Homework Answers
Solution:
Total Expenses = Cost of goods sold + Management costs + R&D Expenses + Sales Expenses + Other taxes & fees + Depreciation
Cost of Goods sold (1) = 750 – (40+60+80+20+100)
= 750 – 300
= 450
Profit Before Tax (2) = Sales – Total Expenses
= 900 – 750
= 150
Taxes (3) = 30% of PBT
= 30/100 * 150
= 45
Net Profit (4) = PBT – Taxes
= 150 - 45
= 105
Total Asset = Current asset + Fixed asset
For year 2024:
Total Asset (7) = 510+20+10+85+50+120 = 795
Therefore, Total Asset (7) = Liabilities & Equities (11)
Liabilities & Equities (11) = Current Liabilities + Owner’s Equities
795 = 20 + Owner’s Equities
795 – 20 = Owner’s Equities
775 = Owner’s Equities (9)
Owner’s Equity (8) = Owner’s Equity (9) - net equity change
Net equity change value is taken from the diagram given
Owner’s Equity (8) = 775 - 105
= 670
Liabilities & Equities (10) = 0 + 670
= 670
Therefore, Assets (6) = 670
Assets at start 2024 (6) = cash flow at beginning + Acc. Receivable + Inventories + Fixed assets
670 = Cash flow at the beginning + 10 + 30 + 90 + 40 + 100
Cash flow at the beginning (5) = 400
Add Answer to:
3. (50% Marks) Use the information in given in the Income Statement, Balance Sheet, and Purcell...
1. Use the Income Statement and the Balance Sheet in Tables 2.3 and 2.4 to complete...
1. Use the Income Statement and the Balance Sheet in Tables 2.3 and 2.4 to complete the Purcell Diagram for the Financial Flows for the Shawnee Corporation in Figure 2.2. The equipment purchased during the year was 70 and the labor was the same as 2020. Fill in the blanks in Table 2.4 and in the Purcell Diagram of Figure 2.2. Table 2.3: Income statement for Shawnee Corporation for 2021 Income Statement Shawnee Corporation 2021 (End-of-Year) Sales 655 Expenses Cost...
1) Based on the balance sheet and income statement information given below, calculate the following financial...
1) Based on the balance sheet and income statement information
given below, calculate the following financial ratios and explain
briefly what the number you calculated means:
a) Current ratio
b) Acid-test ratio
c) Days in receivables
d) Debt ratio
e) Return on equity
Assets: Cash and marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Fixed assets Less: accum. depr. Net fixed assets Total assets $600,000 900,000 1,500,000 75,000 $3,075,000 8,000,000 (2,075,000) $5,925,000 $9,000,000 Liabilities: Accounts payable Notes payable...
1) Based on the balance sheet and income statement information given below, calculate the following financial...
1) Based on the balance sheet and income statement information
given below, calculate the following financial ratios and explain
briefly what the number you calculated means:
a) Current ratio
b) Acid-test ratio
c) Days in receivables
d) Debt ratio
e) Return on equity
Assets: Cash and marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Fixed assets Less: accum. depr. Net fixed assets Total assets $600,000 900,000 1,500,000 75,000 $3,075,000 8,000,000 (2,075,000) $5,925,000 $9,000,000 Liabilities: Accounts payable Notes payable...
(Computing ratios) Use the information from the balance sheet and income statement in the popup window,...
(Computing ratios) Use the information from the balance sheet and income statement in the popup window, to calculate the following ratios: a. Current ratio b. Acid-test ratio c. Times interest earned d. Inventory turnover e. Total asset turnover f. Operating profit margin g. Days in receivables h. Operating return on assets i. Debt ratio j. Return on equity k. Fixed asset turnover a. The current ratio is X. (Round to two decimal places.) Cash Accounts receivable Inventory 99,000 31,000 50,000...
Use the following balance sheet and income statement information to answer quest ions 6 to 11:...
