Glen’s Tobacco Shop has total assets of $95.2 million. Fifty percent of these assets are financed...
|
Glen’s Tobacco Shop has total assets of $95.2 million. Fifty percent of these assets are financed with debt of which $29.7 million is current liabilities. The firm has no preferred stock but the balance in common stock and paid-in surplus is $17.4 million. |
|
What is the balance for long-term debt and retained earnings on Glen’s Tobacco Shop’s balance sheet? (Enter your answers in millions of dollars rounded to 1 decimal place.) |
Homework Answers
| CALCULATION OF THE LONG TERM DEBT | ||
| Total Assets = | $ 95.20 | Million |
| Debt Finance = 50% of $ 95.20 = | $ 47.60 | Million |
| Less: Current Liabilities | $ 29.70 | Million |
| Long term Debt | $ 17.90 | Million |
| Answer = $ 17.90 Million | ||
| CALCULATION OF THE RETAINED EARNINGS | ||
| Total Assets = Total Liabilities + Shareholder's Equity = | $ 95.20 | Million |
| Retained Earning = Total Assets - Current Liabilities - Long term Liabilities - Shareholder's Equity | ||
| Retained Earning = $ 95.20 - $ 29.70 - $ 17.90 - $ 17.40 = | $ 30.20 | |
| Answer = Retained Earnings = $ 30.20 | ||
Add Answer to:
Glen’s Tobacco Shop has total assets of $95.2 million. Fifty
percent of these assets are financed...
Glen's tobacco shop has total assets of $99.2 million. Fifty percent of these assets are financed...
Glen's tobacco shop has total assets of $99.2 million. Fifty percent of these assets are financed with debt of which $30.7 million is current liabilities. The firm has no preferred stock but the balance in common stock and paid- in surplus is $27.4 million. What is the balance for long term debt and retained earnings on Glens Tobacco Shops balance sheet? Round to 1 decimal
2-16 Balance Sheet Glen's Tobacco Shop has total assets of $91.8 million. Fifty percent of these...
2-16 Balance Sheet Glen's Tobacco Shop has total assets of $91.8 million. Fifty percent of these assets are financed with debt of which $28.9 million is current liabilities The firm has no preferred stock but the balance in common stock and paid-in sur- plus is $20.4 million. Using this information, what is the balance for long-term debt and retained earnings on Glen's Tobacco Shop's balance sheet? (LG2-1)
The 2017 balance sheet of Kerber’s Tennis Shop, Inc., showed long-term debt of $3.3 million, and...
The 2017 balance sheet of Kerber’s Tennis Shop, Inc., showed long-term debt of $3.3 million, and the 2018 balance sheet showed long-term debt of $3.6 million. The 2018 income statement showed an interest expense of $110,000. What was the firm’s cash flow to creditors during 2018? (A negative answer should be indicated by a minus sign. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) The 2017 balance sheet of Kerber’s Tennis Shop, Inc., showed $580,000 in the...
The 2014 balance sheet of Jordan's Golf Shop, Inc., showed long-term debt of $6.1 million, and...
The 2014 balance sheet of Jordan's Golf Shop, Inc., showed long-term debt of $6.1 million, and the 2015 balance sheet showed long-term debt of $6.35 million. The 2015 income statement showed an interest expense of $210,000. The 2014 balance sheet showed $600,000 in the common stock account and $5.7 million in the additional paid-in surplus account. The 2015 balance sheet showed $640,000 and $6.2 million in the same two accounts, respectively. The company paid out $605,000 in cash dividends during...
BALANCE SHEET The assets of Dallas & Associates consist entirely of current assets and net plant and equipment. The firm has total assets of $2.6 million and net plant and equipment equals $2.2 mi...
BALANCE SHEET The assets of Dallas & Associates consist entirely of current assets and net plant and equipment. The firm has total assets of $2.6 million and net plant and equipment equals $2.2 million. It has notes payable of $145,000, long-term debt of $750,000, and total common equity of $1.55 million. The firm does have accounts payable and accruals on its balance sheet. The firm only finances with debt and common equity, so it has no preferred stock on its...
The 2018 balance sheet of Speith’s Golf Shop, Inc., showed long-term debt of $5.4 million, and...
The 2018 balance sheet of Speith’s Golf Shop, Inc., showed long-term debt of $5.4 million, and the 2019 balance sheet showed long-term debt of $5.65 million. The 2019 income statement showed an interest expense of $175,000. The 2018 balance sheet showed $530,000 in the common stock account and $2.3 million in the additional paid-in surplus account. The 2019 balance sheet showed $570,000 and $2.5 million in the same two accounts, respectively. The company paid out $400,000 in cash dividends during...
Rebecky's Flowers 4U, Inc., had free cash flows during 2021 of $41 million, NOPAT of $95...
Rebecky's Flowers 4U, Inc., had free cash flows during 2021 of $41 million, NOPAT of $95 million, and depreciation of $25 million. Using this information, fill in the blanks on Rebecky's balance sheet below. (Enter your answers in millions of dollars.) 2021 2020 $ $ 17 $ Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total 70 $ REBECKY'S FLOWERS 4U, INC. Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) 2021 2020 Liabilities...
