The financial statements of Carrier Office Furniture Company include the following items: Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Building (net) Total Current Liabilities Long-term Note Payable What is working capital for 2025? $97,500 $203,000 $62,500 $36,500 2025 $44,500 26,000 102,000 160,000 530,000 270,000 57,000 2024 $45,000 14,000 96,000 152,000 547,000 287,000 52,000
Q: Payments to physicians and dentists $2,290 Payment for hospital emergency room visit $3,520 $750…
A: Solution:- Calculation of medical expenses deduction if Olivas is $43,150 as follows under:-
Q: nts in place of statements of individual companies or accounting for a business combination using…
A: Financial accounting - A specific form of accounting known as financial accounting comprises a…
Q: Compute the modified duration of a 9% coupon, 3-year corporate bond with a yield to maturity of 12%.
A: Given data: Coupon rate = 9%Tenure of bond = 3 yearsYield to maturity = 12%
Q: the following activities related to its financial operations: · Payment for the early retirement of…
A: The cash flow from financing activity includes transactions like dividends paid, the issue of a…
Q: Exercise 13 If Total capital of subsidiary is CU 300,000 and out of this CU 240,000 is owned by…
A: Minority interest is that portion of the equity that is not owned by the parent or holding company.…
Q: 15. What is the cost of an investment in stock?
A: Buying stock to invest in means obtaining ownership stakes in publicly traded businesses. The little…
Q: Determine the amount of a semi-annual coupon paid for a 3% bond with a face value of PhP80,000 which…
A: Interest on Bonds : Interest on Bonds is paid periodically as per the term of the bonds issue…
Q: Nico Manufacturing Company applies process costing in the manufacture of its best-seller product,…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: eBook Show Me How Support Department Cost Allocation-Sequential Method Bucknum Boys, Inc., produces…
A: Cost allocation is the process of identifying and allocating the cost to the respective departments…
Q: Price, Inc., bottles and distributes mineral water from the company's natural springs in northern…
A: The sales budget is prepared to estimate the sales revenue for the period. The budget helps to…
Q: Sales budget: Unit sales in June, July, and August are 20,000, 18,000, and 17,000, respectively. The…
A: The selling and administrative expenses Budget is prepared to estimate the selling expenses for the…
Q: Y6 Consider a stock priced at $40 that pays an annual dividend of $ 1 per share. An investor…
A: Share price quoted in the share market does reflect the dividend and potential growth factor of the…
Q: Sheffield, Inc. is planning to produce 2,560 units of product in 2022. Each unit requires 3 pounds…
A: The standard against which actual costs are assessed is the anticipated cost of a typical…
Q: You were engaged to audit the financial statements of JBC Company for the year 2022. The following…
A: Retained earnings are the accumulated earnings of the company, and the ending balance of retained…
Q: Allowance for Doubtful Accounts has a credit balance of $600 at the end of the year (before…
A: Accounts receivable represents the amount that has been earned by the company but not received from…
Q: Sheffield Company is preparing its direct labor budget for 2022 from the following production budget…
A: Direct Labour Budget :— This budget is prepared to estimate the direct labour cost required for the…
Q: a client currently using straight-line method for all depreciable assets acquires a new class of…
A: An adverse opinion is given when the financial statements are materially misstated and and do not…
Q: What is the effective annual rate (EAR) for an investment that pays 10% compounded annually?
