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The following financial statements apply to Vernon Company: 2019 2018 $210,800 9,100 219,900 $176,000 5,900 181,900...
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018...
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018 $ 24,500 21,700 58,000 143,000 27,000 274,200 32,000 295,000 27,000 $628,200 $ 20,500 7,700 50,000 151,000 12,000 241,200 25,000 280,000 22,000 $568,200 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
The following financial statements apply to Karl Company: Calculate the following ratios for 2018 and 2019....
The following financial statements apply to Karl Company:
Calculate the following ratios for 2018 and 2019. Since 2017
numbers are not presented, do not use averages when calculating the
ratios for 2018. Instead, use the number presented on the 2018
balance sheet.
2019 2018 $420,000 16,000 436,000 $350,000 10,000 360,000 252,000 42,000 22,000 6,000 42,000 364,000 $ 72,000 206,000 38,000 20,000 6,000 36,000 306,000 $ 54,000 Revenues Net sales Other revenues Total revenues Expenses Cost of goods sold Selling expenses...
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018...
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018 $ 24,500 21,700 58,000 143,000 27,000 274,200 32,000 295,000 27,000 $628,200 $ 20,500 7,700 50,000 151,000 12,000 241,200 25,000 280,000 22,000 $568,200 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018...
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018 $ 24,500 21,700 58,000 143,000 27,000 274,200 32,000 295,000 27,000 $628,200 $ 20,500 7,700 50,000 151,000 12,000 241,200 25,000 280,000 22,000 $568,200 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
The following financial statements apply to Gibson Company: 2019 2018 Revenues Net sales $ 211,700 $ 176,800 Other revenues 9,200 6,500 Total revenues 220,900 183,300...
The following financial statements apply to Gibson Company: 2019 2018 Revenues Net sales $ 211,700 $ 176,800 Other revenues 9,200 6,500 Total revenues 220,900 183,300 Expenses Cost of goods sold 126,000 102,300 Selling expenses 19,900 17,900 General and administrative expenses 9,700 8,700 Interest expense 1,400 1,400 Income tax expense 19,300 16,100 Total expenses 176,300 146,400 Net income $ 44,600 $ 36,900 Assets Current assets Cash $ 4,700 $ 7,100 Marketable securities 3,000 3,000 Accounts receivable 36,000 30,800 Inventories 101,500 95,900...
The following financial statements apply to Karl Company: 2019 Revenues Net sales Other revenues $420,000 350,000...
The following financial statements apply to Karl Company: 2019
Revenues Net sales Other revenues $420,000 350,000 10,000 360,000
16,000 436,000 Total revenues Expenses Cost of goods sold Selling
expenses General and administrative expenses Interest expense
Income tax expense 252,000 42,000 22,000 6,000 42,000 364,00e
206,000 38,000 20,000 6,000 36,000 306,000 Total expenses Net
income Assets Current assets $ 72,000 $ 54,000 $ 8,000 16,000
Marketable securities Accounts receivable Inventories Prepaid
expenses 70,000 200,000 6,000 286,000 210,000 40,000 $536,000
64,000 192,000...
Financial statements for Franklin Company follow. FRANKLIN COMPANY Balance Sheets As of December 31 2019 2018...
Financial statements for Franklin Company follow. FRANKLIN COMPANY Balance Sheets As of December 31 2019 2018 Assets Current assets Cash $ 19,500 $ 15,500 Marketable securities 20,700 6,700 Accounts receivable (net) 48,000 40,000 Inventories 133,000 141,000 Prepaid items 27,000 12,000 Total current assets 248,200 215,200 Investments 22,000 15,000 Plant (net) 290,000 275,000 Land 33,000 28,000 Total assets $ 593,200 $ 533,200 Liabilities and Stockholders’ Equity Liabilities Current liabilities Notes payable $ 31,200 $ 18,200 Accounts payable 133,800 120,000 Salaries payable...
Financial statements for Solomon Company follow. SOLOMON COMPANY Balance Sheets As of December 31 2019 2018...
Financial statements for Solomon Company follow. SOLOMON COMPANY Balance Sheets As of December 31 2019 2018 $ 23,000 21,400 55,000 140,000 29,000 268,400 32,000 280,000 32,000 $612,400 $ 19,000 7,400 47,000 148,000 14,000 235,400 25,000 265,000 27,000 $552,400 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
Financial statements for Benson Company follow. BENSON COMPANY Balance Sheets As of December 31 2019 2018...
