common stock. The market…
A: The company can raise funds by various methods. Some of them are, by way of issuing common stock,…
Q: 1.1. Nhyiraba Limited lease a building worth R4 million to Quintin Limited under an operating lease…
A: Investment Property: It is property (land or a building or part of a building or both) held (by the…
Q: Ivory Inc. has forecast purchases on account to be $317,000 in March, $377,000 in April, $427,000 in…
A: Budgeted cash payment for June = Cash payment for purchases in June + Cash payment for purchases in…
Q: Which of the following would result in the recognition of deferred tax liabilities? Select one: A.…
A: DTT (Deferred tax liability) which is recorded in the balance sheet (BS) of company and it reports…
Q: On June 19, 20X0, a fire destroyed a fraction of the uninsured merchandise inventory of the ABC…
A: Memorandum Trading account is an Account which is prepared at a certain period of time to evaluate…
Q: The following information was taken from the segmented income statement of Restin, Inc., and the…
A: In evaluation, whether continue to invest or not in a division, company should calculate the…
Q: Overhead Budget Johnston Company cleans and applies powder coat paint to metal items on a…
A: The question is based on the concept of Cost Accounting,
Q: Palmgren Company produces consumer products. The sales budget for four months of the year is…
A: Units produced = Total needed - Beginning inventory where, Total needed = Unit sales + Desired…
Q: sts: Direct materials $1.80 Direct labor 0.45 Variable overhead 0.80 Fixed overhead 1.80 Total…
A: Ending finished goods refer to the goods which are being produced by a company that is ready to be…
Q: 8.10 Operating Budget, Comprehensive Analysis Ponderosa, Inc., produces wiring harness assemblies…
A: What is meant by Budgeting? It is the process of forecasting future production, sales, cashflow…
Q: Sheridan Corporation is projecting a cash balance of $32,100 in its December 31, 2019, balance…
A: Cash budget means the statement which shows the expected cash available for distribution including…
Q: Maz owed £1,910 to suppliers at the beginning of the year, £2,430 at the end of the year, and during…
A: Credit purchases for the year = Creditors at the end of year + Total paid to creditors – Creditors…
Q: Blossom Co. uses the percentage-of-receivables basis to record bad debt expense. It estimates that…
A:
Q: For each of the following independent situations, calculate the missing values: 1. The Belen plant…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Business transaction analysis 1. Paid loan payables amounting to 15,000 2. Bought office supplies on…
A: The journal entries are prepared to record day to day transactions of the business on regular basis…
Q: Fruity Delight produces two products – fruit juice and fruit pulp – from a joint process. The joint…
A: The decision of further processing of joint products is based in incremental analysis. If the…
Q: Compute (a) the margin of safety in dollars and (b) the margin of safety ratio with the given…
A: Calculation of Margin of Safety in dollars Margin of safety in dollars = Current Sales in dollars –…
Q: QUESTION 14 A year-end balance sheet includes the following information for Owners' Equity: Common…
A: Treasury shares are organization own shares acquired by itself. These are to be measured at cost.…
Q: Projected sales in units for the coming five months are given below.
A: 1. Sales BudgetJanuaryFebruaryMarchBudgeted sales in units10,000 10,500 13,000 x Price per unit$…
Q: Replacement analysis should be done at the end of the useful life of the property.