A: Sometimes Interest Rate actually born by the borrower (i.e. Effective Interest Rate) is different…
Q: Summer Tyme, Inc., is considering a new 3-year expansion project that requires an initial fixed…
A: Operating cash flow= Operating income+ Depreciation -Taxes+Change in working capital
Q: eBook Joint Cost Allocation-Weighted Average Method Carving Creations jointly produces wood chips…
A: Joint Cost :— It is the cost that is incurred jointly in the manufacturing of two or more joint…
Q: (b) Net present value. (Round factor values to 5 decimal places, eg. 15.11212. Round Intermediate…
A: Net present value is the value of difference that exists between the amount of initial investment…
Q: At the beginning of 2024, Terra Lumber Company purchased a timber tract from Boise Cantor for…
A: Solution: Calculation of Depletion of the timber tract and depreciation of the logging roads in the…
Q: Assuming total asset turnover is revenue divided by average total assets, impairment write downs of…
A: Total asset turnover ratio is calculated as Sales/Average assets and the impairment of a company's…
Q: Assume that John's marginal tax rate is 37 percent. If a city of Austin bond pays 6.5 percent…
A: “Since you have posted multiple questions, we will provide the solution only to the first question…
Q: Suppose that a bond has a face value of $200 000 and its maturity date is 10 years from now. The…
A: Time value of money :— According to this concept, value of money in present day is greater than the…
Q: The Diversified Portfolio Corporation provides investment advice to customers. A condensed income…
A: Statement of Cash Flows :— It is one of the financial statement that shows change in cash and cash…
Q: USE THE FOLLOWING INFORMATION FOR QUESTIONS 26 & 27 The Soccer Investment Center of Nike…
A: CALCULATION OF MINIMUM TRANSFER PRICE TO BE CHARGED FROM SOCCER BALLS PROFIT CENTRE IF THE SOCCER…
Q: Based on the following cash flows (t=0 to t=5), calculate the Precise(Exact) ERR. Assume the MARR is…
A: t = 0 receipt of $20,000. t=1 disbursement of $15,000. t=2 disbursement of $10,000. t=3 no cash…
Q: At the beginning of 2022, Robotics Incorporated acquired a manufacturing facility for $12.6 million.…
A: DEPRECIATION EXPENSE Depreciation means gradual decrease in the value of an asset due to normal wear…
Q: Use the following information to answer the next 2 question Standard machine hours per unit of…
A: Cost Variance - A cost variance is a difference between the cost that was actually incurred and the…
Q: Assume that your bond has an interest rate of 10 percent when other bonds are paying 12 percent.…
A: IF OTHER BONDS ARE GIVING 12 % INTEREST AND OUR BOND IS GIVING 10 % Bonds are fixed-income…
Q: habled: Final Exal Provide the missing data in the following table for a distributor of martial arts…
A: Margin :— It is calculated by dividing net operating income by sales. Turnover :— It is…
Q: At the beginning of the year, Lynch and Spectrum Repair purchased equipment at a cost of $50,000.…
A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…
Q: When Job 117 was completed, direct materials totaled $4,400; direct labor, $5,600; and factory…
A: The per unit is calculated as total cost divided by number of units produced. The total cost…
Q: A company created a charter on January 1, 2021 with 1,500,000 authorized shares of common stock. On…
A: The additional paid in capital represents the excess amount received more than the par value of…
Q: Rosewood Company made a loan of $7,000 to one of the company's employees on April 1, Year 1. The…
A: The accrued revenue is the revenue earned but not received yet. The accrued revenue is recorded as…
Q: In 2XX1, Pasta Corporation is suing Pas-Tah Company for trademark infringement for $2 million. Pasta…
A: A contingent asset is a possible asset that is dependent on future uncertain events which are not in…
Q: Below are departmental income statements for a guitar manufacturer. The company classifies…
A: The direct costs are the costs that are related to the production directly such as direct materials,…
Q: Honesty Company is investing in 182-day treasury bills with a total fair market value of P2,500,000…
A: ANNUALIZED RATE OF RETURN Annualized rate of return is a process for determining investment…
Q: QUESTION 15 Cash Flow from Operations includes Income Statement information and changes in: O a.…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: 28. On January 1, 2027, a contractor started a construction project for $1,350,000; estimated…
A: Construction costing is the process of accounting followed by businesses engaged in construction. It…
Q: Is this statement correct based on the form 1040 above?
