Valley Technology Balance Sheet As of December 31, 2018 (amounts in thousands) |
|||
---|---|---|---|
Cash | 97,000 | Accounts Payable | 15,000 |
Accounts Receivable | 45,000 | Debt | 29,000 |
Inventory | 38,000 | Other Liabilities | 8,000 |
Property Plant & Equipment, Gross | 239,000 | Total Liabilities | 52,000 |
Accumulated Depreciation | 75,000 | Paid-In Capital | 73,000 |
Property Plant & Equipment, Net | 164,000 | Retained Earnings | 236,000 |
Other Assets | 17,000 | Total Equity | 309,000 |
Total Assets | 361,000 | Total Liabilities & Equity | 361,000 |
Valley Technology Balance Sheet As of March 31, 2019 (amounts in thousands) |
|||
---|---|---|---|
Cash | 101,000 | Accounts Payable | 7,000 |
Accounts Receivable | 46,000 | Debt | 19,000 |
Inventory | 33,000 | Other Liabilities | 24,485 |
Property Plant & Equipment, Gross | 239,000 | Total Liabilities | 50,485 |
Accumulated Depreciation | 76,000 | Paid-In Capital | 73,000 |
Property Plant & Equipment, Net | 163,000 | Retained Earnings | 237,515 |
Other Assets | 18,000 | Total Equity | 310,515 |
Total Assets | 361,000 | Total Liabilities & Equity | 361,000 |
Revenue and expenses information from January 1 to March 31,
2019 were:
Sales Revenue of $8,800,000
COGS of 35% of Sales
Interest of $80,000
Other Expenses of $200,000
SG&A of $1,760,000
Tax Rate of 36%
What is the net income in the first quarter of 2019?
Valley Technology Balance Sheet As of December 31, 2018 (amounts in thousands) Cash 97,000 Accounts Payable...
Use the starting balance sheet and statement of cash flows to answer the question. Valley Technology Balance Sheet As of December 31, 2018 (amounts in thousands) Cash 97,000 Accounts Payable 15,000 Accounts Receivable 45,000 Debt 29,000 Inventory 38,000 Other Liabilities 8,000 Property Plant & Equipment, Gross 239,000 Total Liabilities 52,000 Accumulated Depreciation 75,000 Paid-In Capital 73,000 Property Plant & Equipment, Net 164,000 Retained Earnings 236,000 Other Assets 17,000 Total Equity 309,000 Total Assets 361,000 Total Liabilities & Equity 361,000 Valley...
Valley Technology Balance Sheet As of March 11, 2019 (amounts in thousands) Cash 9,700 Accounts Payable 1,500 Accounts Receivable 4,500 Debt 2,900 Inventory 3,800 Other Liabilities 800 Property Plant & Equipment 16,400 Total Liabilities 5,200 Other Assets 1,700 Paid-In Capital 7,300 Retained Earnings 23,600 Total Equity 30,900 Total Assets 36,100 Total Liabilities & Equity 36,100 Use T-accounts to record the transactions below, which occur on March 12, 2019, close the T-accounts, and construct a balance sheet to answer the question....
Valley Technology Balance Sheet As of March 11, 2020 (amounts in thousands) Cash 9,700 Accounts Payable 1,500 Accounts Receivable 4,500 Debt 2,900 Inventory 3,800 Other Liabilities 800 Property Plant & Equipment 16,400 Total Liabilities 5,200 Other Assets 7,300 23,600 1,700 Paid-In Capital Retained Earnings Total Equity 36,100 Total Liabilities & Equity 30,900 36,100 Total Assets Use T-accounts to record the transactions below, which occur on March 12, 2020, close the T-accounts, and construct a balance sheet to answer the question....
Valley Technology Balance Sheet As of January 24, 2019 (amounts in thousands) Cash 9,700 Accounts Payable 1,500 Accounts Receivable 4,500 Debt 2,900 Inventory 3,800 Other Liabilities 800 Property Plant & Equipment 16,400 Total Liabilities 5,200 Other Assets 1,700 Paid-In Capital 7,300 Retained Earnings 23,600 Total Equity 30,900 Total Assets 36,100 Total Liabilities & Equity 36,100 Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a balance sheet to answer...
Question 2 Parts A-D A Use the starting balance sheet, income statement, and the list of changes to answer the question. Valley Technology Balance Sheet As of December 31, 2019 (amounts in thousands) Cash 22,000 Liabilities 36,000 Other Assets 28,000 Equity 14,000 Total Assets 50,000 Total Liabilities & Equity 50,000 Valley Technology Income Statement January 1 to March 31, 2020 (amounts in thousands) Revenue 7,200 Expenses 3,600 Net Income 3,600 Between January 1 and March 31, 2020: 1. Cash decreases...
Nippon Technology Balance Sheet As of March 11, 2019 (amounts in thousands) Cash 13,700 Accounts Payable 2,000 Accounts Receivable 3,200 Debt 3,600 Inventory 5,100 Other Liabilities 900 Property Plant & Equipment 15,400 Total Liabilities 6,500 Other Assets 800 Paid-In Capital 7,200 Retained Earnings 24,500 Total Equity 31,700 Total Assets 38,200 Total Liabilities & Equity 38,200 Use T-accounts to record the transactions below, which occur on March 12, 2019, close the T-accounts, and construct a balance sheet to answer the question....
Use the starting balance sheet and statement of cash flows to answer the question Nippon Technology Balance Sheet As of December 31, 2017 (amounts in thousands) Cash Accounts Receivable Inventory 137,000 Accounts Payable 20,000 36,000 9,000 65,000 72,000 245,000 317,000 382,000 32,000 Debt 51,000 Other Liabilities 227,000 Total Liabilities 73,000 Paid-In Capital 154,000 Retained Earnings Property Plant & Equipment, Gross Accumulated Depreciation Property Plant & Equipment, Net Other Assets Total Assets 8,000 Total Equity 382,000 Total Liabilities & Equity Nippon...
Valley Technology Balance Sheet As of January 24, 2019 (amounts in thousands) Cash 9,700 Accounts Payable 1,500 Accounts Receivable 4,500 Debt 2,900 Inventory 3,800 Other Liabilities 800 Property Plant & Equipment 16,400 Total Liabilities 5,200 Other Assets 1,700 Paid-In Capital 7,300 Retained Earnings 23,600 Total Equity 30,900 Total Assets 36,100 Total Liabilities & Equity 36,100 Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a balance sheet to answer...
Nippon Technology Balance Sheet As of January 24, 2019 (amounts in thousands) Cash 13,700 Accounts Payable 2,000 Accounts Receivable 3,200 Debt 3,600 Inventory 5,100 Other Liabilities 900 Property Plant & Equipment 15,400 Total Liabilities 6,500 Other Assets 800 Paid-In Capital 7,200 Retained Earnings 24,500 Total Equity 31,700 Total Assets 38,200 Total Liabilities & Equity 38,200 Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a balance sheet to answer...
Nippon Technology Balance Sheet As of January 24, 2019 (amounts in thousands) Cash 13,700 Accounts Payable 2,000 Accounts Receivable 3,200 Debt 3,600 Inventory 5,100 Other Liabilities 900 Property Plant & Equipment 15,400 Total Liabilities 6,500 Other Assets 800 Paid-In Capital 7,200 Retained Earnings 24,500 Total Equity 31,700 Total Assets 38,200 Total Liabilities & Equity 38,200 Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a balance sheet to answer...