9. A note receivable in the amount of $100,000 plus interest of
$1,500 was paid-off by...
9. A note receivable in the amount of $100,000 plus interest of
$1,500 was paid-off by the borrower. Assets = Liabilities +
Stockholders' Equity Statement of Cash Flow = + Common Stock +
Retained Earnings REV - EXP - DIV = + + - - 100,000 -10,000 N/A
-1,500 10. A new client discusses various payment options
A note receivable in the amount of $100,000 plus
interest of $1,500 was paid-off by the borrower.
Assets
=
Liabilities
+
Stockholders' Equity...
AAA Consulting Services collected $6,000 cash for services to be
provided in the future. Which of...
AAA Consulting Services collected $6,000 cash for services to be
provided in the future. Which of the following shows how
recognizing the cash receipt will affect the company’s ledger
accounts?
A.
Assets
=
Liabilities
+
Stockholders’ Equity
Cash
+
Prepaid
Rent
=
Unearned
Revenue
+
Common
Stock
+
Retained
Earnings
6,000
6,000
B.
Assets
=
Liabilities
+
Stockholders’ Equity
Cash
+
Prepaid
Rent
=
Unearned
Revenue
+
Common
Stock
+
Retained
Earnings
(6,000)
6,000
C.
Assets
=
Liabilities
+
Stockholders’...
Solve the following problem. Especially Stuck on 11 Asset
Turnover,12 Return on total asset and 13...
Solve the following problem. Especially Stuck on 11 Asset
Turnover,12 Return on total asset and 13 Return on stockholders
equity
Determine the following measures for 20Y2 (round to one decimal
place, including percentages, except for per-share amounts):
1. Working Capital
$
2. Current ratio
3. Quick ratio
4. Accounts receivable turnover
5. Number of days' sales in receivables
6. Inventory turnover
7. Number of days’ sales in inventory
8. Ratio of fixed assets to long-term liabilities
9. Ratio of liabilities...
Exercise 15-10
[Partially correct answer.] Your answer is partially correct.
Try again.
For a recent 2-year...
Exercise 15-10
[Partially correct answer.] Your answer is partially correct.
Try again.
For a recent 2-year period, the balance sheet of Buffalo Company
showed the following stockholders’ equity data at December 31 (in
millions).
2017
2016
Additional paid-in capital $ 960 $ 818
Common stock 669 663
Retained earnings 7,150 5,260
Treasury stock 1,900 900
Total stockholders’ equity $6,879 $5,841
Common stock shares issued 223 221
Common stock shares authorized 500 500
Treasury stock shares 38 25
(a) Answer the...
Seven metrics
The following data were taken from the financial statements of
Woodwork Enterprises Inc. for...
Seven metrics
The following data were taken from the financial statements of
Woodwork Enterprises Inc. for the current fiscal year. Assuming
that there are no intangible assets.
Property, plant, and equipment (net)
$ 5,000,000
Liabilities:
Current liabilities
$ 400,000
Mortgage note payable, 5%, ten-year note issued two years
ago
3,600,000
Total liabilities
$4,000,000
Stockholders' equity:
Preferred $1 stock, $10 par (no change during year)
$1,000,000
Common stock, $5 par (no change during year)
2,000,000
Retained earnings:
Balance, beginning of year...
Record adjustments for the month of June that reflect the
following data. Provide explanations for specific...
Record adjustments for the month of June that reflect the
following data. Provide explanations for specific revenue and
expense accounts in the right-most column. (If a
transaction results in a decrease in Assets, Liabilities or
Stockholders' Equity, place a negative sign (or parentheses) in
front of the amount entered for the particular Asset, Liability or
Equity item that was reduced.)
1.
Supplies on hand at June 30 total $720.
2.
A utility bill for $250 has not been recorded and...
Vertical Analysis of Balance Sheet
Balance sheet data for a company for the years ended December...
Vertical Analysis of Balance Sheet
Balance sheet data for a company for the years ended December
31, 20Y2 and 20Y1, are shown below.
20Y2
20Y1
Current assets
$ 1,500,000
$ 1,200,000
Property, plant, and equipment
12,500,000
10,800,000
Intangible assets
2,000,000
2,000,000
Current liabilities
1,000,000
850,000
Long-term liabilities
3,000,000
2,400,000
Common stock
2,500,000
2,500,000
Retained earnings
9,500,000
8,250,000
Prepare a comparative balance sheet for 20Y2 and 20Y1, stating
each asset as a percent of total assets and each liability and
stockholders’...
Here are incomplete financial statements for Ivanhoe
Company.
Calculate the missing amounts.
IVANHOE COMPANY
Balance Sheet...
Here are incomplete financial statements for Ivanhoe
Company.
Calculate the missing amounts.
IVANHOE COMPANY
Balance Sheet
Assets
Cash
$ 14,200
Inventory
17,200
Buildings
37,800
Total assets
$69,200
Liabilities and Stockholders' Equity
Liabilities
Accounts payable
$ 5,700
Stockholders' Equity
Common stock
enter a dollar amount
(a)
Retained earnings
enter a dollar amount
(b)
Total liabilities and stockholders' equity
$69,200
IVANHOE COMPANY
Income Statement
Revenues
$84,900
Cost of goods sold
enter a dollar amount
(c)
Salaries and wages expense
10,070
Net income...
INSTRUCTIONS - For each of the following twenty (20) accounts of
Absorka Company, indicate which financial...
INSTRUCTIONS - For each of the following twenty (20) accounts of
Absorka Company, indicate which financial statement the item
belongs on, the classification or sub-classification (for assets
& liabilities) of the account and the account’s normal balance.
The first row is an example.
Financial Statements: Balance Sheet
(BS), Income Statement (IS),
Retained Earnings Statement (RE)
Account Classification (if an account is a contra
account, be sure to state "contra" in front of the account
classification, i.e. contra long-term liability):
Current...