The current sections of Flint Corporation’s balance sheets at
December 31, 2021 and 2022, are presented...
The current sections of Flint Corporation’s balance sheets at
December 31, 2021 and 2022, are presented here. Flint Corporation’s
net income for 2022 was $215,900. Depreciation expense was
$35,700.
2022
2021
Current assets
Cash
$52,700
$ 75,650
Accounts receivable
72,250
58,650
Inventory
66,300
52,700
Prepaid expenses
14,450
16,150
Total current assets
$205,700
$203,150
Current liabilities
Accrued expenses payable
$ 5,100
$ 13,600
Accounts payable
74,800
61,200
Total current liabilities
$79,900
$ 74,800
Prepare the net cash provided by operating activities...
The current sections of Blossom Rentals balance sheets at
December 31, 2021, and 2020, are presented...
The current sections of Blossom Rentals balance sheets at
December 31, 2021, and 2020, are presented here. Blossom’ profit
for 2021 was $146,880. Depreciation expense was $23,040. 2021 2020
Current assets Cash $100,800 $95,040 Accounts receivable 105,600
85,440 Inventory 151,680 165,120 Prepaid expenses 25,920 21,120
Total current assets $384,000 $366,720 Current liabilities Accrued
expenses payable $14,400 $4,800 Accounts payable 81,600 88,320
Total current liabilities $96,000 $93,120 Prepare the net cash
provided by operating activities section of the company’s statement
of...
The current sections of Scoggin Inc.’s balance sheets at
December 31, 2016 and 2017, are presented...
The current sections of Scoggin Inc.’s balance sheets at
December 31, 2016 and 2017, are presented here.
Scoggin’s net income for 2017 was $154,700. Depreciation expense
was $23,300.
2017
2016
Current assets
Cash
$102,700
$97,700
Accounts receivable
109,400
80,000
Inventory
158,200
173,000
Prepaid expenses
26,900
25,900
Total current assets
$397,200
$376,600
Current liabilities
Accrued expenses payable
$15,000
$9,300
Accounts payable
84,000
95,600
Total current
liabilities
$99,000
$104,900
Prepare the net cash provided by operating activities section of
the company’s statement...
The current sections of Shamrock, Inc.’s balance sheets at
December 31, 2016 and 2017, are presented...
The current sections of Shamrock, Inc.’s balance sheets at
December 31, 2016 and 2017, are presented here. Shamrock, Inc.’s
net income for 2017 was $ 153,612. Depreciation expense was $
27,108.
2017
2016
Current assets
Cash
$ 105,420
$ 99,396
Accounts receivable
80,320
89,356
Inventory
168,672
172,688
Prepaid expenses
27,108
22,088
Total current assets
$ 381,520
$ 383,528
Current liabilities
Accrued expenses payable
$ 15,060
$ 5,020
Accounts payable
85,340
92,368
Total current liabilities
$ 100,400
$ 97,388
Prepare the...
Here is financial information for Glitter Inc.
Prepare horizontal analysis.
December 31, 2022
December 31, 2021...
Here is financial information for Glitter Inc.
Prepare horizontal analysis.
December 31, 2022
December 31, 2021
Current assets
$106,000
$ 90,000
Plant assets (net)
400,000
350,000
Current liabilities
99,000
65,000
Long-term liabilities
122,000
90,000
Common stock, $1 par
130,000
115,000
Retained earnings
155,000
170,000
Instructions
Prepare a schedule showing a horizontal analysis for 2022, using
2021 as the base year.
Exercise 13-5
The current sections of Scoggin Inc.’s balance sheets at
December 31, 2016 and 2017,...
Exercise 13-5
The current sections of Scoggin Inc.’s balance sheets at
December 31, 2016 and 2017, are presented here.
Scoggin’s net income for 2017 was $150,500. Depreciation expense
was $25,000.
2017
2016
Current assets
Cash
$107,500
$97,200
Accounts receivable
108,300
77,200
Inventory
159,000
172,100
Prepaid expenses
26,200
25,000
Total current assets
$401,000
$371,500
Current liabilities
Accrued expenses payable
$14,400
$8,100
Accounts payable
85,700
95,900
Total current liabilities
$100,100
$104,000
Prepare the net cash provided by operating activities section of
the...
The current assets and liabilities sections of the comparative
balance sheet of Sunland Inc., a private...
The current assets and liabilities sections of the comparative
balance sheet of Sunland Inc., a private company reporting under
ASPE, at October 31 are presented below, along with the income
statement:
SUNLAND
INC.
Comparative Balance Sheet Accounts
2021
2020
Cash
$59,400
$63,000
Accounts receivable
38,400
24,600
Inventory
19,500
27,600
Prepaid expenses
4,500
3,480
Accounts payable
25,800
21,600
Accrued expenses payable
3,000
4,800
Dividends payable
14,400
10,200
Income taxes payable
4,080
7,080
SUNLAND
INC.
Income Statement
Year Ended October 31, 2021...
Culver Company has these comparative balance sheet data:
CULVER
COMPANY
Balance Sheets
December 31
2022
2021...
Culver Company has these comparative balance sheet data:
CULVER
COMPANY
Balance Sheets
December 31
2022
2021
Cash
$ 48,700
$ 29,900
Accounts receivable (net)
71,300
66,700
Inventory
70,300
58,600
Plant assets (net)
185,800
172,000
$376,100
$327,200
Accounts payable
$ 50,200
$ 55,400
Mortgage payable (15%, due in 15 years)
94,100
123,900
Common stock, $10 par
172,800
100,600
Retained earnings
59,000
47,300
$376,100
$327,200
Additional information for 2022:
1.
Net income was $21,800.
2.
Sales on account were $426,000. Sales returns...
The comparative balance sheets of Timothy, Inc., are presented
for December 31, 2019, and December 31,...
The comparative balance sheets of Timothy, Inc., are presented
for December 31, 2019, and December 31, 2018, (in thousands of
dollars). Timothy, Inc. earned $25 thousand after taxes in 2019,
incurred depreciation expense of $19 thousand, and paid common
dividends of $16 thousand.
Equipment costing $12 thousand was purchased during the
year.
2019
2018
Cash
$ 66
$ 67
Accounts receivable, net
91
86
Inventories
43
39
Current assets
$ 200
$ 192
Net property, plant and equipment...
Simon Company's year-end balance sheets follow.
At December 31
Current Yr
1 Yr Ago
2 Yrs...
Simon Company's year-end balance sheets follow.
At December 31
Current Yr
1 Yr Ago
2 Yrs Ago
Assets
Cash
$
36,724
$
43,360
$
44,273
Accounts receivable, net
106,437
73,604
60,801
Merchandise inventory
132,473
99,268
63,502
Prepaid expenses
12,304
11,610
5,018
Plant assets, net
340,789
314,164
273,606
Total assets
$
628,727
$
542,006
$
447,200
Liabilities and Equity
Accounts payable
$
151,856
$
91,599
$
58,440
Long-term notes payable secured by
mortgages on plant assets
115,837
124,661
98,831
Common stock,...