Homework Answers
| Current liabilities are likely to vary directly with sales. Higher sales would likely lead to higher Current Liabilities |
| Long-term liabilities and equity accounts change as a direct result of managerial decisions. The high level management decides the source of financing. |
| Retained earnings will vary as sales changes but not directly as it is affected by the firm's dividend payout policy. Dividends paid reduce Retained earnings. |
| Option B All of these is correct option |
Add Answer to:
Question 13 (1 point) Which of the following statements in using more sophisticated planning models is...
Using S&S Air financial statements for 2018 below, prepare proforma (forecast) for 2019 financial statements and...
Using S&S Air financial statements for 2018 below, prepare proforma (forecast) for 2019 financial statements and calculate the External Financing Needed (EFN) for the company. S&S Air, Inc 2018 Income Statement Sales $46,298.115 Cost of goods sold 34,536,913 Other expenses 5,870.865 Depreciation 2074.853 $ 3.815.484 EBIT Interest 725.098 S 3,090.386 Taxable income 772 597 Taxes (21%) $ 2.317.799 Net income s 705,000 Dividends Add to retained earnings 1.612.789 S&S Air. Inc 2018 Balance Sheet Liabilities and Equity Assets Current assets...
Question 1 Which of the following is NOT true about the Balance Sheet? The balance sheet...
Question 1 Which of the following is NOT true about the Balance Sheet? The balance sheet shows Assets O The balance sheet shows retained earnings The balance sheet shows that total assets equals to liabilities plus equity Deferred revenue is NOT an item on the balance sheet. Which of the following statement is NOT true? O Current Assets are assets that can be converted into cash in a year or less O Current liabilities are liabilities that needs to be...
The Manning Company has financial statements as shown next, which are representative of the company’s historical...
The Manning Company has financial statements as shown next, which are representative of the company’s historical average. The firm is expecting a 40 percent increase in sales next year, and management is concerned about the company’s need for external funds. The increase in sales is expected to be carried out without any expansion of fixed assets, but rather through more efficient asset utilization in the existing store. Among liabilities, only current liabilities vary directly with sales. Income Statement Sales $...
The Manning Company has financial statements as shown next, which are representative of the company's historical...
The Manning Company has financial statements as shown next, which are representative of the company's historical average. The firm is expecting a 30 percent increase in sales next year, and management is concerned about the company's need for external funds. The increase in sales is expected to be carried out without any expansion of fixed assets, but rather through more efficient asset utilization in the existing store. Among liabilities, only current liabilities vary directly with sales. Income Statement $270,000 217,400...
The Manning Company has financial statements as shown next, which are representative of the company’s historical...
The Manning Company has financial statements as shown next, which are representative of the company’s historical average. The firm is expecting a 40 percent increase in sales next year, and management is concerned about the company’s need for external funds. The increase in sales is expected to be carried out without any expansion of fixed assets, but rather through more efficient asset utilization in the existing store. Among liabilities, only current liabilities vary directly with sales. Income Statement Sales $...
The Manning Company has financial statements as shown next, which are representative of the company's historical...
The Manning Company has financial statements as shown next, which are representative of the company's historical average The firm is expecting a 30 percent increase in sales next year, and management is concerned about the company's need for external funds. The increase in sales is expected to be carried out without any expansion of fixed assets, but rather through more efficient asset utilization in the existing store. Among liabilities, only current liabilities vary directly with sales. Income Statement Sales Expenses...
The Manning Company has financial statements as shown next, which are representative of the company's historical averag...
The Manning Company has financial statements as shown next, which are representative of the company's historical average. The firm is expecting a 30 percent increase in sales next year, and management is concerned about the company's need for external funds. The increase in sales is expected to be carried out without any expansion of fixed assets, but rather through more efficient asset utilization in the existing store. Among liabilities, only current liabilities vary directly with sales. Income Statement Sales Expenses...
ADDITIONAL FUNDS NEEDED Morrissey Technologies Inc.'s 2016 financial statements are shown here. Morrissey Technologies Inc.: Balance...
ADDITIONAL FUNDS NEEDED Morrissey Technologies Inc.'s 2016 financial statements are shown here. Morrissey Technologies Inc.: Balance Sheet as of December 31, 2016 Cash $180,000 Accounts payable $360,000 Receivables 360,000 Notes payable 56,000 Inventories 720,000 Accrued liabilities 180,000 Total current assets $1,260,000 Total current liabilities $596,000 Long-term debt 100,000 Fixed assets 1,440,000 Common stock 1,800,000 Retained earnings 204,000 Total assets $2,700,000 Total liabilities and equity $2,700,000 Morrissey Technologies Inc.: Income Statement for December 31, 2016 Sales $3,600,000 Operating costs including depreciation...
The Manning Company has financial statements as shown next, which are representative of the company's historical...
The Manning Company has financial statements as shown next, which are representative of the company's historical average. The firm is expecting a 35 percent Increase in sales next year, and management is concerned about the company's need for external funds. The Increase in sales is expected to be carried out without any expansion of fixed assets, but rather through more efficient asset utilization in the existing store. Among liabilitles, only current liabilities vary directly with sales. Income Statement Sales Expenses...
