Jetson Excercise Equipment, Inc. reported the following statements for 2018:
Homework Answers
Answer 1:
Cost and accumulated depreciation of disposed asset = $43,400
Hence book value of disposed asset = 0
Acquisition of plant assets = Gross value of plant assets in 2018 - (Gross value of plant assets in 2017 - Cost of disposed asset)
= $263,000 - ($216,400 - $43,400)
= $90,000
Answer 2:
Given that only one long term notes payable transaction happened during the year
Hence:
Payment of long term notes payable = Notes payable in 2017 - Notes payable in 2018
= $70,000 - $63,000
= $7,000
Answer 3:
Given that only one common stock transaction happened during the year
Issuance of common stock =Common stock 2018 - Common stock 2017
= $48,000 - $37,000
= $11,000
Answer 4:
Cash dividend = Retained Earnings 2017 + Net Income - Retained Earnings 2018
= 219,000 + 125,000 - 288,500
= $55,500
Add Answer to:
Jetson Excercise Equipment, Inc. reported the following statements
for 2018:
Jetson in reported the following statement of cash fows for 2018 Click the icon to view...
Jetson in reported the following statement of cash fows for 2018 Click the icon to view the statement of cash flow ) Jetson plans to purchase a true for $22.000 and a fort for $120.000 year in t o dividends of $5.000 Assuming Jetson plans m a tty for 2019, what would be the amount of free cash fow? Abbreviations used Cash pris for planned west-Cash payment for planned Investments in long-term as NCFA Netcash provided by Branding active: NCOA...
Ryle Exercise Equipment, Inc. reported the following financial statements for 2018: Prepare the company's statement of...
Ryle Exercise Equipment, Inc. reported the following financial
statements for 2018:
Prepare the company's statement of cash flows-indirect
method-for the year ended December 31, 2018. Assume investments are
purchased with cash.
Ryle Exercise Equipment, Inc. reported the following financial statements for Prepare the company's statement of cash flows-indirect method-for the 2018 EEB (Click the icon to view the income statement.) EB (Click the icon to view the comparative balance sheet) (Click the icon to view additional information.) year ended December...
Question 01. McKnight Exercise Equipment, Inc., reported the following financial statements for 2018: &n
Question 01. McKnight Exercise Equipment, Inc., reported the following financial statements for 2018: Income Statement Sales $714,000 Cost of Goods sold $ 347,000 Depreciation $52,000 Other expenses $205,000 Total Expenses $604,000 Net Income $110,000 Comparative Balance Sheet Assets 2018 2017 Liabilities 2018 2017 Current Assets: Current Liabilities: Cash 19000 18000 A/C Payable 73000 72000 A/C Receivables 54000 49000 Salary payable 2000 5000 Inventory 81000 89000 Long term bonds 59000 66000 Long term investment 95000 77000 Equity: Plant assets(net) 221,000...
Trener Exercise Equipment, Inc. reported the following financial statements for 2018 me the conto the income men...
Trener Exercise Equipment, Inc. reported the following financial statements for 2018 me the conto the income ment) Cho w com e shot) Requirement 1. Compute the amount of Trapor Exercise's acquisition of p on poss r ayor Exercise disposed of plant book value the cost and som e depreciation of the disposed asset was $42.300 No cash was received The actions of plants amounts to Peguirements 1. Comote the amount of Traynor Exercises acquisition of plants . Assum the acquisition...
Superior Exercise Equipment, Inc. reported the following financial statements for 2018: Requirements 1.) Computer the amount...
Superior Exercise Equipment, Inc. reported the following
financial statements for 2018:
Requirements
1.) Computer the amount of Superior Exercise's acquisition of
plant assets. Assume the acquisition was for cash. Superior
Exercise disposed of plant assets at book value. The cost and
accumulated depreciation of the disposed asset was $45,700. No cash
was received upon disposal.
2.) Compute new borrowing or payment of long-term notes payable,
with Superior Exercise having only one long-term notes payable
transaction during the year.
3.) Computer...
The following information was reported in the December 31, 2018, financial statements of Ava, Inc. (listed...
The following information was reported in the December 31, 2018, financial statements of Ava, Inc. (listed alphabetically). Accounts Payable $1,166 Cash 4,313 Dividends 470 Fuel Expense 777 Interest Expense 215 Notes Payable 2,322 Retained Earnings (as of January 1, 2018 377 Service revenue 6,422 Supplies 399 Based on this list of accounts, what are the total assets?
ennings Advertising Inc. reported the following in its December 31, 2018, balance sheet: Equipment $ 600,000...
ennings Advertising Inc. reported the following in its December 31, 2018, balance sheet: Equipment $ 600,000 Less: Accumulated depreciation—equipment $ 95,000 In a disclosure note, Jennings indicates that it uses straight-line depreciation over 12 years and estimates salvage value at 5% of cost. What is the average age of the equipment owned by Jennings? Multiple Choice 3.2 years. 2 years. 8.8 years. 10 years.
Please explain how each answer was received. Thank you! 2x EC-23 (similar to) Question Help Jetson...
Please explain how each answer was received. Thank you!
2x EC-23 (similar to) Question Help Jetson Exercise Equipment, Inc. reported the following financial statements for 2018: E: (Click the icon to view the income statement.) : (Click the icon to view the comparative balance sheet.) Read the requirements. Requirement 1. Compute the amount of Jetson Exercise's acquisition of plant assets. Jetson Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $49,200....
Motorsports of Philadelphia, Inc., reported the following financial statements for 2018: (Click the icon to view...
