A company's trial balance included the following account
balances: Accounts payable $19,257 Accounts receivable 81,386 Cash...
A company's trial balance included the following account
balances: Accounts payable $19,257 Accounts receivable 81,386 Cash
73,374 Income tax payable 3,562 Inventories 25,866 Note payable,
due in two years 1,759 Equipment 54,628 Stockholders' equity
203,308 Supplies 5,562 Wages payable 12,930
What is the amount of the current ratio (round to two decimal
places)? 5.21, 1.00, 4.99 or 2.01
S Company reported net
income for 2018 in the amount of $470,000. The company's financial
statements...
S Company reported net
income for 2018 in the amount of $470,000. The company's financial
statements also included the following:
Increase in
accounts receivable
$
77,000
Decrease in
inventory
64,000
Increase in
accounts payable
230,000
Depreciation
expense
104,000
Gain on sale of
land
149,000
What is net cash provided by operating activities under the
indirect method?
Gross plant & equipment 5,000,000
Accounts payable 230,000
Inventories 200,000
Other current liabilities 80,000
Net accounts...
Gross plant & equipment 5,000,000
Accounts payable 230,000
Inventories 200,000
Other current liabilities 80,000
Net accounts receivable 550,000
Accrued expenses 90,000
Accumulated depreciation 110,000
Long-term debt 4,000,000
Cash 310,000
Prepare a balance sheet. What does this tell you?
Cash $66,500 $50,500 Accounts receivable (net) 91,000 59,000
Inventories 91,000 111,000 Plant assets (net) 381,500 321,000...
Cash $66,500 $50,500 Accounts receivable (net) 91,000 59,000
Inventories 91,000 111,000 Plant assets (net) 381,500 321,000
Accounts payable 54,500 40,000 Salaries and wages payable 10,000
4,500 Bonds payable 69,000 69,500 8% Preferred stock, $40 par
100,000 100,000 Common stock, $10 par 120,000 90,000 Paid-in
capital in excess of par 80,000 70,000 Retained earnings 196,500
167,500 Net credit sales 930,000 Cost of goods sold 705,000 Net
income 81,000 Compute the following ratios: (Round answers to 2
decimal places e.g. 15.25.) (a)...
please answer the below
Which of the following is not an adjustment to
net income when...
please answer the below
Which of the following is not an adjustment to
net income when deriving cash from operating activities?
Depreciation
Change in investments
Gains/losses from selling investments or PP&E
Change in current assets
Please use the following information extracted from the
financial statements of Fun, Inc., for 2010, 2009, and 2008.
2010
2009
Net sales
$233,000
$204,000
Cost of sales
(124,000)
(110,000)
Selling and administrative expenses
(95,000)
(81,500)
Other income:
Interest
(3,700)
(3,050)
Other
100
1,175
Earnings before...
1112.Lense Laboratories' net income was $320,000. Given the
account information below, what is the net cash...
1112.Lense Laboratories' net income was $320,000. Given the
account information below, what is the net cash flows from
operating activities for Lense Laboratories?
Increase in Accounts Receivable
$
64,000
Increase in Salaries Payable
$
54,500
Decrease in Inventory
$
35,500
Depreciation Expense
$
48,500
Increase in Prepaid Insurance
$
3,900
Multiple Choice
A.$327,400
B.$409,600
C.$390,600
D.$526,400
1. Why do we need to add back to net income non-cash
transactions and changes in...
1. Why do we need to add back to net income non-cash
transactions and changes in working capital assets when using the
indirect method?
2. A company used cash for both operating and investing
activities, but had a positive cash flow from financing activities.
What does this cash flow pattern suggest about this
company?
3. Sales for Harlem Tool & Die during 20X1 was
$600,000, 75% of them on credit and 25% for cash. During the year,
accounts receivable increased...
Use the data from the following financial statements
What are the net fixed assets for the...
Use the data from the following financial statements
What are the net fixed assets for the years 2013 and 2014?
The net fixed assets for the year 2013 is
please explain a step by step process
Partial Income Statement Year Ending 2014
Sales
revenue
$350,000
Cost of
goods sold
$140,000
Fixed
costs
$43,000
Selling,
general, and administrative expenses
$28,000
Depreciation
$46,000
Partial
Balance Sheet 12/31/2013
ASSETS
LIABILITIES
Cash
$16,000
Notes
payable
$14,000
Accounts
receivable
$28,000
Accounts
payable
$19,000
Inventories
$48,000...