Homework Answers
The sequence stands as follows:
l (Liquidity): the ability to convert an asset into cash quickly without significant loss of its value.
m(Inventory): Raw materials, work in progress, and finished goods held by the firm for eventful sale.
b(Accrued expenses): Expenses that have been incurred but neither the related invoice received nor paid.
i(Depreciation Expense) : A non cash expense to allocate the cost of depreciable assets, such as plant and equipment, over the life of the asset.
s(Trade credit) : Money owed to suppliers for goods and services purchased.
g(Common stockholders) : Investors who own the firm's common stocks.
t(Working capital) : the difference between a firm's current assets an current liabilities.
r(Retained Earnings) : Cumulative undistributed profits.
e(Common sized balance sheet) : A statement in which the items are expressed as a percentage of total assets.
q(Receivables turnover) : Sales on credit divided by accounts receivable.
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10. Match the following definitions: (l)The ability to convert an asset into cash quickly without a...
10. Match the following definitions: (1) The ability to convert an asset into cash (2p each,...
10. Match the following definitions: (1) The ability to convert an asset into cash (2p each, total 20p) e ability to convert an asset into cash quickly without a significant loss of its value O Raw materials, work in progress and finished goods held by the form for eventue V Expenses that have been incurred but neither the related invoice received not be A noncash expense to allocate the cost of depreciable assets, such as plant and equipment, over the...
10. Match the following definitions: (2p each, total 20p) The ability to convert an asset into...
10. Match the following definitions: (2p each, total 20p) The ability to convert an asset into cash quickly without a significant loss of its value. Raw materials, work in progress, and finished goods held by the firm for eventual sale. ( ) Expenses that have been incurred but neither the related invoice received nor paid. ( ) A noncash expense to allocate the cost of depreciable assets, such as plant and equipment, over the life of the asset. (Money owed...
PROBLEM #1 OUTDOORS, INC. Adjusted Trial Balance December 31, 2019 Debit($) Credit($). Cash 12,400 Accounts receivable...
PROBLEM #1 OUTDOORS, INC. Adjusted Trial Balance December 31, 2019 Debit($) Credit($). Cash 12,400 Accounts receivable 18,600 Supplies 4,200 Prepaid Insurance 2.930 Office Equipment 70,000 Accumulated depreciation 13,000 Building 80,000 Accumulated depreciation 20,000 Land 60,000 Bonds Payable 120,000 Accounts payable 17,100 Unearned subscription revenue 15,000 Salaried Payable 3,500 Common Stock 35,000 Retained Earnings 21,400 Subscription Revenue 195,700 Advertising Revenue 39,300 Salaries Expense 125,410 Printing and mailing expense 80,800 Rent Expense 9,100 Supplies Expense 6,600 Insurance Expense 1,860 Depreciation Expense 5,600...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash $ 22,000 Accounts payable $ 127,000 Accounts receivable 81,100 Bonds payable (long term) 85,600 Inventory 50,000 Long-Term Assets Stockholders' Equity Gross fixed assets $ 526,000 Common stock $ 150,000 Less: Accumulated depreciation 150,700 Paid-in capital 70,000 Net fixed assets* 375,300 Retained earnings 95,800 Total assets $ 528,400 Total liabilities and equity $ 528,400 Sales (on credit) $ 1,326,000 Cost of goods sold 790,000...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash...
Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash $ 22,000 Accounts payable $ 127,000 Accounts receivable 81,100 Bonds payable (long term) 85,600 Inventory 50,000 Long-Term Assets Stockholders' Equity Gross fixed assets $ 526,000 Common stock $ 150,000 Less: Accumulated depreciation 150,700 Paid-in capital 70,000 Net fixed assets* 375,300 Retained earnings 95,800 Total assets $ 528,400 Total liabilities and equity $ 528,400 Sales (on credit) $ 1,326,000 Cost of goods sold 790,000...
Given the financial statements for Jones Corporation and Smith Corporation JONES CORPORATION Current Assets Liabilities Cash...
Given the financial statements for Jones Corporation and Smith Corporation JONES CORPORATION Current Assets Liabilities Cash Accounts receivable nven $123,300 Accounts payable $176,000 89,600 183,600 56,800 Bonds payable (long term) Long-Term Assets Stockholders' Equity Gross fixed assets $554,000 152,300 $150,000 70,000 279,800 $765,400 Total labilities and equity $765,400 Common stock Less: Accumulated depreciation Net fixed assets Paid-in capital 401,700 Retained earnings Total assets Sales (on credit) Cost of goods sold Gross profit Selling and administrative $1,255,000 678,000 577,000 355,000 nse...
Use the following information to determine: a.) the operating return on assets (%) b.) days in...
Use the following information to determine:
a.) the operating return on assets (%)
b.) days in receivables ( in days)
c.) return on equity (%)
d.) total asset turnover
e.) operating profit margin (%)
f.) debt ratio (%)
g.) fixed asset turnover
Please answer each part of this question since all the
information is provided in the table. Thank you!!
Data Table ASSETS Cash Accounts receivable Inventory Prepaid expenses Total current assets Gross plant and equipment Accumulated depreciation Total assets...
(Interpreting financial statements and measuring cash flows) Given the information for Pamplin Inc. in the hyperlinks...
