Homework Answers
a. Total long term debt in 2016 $185,000 which is arrived as Total assets Less: Share capital of $370k, Retained earnings of $285K and Current Liabilities of $360k
b. In 2016, total Liabilities of Wallace Landscape were $ 545,000 (Long term Liability & Current Liability)
c. The Company would need only $640 based on the total assets concept which is valued at $1,560,000 in 2017
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Long-Term Financing Needed At year-end 2016, Wallace Landscaping's total assets were $1.2 million, and its accounts...
Long-Term Financing Needed At year-end 2016, Wallace Landscaping's total assets were $1.8 million, and its accounts...
Long-Term Financing Needed At year-end 2016, Wallace Landscaping's total assets were $1.8 million, and its accounts payable were $310,000. Sales, which in 2016 were $2.8 million, are expected to increase by 30% in 2017. Total assets and accounts payable are proportional to relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $470,000 in 2016, and retained earnings were $220,000. Wallace has arranged to sell $60,000 of new common stock in 2017...
Problem 12-05 Long-Term Financing Needed At year-end 2016, Wallace Landscaping's total assets were $1.8 million, and...
Problem 12-05 Long-Term Financing Needed At year-end 2016, Wallace Landscaping's total assets were $1.8 million, and its accounts payable were $370,000. Sales, which in 2016 were $2.9 million, are expected to increase by 20% in 2017. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $440,000 in 2016, and retained earnings were $265,000. Wallace has arranged to sell $65,000 of...
Long-Term Financing Needed At year-end 2016, Wallace Landscaping’s total assets were $1.7 million, and its accounts...
Long-Term Financing Needed At year-end 2016, Wallace Landscaping’s total assets were $1.7 million, and its accounts payable were $300,000. Sales, which in 2016 were $2.6 million, are expected to increase by 25% in 2017. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $465,000 in 2016, and retained earnings were $295,000. Wallace has arranged to sell $130,000 of new common...
I can not figure out the last blank. Long-Term Financing Needed At year-end 2016, Wallace Landscaping's...
I can not figure out the last blank.
Long-Term Financing Needed At year-end 2016, Wallace Landscaping's total assets were $1.2 million, and its accounts payable were $360,000. Sales, which in 2016 were $2.7 million, are expected to increase by 30% in 2017. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $370,000 in 2016, and retained earnings were $285,000. Wallace...
Long-Term Financing Needed At year-end 2019, Wallace Landscaping's total assets were $2.30 million, and its accounts pa...
Long-Term Financing Needed At year-end 2019, Wallace Landscaping's total assets were $2.30 million, and its accounts payable were $340,000. Sales, which in 2019 were $3.1 million, are expected to increase by 25% in 2020. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $590,000 in 2019, and retained earnings were $215,000. Wallace has arranged to sell $100,000 of new common...
Long-Term Financing Needed At year-end 2018, Wallace Landscaping's total assets were S 1.62 milli...
Long-Term Financing Needed At year-end 2018, Wallace Landscaping's total assets were S 1.62 million, and its accounts payable were $565,000. Sales, which in 2018 were $2.9 million, are expected to increase by 25% in 2019. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $400,000 in 2018, and retalned earnings were $375,000. wallace has arranged to sell $150,000 of new...
Long-Term Financing Needed At year-end 2015, Wallace Landscaping’s total assets were $1.7 million and its accounts...
Long-Term Financing Needed At year-end 2015, Wallace Landscaping’s total assets were $1.7 million and its accounts payable were $315,000. Sales, which in 2015 were $2.7 million, are expected to increase by 20% in 2016. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $430,000 in 2015, and retained earnings were $330,000. Wallace has arranged to sell $85,000 of new common...
At year-end 2016, Wallace Landscaping’s total assets were $1.7 million, and its accounts payable ...
At year-end 2016, Wallace Landscaping’s total assets were $1.7 million, and its accounts payable were $385,000. Sales, which in 2016 were $2.2 million, are expected to increase by 25% in 2017. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $420,000 in 2016, and retained earnings were $265,000. Wallace has arranged to sell $175,000 of new common stock in 2017...
At year-end 2016, Wallace Landscaping’s total assets were $1.6 million, and its accounts payable were $445,000....
At year-end 2016, Wallace Landscaping’s total assets were $1.6 million, and its accounts payable were $445,000. Sales, which in 2016 were $2.2 million, are expected to increase by 25% in 2017. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $445,000 in 2016, and retained earnings were $340,000. Wallace has arranged to sell $115,000 of new common stock in 2017...
At year-end 2016, Wallace Landscaping’s total assets were $1.6 million, and its accounts payable were $345,000....
At year-end 2016, Wallace Landscaping’s total assets were $1.6 million, and its accounts payable were $345,000. Sales, which in 2016 were $2.7 million, are expected to increase by 30% in 2017. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $365,000 in 2016, and retained earnings were $300,000. Wallace has arranged to sell $150,000 of new common stock in 2017...
Long-Term Financing Needed At year-end 2016, Wallace Landscaping's total assets were $1.8 million, and its accounts payable were $310,000. Sales, which in 2016 were $2.8 million, are expected to increase by 30% in 2017. Total assets and accounts payable are proportional to relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $470,000 in 2016, and retained earnings were $220,000. Wallace has arranged to sell $60,000 of new common stock in 2017...
Problem 12-05 Long-Term Financing Needed At year-end 2016, Wallace Landscaping's total assets were $1.8 million, and its accounts payable were $370,000. Sales, which in 2016 were $2.9 million, are expected to increase by 20% in 2017. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $440,000 in 2016, and retained earnings were $265,000. Wallace has arranged to sell $65,000 of...
I can not figure out the last blank.
Long-Term Financing Needed At year-end 2016, Wallace Landscaping's total assets were $1.2 million, and its accounts payable were $360,000. Sales, which in 2016 were $2.7 million, are expected to increase by 30% in 2017. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $370,000 in 2016, and retained earnings were $285,000. Wallace...
Long-Term Financing Needed At year-end 2019, Wallace Landscaping's total assets were $2.30 million, and its accounts payable were $340,000. Sales, which in 2019 were $3.1 million, are expected to increase by 25% in 2020. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $590,000 in 2019, and retained earnings were $215,000. Wallace has arranged to sell $100,000 of new common...
Long-Term Financing Needed At year-end 2018, Wallace Landscaping's total assets were S 1.62 million, and its accounts payable were $565,000. Sales, which in 2018 were $2.9 million, are expected to increase by 25% in 2019. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $400,000 in 2018, and retalned earnings were $375,000. wallace has arranged to sell $150,000 of new...
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