Homework Answers
(A) Value of Farm Production
Sale of new crop 90000
Sale of old crop 35000
Change in Inventory (-15000)
Total 110000
(B) Total Farm Operating expenses
Cash paid for operating Expense 75000
(-)Change in prepaid Expense (2000)
Depreciation 12500
Total 85500
(C) Interest Expenses
Cash paid for interest expense + Change in accrued Interest
10000 + (-3000) = 7000
(D) Net Farm Income
Total sale 125000
Total 125000
Feed purchase 25000
Operating Expenses 85500
Interest 7000
Change in Inventory (-15000)
Total (103500)
Profit before Tax 22500
Tax Expense (1000)
Current 3000
Deferred (-2000)
Net Profit 21500
(E) Owner's Equity
Opening balance 325000
Net income 20000
Withdrawal (22500)
Total 322500
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Use the following information to calculate value of farm production, total farm operating expenses, interest expense,...
Use the following information to calculate value of farm production, total farm operating expenses, interest expense,...
Use
the following information to calculate value of farm production,
total farm operating expenses, interest expense, net farm income
from operations and owner’s equity. Use the value of farm
production format.
Crop sales of new crop Crop sales of old crop Change in crop inventory from 1/10 to 12/10 Change in accounts payable from 1/10 to 12/10 Change in accounts receivable from 1/10 to 12/10 Government payments received in 2010 Cash received for sale of tractor Market livestock purchases Feed...
· Use the following information to calculate value of farm production, total farm operating expenses, interest...
· Use the following information to calculate value of farm production, total farm operating expenses, interest expense, net farm income from operations ands owner equity. Use the value of farm production format. Crop sales of new crop Crop sales of old crop Change in crop inventory from 1/10 to 12/10 Change in accounts payable from 1/10 to 12/10 Change in accounts receivable from 1/10 to 12/10 Government payments received in 2010 Cash received for sale of tractor Market livestock purchases...
Review Problems 1 Given the following financial information, calculate the missing values $1,000 95,000 Cash Crop...
Review Problems 1 Given the following financial information, calculate the missing values $1,000 95,000 Cash Crop revenue Grain inventory Total operating expenses Prepaid expenses Notes payable Accrued interest Interest expense Supplies Owner equity 200 10,000 Machinery and equipment Farm real estate Total current assets $75,000 Total current liabilities 150,000 Accounts payable 17,500 Cash investment in growing 14,000 crops 2.000 Net farm income from 800 operations 27,000 Current portion of noncurrent 1.500 debt Deferred portion of noncurrent debt 10,000 500 138,500...
complete the following balance sheet. Assets 12/31/2018 12/31/2019 Change Cash $25,000 $35,000 Marketable Securities $10,000 $15,000...
complete the following balance sheet. Assets 12/31/2018
12/31/2019 Change Cash $25,000 $35,000 Marketable Securities
$10,000 $15,000 Accounts Receivable $1,500 $1,500 Fertilizer and
Supplies $500 $25,000 Investments in Growing Crops $48,500 $86,000
Crops held for Sale and Feed $12,000 $8,000 Market Livestock
$75,000 $115,000 Total Current Assets Breeding Livestock $45,000
$35,000 Machinery and Equipment $350,000 $315,000 Buildings $75,000
$85,000 Investments in Cooperatives $2,000 $2,000 Land $500,000
$525,000 Total Non-Current Assets Total Assets Flag this Question
Question 211.5 pts Complete the following...
Use the following information to calculate the requested Income Statement metrics. Net Farm Income $36,000 Opportunity...
Use the following information to calculate the requested Income Statement metrics. Net Farm Income $36,000 Opportunity Cost of Labor $16,000 Average Equity $220,000 Opportunity Cost of Management $8,000 Average Asset Value $360,000 Family Living Expenses $20,000 Interest Expense $11,000 Income and SS taxes $4,000 Total Revenue $109,500 Opportunity Cost of Capital 10% a. Rate of Return on Assets b. Rate of Return on Equity c. Operating Profit Margin Ratio d. Change in Equity e. Return to Management
Problem #2 Use the following information to calculate the requested Income Statement metrics. Net Farm Income...
