Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assots Cash Accounts receivable Inventory Plant and equipment, not Investment in Buisson, S.A. Land (undeveloped) Total asseta Liabilities and stockholders Equity Accounts payable Long-term debt Stockholders' equity Joel de Paris, Incorporated Income Statement $360,000 1,500,000 160,000 Total liabilities and stockholders equity $2,020,000 Salos Operating expenses Net operating income- Interest and taxes Interest expense Tax expense Net income Beginning. Balance $ 150,000 110,000 $140,000. 450,000 320,000 680,000 250,000 100,000 $2,020,000 $4,050,000 3,645,000 405,000 260,000 $145,000 Ending Balance < Prev $ 120,000 530,000 380,000 620,000 200,000 170,000 $2,100,000 $310,000) 1,500,000 290,000 $2,100,000 The company paid dividends of $15,000 last year, The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15% 5 of 6 Next >

Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assots Cash Accounts receivable Inventory Plant and equipment, not Investment in Buisson, S.A. Land (undeveloped) Total asseta Liabilities and stockholders Equity Accounts payable Long-term debt Stockholders' equity Joel de Paris, Incorporated Income Statement $360,000 1,500,000 160,000 Total liabilities and stockholders equity $2,020,000 Salos Operating expenses Net operating income- Interest and taxes Interest expense Tax expense Net income Beginning. Balance $ 150,000 110,000 $140,000. 450,000 320,000 680,000 250,000 100,000 $2,020,000 $4,050,000 3,645,000 405,000 260,000 $145,000 Ending Balance < Prev $ 120,000 530,000 380,000 620,000 200,000 170,000 $2,100,000 $310,000) 1,500,000 290,000 $2,100,000 The company paid dividends of $15,000 last year, The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15% 5 of 6 Next >

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 5RE

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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…
The balance sheet for Zachary Corporation follows: Current assets. Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity Required Compute the following. Note: Round ratios to 1 decimal place. Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio % $ 234,000 770,000 $ 1,004,000 $ 141,000 456,000 597,000 407,000 $ 1,004,000
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Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 150,000 110,000 Beginning Balance $ 140,000 450,000 $ 120,000 530,000 320,000 380,000 680,000 620,000 280,000 250,000 180,000 170,000 $ 2,020,000 $ 2,100,000 $ 360,000 1,500,000 160,000 $ 2,020,000 $ 4,050,000 3,645,000 405,000 260,000 $ 145,000 Ending Balance $ 310,000 1,500,000 290,000 $ 2,100,000 The company paid dividends of $15,000 last year. The “Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The…
Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 113,000 192,000 $ 4,268,000 3,627,800 640, 200 305,000 $ 335,200 Beginning Balance $ 140,000 340,000 580,000 860,000 397,000 255,000 $ 2,572,000 Ending Balance $ 140,000 474,000 474,000 872,000 435,000 245,000 $ 2,640,000 $ 346,000 $ 372,000 990,000 1,210,000 990,000 1,304,000 $ 2,572,000 $ 2,640,000 The company paid dividends of $241,200 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The…
Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 113,000 191,000 $ 4,180,000 3,636,600 543,400 1. Average operating assets 2. Margin 2. Turnover 2. ROI 3. Residual income 304,000 $ 239,400 Beginning Balance % $ 139,000 345,000 578,000 818,000 395,000 246,000 $ 2,521,000 % $ 384,000 1,034,000 1,103,000 $ 2,521,000 The company paid dividends of $114,400 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return…
Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 115,000 191,000 1. Average operating assets 2. Margin 2. Turnover 2. ROI 3. Residual income Beginning Balance $ 125,000 347,000 579,000 799,000 407,000 251,000 $ 2,508,000 $ 5,049,000 4,291,650 757,350 $385,000 967,000 1,156,000 $ 2,508,000 306,000 $ 451,350 % % Ending Balance $ 137,000 484,000 489,000 780,000 The company paid dividends of $347,350 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company.…
ancial statements of Calloway. Co nly please Requirea inrormauon (The following information applies to the questions displeyed below} The financiai statementsiof Calia and corresponding antounSI ASSets $850 Beginning Reteined Earian mpany prepated et the end of the cutrent year contained the foallowing elements $22 000 Liablities 2 Common Stock = $5,200, Revenue= $11.4O0 Dividends $3.850 Encing Retained Earmings $7200. Based on this informaion what kekinses repertea on Caloway's ircome statement tot the cuttent year? Mutple Cholce $14.400 $7.200 $3.350 s8.050 search
On January 1, Park Corporation and Strand Corporation had condensed balance sheets as follows: Current assets Noncurrent assets Total assets Current liabilities Long-term debt Stockholders' equity Total liabilities and equities Items a. Current assets b. Noncurrent assets Park c. Current liabilities d. Noncurrent liabilities e. Stockholders' equity Strand $ 118,250 $ 37,000 98,500 *** $ 216,750 $ 81,500 $ 50,250 $ 31,500 74,500 92,000 $ 216,750 44,500 On January 2, Park borrowed $65,200 and used the proceeds to obtain 80 percent of the outstanding common shares of Strand. The acquisition price was considered proportionate to Strand's total fair value. The $65,200 debt is payable in 10 equal annual principal payments, plus interest, beginning December 31. The excess fair value of the investment over the underlying book value of the acquired net assets is allocated to inventory (60 percent) and to goodwill (40 percent). 50,000 $ 81,500 Required: On a consolidated balance sheet as of…
Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income. Interest and taxes: Interest expense Tax expense Net income $ 114,000 205,000 1. Average operating assets 2. Margin 2. Turnover 2. ROI 3. Residual income Beginning Balance $ 128,000 330,000 564,000 868,000 398,000 250,000 $ 2,538,000 $ 383,000 1,024,000 1,131,000 $ 2,538,000 $ 5,348,000 4,438,840 909,160 % 319,000 $ 590,160 Ending Balance $ 128,000 478,000 478,000 846,000 429,000 245,000 $ 2,604,000 The company paid dividends of $481,160 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in…