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20. The books of the Monmouth Corporation show the following: Average earnings for prior 3 years...
20. The books of the Monmouth Corporation show the following: Average earnings for 2018 2017 2016 prior 3 years $70...
20. The books of the Monmouth Corporation show the following: Average earnings for 2018 2017 2016 prior 3 years $70,000 $75,000 $78,000 Net tangible assets $40,000 $42,000 $50,000 If it is expected that 15% would be normal earning normal earnings on net tangible assets, then the average excess earnings are bous 7510 A. $7,120 B. $8,333 D. $10,800 30 C. $9,800
P18-3 Condensed balance sheet and income statement data for Landwehr Corporation appear below and on page...
P18-3 Condensed balance sheet and income statement data for Landwehr Corporation appear below and on page 655. LANDWEHR CORPORATION Balance Sheets December 31 2018 2017 2016 Cash $25,000 50,000 90,000 75,000 400,000 20,000 $18,000 48,000 64,000 45,000 358,000 Accounts receivable (net) Other current assets 45,000 95,000 70,000 Investments Plant and equipment (net) 370,000 $600,000 $ 80,000 $640,000 $ 75,000 80,000 340,000 $533,000 Current liabilities $70,000 50,000 300,000 113,000 Long-term debt Common stock, $10 par Retained earnings 85,000 310,000 145,000 125,000...
Eddie Zambrano Corporation began operations on January 1, 2017. During its first 3 years of operations,...
Eddie Zambrano Corporation began operations on January 1, 2017. During its first 3 years of operations, Zambrano reported net income and declared dividends as follows. Net Income Dividends Declared 2014 2015 2016 $ 40,000 $ 125,000 160,000 50,000 50,000 The following information relates to 2017. Income before income tax $ 240,000 Prior period adjustment: understatement of 2015 depreciation expense (before taxes) Cumulative decrease in income from change in inventory methods, 25,000 (before taxes) Dividends declared (of this amount, $25,000 will...
P18-3 Perform ratio analysis, and evaluate financial position and operating results Consolidated balance sheet and income...
P18-3 Perform ratio analysis, and evaluate financial position and operating results Consolidated balance sheet and income statement data for Landwehr Corporation appear below. Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) LANDWEHR CORPORATION Balance Sheets December 31 2018 $25,000 50,000 90,000 75,000 400,000 $640,000 $75,000 80,000 340,000 145,000 $640,000 2017 $20,000 45,000 95.000 70,000 370,000 $600,000 $80,000 85,000 310,000 125,000 $600,000 2016 $18,000 48,000 64,000 45,000 358,000 $533,000 $70,000 50.000 300,000 113,000 $533,000 Current liabilities Long-term...
The following information is available for Bakers Corporation. 2018 2017 Current liabilities $ 88,000 $
The following information is available for Bakers Corporation. 2018 2017 Current liabilities $ 88,000 $ 60,800 Total assets 400,000 341,000 Currrent liabilities 40,000 38,000 Total liabilities 120,000 150,000 Net income 100,000 50,000 Net cash provided by operating activities 110,000 70,000 Preferred dividends 10,000 10,000 Common dividends 5,000 2,500 Expenditures on property, plant, and equipment 45,000 20,000 Shares outstanding beginning of year 60,000 40,000 Shares outstanding end of year 120,000 60,000 Computethe current ratio, debt to asets ratio, free cash flow, and earnings...
Eddie Zambrano Corporation began operations on January 1, 2017. During its first 3 years of operations,...
Eddie Zambrano Corporation began operations on January 1, 2017. During its first 3 years of operations, Zambrano reported net income and declared dividends as follows: Net income Dividends declared 2017 $40,000 $ –0– 2018 125,000 50,000 2019 160,000 50,000 The following information relates to 2020. Income before income tax $240,000 Understatement of 2018 depreciation expense (before taxes) $25,000 Cumulative decrease in income from change in inventory methods (before taxes) $35,000 Dividends declared $100,000 Effective tax rate 20 % 1. Instructions:...
E4.12 (LO 5) (Retained Earnings Statement) Eddie Zambrano Corporation began operations on January 1, 2017. During...
E4.12 (LO 5) (Retained Earnings Statement) Eddie Zambrano Corporation began operations on January 1, 2017. During its first 3 years of operations, Zambrano reported net income and declared dividends as follows. Net Income Dividends Declared 2017 $ 40,000 $ -0- 2018 125,000 50,000 2019 160,000 50,000 The following information relates to 2020. Income before income tax $240,000 Prior period adjustment: understatement of 2018 depreciation expense (before taxes) $ 25,000 Cumulative decrease in income from change in inventory methods (before taxes)...
eu Business School BCO 222 Assignment # 1: Measuring Cash Flows Given the following information for the Manhattan C...
eu Business School BCO 222 Assignment # 1: Measuring Cash Flows Given the following information for the Manhattan Corporation: Prepare a statement of cash flows for 2018. Manhattan Corporation Balance Sheet for December 31, 2017 and 2018 (in dollars) 2017 2018 Cash 89,000 100,000 Account receivable 64,000 70,000 Inventories 112,000 100,000 10,000 Other current assets 10,000 Total current assets 275,000 238.000 (40,000) 198,000 473,000 280,000 Building and equipment Less: accumulated depreciation Total net fixed assets 311.000 (66,000) 245,000 525,000 Total...