A: Replacement analysis is the analysis in which the company analyse the different aspects of the…
Q: Problem 5 Prepare a cash budget by month for the month quarter ending September 30, 2009, from the…
A: Cash Budget refers to Future Estimation of Expected cash receipts and Payments to be incurred during…
Q: The following financial information is from Shovels Construction Company: Accounts Payable $15,000…
A: Introduction: Current Assets: The Assets which can be easily converted in to cash with in a 1 year…
Q: Dani Corporation signed a binding commitment on December 2 to purchase inventory for $300,000 cash…
A: Purchase commitment Liability = committed price for purchase - Replacement cost =$300000 -$280000…
Q: Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has the following…
A: Working Note: Budgeted overhead per unit = Variable overhead + Fixed overhead = $0.70 + 1.80 = $2.50…
Q: Holiday Corp. has two divisions, Quail and Marlin. Quail produces a widget that Marlin could use in…
A: If widgets are produced in the excess capacity, only variable cost is relevant because fixed cost do…
Q: A company had the following cash flows for the year: (a) Purchased land, $60,000 (b) Borrowed from…
A: CASH FLOW FROM FINANCING ACTIVITY COVERS REVENUE EARNED OR ASSETS SPENT ON FINANCING ACTIVITIES…
Q: Match each item on the left to the appropriate cash flow classification on the right. (You may use…
A: Solution: While preparing cash flow statement, cash flows are categories in three categories as…
Q: Ponderosa, Inc., produces wiring harness assemblies used in the production of semi-trailer trucks.…
A: The selling and administrative budget is prepared to estimate the costs to incurred to sell the…
Q: Compute the monthly payments on a 4-year lease for a $25,254 car if the annual rate df depreciation…
A: The question is based on the concept of Financial Management. Annuity refers to the series of equal…
Q: On January 1, 2017, Naruto Company issued P4,000,000 face value bonds with a stated rate of 12% and…
A: Carrying amount of the bond liability on December 31, 2017 = Cash proceeds from bonds issue +…
Q: or the Sleepeze, 12,340 for the Plushette, and 4,620 for the Ultima. Gene Dixon, vice president of…
A: Activity-based budget refers to the budget which collects, documents, and evaluates the business…
Q: Raven applies overhead based on direct labor hours. The variable overhead standard is 12.0 hours at…
A: Standard hours allowed = 4900 units x 12 standard hours = 58800 hours Actual hours taken = 58380…
Q: On September 30, 20x1, the warehouse of A Company for inventory in progress and all inventories…
A: Work in process inventory means inventory which is not completed or completely manufactured yet.…
Q: Ponderosa, Inc., produces wiring harness assemblies used in the production of semi-trailer trucks.…
A: Sales budget is that budget which shows estimated sales revenue to be earned from sales of goods and…
Q: Long John and friends want to set up a retail business. They have considered various forms of…
A: in the given question the different terms have been defined as per the demand of the question. all…
Q: Delaware Corp. prepared a master budget that included $16,120 for direct materials, $36,270 for…
A: Direct materials cost in a flexible budget = ($16120/4030) ×4330 = $17320
Step by step
Solved in 2 steps
- Suppose the 2022 Adidas financial statement contain the following selected data (in millions) current assets 4215 total assets 9000 current liabilities 4860 cash 755 interest expense 150 income tax 190 net income 275 a.working capital b.current ratio c.debt to assets ratio d.times interest earenedUse the following information to answer all accounting questions Category Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock @ par value COGS Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes 2020 1726 2812 705 2000 4028 170 1755 99 185 2574 8754 8312 750 799 3621 4338 450 2021 1120 2254 800 2300 175 2056 120 271 1829 8245 10254 547 1021 4021 5768 690Compared to the ROE in 2020, the ROE in 2021 has Improved / 6.65% Improved / 3.43% Worsened / -6.65% Worsened / -3.43% Stayed the same / 0% by