Use the following balance sheet and income statement information to answer quest ions 6 to 11: Assets: Cash Accounts Rec. Inventory S 150,000 450,000 $6,000,000 Sales Cost of Goods Sold 3,000,000 Other Expenses 250.000 Current Assets Net Fixed Assets Total Assets 1,200,000 1800,000 $3,000.000 EBIT 2,250,000 Interest Exp. Income Taxes 750.000 Liabilities& Owner's Equity Accts. Payable Notes Payable (ST) 150,000 150,000 Net Income (EAT) 750,000 Current Liabilities $ 300,000 Long-term Debt 1,200,000 Common Equity 1500.000 Total Debt & Eq. $3.000,000...
The Balance Sheet and the Income Statement for ABC Manufacturing Corporation are as follows: DATA (All...
The Balance Sheet and the Income Statement for ABC Manufacturing Corporation are as follows: DATA (All amounts in SAR unless otherwise indicated, all sales are on credit and no hard keys.) Balance Sheet: ABC Corporation Balance Sheet 2019 Cash 310 Accounts receivable 685 Inventories 600 Other current assets 105 Total current assets 1,700 Gross fixed assets 3,750 Accumulated depreciation -1,500 Net fixed assets 2,250 Total assets 3,950 LIABILITIES (DEBT) AND EQUITY Accounts payable 350 Short-term notes payable 250 Total current...
Use the balance sheet and income statement below: CLANCY’S DOG BISCUIT CORPORATION Balance Sheet as of...
Use the balance sheet and income statement below: CLANCY’S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2018 and 2017 (in millions of dollars) Assets 2018 2017 Liabilities and Equity 2018 2017 Current assets: Current liabilities: Cash and marketable securities $ 8 $ 8 Accrued wages and taxes $ 13 $ 7 Accounts receivable 38 30 Accounts payable 27 25 Inventory 41 35 Notes payable 25 23 Total $ 87 $ 73 Total $ 65 $ 55 Fixed assets:...
Freiman Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...
Freiman Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 170 $ 130 Accounts receivable, net 245 265 Inventory 130 140 Prepaid expenses 45 45 Total current assets 590 580 Plant and equipment, net 750 750 Total assets $ 1,340 $ 1,330 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 140 $ 160 Accrued liabilities 95...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 155200 250 170 20 640 780 230 200 20 605 790 Total current assets Plant and equipment, net Total assets $1,395 $1,420 Liabilities and Stockholders' Equity Current liabilities: $ 170 200 50 40 290 190 480 Accounts payable Accrued liabilities Notes...
2) You've obtained the following balance sheet information for 2015 & 2016 along with income statement...
2) You've obtained the following balance sheet information for 2015 & 2016 along with income statement information for 2016 Categor Crrent Assets 2015 S50 2016 $80 2016 $50 Categor Sales Cost of Goods Sold Interest Expense 420 60 $24 S5 Net Fixed Assets Accounts Payable Accrued Expenses Long-term Debt Owner's Equity 250 30 25 150 95 40 250 150 Depreciation Tax Rate S6 30% a)Calculate the Operating Cash Flow for 2016 b)Calculate the Free Cash Flow for 2016 c)What is...
1. Use the Income Statement and the Balance Sheet in Tables 2.3 and 2.4 to complete the Purcell Diagram for the Financial Flows for the Shawnee Corporation in Figure 2.2. The equipment purchased during the year was 70 and the labor was the same as 2020. Fill in the blanks in Table 2.4 and in the Purcell Diagram of Figure 2.2. Table 2.3: Income statement for Shawnee Corporation for 2021 Income Statement Shawnee Corporation 2021 (End-of-Year) Sales 655 Expenses Cost...
1) Based on the balance sheet and income statement information
given below, calculate the following financial ratios and explain
briefly what the number you calculated means:
a) Current ratio
b) Acid-test ratio
c) Days in receivables
d) Debt ratio
e) Return on equity
Assets: Cash and marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Fixed assets Less: accum. depr. Net fixed assets Total assets $600,000 900,000 1,500,000 75,000 $3,075,000 8,000,000 (2,075,000) $5,925,000 $9,000,000 Liabilities: Accounts payable Notes payable...