The Lopez-Portillo Company has $10 million in assets, 80 percent financed by debt and 20 percent...
The Lopez-Portillo Company has $10 million in assets, 80 percent financed by debt and 20 percent financed by common stock. The interest rate on the debt is 15 percent, and the stock book value is $10 per share. President Lopez-Portillo is considering two financing plans for an expansion to $15 million in assets. Under Plan A, the debt-to-total-assets ratio will be maintained, but new debt will cost 18 percent! New stock will be sold at $10 per share. Under Plan...
Problem 2-15 Balance Sheet (LG2-1) Brenda's Bar and Grill has total assets of $27.0 million, of...
Problem 2-15 Balance Sheet (LG2-1) Brenda's Bar and Grill has total assets of $27.0 million, of which $21.0 million are current assets. Cash makes up 10 percent of the current assets and accounts receivable makes up another 40 percent of current assets. Brenda's gross plant and equipment has a book value of $20.5 million and other long-term assets have a book value of $800,000. What is the balance of inventory and the balance of depreciation on Brenda's Bar and Grill's...
Dahlia Colby, CFO of Charming Florist Ltd., has created the firm's pro forma balance sheet for...
Dahlia Colby, CFO of Charming Florist Ltd., has created the firm's pro forma balance sheet for the next fiscal year. Sales are projected to grow by 10 percent to $440 million. Current assets, fixed assets, and short-term debt are 20 percent, 80 percent, and 10 percent of sales, respectively. Charming Florist pays out 30 percent of its net income in dividends. The company currently has $122 million of long-term debt and $50 million in common stock par value. The profit...
2-16 Balance Sheet Glen's Tobacco Shop has total assets of $91.8 million. Fifty percent of these assets are financed with debt of which $28.9 million is current liabilities The firm has no preferred stock but the balance in common stock and paid-in sur- plus is $20.4 million. Using this information, what is the balance for long-term debt and retained earnings on Glen's Tobacco Shop's balance sheet? (LG2-1)
The 2014 balance sheet of Jordan's Golf Shop, Inc., showed long-term debt of $6.1 million, and the 2015 balance sheet showed long-term debt of $6.35 million. The 2015 income statement showed an interest expense of $210,000. The 2014 balance sheet showed $600,000 in the common stock account and $5.7 million in the additional paid-in surplus account. The 2015 balance sheet showed $640,000 and $6.2 million in the same two accounts, respectively. The company paid out $605,000 in cash dividends during...
Rebecky's Flowers 4U, Inc., had free cash flows during 2021 of $41 million, NOPAT of $95 million, and depreciation of $25 million. Using this information, fill in the blanks on Rebecky's balance sheet below. (Enter your answers in millions of dollars.) 2021 2020 $ $ 17 $ Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total 70 $ REBECKY'S FLOWERS 4U, INC. Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) 2021 2020 Liabilities...
Problem 2-15 Balance Sheet (LG2-1) Brenda's Bar and Grill has total assets of $27.0 million, of which $21.0 million are current assets. Cash makes up 10 percent of the current assets and accounts receivable makes up another 40 percent of current assets. Brenda's gross plant and equipment has a book value of $20.5 million and other long-term assets have a book value of $800,000. What is the balance of inventory and the balance of depreciation on Brenda's Bar and Grill's...
Dahlia Colby, CFO of Charming Florist Ltd., has created the firm's pro forma balance sheet for the next fiscal year. Sales are projected to grow by 10 percent to $440 million. Current assets, fixed assets, and short-term debt are 20 percent, 80 percent, and 10 percent of sales, respectively. Charming Florist pays out 30 percent of its net income in dividends. The company currently has $122 million of long-term debt and $50 million in common stock par value. The profit...
Most questions answered within 3 hours.
-
You have a portfolio that is invested 19 percent in Stock A, 42
percent in Stock...
asked 50 seconds from now -
FIRST: Write code that prompts the user for the
name of a text file, opens that...
asked 54 seconds ago -
Our team is working to build the IT architecture plan for a
semi-custom designer jewelry company....
asked 11 minutes ago -
how
does sperm use acrosomal enzymes and receptors to approach, bind
and enter the oocyte
asked 7 minutes ago -
Light of wavelength 425.1 nm falls on two slits spaced 0.31 mm
apart. What is the...
asked 7 minutes ago -
Question 2 Lean procurement may have a lot of advantages but it
could be difficult to...
asked 11 minutes ago -
Let's assume that measuring the concentration of a pollutant
in a body of water will result...
asked 14 minutes ago -
Bill’s Bakery has current earnings per share of $2.42.
Current book value is $4.20 per share....
asked 34 minutes ago -
The train I take into town charges less to people who ride
between 8:00 am and...
asked 27 minutes ago -
Pizza cost $5 per unit Coke cost $1 per unit You have $17 and
plan to...
asked 35 minutes ago -
D5NS with 40 mg gentamicin IV infuse at 30 mL/h over 30 min q8h.
A volume-control...
asked 35 minutes ago -
To get a declared dividend from a company, what is the last day
that the investor...
asked 36 minutes ago