May I get an explanation for this, please? I have the answer so I understand the format, supposed to be separated by Assets/ liabilities and equity in the form of a Balance sheet. However, I'm confused as to how you find some of the required accounts with the given information.
Homework Answers
1. Fixed Assets (Gross) = Fixed Assets (Net) + Accumulated Depreciation
Fixed Assets (Gross) = $900 + $350
Fixed Assets (Gross) = $1250
2. Total Current Assets = Total Assets - Fixed Assets (Net)
Total Current Assets = $1240 - $900
Total Current Assets = $340
3. Cash = Total Current Assets - Accounts Receivable - Inventory
Cash = $340 - 120 - 150
Cash = $70
4. Total Equity = Total equity and Liabilities - Total Liabilities
Total Equity = $1240 - $500
Total Equity = $740
5. Common Stock = Total Equity - Retained Earnings - Paid in Excess
Common Stock = $740 - $380 - $160
Common Stock = $200
6. Total Current Liabilities = Total Liabilities - Long Term debt
Total Current Liabilities = $500 - $400
Total Current Liabilities = $100
7. Accruals = Total Current Liabilities - Accounts Payable
Accruals = $100 - $60
Accruals = $40
All the Answer are in thousands
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May I get an explanation for this, please? I have the answer so
I understand the...
McFadden Corp. reports the following balances on its December 31, 20X2, balance sheet: Amounts in Thousands:...
McFadden Corp. reports the following balances on its December 31, 20X2, balance sheet: Amounts in Thousands: Accounts payable $ 70 Accounts receivable 140 Accumulated depreciation 340 Fixed assets (net) 900 Inventory 150 Long-term debt 370 Paid in excess 160 Retained earnings 380 Total assets 1,300 Total liabilities 500 (long-term debt + current liabilities) All of the remaining accounts are listed below. Calculate the balance in each. Enter your answers in thousands. For example, an answer of $200 thousands should be...
VERSION: A have? South Eastern Inc. has the following balance sheet. How much net operating working...
VERSION: A have? South Eastern Inc. has the following balance sheet. How much net operating working capital does the firm nwc-CA-Cl Assets Liabilities and Owner's Equity Cash $ 100 Accounts payable $ 200 Accounts receivable 650 Accruals 350 Inventory 550 Notes payable 350 >$1,300 Current assets Current liabilities > $ 900 600 1,000 Long-term debt Net fixed assets Common equity 300 Retained earnings $2,300 Total liabilities & equity $2.300 Total assets 500
Hello please advise, thank you. I got correct answer for: B. 2,700,000 C. 3,000,000 D. 398,000...
Hello please advise, thank you.
I got correct answer for:
B. 2,700,000 C. 3,000,000 D. 398,000 E. 258,000 G.
42,000
I got wrong answers for:
A. 1,150,000 ( i think it should be N.P
+LTD)
F. 98,000 I think it should be (CA-CL)
H. 155,000 ( i think its ( nowc - nwc)
The assets of Dallas & Associates consist entirely of current assets and net plant and equipment, and the firm has no excess cash. The firm has total...
Please help. Save Submit Assignment for Grading Problem 3.01 Question 1of8 Check My Work Click here...
Please help.
Save Submit Assignment for Grading Problem 3.01 Question 1of8 Check My Work Click here to read the eBook: The Balance Sheet BALANCE SHEET The assets of Dallas & Assodiates consist entirely of current assets and net plant and equipment. The firm has total assets of $3 million and net plant and equipment equals $2.5 miltion. It has notes payable of $145,000, long-term debt of $751,000, and total common equity of $1.45 million. The firm does have accounts payable...
I have used the suggested formulas I have found for this problem but the answers keep...
I have used the suggested formulas I have found for this problem but the answers keep coming out wrong. Please help! The Optical Scam Company has forecast a sales growth rate of 20 percent for next year. Current assets, fixed assets, and short-term debt are proportional to sales. The current financial statements are shown here: INCOME STATEMENT Sales $ 32,200,000 Costs 27,743,800 Taxable income $ 4,456,200 Taxes 1,559,670 Net income $ 2,896,530 Dividends $ 1,158,612 Addition to retained earnings...
I received an answer on my Cadh Flow problem. the answer that I received was Equipment...
I received an answer on my Cadh Flow problem. the
answer that I received was Equipment was (5300). i was reading the
answer and I was confused. It said that the opening balance for
Equipment was $8,000. That was the closing balance for 2016. In
2017 their was a purchase of $6,000 making the opening balance for
2017 as $14,000. There was a loss of equipment for $2,000.