(Interpreting financial statements and measuring cash flows) Given the information for Pamplin Inc. in the hyperlinks below: a. How much is the firm's net working capital and operating working capital, and what is the debt ratio for 2008? b. Complete a common-sized income statement and a common-sized balance sheet for 2008. c. Compute free cash flows and financing cash flows for 2008. Interpret your results. Pamplin Inc Balance Sheet at 12/31/2007 and 12/31/2008 Pamplin Inc. Income Statement for Years Ending...
Credit Gain on Sale of an Asset Common Stock Retained Earnings Credit Credit Land Debit Notes...
Credit Gain on Sale of an Asset Common Stock Retained Earnings Credit Credit Land Debit Notes Payable Credit Fees Earned Credit Equipment Debit Sales Credit Accounts Receivable Debit Auto Expense Debit Rent Expense Debit Supplies Debit Cash Debit Accounts Payable Credit Service Revenue Credit Accumulated Depreciation-Equipment Credit Cash Dividends Debit Type here to search Paid in Capital in Excess of Par Credit Bonds Payable Credit Credit Unearned Revenue Salary Expense Debit Identify which financial statement each one of these accounts...
Use the following balance sheet and income statement to calculate the firm's return on equity (net...
Use the following balance sheet and income statement to calculate the firm's return on equity (net income / common equity): Balance Sheet Income Statement Assets: Cash $3,000 Sales (all credit) $85,000 Accounts Receivable 5,000 Cost of Goods Sold (51,000) Inventories 6,500 Land 20,000 Operating Expenses (15,000) Other Fixed Assets 18,000 Depreciation (1,000) Liabilities & Owners' Equity Interest Expense (3,000) Accounts Payable 4,000 Long Term Debt 26,700 Taxes (5,100) Common Stock 5,000 Paid in Capital 12,000 Retained Earnings 4,800 50.4% 45.4%...
10. Match the following definitions: (1) The ability to convert an asset into cash (2p each, total 20p) e ability to convert an asset into cash quickly without a significant loss of its value O Raw materials, work in progress and finished goods held by the form for eventue V Expenses that have been incurred but neither the related invoice received not be A noncash expense to allocate the cost of depreciable assets, such as plant and equipment, over the...
10. Match the following definitions: (2p each, total 20p) The ability to convert an asset into cash quickly without a significant loss of its value. Raw materials, work in progress, and finished goods held by the firm for eventual sale. ( ) Expenses that have been incurred but neither the related invoice received nor paid. ( ) A noncash expense to allocate the cost of depreciable assets, such as plant and equipment, over the life of the asset. (Money owed...
PROBLEM #1 OUTDOORS, INC. Adjusted Trial Balance December 31, 2019 Debit($) Credit($). Cash 12,400 Accounts receivable 18,600 Supplies 4,200 Prepaid Insurance 2.930 Office Equipment 70,000 Accumulated depreciation 13,000 Building 80,000 Accumulated depreciation 20,000 Land 60,000 Bonds Payable 120,000 Accounts payable 17,100 Unearned subscription revenue 15,000 Salaried Payable 3,500 Common Stock 35,000 Retained Earnings 21,400 Subscription Revenue 195,700 Advertising Revenue 39,300 Salaries Expense 125,410 Printing and mailing expense 80,800 Rent Expense 9,100 Supplies Expense 6,600 Insurance Expense 1,860 Depreciation Expense 5,600...
Given the financial statements for Jones Corporation and Smith Corporation JONES CORPORATION Current Assets Liabilities Cash Accounts receivable nven $123,300 Accounts payable $176,000 89,600 183,600 56,800 Bonds payable (long term) Long-Term Assets Stockholders' Equity Gross fixed assets $554,000 152,300 $150,000 70,000 279,800 $765,400 Total labilities and equity $765,400 Common stock Less: Accumulated depreciation Net fixed assets Paid-in capital 401,700 Retained earnings Total assets Sales (on credit) Cost of goods sold Gross profit Selling and administrative $1,255,000 678,000 577,000 355,000 nse...
Use the following information to determine:
a.) the operating return on assets (%)
b.) days in receivables ( in days)
c.) return on equity (%)
d.) total asset turnover
e.) operating profit margin (%)
f.) debt ratio (%)
g.) fixed asset turnover
Please answer each part of this question since all the
information is provided in the table. Thank you!!
Data Table ASSETS Cash Accounts receivable Inventory Prepaid expenses Total current assets Gross plant and equipment Accumulated depreciation Total assets...
(Interpreting financial statements and measuring cash flows) Given the information for Pamplin Inc. in the hyperlinks below: a. How much is the firm's net working capital and operating working capital, and what is the debt ratio for 2008? b. Complete a common-sized income statement and a common-sized balance sheet for 2008. c. Compute free cash flows and financing cash flows for 2008. Interpret your results. Pamplin Inc Balance Sheet at 12/31/2007 and 12/31/2008 Pamplin Inc. Income Statement for Years Ending...
Credit Gain on Sale of an Asset Common Stock Retained Earnings Credit Credit Land Debit Notes Payable Credit Fees Earned Credit Equipment Debit Sales Credit Accounts Receivable Debit Auto Expense Debit Rent Expense Debit Supplies Debit Cash Debit Accounts Payable Credit Service Revenue Credit Accumulated Depreciation-Equipment Credit Cash Dividends Debit Type here to search Paid in Capital in Excess of Par Credit Bonds Payable Credit Credit Unearned Revenue Salary Expense Debit Identify which financial statement each one of these accounts...
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