Homework Answers
| Sapphire Co | lars Inc | Barb Corp | |
| Beginning | |||
| Assets | $ 79.00 | $ 40.00 | $ 22.00 |
| Liabilities | $ 51.00 | $ 23.00 | $ 5.00 |
| Common Stock | $ 6.00 | $ 4.00 | $ 3.00 |
| Retained Earnings | $ 12.00 | $ 13.00 | $ 14.00 |
| Ending | |||
| Assets | $ 91.00 | $ 60.00 | $ 24.00 |
| Liabilities | $ 53.00 | $ 33.00 | $ 4.00 |
| Common Stock | $ 6.00 | $ 10.00 | $ 5.00 |
| Retained Earnings | $ 32.00 | $ 17.00 | $ 15.00 |
| Income Statement | |||
| Revenues | $ 225.00 | $ 186.00 | $ 34.00 |
| Expenses | $ 213.00 | $ 158.00 | $ 28.00 |
| Net Income | $ 12.00 | $ 28.00 | $ 6.00 |
2)Highest Income= Lars Inc
Highest Percent of Net Income to revenues= Barb Corp
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ㄧㄨ i Data Table Sapphire Co. Lars, Inc. Barb Corp. Beginning 40 23 4 13 79...
13 Questi 1 i Data Table fin - Amethyst Corp. Lance Co. Broom, Inc. mi 83...
13 Questi 1 i Data Table fin - Amethyst Corp. Lance Co. Broom, Inc. mi 83 $ 44 Am Beginning Assets Liabilities Common stock Retained earnings Ending Assets 64 $ Liabilities 2 Common stock tfiel Print Done] Check Answe o El See - B9 10 of 10 (9 complete) HW SCO 0 Data Table 64 $ Ending Assets Liabilities Common stock Retained earnings w Income Statement Revenues ? $ Expenses 146 Net income Print Done i Data Table Income Statement...
Lally, Inc. Ruby Co. Bryant Corp. Beginning 43 $ 15 81 $ Assets Liabilities 48 23...
Lally, Inc. Ruby Co. Bryant Corp. Beginning 43 $ 15 81 $ Assets Liabilities 48 23 Common stock 5 27 Retained earnings 18 4 Ending 83 $ 62 $ Assets 17 Liabilities 49 35 16 Common stock 3 11 14 Retained earnings 28 Income statement Enter any number in the edit fields and then click Check Answer. CO 49 Liabilities 35 16 Common stock 6. 11 14 Retained earnings 28 Income statement Revenues 227 30 211 156 Expenses 16 Net...
For each of the companies, determine the missing amounts ("?") Emerald Co. Lally, Inc. Bailey Corp....
For each of the companies, determine the missing amounts ("?") Emerald Co. Lally, Inc. Bailey Corp. Beginning Assets Liabilities Common stock Retained earnings 76 $ 49 2 35 23 6 6 3 4 17 Ending 55 $ Assets Liabilities Common stock 26 51 35 2 4 Common stock.. . 2 4 Retained earnings 31 Income statement 224 214 38 Revenues Expenses Net income 150 Statement of retained earnings Beginning RE 25 $ 17 + Net income 26 7 (21) Dividends...
On August 1, 2018, the beginning of its current fiscal year, the following opening account balances,...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
Exercise 13-4 On January 1, 2014, Trenten Systems, a U.S.-based company, purchased a controlling interest in Grant Management Consultants located in Zurich, Switzerland. The acquisition wa...
Exercise 13-4
On January 1, 2014, Trenten Systems, a U.S.-based company,
purchased a controlling interest in Grant Management Consultants
located in Zurich, Switzerland. The acquisition was treated as a
purchase transaction. The 2014 financial statements stated in Swiss
francs are given below.
GRANT MANAGEMENT CONSULTANTS
Comparative Balance Sheets
January 1 and December 31, 2014
Jan. 1
Dec. 31
Cash and Receivables
20,000
54,900
Net Property, Plant, and Equipment
40,700
36,400
Totals
60,700
91,300
Accounts and Notes Payable
30,400
32,200
Common...
On August 1, 2018, the beginning of its current fiscal year, the following opening account balances,...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
All information is included in the scanned pages of the assignment. Sassafras Sis, Inc Chart of...
All information is included in the scanned pages of the
assignment.
Sassafras Sis, Inc Chart of Accounts Income Statement Accounts Crede D Debut Debit 5 Expenses 51 Expenses Debit Balance Sheet Accounts 1 Assets 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 15 Office Equipment 16 Accum. Depreciation Office 2 bits 21 Accounts Payable 22 Accr e spa 23 Unand Revenue Debit Credit Credit 3 Stockholders' Equity 31 Common Stock Credit 2 Retained Earnings Credit 33 Dividends Debit...
Please use the beginning balance sheet and Budgeting Assumptions to complete the cash budget and budgeted...
Please use the beginning balance sheet and Budgeting Assumptions
to complete the cash budget and budgeted income statement. Thank
you!