A: A tax form is used by the taxpayer and all the details of the incomes and taxable incomes have to be…
Q: QUESTION 2 When eliciting requirements for the Analytics module of Georgezon.com you ask a…
A: The understanding in analysis of fact help to identify the possible relationship between the problem…
Q: Trinity Coatings Company uses the indirect method to prepare its statement of cash flows. Refer to…
A: The correct answer is: (A) Ending cash of $19,400 Ending balance of cash is computed as: Beginning…
Q: Question Content Area Margin of safety Organic Health Care Products Inc. expects to maintain the…
A: Formula for Break Even Unit = Fixed Cost divided by Contribution Margin per Unit Contribution Margin…
Q: The cellular phone division of Stanton Company had budgeted sales of $800,000 and actual sales of…
A: Answer:- Variance meaning:- A variance is basically the difference between the budgeted and actual…
Q: Prospect Realty Co. pays weekly salaries of $18,360 on Monday for a six-day workweek ending the…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Hamon Corporation has the following information before year-end, Total income for P130,000; total…
A: Closing Entries :— These.are journal entry that are passed at the end of the period to transfer the…
Q: 1. Aries Company provided the following int lance per book, March 31 ■sh receipts, April ash…
A: Bank Reconciliation Statement - An entity's bank account is matched up with its financial records…
Q: Date Account Dec. 31 Rent Fees Earned Furniture Rental Revenue Interest Revenue Wages Expense…
A: JOURNAL ENTRIES Journal Entry is the First stage of Accounting Process. Journal Entry is the Process…
13. Help me selecting the right answer. Thank you
Step by step
Solved in 2 steps
- Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total Total assets 2020 Net plant and equipment $240,750 $310,600 a. Current ratio b. Quick ratio c. Cash ratio d. NWC ratio e. Debt-equity ratio e. Equity multiplier f. Total debt ratio f. Long-term debt ratio $8,850 $14,200 15,750 23,000 34,650 52,200 $ 59,250 $89,400 JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 300,000 400,000 2020 times times times % times times times times Liabilities and Owners' Equity Current liabilities 2021 Accounts payable Notes payable Based on the balance sheets given for Just Dew It: a. Calculate the current ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. Calculate the quick ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. Calculate the cash ratio for…Flint Inc., a greetlng card company, had the following statements prepared as of December 31, 2020. FLINT INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $6,100 $7,100 Accounts recelvable 62,400 51,000 Short-term debt Investments (avallable-for-sale) 34,700 18,100 Inventory 40,400 60,300 Prepald rent 4,900 4,000 Equipment 154,100 130,600 Accumulated depreclatlon-equlpment (34,900 ) (24,800 ) Copyrights 46,400 49,800 Total assets $314,100 $296,100 Accounts payable $46,500 $40,200 Income taxes payable 4,000 6,000 Salarles and wages payable 8,100 4,100 Short-term loans payable 7,900 10,100 Long-term loans payable 59,600 68,400 Common stock, $10 par 100,000 100,000 Contributed capital, common stock 30,000 30,000 Retalned earnings 58,000 37,300 Total labiles &. stockholders' equlty $314,100 $296,100 FLINT INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020 Sales revenue $339,800 Cost of goods sold 176,500 Gross profit 163,300 Operating expenses…From the balance sheet prepare a proforma income statement where revenues can increase by 2% and the firm can borrow at 5.5% BALANCE SHEET 2021 Cash and cash equivalents 280 Receivables 2588 Inventory 2516 Other CA 189 TOTAL CA 5573 Fixed assets 5024 TOTAL ASSETS 10597 Accounts payable 4713 Short term debt 78 TOTAL CL 4790 LT debt 921 Shareh. Equity 4886 TOTAL LIAB. AND SHARH. EQUITY 10597 INCOME STATEMENT 2021 Sales 19418 COGS 13136 Depreciations 354 SG&A 4952 EBIT 976 Interest Expenses 52 Tax 268 Net income 656 Pro-forma statement Pro Forma Forecasts Actual Projected Projected Projected Projected Projected 2021 2022 2023 2024 2025 2026 COGS/REVENUES SGA/SALES INVENTORIES/COGS OTHER CA/SALES AR/SALES AP/COGS SALES/FIXED ASSETS DEPR/ FIXED ASSETS EQUITY/INVESTED CAPITAL ST DEBT/INVESTED…
