Below are the balance sheet accounts
and balances for The Cougar Hotel for the years 20X7...
Below are the balance sheet accounts
and balances for The Cougar Hotel for the years 20X7
and 20X8, please complete the
following:
1.
Organize the information into the correct Balance Sheet
Format. Proper format
includes:
a. Headings
b. Dates
c.
Subtotals/Totals
d. Vertical
Analysis
e. Horizontal
Analysis
20X7
20X8
Accounts
Payable
100,000
500,000
Accounts
Receivable
500,000
100,000
Accumulated
Depreciation
(7,000,000) (12,000,000)
Building
20,000,000 25,000,000
Cash
600,000
400,000
Common
Stock
20,000,000 25,000,000
Current Portion of
Mortgage
1,250,000
1,250,000
Equipment
10,000,000 12,000,000...
Cougar Computer Corporation currently manufactures the disk
drives that it uses in its computers. The costs...
Cougar Computer Corporation currently manufactures the disk
drives that it uses in its computers. The costs to produce 5,000 of
these disk drives last year were as follows:
Cost per drive
Direct materials
$
12
Direct labor
2
Variable manufacturing overhead
5
Fixed manufacturing overhead
7
Total
$
26
Kidal Electronics has offered to
provide Cougar with all of its disk drive needs for $27 per drive.
If Cougar accepts this offer, Cougar will be able to use the freed...
Castaway Co.
Balance Sheet
Assets:
20X1
20X2
Cash
100,000
100,000
Accounts Receivable
48,000
30,000
Inventory
65,000...
Castaway Co.
Balance Sheet
Assets:
20X1
20X2
Cash
100,000
100,000
Accounts Receivable
48,000
30,000
Inventory
65,000
50,000
Prepaid Rent
6,000
12,000
Equipment
125,000
300,000
Accumulated Dep
25,000
35,000
BV of Equipment
100,000
265,000
Land
50,000
20,000
Total Assets
$ 369,000
$ 477,000
Castaway Co.
Income Statement
for 20X2
Revenues
$ 200,000
COGS
75,000
Gross Profit
125,000
Insurance Expense
5,000
Rent Expense
6,000
Supplies Expense
5,000
Depreciation Expense
10,000
Interest Expense
8,000
Net Income
$ 91,000
What is cash paid for...
Use
the following information to calculate the value of Debt to
tangible net worth ratio is:...
Use
the following information to calculate the value of Debt to
tangible net worth ratio is: Stockholders' equity 1,800,000,
Current assets 1,870,000,Tangible assets, net 1,600,000Intangible
assets 40,000, Investments 120,000, Other assets 90,000.
Profit-Linked Productivity Measurement
In 20x2, Choctaw Company implements a new process affecting
labor and materials.
Choctaw...
Profit-Linked Productivity Measurement
In 20x2, Choctaw Company implements a new process affecting
labor and materials.
Choctaw Company provides the following information so that total
productivity can be valued:
20x1
20x2
Number of units produced
570,000
480,000
Labor hours used
190,000
240,000
Materials used (lbs.)
2,850,000
1,600,000
Unit selling price
$21
$23
Wages per labor hour
$13
$15
Cost per pound of material
$3.80
$3.90
Required:
1. Calculate the cost of inputs in 20x2,
assuming no productivity change from 20x1 to...
Leonard and Michelle have asked you to prepare their statement
of changes in net worth for...
Leonard and Michelle have asked you to prepare their statement
of changes in net worth for the year ended August 31, 20X3. They
have prepared the following comparative statement of financial
condition based on estimated current values as required by ASC 274:
LEONARD AND MICHELLE Statement of Financial Condition August 31,
20X3 and 20X2 20X3 20X2 Assets Cash $ 4,300 $ 7,400 Marketable
securities 5,600 17,700 Residence 96,200 88,900 Personal effects
10,700 10,700 Cash surrender value of life insurance 3,900...
question: Summary Balance Sheets for Buckley Boat Repairs Ltd
are given below:
31 Dec 20x2
31...
question: Summary Balance Sheets for Buckley Boat Repairs Ltd
are given below:
31 Dec 20x2
31 Dec 20x1
cash
138,240
92,160
Accounts receivable
36,864
55,296
Inventory
147,456
202,752
Plant & Equipment
110,592
82,944
Total assets
433,152
433,152
Accounts payable
64,512
27,648
Wages payable
73,729
119,808
Non-current liabilities
82,944
110,592
Share capital
92,160
92,160
Retained profits
119,808
82,944
Total liabilities and owners equity
433,152
433,152
The following information has been extracted from the company's
income statement for the year ended 31...
During 2017, Blue Design purchased a number of investments in
equity securities for liquidity management. The...
During 2017, Blue Design purchased a number of investments in
equity securities for liquidity management. The investments are
minority passive, and described below:
Trading Security
Fair Value – 12/31/2018
Fair Value – 12/31/2017
Cost
ABC Equity
$123,000
$99,000
$65,000
XYZ Equity
$98,000
$178,000
$58,000
ABC posted earnings of $22,000 and XYZ
posted earnings of $28,000. These investments were not sold during
the year. What is the total for the net unrealized gain/loss shown
on the income statement in 2018 for...
Accounting for Investments Using the Cost and Equity Methods
On 1/1/x1, Omega Corporation’s net worth was...
Accounting for Investments Using the Cost and Equity Methods
On 1/1/x1, Omega Corporation’s net worth was as follows:
Common stock (15,000 shares, $10 par
value)
$150,000
Additional paid-in
capital
30,000
Retained
Earnings
60,000
Total
$240,000
On 1/1/14, Alpha, Inc. purchased 3,000 shares of Omega
Corporation at a price of $29 per share. Omega Corporation’s equity
securities are not readily marketable. Alpha could not attribute
any of the excess cost over book value to any...