USE THE FOLLOWING INFORMATION TO CONSTRUCT AN INCOME STATEMENT
AND BALANCE SHEET FOR 2011. ASSUME THE...
USE THE FOLLOWING INFORMATION TO CONSTRUCT AN INCOME STATEMENT
AND BALANCE SHEET FOR 2011. ASSUME THE TAX RATE IS 40%. (COMMON
EQUITY IS A PLUG IN NUMBER)
ITEM
2010
2011
SALES
10,000
12,000
DEPRECIATION
3,000
3,000
COST OF GOODS SOLD
2,000
2,000
OTHER EXPENSES
3,000
4,000
INTEREST
1,000
1,000
CASH
1,000
1,000
ACCOUNTS RECEIVABLE
3,000
3,000
S.T. NOTES PAYABLE
1,000
1,000
L.T. DEBT
10,000
11,000
NET FIXED ASSETS
20,000
20,000
ACCOUNTS PAYABLE
2,000
2,000
INVENTORY
3,000
3,000
DIVIDENDS
600
600...
(Working with an income statement and balance sheet)
Prepare a balance sheet and income statement for...
(Working with an income statement and balance sheet)
Prepare a balance sheet and income statement for Kronlokken
Company from the scrambled list of items shown in the popup
window,
Depreciation expense 66,000
Cash 225,000
Long-term debt 334,000
Sales 573,000
Accounts payable 102,000
General and administrative expenses 79,000
Buildings and equipment 895,000
Notes payable 75,000
Accounts receivable 153,000
Interest expense 4,750
Accrued operating expenses 7,900
Common stock 289,000
Cost of goods sold 297,000
Inventory 99,300
Taxes 50,500
Accumulated depreciation -263,000
Prepaid...
Balance Sheets for the Years Ending Dec.
31, 2011 and 2012
2011
2012
Cash
300...
Balance Sheets for the Years Ending Dec.
31, 2011 and 2012
2011
2012
Cash
300
400
Accounts receivable
1,000
1,400
Inventories
3,200
3,000
Current assets
4,500
4,800
Net fixed assets
3,800
4,300
Total assets
8,300
9,100
Notes payable
400
300
Accounts payable
700
500
Accruals
50
80
Current portion of long-term debt
70
80
Current liabilities
1,220
960...
The balance sheet and income statement for the A. Thiel Mfg.
Company are as follows:
Balance...
The balance sheet and income statement for the A. Thiel Mfg.
Company are as follows:
Balance Sheet ($000)
Cash
$ 500
Accounts receivable
2,000
Inventories
1,000
Current assets
$3,500
Net fixed assets
4,500
Total assets
$8,000
Accounts payable
$1,100
Accrued expenses
600
Short-term notes payable
300
Current liabilities
$2,000
Long-term debt
2,000
Owners’ equity
4,000
Total liabilities and owners’ equity
$8,000
Income Statement ($000)
Sales (all credit)
$8,000
Cost of goods sold
(3,300)
Gross profit
$4,700
Operating expenses (includes $500...
Some recent financial statements for Smolira Golf Corp.
follow.
SMOLIRA GOLF
2011 and 2012 Balance...
Some recent financial statements for Smolira Golf Corp.
follow.
SMOLIRA GOLF
2011 and 2012 Balance Sheets
Assets
Liabilities and Owners’ Equity
2011
2012
2011
2012
Current assets
Current liabilities
Cash
$
24,096
$
24,600
Accounts payable
$
23,684
$
27,600
Accounts receivable
12,948
15,700
Notes payable
14,000
11,300
Inventory
26,242
27,600
Other
12,071
18,100
Total
$
63,286
$
67,900
Total
$
49,755
$
57,000
Long-term debt
$
74,000
$
82,000
Owners’ equity
Common stock and paid-in
surplus
$
48,000...
(Working with an
income statement) Prepare a balance sheet and income statement for
Belmond Inc. from...
(Working with an
income statement) Prepare a balance sheet and income statement for
Belmond Inc. from the information in the following table.
Hint: Use the
accumulated depreciation account as a negative value. Retained
earnings may not be needed for the question.
Inventory
$6,762
Common stock
$46,586
Cash
$14,589
Short-term notes payable
$666
Interest expense
$876
Depreciation expense
$493
Sales
$11,883
Accounts receivable
$9,603
Accounts payable
$4,953
Long-term debt
$55,544
Cost of goods sold
$5,587
Buildings and equipment
$123,116
Accumulated depreciation...
The following table shows an abbreviated income statement and
balance sheet for McDonald's Corporation for 2012....
The following table shows an abbreviated income statement and
balance sheet for McDonald's Corporation for 2012.
INCOME STATEMENT OF MCDONALD’S CORP., 2012
(Figures in $ millions)
Net sales
27,572
Costs
17,574
Depreciation
1,407
Earnings before interest and taxes (EBIT)
8,591
Interest expense
522
Pretax income
8,069
Taxes
2,624
Net income
5,445
BALANCE SHEET OF
MCDONALD’S CORP., 2012
(Figures in $
millions)
Assets
2012
2011
Liabilities and Shareholders' equity
2012
2011
Current assets
Current liabilities
Cash and marketable securities
2,341
2,341...
Balance Sheets for the Years Ending Dec.
31, 2011 and 2012
2011
2012
Cash
300...
Balance Sheets for the Years Ending Dec.
31, 2011 and 2012
2011
2012
Cash
300
400
Accounts receivable
1,000
1,400
Inventories
3,200
3,000
Current assets
4,500
4,800
Net fixed assets
3,800
4,300
Total assets
8,300
9,100
Notes payable
400
300
Accounts payable
700
500
Accruals
50
80
Current portion of long-term debt
70
80
Current liabilities
1,220
960...
Some recent financial statements
for Smolira Golf Corp. follow.
SMOLIRA GOLF
2011 and 2012 Balance...
Some recent financial statements
for Smolira Golf Corp. follow.
SMOLIRA GOLF
2011 and 2012 Balance Sheets
Assets
Liabilities and Owners’ Equity
2011
2012
2011
2012
Current assets
Current
liabilities
Cash
$
23,066
$
25,300
Accounts payable
$
24,384
$
28,300
Accounts receivable
13,648
16,400
Notes payable
14,000
12,000
Inventory
27,152
28,300
Other
12,771
19,700
Total
$
63,866
$
70,000
Total
$
51,155
$
60,000
Long-term debt
$
81,000
$
90,000
Owners’ equity
Common stock and paid-in
surplus
$
55,000...
The balance sheet and income statement for Rocket Corporation
are as follows: Balance Sheet as of...
The balance sheet and income statement for Rocket Corporation
are as follows: Balance Sheet as of December 31, 2019 ASSETS
LIABILITIES & EQUITY Cash & marketable sec. $3,500 Accounts
payable $38,000 Accounts Receivable 47,000 Taxes payable 9,000
Inventory 13,000 Short-term borrowings 20,500 Total current assets
$63,500 Total current liabilities $67,500 Net P,P & E $452,000
Long-term debt $200,000 Total liabilities $267,500 Common stock at
par $80,000 Additional paid-in capital $45,000 Retained earnings
$123,000 TOTAL ASSETS $515,500 TOTAL LIABILITIES & EQUITY...