Problem #2 Use the following information to calculate the requested Income Statement metrics. Net Farm Income $36,000 Opportunity Cost of Labor Average Equity $220,000 Opportunity Cost of Management Average Asset Value $360,000 Family Living Expenses Interest Expense $11,000 Income and SS taxes Total Revenue $109,500 Opportunity Cost of Capital a. Rate of Return on Assets b. Rate of Return on Equity c. Operating Profit Margin Ratio d. Change in Equity e. Return to Management $16,000 $8,000 $20,000 $4,000 10%
1 XL Axiata 10.20 7 31% Soal No. 1 REYNOLDS GOURMET FOODS COMPANY Comparative Balance Sheets...
1 XL Axiata 10.20 7 31% Soal No. 1 REYNOLDS GOURMET FOODS COMPANY Comparative Balance Sheets December 31 Assets 2019 2018 Cash $ 64,000 $ 47,000 Accounts receivable 78,000 40,000 Inventories 64,000 30,000 Prepaid expenses 4,000 6,000 203,000 Equipment Accumulated depreciation equipment 177,000 (10,000) (28,000) Totals $ 385,000 $ 290,000 Liabilities and Stockholders' Equity Accounts payable $ 23,000 $ 30,000 10,000 -O- Accrued expenses payable Bonds payable 110,000 120,000 120,000 50,000 Common stock Retained earnings 122,000 90,000 Totals $385,000 $...
CHAPTER 12 Statement of Cash Flows 593 Required: LO 12-1, 12-2, 12-3, 124, 12-5 Determine whether...
CHAPTER 12 Statement of Cash Flows 593 Required: LO 12-1, 12-2, 12-3, 124, 12-5 Determine whether the following account balances increased (I) or decreased (D) during the period: (a) Accounts Receivable. (h) Inventories. (c) Accounts Payable, and (d) Accrued Liabilities. E12-13 Preparing and Evaluating a Statement of Cash Flows (Indirect Method) from Comparative Balance Sheets and Income Statements Consultex, Inc. was founded in 2015 as a small financial consulting business. The company had done reasonably well in 2015-2017 but started...
Use the following information to prepare the September cash budget for PTO Co. The following information...
Use the following information to prepare the September cash
budget for PTO Co. The following information relates to expected
cash receipts and cash payments for the month ended September
30.
Beginning cash balance, September 1, $47,000.
Budgeted cash receipts from sales in September, $258,000.
Raw materials are purchased on account. Purchase amounts are
August (actual), $76,000, and September (budgeted), $108,000.
Payments for direct materials are made as follows: 65% in the month
of purchase and 35% in the month following...
Use the following information to answer questions 16-18 Sales revenue $778,000 Operating expenses excluding depreciation Depreciation...
Use the following information to answer questions 16-18 Sales revenue $778,000 Operating expenses excluding depreciation Depreciation expense Unrealized loss on FV-NI investments Loss on sale of equipment Income before income tax Income tax expense Net Income $499,000 66,000 4,000 14,000 583,000 195,000 58,000 $137,000 There were no purchases or sales of trading (FV-NI) investments during 2014. Ellis’s statement of financial position included the following comparative data at December 31: 2014 2013 Accounts receivable $35,000 $54,000 FV-NI investments 22,000 26,000...
Use
the following information to calculate value of farm production,
total farm operating expenses, interest expense, net farm income
from operations and owner’s equity. Use the value of farm
production format.
Crop sales of new crop Crop sales of old crop Change in crop inventory from 1/10 to 12/10 Change in accounts payable from 1/10 to 12/10 Change in accounts receivable from 1/10 to 12/10 Government payments received in 2010 Cash received for sale of tractor Market livestock purchases Feed...