Motorsports of Philadelphia, Inc., reported the following financial statements for 2018: (Click the icon to view the income statement.) 3 (Click the icon to view the comparative balance sheets.) Read the requirement. a. Calculate the new borrowing or payment of long-term notes payable. Motorsports of Philadelphia had only one long-term note payable transaction during the year. The of long-term notes payable is $ | thousand. Reference Motorsports of Philadelphia, Inc. Income Statement Year Ended December 31, 2018 (In thousands) 700...
Top Notch, Inc., reported the following selected amounts in its financial statements for the year ended...
Top Notch, Inc., reported the following selected amounts in its financial statements for the year ended December 31, 2018: (Click the icon to view the financial statements.) Read the requirement. i Data Table a. Collections from customers during 2018 Collections from customers are $ 354,900 Income Statement 2018 2017 b. Payments for inventory during 2018 Payments for inventory are 315,000 159,000 22,400 45,000 20,600 68,000 i Requirement 1. Determine the following for Top Notch, Inc., during 2018, a. Collections from...
Jetson in reported the following statement of cash fows for 2018 Click the icon to view the statement of cash flow ) Jetson plans to purchase a true for $22.000 and a fort for $120.000 year in t o dividends of $5.000 Assuming Jetson plans m a tty for 2019, what would be the amount of free cash fow? Abbreviations used Cash pris for planned west-Cash payment for planned Investments in long-term as NCFA Netcash provided by Branding active: NCOA...
Ryle Exercise Equipment, Inc. reported the following financial
statements for 2018:
Prepare the company's statement of cash flows-indirect
method-for the year ended December 31, 2018. Assume investments are
purchased with cash.
Ryle Exercise Equipment, Inc. reported the following financial statements for Prepare the company's statement of cash flows-indirect method-for the 2018 EEB (Click the icon to view the income statement.) EB (Click the icon to view the comparative balance sheet) (Click the icon to view additional information.) year ended December...
Trener Exercise Equipment, Inc. reported the following financial statements for 2018 me the conto the income ment) Cho w com e shot) Requirement 1. Compute the amount of Trapor Exercise's acquisition of p on poss r ayor Exercise disposed of plant book value the cost and som e depreciation of the disposed asset was $42.300 No cash was received The actions of plants amounts to Peguirements 1. Comote the amount of Traynor Exercises acquisition of plants . Assum the acquisition...
Superior Exercise Equipment, Inc. reported the following
financial statements for 2018:
Requirements
1.) Computer the amount of Superior Exercise's acquisition of
plant assets. Assume the acquisition was for cash. Superior
Exercise disposed of plant assets at book value. The cost and
accumulated depreciation of the disposed asset was $45,700. No cash
was received upon disposal.
2.) Compute new borrowing or payment of long-term notes payable,
with Superior Exercise having only one long-term notes payable
transaction during the year.
3.) Computer...
Please explain how each answer was received. Thank you!
2x EC-23 (similar to) Question Help Jetson Exercise Equipment, Inc. reported the following financial statements for 2018: E: (Click the icon to view the income statement.) : (Click the icon to view the comparative balance sheet.) Read the requirements. Requirement 1. Compute the amount of Jetson Exercise's acquisition of plant assets. Jetson Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $49,200....
Motorsports of Philadelphia, Inc., reported the following financial statements for 2018: (Click the icon to view the income statement.) 3 (Click the icon to view the comparative balance sheets.) Read the requirement. a. Calculate the new borrowing or payment of long-term notes payable. Motorsports of Philadelphia had only one long-term note payable transaction during the year. The of long-term notes payable is $ | thousand. Reference Motorsports of Philadelphia, Inc. Income Statement Year Ended December 31, 2018 (In thousands) 700...
Top Notch, Inc., reported the following selected amounts in its financial statements for the year ended December 31, 2018: (Click the icon to view the financial statements.) Read the requirement. i Data Table a. Collections from customers during 2018 Collections from customers are $ 354,900 Income Statement 2018 2017 b. Payments for inventory during 2018 Payments for inventory are 315,000 159,000 22,400 45,000 20,600 68,000 i Requirement 1. Determine the following for Top Notch, Inc., during 2018, a. Collections from...
Most questions answered within 3 hours.
-
What are the decimal numbers for 159, 150, 200, 113, 225, 87,
106, 81 when converted...
asked 2 minutes ago -
Calculate and plot the number and weight distributions of x-mers
found in a step-growth polymerization for...
asked 22 minutes ago -
The Baily Corporation has developed a specialized software
program that improves inventory control capability. The following...
asked 25 minutes ago -
Problem 5-4A (Part Level Submission) Wolford Department Store is
located in midtown Metropolis. During the past...
asked 26 minutes ago -
Preparation of Benzoic Acid using a Grignard Reagent URGENT
1. During your Grignard formation, a small...
asked 49 minutes ago -
A uniform magnetic field is perpendicular to the plane of a wire
loop. If the loop...
asked 47 minutes ago -
At the peak of your career, your were earning $120,000 and
holding a top level position....
asked 51 minutes ago -
. A permanent magnet is dropped south-end-down through a horizontal
circular coil with a radius of...
asked 53 minutes ago -
Bernie's Beverages purchased some fixed assets classified as
5-year property for MACRS. The assets cost $28,000....
asked 1 hour ago -
How many ATPs are produced from the catabolism of a 10-C
molecule of fatty acid under...
asked 1 hour ago -
Before practicing a routine on the rings, a 64.8 kg gymnast
hangs motionless, with one hand...
asked 1 hour ago -
If the K b of a weak base is 6.3 × 10 − 6 , what...
asked 1 hour ago