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years...
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2016, 2017, and 2018. RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 2018 2017 2016 Balance at beginning of year $ 7,094,292 $ 5,620,052 $ 5,804,552 Net income (loss) 3,326,700 2,420,900 (184,500) Deductions: Stock dividend (61,500 shares) 260,000 Common shares retired, September 30 (140,000 shares) 230,660 Common stock cash dividends 907,950 716,000 0 Balance at end of...
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years...
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2016, 2017, and 2018. RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 2017 $6,984,092 $5,565, 852 $5,734,552 2,350,900 2018 2016 Balance at beginning of year Net income (loss) 3,319,700 (168,700) Deductions: Stock dividend (38,000 shares) Common shares retired, September 30 (150,000 shares) Common stock cash dividends 253,000 223,660 709,000 $9,149,842 $6,984, 092 $5,565,852 900,950 Balance at end...
20. The books of the Monmouth Corporation show the following: Average earnings for 2018 2017 2016 prior 3 years $70,000 $75,000 $78,000 Net tangible assets $40,000 $42,000 $50,000 If it is expected that 15% would be normal earning normal earnings on net tangible assets, then the average excess earnings are bous 7510 A. $7,120 B. $8,333 D. $10,800 30 C. $9,800
P18-3 Condensed balance sheet and income statement data for Landwehr Corporation appear below and on page 655. LANDWEHR CORPORATION Balance Sheets December 31 2018 2017 2016 Cash $25,000 50,000 90,000 75,000 400,000 20,000 $18,000 48,000 64,000 45,000 358,000 Accounts receivable (net) Other current assets 45,000 95,000 70,000 Investments Plant and equipment (net) 370,000 $600,000 $ 80,000 $640,000 $ 75,000 80,000 340,000 $533,000 Current liabilities $70,000 50,000 300,000 113,000 Long-term debt Common stock, $10 par Retained earnings 85,000 310,000 145,000 125,000...
Eddie Zambrano Corporation began operations on January 1, 2017. During its first 3 years of operations, Zambrano reported net income and declared dividends as follows. Net Income Dividends Declared 2014 2015 2016 $ 40,000 $ 125,000 160,000 50,000 50,000 The following information relates to 2017. Income before income tax $ 240,000 Prior period adjustment: understatement of 2015 depreciation expense (before taxes) Cumulative decrease in income from change in inventory methods, 25,000 (before taxes) Dividends declared (of this amount, $25,000 will...
P18-3 Perform ratio analysis, and evaluate financial position and operating results Consolidated balance sheet and income statement data for Landwehr Corporation appear below. Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) LANDWEHR CORPORATION Balance Sheets December 31 2018 $25,000 50,000 90,000 75,000 400,000 $640,000 $75,000 80,000 340,000 145,000 $640,000 2017 $20,000 45,000 95.000 70,000 370,000 $600,000 $80,000 85,000 310,000 125,000 $600,000 2016 $18,000 48,000 64,000 45,000 358,000 $533,000 $70,000 50.000 300,000 113,000 $533,000 Current liabilities Long-term...
E4.12 (LO 5) (Retained Earnings Statement) Eddie Zambrano Corporation began operations on January 1, 2017. During its first 3 years of operations, Zambrano reported net income and declared dividends as follows. Net Income Dividends Declared 2017 $ 40,000 $ -0- 2018 125,000 50,000 2019 160,000 50,000 The following information relates to 2020. Income before income tax $240,000 Prior period adjustment: understatement of 2018 depreciation expense (before taxes) $ 25,000 Cumulative decrease in income from change in inventory methods (before taxes)...
eu Business School BCO 222 Assignment # 1: Measuring Cash Flows Given the following information for the Manhattan Corporation: Prepare a statement of cash flows for 2018. Manhattan Corporation Balance Sheet for December 31, 2017 and 2018 (in dollars) 2017 2018 Cash 89,000 100,000 Account receivable 64,000 70,000 Inventories 112,000 100,000 10,000 Other current assets 10,000 Total current assets 275,000 238.000 (40,000) 198,000 473,000 280,000 Building and equipment Less: accumulated depreciation Total net fixed assets 311.000 (66,000) 245,000 525,000 Total...
Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2016, 2017, and 2018. RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 2017 $6,984,092 $5,565, 852 $5,734,552 2,350,900 2018 2016 Balance at beginning of year Net income (loss) 3,319,700 (168,700) Deductions: Stock dividend (38,000 shares) Common shares retired, September 30 (150,000 shares) Common stock cash dividends 253,000 223,660 709,000 $9,149,842 $6,984, 092 $5,565,852 900,950 Balance at end...
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