QUESTION S Next year, JulJuli Sdn Bhd is planning for a major aics increase af 40%....
QUESTION S Next year, JulJuli Sdn Bhd is planning for a major aics increase af 40%. Sales are currently RM30,000,000 and it is Sorecast that next year's salcs will be RM42,000,000. Current assets are expected to increase in direct proportiun with increaso in sales. Similarly, account payable and accrued expenses are also the other hand will increase by RM1,000,000 and long term debt expected to remain constant The net profit margin on sales is 3% expected proportionately as per the...
Using S&S Air financial statements for 2018 below, prepare proforma (forecast) for 2019 financial statements and calculate the External Financing Needed (EFN) for the company. S&S Air, Inc 2018 Income Statement Sales $46,298.115 Cost of goods sold 34,536,913 Other expenses 5,870.865 Depreciation 2074.853 $ 3.815.484 EBIT Interest 725.098 S 3,090.386 Taxable income 772 597 Taxes (21%) $ 2.317.799 Net income s 705,000 Dividends Add to retained earnings 1.612.789 S&S Air. Inc 2018 Balance Sheet Liabilities and Equity Assets Current assets...
Question 1 Which of the following is NOT true about the Balance Sheet? The balance sheet shows Assets O The balance sheet shows retained earnings The balance sheet shows that total assets equals to liabilities plus equity Deferred revenue is NOT an item on the balance sheet. Which of the following statement is NOT true? O Current Assets are assets that can be converted into cash in a year or less O Current liabilities are liabilities that needs to be...
The Manning Company has financial statements as shown next, which are representative of the company's historical average. The firm is expecting a 30 percent increase in sales next year, and management is concerned about the company's need for external funds. The increase in sales is expected to be carried out without any expansion of fixed assets, but rather through more efficient asset utilization in the existing store. Among liabilities, only current liabilities vary directly with sales. Income Statement $270,000 217,400...
The Manning Company has financial statements as shown next, which are representative of the company's historical average The firm is expecting a 30 percent increase in sales next year, and management is concerned about the company's need for external funds. The increase in sales is expected to be carried out without any expansion of fixed assets, but rather through more efficient asset utilization in the existing store. Among liabilities, only current liabilities vary directly with sales. Income Statement Sales Expenses...
The Manning Company has financial statements as shown next, which are representative of the company's historical average. The firm is expecting a 30 percent increase in sales next year, and management is concerned about the company's need for external funds. The increase in sales is expected to be carried out without any expansion of fixed assets, but rather through more efficient asset utilization in the existing store. Among liabilities, only current liabilities vary directly with sales. Income Statement Sales Expenses...
The Manning Company has financial statements as shown next, which are representative of the company's historical average. The firm is expecting a 35 percent Increase in sales next year, and management is concerned about the company's need for external funds. The Increase in sales is expected to be carried out without any expansion of fixed assets, but rather through more efficient asset utilization in the existing store. Among liabilitles, only current liabilities vary directly with sales. Income Statement Sales Expenses...
QUESTION S Next year, JulJuli Sdn Bhd is planning for a major aics increase af 40%. Sales are currently RM30,000,000 and it is Sorecast that next year's salcs will be RM42,000,000. Current assets are expected to increase in direct proportiun with increaso in sales. Similarly, account payable and accrued expenses are also the other hand will increase by RM1,000,000 and long term debt expected to remain constant The net profit margin on sales is 3% expected proportionately as per the...
Most questions answered within 3 hours.
-
The manager at a car assembly plant believes that the mean
assembly time for a car...
asked 9 minutes ago -
Which of the following is true of electron capture?
A) It decreases the nuclide's mass number...
asked 1 hour ago -
Assuming an efficiency of 43.10%, calculate the actual yield of
magnesium nitrate formed from 114.9 g...
asked 2 hours ago -
The highly pathogenic bacterium Clostridium
perfringens causes gangrene, a disease that results in the
destruction of...
asked 4 hours ago -
In the context of situation analysis, which of the following is
a category for analysis in...
asked 4 hours ago -
In a study of the gas phase decomposition of sulfuryl chloride
at 600 K SO2Cl2(g)SO2(g) +...
asked 4 hours ago -
75 g of 2-propanol (C3H8O) and 25 g of pentane are mixed in a
200 mL...
asked 4 hours ago -
The 2800-turn coil in a dc motor has an area per turn of 1.1 ×
10-2...
asked 4 hours ago -
Draw a combinational logic circuit diagram with a symbol inside
the box for two I/P of...
asked 4 hours ago -
The cliché we use quite a lot in finance is: there is a need to
maximize...
asked 4 hours ago -
In class we discussed the addition of HCl to alpha pinene. Would
you expect one or...
asked 4 hours ago -
I'm trying to explain to my daughter to help her please help
me
I tagged the...
asked 4 hours ago