Accounts payable-trade .......4,350,00
Accounts receivable-trade ......3,100,00
Bank loan, short-term borrowings..... 1,500,000
Processing formulas ......300,000
Land held...
Accounts payable-trade .......4,350,00
Accounts receivable-trade ......3,100,00
Bank loan, short-term borrowings..... 1,500,000
Processing formulas ......300,000
Land held for speculation...... 2,500,000
Land ......5,000,000
Change fund .....30,000
Prepaid advertising ......80,000
Unused office supplies .......20,000
Notes payable-trade ......2,500,000
Notes receivable ........1,000,000
Copyright ........300,000
Tools...... 100,000
Building...... 8,000,000
Machinery...... 5,000,000
Office furniture...... 1,800,000
Computer software ......500,000
Bonds payable .......5,000,000
Time deposit due december 31, 2023...... 5,000,000
Premium on bonds payable..... 500,000
Cash in PNB#001 .......2,300,000
Cash in PNB#002 .......(150,000)
Jenny, capital..... 17,880,000
Accumulates depreciation, building..........
14 Compare the reasons for the changes in
return on equity for Eastnorth Manufacturing and its...
14 Compare the reasons for the changes in
return on equity for Eastnorth Manufacturing and its industry.
Balance Sheets for INDUSTRY:
December 31
2017
2016
2015
ASSETS
Cash and marketable securities
$30,000
$25,000
$20,000
Accounts receivable
110,000
90,000
60,000
Inventories
100,000
80,000
80,000
Total current assets
240,000
195,000
160,000
Gross plant and equipment
250,000
220,000
200,000
Less: accumulated depreciation
−100,000
−65,000
−50,000
Net plant and equipment
150,000
155,000
150,000
Land
50,000
50,000
50,000
Total fixed assets
200,000
205,000
200,000
Total...
1. A corporation reports the following balances and
amounts:
Accounts payable, $50,000
Cash provided...
1. A corporation reports the following balances and
amounts:
Accounts payable, $50,000
Cash provided by operations, $100,000
Accounts receivable, $35,000
Net income, $40,000
Average number of common shares, 15,000
Salaries and wages payable, $40,000
Average current liabilities, $225,000
Stockholders’ equity, $200,000
Average total assets, $600,000
Current assets, $300,000
Average total liabilities, $320,000
Current liabilities, $250,000
Dividends paid to preferred shareholders, $5,000
Determine its earnings per share?
Group...
Use the following information to complete
questions
Income Tax Rate: 40%
Income Before Income Tax:...
Use the following information to complete
questions
Income Tax Rate: 40%
Income Before Income Tax: $500,000
Cash: $50,000
Inventory: $80,000
Accounts Receivable, Net: $30,000
Accounts Payable: $20,000
Prepaid Rent: $50,000
Note Payable: $30,000
Interest Expense: $5,000
Beginning Retained Earnings Balance: $40,000
Dividends Paid: $1,000
Machinery: $100,000
Common Stock: $80,000
Accumulated Depreciation:
$50,000
Bonds Payable: $150,000
Patent: $3,000
Note Receivable:
$150,000
Land: $106,000
Building:
$100,000
What is...
T accounts and Ledgers for all problems
1. invested 80,000 to start business
2. purchase supplies...
T accounts and Ledgers for all problems
1. invested 80,000 to start business
2. purchase supplies on account 50,000
3. purchased land for 100,000 paying 200,000 down and signed a
note for the rest of the balance
4. paid delivery expense of 20,000
5. car rental revenue earned from corporate customers on account
110,000
6. paid on accounts payable 25,000
7. collections of cash from corporate customers 80,000
8. paid on notes payable 30,000 on principles plus interest of
6,000
Slick Enterprises has the following capital structure: Loans, 9%
$100,000 Loans, 12% 100,000 Accounts payable 200,000...
Slick Enterprises has the following capital structure: Loans, 9%
$100,000 Loans, 12% 100,000 Accounts payable 200,000 Mortgage, 8%
400,000 -------- Total liabilities $800,000 Common stock 100,000
-------- Total liability & equity $900,000 Accounts payable
that are over 30 days old incur a cost of 1.5% per month. About
half the accounts are older than 30 days. Common stock has a market
price of $15 and earnings per share of $3.50 after taxes, of which
$1.50 is paid as dividends. (a)...
A company has the following balances at December 31, 2019:
Accounts payable
60,000
Accounts receivable
52,500...
A company has the following balances at December 31, 2019:
Accounts payable
60,000
Accounts receivable
52,500
Cash
80,000
Common stock
200,000
Equipment
96,000
Equity investments
76,300
Inventory
57,000
Long-term liabilities
100,000
Patents
32,000
Retained earnings
17,000
Salaries payable
15,000
Unearned revenue
1,500
Additional information:
The cash balance includes $20,000 cash restricted for future
plant expansion.
Allowance for doubtful accounts is $3,800.
Accumulated depreciation on equipment is $40,000.
The long-term liabilities balance includes $12,000 due in
2020.
Format guidance: Enter whole...
Income statement and balance sheet data for The Sports Shack are
provided below.
The Sports Shack...
Income statement and balance sheet data for The Sports Shack are
provided below.
The Sports Shack
Income Statements
For the years ended December 31
2019
2018
Sales revenue
$8,200,000
$6,600,000
Cost of goods sold
6,100,000
4,700,000
Gross profit
2,100,000
1,900,000
Expenses:
Operating
expenses
1,450,000
1,400,000
Depreciation
expense
90,000
100,000
Interest
expense
25,000
50,000
Income
tax expense
95,000
80,000
Total
expenses
1,660,000
1,630,000
Net income
$440,000
$270,000
The Sports Shack
Balance Sheets
December 31
Assets
2019
2018
2017
Current assets:
Cash...
The following reflects Ace Inc.’s adjusted accounts at their
normal balances for the year ended December...
The following reflects Ace Inc.’s adjusted accounts at their
normal balances for the year ended December 31, 2019.
Cash
80,000
Accounts Receivable
15,000
Supplies
3,000
Inventory
150,000
Prepaid Insurance (represents 2 years)
50,000
Equipment
300,000
Accumulated Depreciation - Equipment
40,000
Land
75,000
Patent
5,000
Accounts Payable
145,000
Note Payable (due in 3 equal annual installments)
36,000
Deferred Revenue (represents 8 months)
16,000
Common Stock (50,000 shares authorized, $5 par, 20,000 shares
issued and outstanding
100,000
Additional Paid in Capital
30,000...
Based on the following data, what is the Current Ratio?
Accounts payable........................
$ 78,000
Accounts receivable......................
Based on the following data, what is the Current Ratio?
Accounts payable........................
$ 78,000
Accounts receivable...................
158,000
Payroll tax payable.....................
15,000
Cash...........................................
49,000
Inventory.....................................
148,000
Goodwill......................................
160,000
Short Term Investments................
108,000
Notes payable (short-term)..........
65,000
Property, plant, and equipment.....
1,800,000
Prepaid Expenses.......................
15,000
a.
320,000
b.
2.68
c.
3.13
d.
1.99
e.
3.03
Gorsline Company presents the following data, in millions, for
Year 2.
Inventories, beginning of year
$ 5,209
Inventories, end...