Financial statements for Benson Company follow. BENSON COMPANY Balance Sheets As of December 31 2019 2018 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories 17,500 13,500 20,300 44,00036,090 129,000 137,0e0 28,00890 6,300 Prepaid items Total current assets 26,966 13,000 238,800 205,800 27,00020,880 270,000 255,0ee 29,888 Investments Plant (net) Land 24,800 Total assets $564,800 $504,800 Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable 17,200 8,500 88,800 75,00 24,00010 18,000 130,000 101,580 Total current liabilities...
Financial statements for Jordan Company follow JORDAN COMPANY Balance Sheets As of December 31 2019 2018...
Financial statements for Jordan Company follow JORDAN COMPANY Balance Sheets As of December 31 2019 2018 Assets Current assets 20,500 20,900 50,000 135,000 29,000 255,400 27,000 270,000 27,000 $579,400 16,500 6,900 42,000 143,000 14,000 222,400 20,000 255,000 22,000 $519,400 Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current ї¡abiïities Notes payable Accounts payable Salaries payable 27,200 58,800 24,000 110,000 10,800 45,000 18,000 73,800 Total current...
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018 $ 24,500 21,700 58,000 143,000 27,000 274,200 32,000 295,000 27,000 $628,200 $ 20,500 7,700 50,000 151,000 12,000 241,200 25,000 280,000 22,000 $568,200 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
The following financial statements apply to Karl Company:
Calculate the following ratios for 2018 and 2019. Since 2017
numbers are not presented, do not use averages when calculating the
ratios for 2018. Instead, use the number presented on the 2018
balance sheet.
2019 2018 $420,000 16,000 436,000 $350,000 10,000 360,000 252,000 42,000 22,000 6,000 42,000 364,000 $ 72,000 206,000 38,000 20,000 6,000 36,000 306,000 $ 54,000 Revenues Net sales Other revenues Total revenues Expenses Cost of goods sold Selling expenses...
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018 $ 24,500 21,700 58,000 143,000 27,000 274,200 32,000 295,000 27,000 $628,200 $ 20,500 7,700 50,000 151,000 12,000 241,200 25,000 280,000 22,000 $568,200 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018 $ 24,500 21,700 58,000 143,000 27,000 274,200 32,000 295,000 27,000 $628,200 $ 20,500 7,700 50,000 151,000 12,000 241,200 25,000 280,000 22,000 $568,200 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
The following financial statements apply to Karl Company: 2019
Revenues Net sales Other revenues $420,000 350,000 10,000 360,000
16,000 436,000 Total revenues Expenses Cost of goods sold Selling
expenses General and administrative expenses Interest expense
Income tax expense 252,000 42,000 22,000 6,000 42,000 364,00e
206,000 38,000 20,000 6,000 36,000 306,000 Total expenses Net
income Assets Current assets $ 72,000 $ 54,000 $ 8,000 16,000
Marketable securities Accounts receivable Inventories Prepaid
expenses 70,000 200,000 6,000 286,000 210,000 40,000 $536,000
64,000 192,000...
Financial statements for Solomon Company follow. SOLOMON COMPANY Balance Sheets As of December 31 2019 2018 $ 23,000 21,400 55,000 140,000 29,000 268,400 32,000 280,000 32,000 $612,400 $ 19,000 7,400 47,000 148,000 14,000 235,400 25,000 265,000 27,000 $552,400 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
Financial statements for Benson Company follow. BENSON COMPANY Balance Sheets As of December 31 2019 2018 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories 17,500 13,500 20,300 44,00036,090 129,000 137,0e0 28,00890 6,300 Prepaid items Total current assets 26,966 13,000 238,800 205,800 27,00020,880 270,000 255,0ee 29,888 Investments Plant (net) Land 24,800 Total assets $564,800 $504,800 Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable 17,200 8,500 88,800 75,00 24,00010 18,000 130,000 101,580 Total current liabilities...
Financial statements for Jordan Company follow JORDAN COMPANY Balance Sheets As of December 31 2019 2018 Assets Current assets 20,500 20,900 50,000 135,000 29,000 255,400 27,000 270,000 27,000 $579,400 16,500 6,900 42,000 143,000 14,000 222,400 20,000 255,000 22,000 $519,400 Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current ї¡abiïities Notes payable Accounts payable Salaries payable 27,200 58,800 24,000 110,000 10,800 45,000 18,000 73,800 Total current...
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