Accumulated Dep. for $1.200, Other Receivable -Insurance $700 from
the insurance which...
how to get the numbers [2] Financial ratios (58 points) Find the missing values on the...
how to get the numbers
[2] Financial ratios (58 points) Find the missing values on the balance sheet and the income statement of Pensacola Railroads (in S millions). Start with the balance sheet, and then continue with the income statement. You can use the following ratios: NOTE: USE AVERAGE RECEIVABLES AND INVENTORY Debt Ratio loterest Coverage Ratio CurreatRatio Quick Ratio Cash Ratio 0.4 1.4 0.2 Average Collection Period (average receivables) Tax rate 73 das 40% Marks: 28 for balance sheet,...
please I requested you to plz provide me a full step by step detail of solution...
please I requested you to plz provide me a full step
by step detail of solution . because for my understanding
Q No.8 The Shannon Corporation has Sales of $750,000. Given the following ratios, fill in the balance sheet below: Total asset turnover Cash to total assets Accounts Receivable Turnover Inventory turnover Current Ratio Debt to Total assets 2.5 times 2.0 percent 10.0 times 15.0 times 2.0 times 45.0 percent SHANNON CORPORATION BALANCE SHEET, 1999 Assets Liabilities & Shareholder's Equity...
please help. QUESTIONS Smith & Smith, Inc.'s assets consist only of current assets and net plant...
please help.
QUESTIONS Smith & Smith, Inc.'s assets consist only of current assets and net plant and equipment. The firm has total assets of $5 million and has $500,000 of cash, $15 million of Accounts Receivable, and $2 million of inwentory. The long-term debt is $1.25 million, and notes payable total $500,000. Totalcommon equity is $2.5 million with the remainder of the balance sheet funding coming from accounts payable and accruals. With this information, answer the following: What is the...
I need help calculating the statement of cash flows and common size income statement for the...
I need help calculating the statement of cash flows and common
size income statement for the following:
Below are Protek's balance sheet and income statement for two years. The company sold no stock and paid no dividends. Numbers in the statements are in millions. (1) Calculate the difference in balance sheet accounts and (2) use the appropriate differences to construct the indirect method statement of cash flows in proper form for 20X2 in the area to the right. Video- Balance...
VERSION: A have? South Eastern Inc. has the following balance sheet. How much net operating working capital does the firm nwc-CA-Cl Assets Liabilities and Owner's Equity Cash $ 100 Accounts payable $ 200 Accounts receivable 650 Accruals 350 Inventory 550 Notes payable 350 >$1,300 Current assets Current liabilities > $ 900 600 1,000 Long-term debt Net fixed assets Common equity 300 Retained earnings $2,300 Total liabilities & equity $2.300 Total assets 500
Hello please advise, thank you.
I got correct answer for:
B. 2,700,000 C. 3,000,000 D. 398,000 E. 258,000 G.
42,000
I got wrong answers for:
A. 1,150,000 ( i think it should be N.P
+LTD)
F. 98,000 I think it should be (CA-CL)
H. 155,000 ( i think its ( nowc - nwc)
The assets of Dallas & Associates consist entirely of current assets and net plant and equipment, and the firm has no excess cash. The firm has total...
Please help.
Save Submit Assignment for Grading Problem 3.01 Question 1of8 Check My Work Click here to read the eBook: The Balance Sheet BALANCE SHEET The assets of Dallas & Assodiates consist entirely of current assets and net plant and equipment. The firm has total assets of $3 million and net plant and equipment equals $2.5 miltion. It has notes payable of $145,000, long-term debt of $751,000, and total common equity of $1.45 million. The firm does have accounts payable...
I received an answer on my Cadh Flow problem. the
answer that I received was Equipment was (5300). i was reading the
answer and I was confused. It said that the opening balance for
Equipment was $8,000. That was the closing balance for 2016. In
2017 their was a purchase of $6,000 making the opening balance for
2017 as $14,000. There was a loss of equipment for $2,000.
Accumulated Dep. for $1.200, Other Receivable -Insurance $700 from
the insurance which...
how to get the numbers
[2] Financial ratios (58 points) Find the missing values on the balance sheet and the income statement of Pensacola Railroads (in S millions). Start with the balance sheet, and then continue with the income statement. You can use the following ratios: NOTE: USE AVERAGE RECEIVABLES AND INVENTORY Debt Ratio loterest Coverage Ratio CurreatRatio Quick Ratio Cash Ratio 0.4 1.4 0.2 Average Collection Period (average receivables) Tax rate 73 das 40% Marks: 28 for balance sheet,...
please I requested you to plz provide me a full step
by step detail of solution . because for my understanding
Q No.8 The Shannon Corporation has Sales of $750,000. Given the following ratios, fill in the balance sheet below: Total asset turnover Cash to total assets Accounts Receivable Turnover Inventory turnover Current Ratio Debt to Total assets 2.5 times 2.0 percent 10.0 times 15.0 times 2.0 times 45.0 percent SHANNON CORPORATION BALANCE SHEET, 1999 Assets Liabilities & Shareholder's Equity...
please help.
QUESTIONS Smith & Smith, Inc.'s assets consist only of current assets and net plant and equipment. The firm has total assets of $5 million and has $500,000 of cash, $15 million of Accounts Receivable, and $2 million of inwentory. The long-term debt is $1.25 million, and notes payable total $500,000. Totalcommon equity is $2.5 million with the remainder of the balance sheet funding coming from accounts payable and accruals. With this information, answer the following: What is the...
I need help calculating the statement of cash flows and common
size income statement for the following:
Below are Protek's balance sheet and income statement for two years. The company sold no stock and paid no dividends. Numbers in the statements are in millions. (1) Calculate the difference in balance sheet accounts and (2) use the appropriate differences to construct the indirect method statement of cash flows in proper form for 20X2 in the area to the right. Video- Balance...
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