1) Based on the balance sheet and income statement information
given below, calculate the following financial ratios and explain
briefly what the number you calculated means:
a) Current ratio
b) Acid-test ratio
c) Days in receivables
d) Debt ratio
e) Return on equity
Assets: Cash and marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Fixed assets Less: accum. depr. Net fixed assets Total assets $600,000 900,000 1,500,000 75,000 $3,075,000 8,000,000 (2,075,000) $5,925,000 $9,000,000 Liabilities: Accounts payable Notes payable...
(Computing ratios) Use the information from the balance sheet and income statement in the popup window, to calculate the following ratios: a. Current ratio b. Acid-test ratio c. Times interest earned d. Inventory turnover e. Total asset turnover f. Operating profit margin g. Days in receivables h. Operating return on assets i. Debt ratio j. Return on equity k. Fixed asset turnover a. The current ratio is X. (Round to two decimal places.) Cash Accounts receivable Inventory 99,000 31,000 50,000...
Use the following balance sheet and income statement information to answer quest ions 6 to 11: Assets: Cash Accounts Rec. Inventory S 150,000 450,000 $6,000,000 Sales Cost of Goods Sold 3,000,000 Other Expenses 250.000 Current Assets Net Fixed Assets Total Assets 1,200,000 1800,000 $3,000.000 EBIT 2,250,000 Interest Exp. Income Taxes 750.000 Liabilities& Owner's Equity Accts. Payable Notes Payable (ST) 150,000 150,000 Net Income (EAT) 750,000 Current Liabilities $ 300,000 Long-term Debt 1,200,000 Common Equity 1500.000 Total Debt & Eq. $3.000,000...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 155200 250 170 20 640 780 230 200 20 605 790 Total current assets Plant and equipment, net Total assets $1,395 $1,420 Liabilities and Stockholders' Equity Current liabilities: $ 170 200 50 40 290 190 480 Accounts payable Accrued liabilities Notes...
2) You've obtained the following balance sheet information for 2015 & 2016 along with income statement information for 2016 Categor Crrent Assets 2015 S50 2016 $80 2016 $50 Categor Sales Cost of Goods Sold Interest Expense 420 60 $24 S5 Net Fixed Assets Accounts Payable Accrued Expenses Long-term Debt Owner's Equity 250 30 25 150 95 40 250 150 Depreciation Tax Rate S6 30% a)Calculate the Operating Cash Flow for 2016 b)Calculate the Free Cash Flow for 2016 c)What is...
Most questions answered within 3 hours.
-
Rice Products in Bangladesh
Business behavior is derived in large part from the basic cultural
environment...
asked 53 minutes ago -
The following base sequence is found for a mRNA fragment from
wild-type E. coli: 5'- UAUCAGUAGAUAAUGUAACC-3'...
asked 1 hour ago -
For this exercise, round all regression parameters to three
decimal places.
One of the two tables...
asked 1 hour ago -
What is the 5% level of significance for mean = 3.60, standard
deviation = 0.94, and...
asked 1 hour ago -
Prior to beginning work on this discussion, please read the
article by Hayley Peterson, 15 Companies...
asked 2 hours ago -
Which pair of aqueous solutions, when mixed, will form a
precipitate?
A) NaNO3 and AgC2H3O2
B)...
asked 2 hours ago -
1-Write an algorithm to get two numbers from the user (as
inputs) and calculate the sum...
asked 5 hours ago -
Define white-collar crime. What is the difference between
offender and offense-based definitions of white-collar crime? What...
asked 6 hours ago -
Consider a reaction which is 1st order with respect to A and 1st
order with respect...
asked 6 hours ago -
c++
The length of the hypotenuse of a right-angled triangle is the
square root of the...
asked 6 hours ago -
When a metal rod is heated, not only its resistance but also its
length and cross‐sectional...
asked 6 hours ago -
write a c++ program that computes the L^1 - Norm of a given
vector (L^1 norm...
asked 6 hours ago