- 25. Coronado Inc., a greeting card company, had the following statements prepared as of December 31, 2020. CORONADO INC.COMPARATIVE BALANCE SHEETAS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $5,900 $7,000 Accounts receivable 61,400 51,500 Short-term debt investments (available-for-sale) 35,000 18,200 Inventory 40,000 60,500 Prepaid rent 5,000 4,100 Equipment 152,900 131,100 Accumulated depreciation—equipment (35,200 ) (25,100 ) Copyrights 45,800 50,000 Total assets $310,800 $297,300 Accounts payable $46,100 $40,100 Income taxes payable 3,900 5,900 Salaries and wages payable 8,000 4,000 Short-term loans payable 8,100 10,000 Long-term loans payable 60,400 69,300 Common stock, $10 par 100,000 100,000…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. 0.13Suppose the 2022 Adidas financial statement contain the following selected data (in millions) current assets 4215 total assets 9000 current liabilities 4860 cash 755 interest expense 150 income tax 190 net income 275 a.working capital b.current ratio c.debt to assets ratio d.times interest earened
- Assume the following information is given:Income statementNet sales sh. 200,000Operating income 10,000 Balance sheetCurrent assets 95,000Total assets 150,000 Current liabilities 80,000Total liabilities 125,000Retained earnings 25,000 The market value of equity is sh. 300,000Required:Evaluate the credit worthiness of the borrower using Altman ZSeminole Corporation reported the following items at December 31, 2021, and 2020: (Click the icon to view the comparative financial information.) Read the requirements. Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2021. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formula and calculate the quick (acid-test) ratio for 2021. (Abbreviation used: Cash* = Cash and cash equivalents. Round your final answer to two decimal places.) Cash* + Short-term investments + Net current receivables + Total current liabilities = Quick (acid-test) ratio $ Seminole's quick (acid-test) ratio is considered fairly weak. (b) Select the formula and calculate Seminole's days' sales outstanding for 2021. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) Accounts receivable turnover = + Days' sales outstanding Seminole's days'…Crane Company has these comparative balance sheet data: CRANE COMPANYBalance SheetsDecember 31 2022 2021 Cash $ 27,105 $ 54,210 Accounts receivable (net) 126,490 108,420 Inventory 108,420 90,350 Plant assets (net) 361,400 325,260 $623,415 $578,240 Accounts payable $ 90,350 $ 108,420 Mortgage payable (15%) 180,700 180,700 Common stock, $10 par 252,980 216,840 Retained earnings 99,385 72,280 $623,415 $578,240 Additional information for 2022: 1. Net income was $27,900. 2. Sales on account were $382,300. Sales returns and allowances amounted to $29,000. 3. Cost of goods sold was $207,500. 4. Net cash provided by operating activities was $57,000. 5. Capital expenditures were $28,900, and cash dividends were $17,900. Compute the following ratios at December 31, 2022. (Round current ratio and inventory turnover to 2 decimal…
- Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets Total assets What is the equity multiplier for 2021? Multiple Choice 1.78 times 3.33 times 2.25 times 1.31 times 2.64 times 2020 2021 $ 250 890 $ 9,900 7,650 390 $ 1,860 88 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) $220 990 1,750 1,655 $ 2,960 $ 2,795 3,360 3,880 $ 6,320 $ 6,675 $ 1,772 372 $1,400 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2020 $ 1,540 1,010 3,240 530 $ 6,320 2021 $ 1,632 1,293 2,970 780 $ 6,675We are given the following information for Pettit Corporation. Sales (credit) Cash Inventory Current liabilities Asset turnover Current ratio Debt-to-assets ratio Receivables turnover $2,068,000 150,000 923,000 763,000 a. Accounts receivable b. Marketable securities c. Capital assets. d. Long-term debt $ Current assets are composed of cash, marketable securities, accounts receivable, and inventory. Calculate the following balance sheet items: LA LA LA $ $ 1.00 times 2.60 times $ 40 % 4 times 517000Some selected financial statement items belonging to PXR Company are given in the table below. According to this information, which of the following is Return on Assets (ROA) in 2021? Receivables 18,500 Total Assets in 2021 130,000 Current Liabilities 42,000 Total Assets in 2020 110,000 Net Profit 18,000 Shareholders' Equity 85,000 Select one: a. 0.11 b. 0.18 c. 0.21 d. 0.18 Clear my choice