4. Clearly state the impact of the following events on Hal's Balance Sheet and show the impact on specific line items in the year-end 2022 balance sheet: FOR EXAMPLE: The company sells $5,000 of equipment in 2021... The resulting value of the equipment would decline by $5,000 to $295,000 and the amount of the cash would increase by $5,000 to $105,000 and there would be no change to liabilities or shareholders' equity. a. The company uses $50,000 of cash to pay off the short-term debt on 1/1/2022 Over the year, the company collects all of its accounts receivable but, by the end of the year the company has new accounts receivable of $25K b. Over the year, the company sells all of its inventories and buys another $25K of inventories that it has on the shelf at the end of 2022 d. The company uses cash to buy another ice cream cart on 12/30/2022 for $25K e. On January 1, the company takes out a new long-term loan for $500,000. The company uses the loan proceeds to pay off the old long-term loan. Assume there are no other year-over-year changes at the company. C.

4. Clearly state the impact of the following events on Hal's Balance Sheet and show the impact on specific line items in the year-end 2022 balance sheet: FOR EXAMPLE: The company sells $5,000 of equipment in 2021... The resulting value of the equipment would decline by $5,000 to $295,000 and the amount of the cash would increase by $5,000 to $105,000 and there would be no change to liabilities or shareholders' equity. a. The company uses $50,000 of cash to pay off the short-term debt on 1/1/2022 Over the year, the company collects all of its accounts receivable but, by the end of the year the company has new accounts receivable of $25K b. Over the year, the company sells all of its inventories and buys another $25K of inventories that it has on the shelf at the end of 2022 d. The company uses cash to buy another ice cream cart on 12/30/2022 for $25K e. On January 1, the company takes out a new long-term loan for $500,000. The company uses the loan proceeds to pay off the old long-term loan. Assume there are no other year-over-year changes at the company. C.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 10SPA: RATIO ANALY SIS OF COMPARATI VE FIN ANCIAL STATE MENT S Refer to the financial statements in Problem...