- Category Prior Year Current Year Accounts payable ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,516.41 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,946.66 Interest expense 40,500 41,874.31 Inventories 279,000 288,000 Long-term debt 336,467.85 401,942.46 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,499.58 Retained earnings 306,000 342,000 Sales 639,000 854,554.01 Taxes 24,750 48,384.56 ??? What is the current year's return on equity (ROE)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign re rounded to 4 decimal places (ex: 0.0924))Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 428,571.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,035.00 Interest expense 40,500 42,155.00 Inventories 279,000 288,000 Long-term debt 339,577.00 401,377.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,171.00 Retained earnings 306,000 342,000 Sales 639,000 849,094.00 Taxes 24,750 47,192.00 What is the current year's entry for long-term debt on a common-sized balance sheet? (ROUND TO 4 DECIMAL PLACES.)The latest statement of financial position for Malorie Limited is summarized below: GH¢'000 GHc '000 GH 000 Non-current assets (NBV) 5.700 Current assets Inventory 3.500 Receivables 1.800 5.300 Current liabilities Unsecured payables 4.000 Unsecured Bank overdraft 1.600 5.600 (300) Total assets less current liabilities 5.400 Non-Current Liabilities 10% secured debentures (13.000 Net assets 2,400 Financed by: Stated capital Income Surplus 4.000 (1.600) 2.400 Malorie's stated capital consists of 4.000.000 ordinary shares issued at GHel.00 and fully paid. The non-current assets comprise freehold property with a book value of GH¢3.000.000 and plant and machinery with a book value of GHc2,700,000. The debentures are secured on the freehold property In recent years the company has suffered a series of trading losses which have brought it to the point of liquidation. The directors estimate that in a forced sale the assets will realize the following amounts. GHSFreehold premises Plant and…
- Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,139.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,349.00 Interest expense 40,500 41,741.00 Inventories 279,000 288,000 Long-term debt 337,728.00 398,725.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,280.00 Retained earnings 306,000 342,000 Sales 639,000 847,106.00 Taxes 24,750 48,618.00 What is the current year's return on assets (ROA)? (Round to 4 decimal places.)need the calculation for debt to assets ratio, debt equity ratio, long-term debt to equity and times interest earned ratio. CURRENT ASSETS Cash and cash equivalents $ 5,910 $ 5,238 Marketable securities 406 503 Accounts receivable 10,888 9,645 Less: Allowance for credit losses (138) (93) Accounts receivable, net 10,750 9,552 Assets held for sale 1,197 0 Other current assets 1,953 1,810 Total Current Assets 20,216 17,103 Property, Plant and Equipment, Net 32,254 30,482 Operating Lease, Right-of-Use Asset 3,073 2,856 Goodwill 3,367 3,813 Intangible Assets, Net 2,274 2,167 Investments and Restricted Cash 25 24 Deferred Income Tax Assets 527 330 Other Non-Current Assets 672 1,082 Total Assets 62,408 57,857 Current Liabilities: Current maturities of long-term debt, commercial paper and finance leases 2,623 3,420 Operating Lease, Liability, Current 560 538 Accounts payable 6,455 5,555 Accrued wages and withholdings 3,569 2,552…Liabilities (in KD) Accounts payable Assets (in KD) Cash 154674 80000 Accounts receivable 100000 Accrued expenses 100000 Inventory 210000 Notes payables 180000 Property, Equipment, Plants 1500000 Long-term borrowings 400000 Less: Amortization 50000 Total liabilities Total equity Total assets Total Liabilities and Total Equity Income statement Sales 900000 COGS 400000 Gross profit Operating expenses 200000 EBIT Interest expeses 50000 EBT Taxes 20000 Net Income
- If the company's assets in TL: cash 100.000, accounts receivable 50.000, inventory 150.000, and building 200.000 (market value 300.000) and the liabilities 300.000. How much is the net assets under recorded value approach? Select one: a. 300.000 b. 400.000 c. 200.000 d. 600.000Balance sheet Assets (in KD) Liabilities (in KD) 80000 Accounts payable Accrued expenses Cash 53627 Accounts receivable 100000 100000 Inventory 210000 Notes payables 180000 Property, Equipment, Plants 1500000 Long term borrowings 400000 Less: Amortization 50000 Total liabilities Total equity Total assets Total Liabilities and Total Equity Consider the above balance sheet. Calculate the current ratio of this company In the reasons box, comment on the liquidity position of the company Note Use two decimal points in your answer (1.23, 1.58, ) AnswerAssets (in KD) Liabilities (in KD) Cash 116749 Accounts payable 80000 Accounts receivable 100000 Accrued expenses 100000 Inventory 210000 Notes payables 180000 Property, Equipment, Plants 1500000 Long-term borrowings 400000 Less: Amortization 50000 Total liabilities Total equity Total assets Total Liabilities and Total Equity Consider the above balance sheet. Calculate the debt ratio of this company. In the reasons box, explain your answer in a sentence. Note: Use two decimal points in your answer (0.23, 0.58, ) Answer Give your reasons