· Use the following information to calculate value of farm production, total farm operating expenses, interest expense, net farm income from operations ands owner equity. Use the value of farm production format. Crop sales of new crop Crop sales of old crop Change in crop inventory from 1/10 to 12/10 Change in accounts payable from 1/10 to 12/10 Change in accounts receivable from 1/10 to 12/10 Government payments received in 2010 Cash received for sale of tractor Market livestock purchases...
Review Problems 1 Given the following financial information, calculate the missing values $1,000 95,000 Cash Crop revenue Grain inventory Total operating expenses Prepaid expenses Notes payable Accrued interest Interest expense Supplies Owner equity 200 10,000 Machinery and equipment Farm real estate Total current assets $75,000 Total current liabilities 150,000 Accounts payable 17,500 Cash investment in growing 14,000 crops 2.000 Net farm income from 800 operations 27,000 Current portion of noncurrent 1.500 debt Deferred portion of noncurrent debt 10,000 500 138,500...
complete the following balance sheet. Assets 12/31/2018
12/31/2019 Change Cash $25,000 $35,000 Marketable Securities
$10,000 $15,000 Accounts Receivable $1,500 $1,500 Fertilizer and
Supplies $500 $25,000 Investments in Growing Crops $48,500 $86,000
Crops held for Sale and Feed $12,000 $8,000 Market Livestock
$75,000 $115,000 Total Current Assets Breeding Livestock $45,000
$35,000 Machinery and Equipment $350,000 $315,000 Buildings $75,000
$85,000 Investments in Cooperatives $2,000 $2,000 Land $500,000
$525,000 Total Non-Current Assets Total Assets Flag this Question
Question 211.5 pts Complete the following...
Problem #2 Use the following information to calculate the requested Income Statement metrics. Net Farm Income $36,000 Opportunity Cost of Labor Average Equity $220,000 Opportunity Cost of Management Average Asset Value $360,000 Family Living Expenses Interest Expense $11,000 Income and SS taxes Total Revenue $109,500 Opportunity Cost of Capital a. Rate of Return on Assets b. Rate of Return on Equity c. Operating Profit Margin Ratio d. Change in Equity e. Return to Management $16,000 $8,000 $20,000 $4,000 10%
1 XL Axiata 10.20 7 31% Soal No. 1 REYNOLDS GOURMET FOODS COMPANY Comparative Balance Sheets December 31 Assets 2019 2018 Cash $ 64,000 $ 47,000 Accounts receivable 78,000 40,000 Inventories 64,000 30,000 Prepaid expenses 4,000 6,000 203,000 Equipment Accumulated depreciation equipment 177,000 (10,000) (28,000) Totals $ 385,000 $ 290,000 Liabilities and Stockholders' Equity Accounts payable $ 23,000 $ 30,000 10,000 -O- Accrued expenses payable Bonds payable 110,000 120,000 120,000 50,000 Common stock Retained earnings 122,000 90,000 Totals $385,000 $...
CHAPTER 12 Statement of Cash Flows 593 Required: LO 12-1, 12-2, 12-3, 124, 12-5 Determine whether the following account balances increased (I) or decreased (D) during the period: (a) Accounts Receivable. (h) Inventories. (c) Accounts Payable, and (d) Accrued Liabilities. E12-13 Preparing and Evaluating a Statement of Cash Flows (Indirect Method) from Comparative Balance Sheets and Income Statements Consultex, Inc. was founded in 2015 as a small financial consulting business. The company had done reasonably well in 2015-2017 but started...
Use the following information to prepare the September cash
budget for PTO Co. The following information relates to expected
cash receipts and cash payments for the month ended September
30.
Beginning cash balance, September 1, $47,000.
Budgeted cash receipts from sales in September, $258,000.
Raw materials are purchased on account. Purchase amounts are
August (actual), $76,000, and September (budgeted), $108,000.
Payments for direct materials are made as follows: 65% in the month
of purchase and 35% in the month following...
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