Homework Answers
Correct answer is option B.7845
Calculation of change in working capital
Beginning Working Capital = Beginning Current Assets - Beginning
Current Liabilities
Beginning Working Capital = [30,000+29,503+126,550] - 57,300
Beginning Working Capital = 128,753
Ending Working Capital = Ending Current Assets - Ending Current
Liabilities
Ending Working Capital = [30,000+27,501+128,300]-49,203
Ending Working Capital = 136,598
Change in Net Working Capital = Ending Working Capital -
Beginning Working Capital
Change in Net Working Capital = 136,598-128,753
Change in Net Working Capital = 7845
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QUESTION 41 Balance Sheet Cash & MS Receivables Inventones Fixed Assets 20,000 Accruals 30,000 Accounts Payable...
QUESTION 41 Balance Sheet Cash & MS Receivables Inventones Fixed Assets 20,000 Accruals 30,000 Accounts Payable Notes Pavable 80,000 50,000Liabilities Common Equity Total . 200000 Total Assets AnnuarSales-- ST50000 Cost OTGoodsSaa-T1200000 Net Income umber of Shares Outstanding Stock price $60 QUESTION 42 What is the inventory turnover ratio of the firm? (Use a 360-day year.) O 4.5 05 O 7.5 O 10 O 15
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Assets 2017 2018 Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2017 and 2018...
Assets 2017 2018 Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 15,120 Accounts payable $ 61,600 25,200 Notes payable 14,400 89,040 $ 7,400 23,400 76,200 $ 62,160 18,240 Total $ 107,000 $ 129,360 Total $ 76,000 $ 80,400 $ 48,000 $ 36,000 Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings $ 60,000 216,000 $ 60,000 303,600 Net plant and equipment $293,000...
Blauser's started the year with $280 in cash, $924 in inventory, $361 in accounts payable, $1,687...
Blauser's started the year with $280 in cash, $924 in inventory, $361 in accounts payable, $1,687 in equipment, and $414 in accounts receivable. At year's end, the firm had $311 in cash, $1,594 in equipment, $1,003 in inventory, $426 in accounts receivable, and $398 in accounts payable. What was the change in net working capital during the year? A. -$860 B $191 C $85 D -$94 E -$206
Blossom Co. Balance Sheet (Partial) As of December 31, 2017 Cash $17,000 Accounts payable $27,000 Accounts...
Blossom Co. Balance Sheet (Partial) As of December 31, 2017 Cash $17,000 Accounts payable $27,000 Accounts receivable $38,000 Notes payable 13,000 Less: Allowance for doubtful accounts 1,000 37,000 Unearned revenue 2,000 Inventory 61,000 Total current liabilities $42,000 Prepaid expenses 5,000 Total current assets $120,000 The following errors in the corporation's accounting have been discovered: 1. Keane collected $3,400 on December 20, 2017 as a down payment for services to be performed in January, 2018. The company's controller recorded the amount...
XYZ balance sheet lists $15,000 cash, $26,000 inventory, $37,000 account receivables, $24,000 account payable and $39,000...
XYZ balance sheet lists $15,000 cash, $26,000 inventory, $37,000 account receivables, $24,000 account payable and $39,000 short-term debt. Calculate the "net" working capital.
JohnBoy Industries has a cash balance of $45,000, accounts payable of $125,000, inventory of $175,000, accounts...
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Aloha Company reports the following information at December 31, 2017: Revenue $150,000 Cash 30,000 Accounts payable...
Aloha Company reports the following information at December 31, 2017: Revenue $150,000 Cash 30,000 Accounts payable 40,000 Dividends 10,000 Expenses 85,000 What is Aloha Company's net income?
Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory $ 24,236 14,348 27,892 $ 26,000...
Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory $ 24,236 14,348 27,892 $ 26,000 17,100 29.000 $ 72,100 Liabilities and Owners' Equity 2017 Current liabilities Accounts payable $ 25,084 Notes payable 19,000 Other 13,471 $ 29,000 12,700 18,300 Total $ 66,476 Total $ 57,555 $ 60,000 $ 87,698 Long-term debt $ 88,000 S 45.000 Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 45,000 219,616 244,302 Fixed assets Net plant and equipment $343,695 $364 900 Total...
2018 2017 Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Total Assets 60,000 $ 53,000 30,000 0 146,000 132,000 277,000 252,000 495,000 535,000 265,000 202,000 44,000 56,000 170,000 178,000 48,000 44,000 Total Current Liabilities Long-term Note Payable Income from Operations Interest Expense Compute the following ratios for 2018 and 2017, and evaluate the company's ability to pay its current liabilities and total liabilities: a. Current ratio d. Debt ratio b. Cash ratio e. Debt to equity ratio c. Acid-test ratio
QUESTION 41 Balance Sheet Cash & MS Receivables Inventones Fixed Assets 20,000 Accruals 30,000 Accounts Payable Notes Pavable 80,000 50,000Liabilities Common Equity Total . 200000 Total Assets AnnuarSales-- ST50000 Cost OTGoodsSaa-T1200000 Net Income umber of Shares Outstanding Stock price $60 QUESTION 42 What is the inventory turnover ratio of the firm? (Use a 360-day year.) O 4.5 05 O 7.5 O 10 O 15
2018 2017 Assets Cash and equivalents $14,000 11,000 Accounts receivable 35,000 30,000 Inventories 30,120 27,000 Total current assets 79,120 68,000 Net plant and equipment 48,000 45,000 Total assets $127,120 $113,000 Liabilities and Equity Accounts payable 8,500 10,500 Accruals 7,600 6,000 Notes payable 6,100 5,150 $ 19,650 Total current liabilities 24,200 Long-term bonds 10,000 10,000 $29,650 Total liabilities 34,200 Common stock (4,000 shares) 50,000 50,000 Retained earnings 42,920 33,350 Common equity 92,920 83,350 Total liabilities and equity $127,120 $113,000 Income Statement...
Assets 2017 2018 Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 15,120 Accounts payable $ 61,600 25,200 Notes payable 14,400 89,040 $ 7,400 23,400 76,200 $ 62,160 18,240 Total $ 107,000 $ 129,360 Total $ 76,000 $ 80,400 $ 48,000 $ 36,000 Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings $ 60,000 216,000 $ 60,000 303,600 Net plant and equipment $293,000...
Blossom Co. Balance Sheet (Partial) As of December 31, 2017 Cash $17,000 Accounts payable $27,000 Accounts receivable $38,000 Notes payable 13,000 Less: Allowance for doubtful accounts 1,000 37,000 Unearned revenue 2,000 Inventory 61,000 Total current liabilities $42,000 Prepaid expenses 5,000 Total current assets $120,000 The following errors in the corporation's accounting have been discovered: 1. Keane collected $3,400 on December 20, 2017 as a down payment for services to be performed in January, 2018. The company's controller recorded the amount...
Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory $ 24,236 14,348 27,892 $ 26,000 17,100 29.000 $ 72,100 Liabilities and Owners' Equity 2017 Current liabilities Accounts payable $ 25,084 Notes payable 19,000 Other 13,471 $ 29,000 12,700 18,300 Total $ 66,476 Total $ 57,555 $ 60,000 $ 87,698 Long-term debt $ 88,000 S 45.000 Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 45,000 219,616 244,302 Fixed assets Net plant and equipment $343,695 $364 900 Total...
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