See similar textbooks

Similar questions

Category Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year 3,106.00 5,972.00 6,919.00 8,940.00 5,691.00 6,099.00 20,212.00 13,343.00 ??? ??? 2,850 18,751.00 500 2,850 22,826.00 500 965.00 1,016.00 1,259.00 1,123.00 3,086.00 6,750.00 16,982.00 22,296.00 75,731.00 73,844.00 4,053.00 6,596.00 19,950 20,000 35,937.00 34,762.00 46,360 45,530.00 350 920 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.
Ch: Analyzing Financial Statements The current year financial statement for sand and Juffair companies are presented below. Balance sheet at 31 Dec 2019 Item Cash Account receivable (net) Inventory Property & equipment (net) Other assets Total assets Current liabilities Long-term debt (interest rate: 10%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity Income statement at 31 Dec 2019 item Sales revenue (1/3 on credit) (-) Cost of goods sold (-) Operating expenses Net income Other data item Per share stock price at end of current year Average income tax rate Dividends declared and paid in current year Sand 45000 45000 95000 160000 90000 435000 95000 75000 155000 40000 70000 435000 Sand 440000 230000 159000 51000 Sand 23 30% 34000 Juffair 22000 35000 45000 415000 320000 837000 65000 65000 522000 110000 75000 837000 Juffair 800000 399000 315000 86000 Juffair 25 30% 153000 Both companies are in the fish catching and…
The following information relates to Basic Lid. for the year ended 31" December 2021: Net working capital RO. 1.200.000 Fixed assets to proprietor's fund ratio 0.75 Working capital turnover ratio 5 timeg Return on Equity 15% Current liabilities RO. 400.000 Long term Debts 0 You are required to calculate: Proprietor's funds Fixed Assets Current assets Net profit ratio Current ratio
Fiscal Year Ended Make-ThemCorporation Consolidated Balance Sheet (in thousands except share data) Current assets: Cash and cash equivalents Accounts receivable, net Inventories Prepaid expenses and other current assets Deferred income taxes, net Total current assets Property, plant and equipment, net Other assets TOTAL ASSETS Current liabilities: Accounts payable Accrued compensation and related costs Accrued taxes Current portion of long-term debt ASSETS Total current liabilities Long-term debt $ LIABILITIES AND SHAREHOLDERS' EQUITY Total liabilities Shareholders' equity: Common stock ($0.1 par value)-authorized, 4,000,000 shares; issued and outstanding, 3,500,000. Paid-in capital in excess of par Retained earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY Dec. 31, 2008 $ S $ 369 58 489 107 43 1,066 5,137 1,168 7,371 429 104 132 89 754 2,630 3,384 **** 2,415 1,222 3,987 7,371 $ $ S Dec. 31, 2007 Assume the following information for both years: Net Profit…
O Accounts payable Accounts receivable Accruals Category Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Not fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year 3,153.00 5,992.00 6,936.00 9,031.00 5,792.00 6,116.00 20,429.00 13,896.00 ??? Category 222 2,850 22,561.00 500 952.00 4,008.00 46,360 350 What is the firm's cash flow from financing? 1,259.00 1,120.00 3,060.00 6,658.00 16,820.00 22,100.00 75,431.00 74,071.00 6,567.00 19,950 20,000 35,524.00 34,531.00 45,432.00 2,850 Submit 18,594.00 500 1,019.00 920 Answer format: Number: Round to: 0 decimal places
Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 $3,704,000 $ 600,000 Retained earnings, January 1 Net income Dividends: On preferred stock On common stock Increase in retained earnings Retained earnings, December 31 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses (10,000) (100,000) $ 490,000 $4,194,000 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 Operating income Other revenue and expense: Other revenue Other expense (interest) Income before income tax expense Income tax expense Net income 20Y1 $3,264,000 $ 550,000 (10,000) (100,000) $ 440,000 $3,704,000 $ 10,850,000 (6,000,000) $ 4,850,000 $ (2,170,000) (1,627,500) $(3,797,500) $…
Current Attempt in Progress XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g.…
! Required information Problem 12-6A (Algo) Use ratios to analyze risk and profitability (LO12-3, 12-4) [The following information applies to the questions displayed below.] Income statements and balance sheets data for Virtual Gaming Systems are provided below. Net sales Cost of goods sold Gross profit Expenses: VIRTUAL GAMING SYSTEMS Income Statements For the Years Ended December 31 2025 $3,495,000 2,477,000 1,018,000 Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income 952,000 27,000 16,500 7,700 1,003, 200 14,800 2024 $3,021,000 1,947,000 1,074,000 855,000 25,500 7,700 13,500 46,500 948, 200 125,800
Cash Accounts receivable Short-term debt investments (available-for-sale) Inventory Prepaid rent Equipment Accumulated depreciation-equipment Copyrights Total assets Accounts payable Income taxes payable Salaries and wages payable Short-term loans payable Long-term loans payable Common stock. $10 par Contributed capital, common stock Retained earnings Total liabilities & stockholders' equity Sales revenue Cost of goods sold Gross profit AYAYAI INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2017 Operating expenses Operating income 12/31/17 12/31/16 $6,000 $5,900 52,400 50,800 35,100 10,100 40.100 60,400 5,100 4,000 152,400 131,000 (34,700) (24,000) 45,500 49,900 $311,900 $296,300 Interest expense Gain on sale of equipment Income before tax Income tax expense Net income $45,900 $39,900 4,000 6,000 8,100 4,000 8,100 10,000 59,500 68,700 100,000 100,000 30,000 30,000 56.300 37,700 5311,900 $296,300 $11,400 2,000 $337,125 176,500 160,625 120,500 40,025 9,400 30,625 6,125 $24,500…
Vertical Analysis of Balance Sheet Balance sheet data for a company for the years ended December 31, 20Y2 and 20Y1, are shown below. 20Y2 20Υ1 Current assets $ 752,000 $ 602,000 Property, plant, and equipment 6,248,000 5,397,000 Intangible assets 1,000,000 1,001,000 Current liabilities 504,000 427,000 Long-term liabilities 1,504,000 1,197,000 Common stock 1,248,000 1,253,000 Retained earnings 4,744,000 4,123,000 | Prepare a comparative balance sheet for 20Y2 and 20Y1, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. Round your answers to one decimal place. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 Amount 20Y2 Percent 20Y1 Amount 20Y1 Percent Assets Current assets $752,000 % $602,000 % Property, plant, and equipment 6,248,000 5,397,000 Intangible assets 1,000,000 1,001,000
Some selected financial statement items belonging to MNO Company are given in the table below. According to this information, which of the following is Return on Assets (ROA) in 2021? Inventory 12,500Total Assets in 2021 110,000Current Liabilities 40,000Total Assets in 2020 90,000Net Profit 12,000Shareholders' Equity 65,000 Select one:a. 0.12b. 0.10c. 0.18d. 0.13
12 -ok 7 int Required Information [The following information applies to the questions displayed below.] Income statement and balance sheet data for The Athletic Attic are provided below. Net sales Cost of goods sold Gross profit Expenses: THE ATHLETIC ATTIC Income Statements For the Years Ended December 31 Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net income Assets Current assets: Cash Accounts receivable Inventory Supplies Long-term assets; Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable 2825 $ 10,680,000 6,980,000 3,700,000 1,620,000 200,000 42,000 424,000 2,286,000 $ 1,414,000 2024 $9,100,000 Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 5,600,000 3,500,000 1,570,000 200,000 42,000 370,000 2,182,000 $1,318,000 THE ATHLETIC ATTIC…