Balance Sheet March 31, 2018 Assets Current Assets Cash 52,000.00 Accounts Receivable 9,000.00 Raw Materials Inventory (1,100 pounds) Finished Goods Inventory (2,000 units) 2,750.00 14,300.00 Total Current Assets 78,050.00 Plant and Equipment Equipment 930,000.00 Accumulated Depreciation Plant and Equipment, Net (63,000.00) 867,000.00 Total Assets 945,050.00 Liabilities and Stockholders' Equity Liabilities Accounts Payable 7,500.00 Bonds Payable 100,000.00 Stockholders' Equity Common Stock...
i need help on my retained earnings and income statement. i have a income tax rate...
i need help on my retained earnings and income statement. i
have a income tax rate of 20% and my RE ending has to be 361,000.
not sure what i am missing on my income statement
here are some updated pictures
We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this image17000 75000 25000 117000 50000 150000 400000 Liabilities and Shareholders' Equity Current Liabilities: Accounts Payable Income Tax Payable t Payable Current...
The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow...
The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 30 percent. Interest expense will remain constant, the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets. and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $752,000 587,000 23,000 Earnings before interest and taxes Interest paid $ 142,000 19,000 Taxable income Taxes (24%) $ 123,000 29520 Net income $...
13 Questi 1 i Data Table fin - Amethyst Corp. Lance Co. Broom, Inc. mi 83 $ 44 Am Beginning Assets Liabilities Common stock Retained earnings Ending Assets 64 $ Liabilities 2 Common stock tfiel Print Done] Check Answe o El See - B9 10 of 10 (9 complete) HW SCO 0 Data Table 64 $ Ending Assets Liabilities Common stock Retained earnings w Income Statement Revenues ? $ Expenses 146 Net income Print Done i Data Table Income Statement...
Lally, Inc. Ruby Co. Bryant Corp. Beginning 43 $ 15 81 $ Assets Liabilities 48 23 Common stock 5 27 Retained earnings 18 4 Ending 83 $ 62 $ Assets 17 Liabilities 49 35 16 Common stock 3 11 14 Retained earnings 28 Income statement Enter any number in the edit fields and then click Check Answer. CO 49 Liabilities 35 16 Common stock 6. 11 14 Retained earnings 28 Income statement Revenues 227 30 211 156 Expenses 16 Net...
For each of the companies, determine the missing amounts ("?") Emerald Co. Lally, Inc. Bailey Corp. Beginning Assets Liabilities Common stock Retained earnings 76 $ 49 2 35 23 6 6 3 4 17 Ending 55 $ Assets Liabilities Common stock 26 51 35 2 4 Common stock.. . 2 4 Retained earnings 31 Income statement 224 214 38 Revenues Expenses Net income 150 Statement of retained earnings Beginning RE 25 $ 17 + Net income 26 7 (21) Dividends...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
Exercise 13-4
On January 1, 2014, Trenten Systems, a U.S.-based company,
purchased a controlling interest in Grant Management Consultants
located in Zurich, Switzerland. The acquisition was treated as a
purchase transaction. The 2014 financial statements stated in Swiss
francs are given below.
GRANT MANAGEMENT CONSULTANTS
Comparative Balance Sheets
January 1 and December 31, 2014
Jan. 1
Dec. 31
Cash and Receivables
20,000
54,900
Net Property, Plant, and Equipment
40,700
36,400
Totals
60,700
91,300
Accounts and Notes Payable
30,400
32,200
Common...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
All information is included in the scanned pages of the
assignment.
Sassafras Sis, Inc Chart of Accounts Income Statement Accounts Crede D Debut Debit 5 Expenses 51 Expenses Debit Balance Sheet Accounts 1 Assets 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 15 Office Equipment 16 Accum. Depreciation Office 2 bits 21 Accounts Payable 22 Accr e spa 23 Unand Revenue Debit Credit Credit 3 Stockholders' Equity 31 Common Stock Credit 2 Retained Earnings Credit 33 Dividends Debit...
Please use the beginning balance sheet and Budgeting Assumptions
to complete the cash budget and budgeted income statement. Thank
you!
Balance Sheet March 31, 2018 Assets Current Assets Cash 52,000.00 Accounts Receivable 9,000.00 Raw Materials Inventory (1,100 pounds) Finished Goods Inventory (2,000 units) 2,750.00 14,300.00 Total Current Assets 78,050.00 Plant and Equipment Equipment 930,000.00 Accumulated Depreciation Plant and Equipment, Net (63,000.00) 867,000.00 Total Assets 945,050.00 Liabilities and Stockholders' Equity Liabilities Accounts Payable 7,500.00 Bonds Payable 100,000.00 Stockholders' Equity Common Stock...
i need help on my retained earnings and income statement. i
have a income tax rate of 20% and my RE ending has to be 361,000.
not sure what i am missing on my income statement
here are some updated pictures
We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this image17000 75000 25000 117000 50000 150000 400000 Liabilities and Shareholders' Equity Current Liabilities: Accounts Payable Income Tax Payable t Payable Current...
The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 30 percent. Interest expense will remain constant, the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets. and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $752,000 587,000 23,000 Earnings before interest and taxes Interest paid $ 142,000 19,000 Taxable income Taxes (24%) $ 123,000 29520 Net income $...
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