Homework Answers
Calculating Cash from components of balance sheet
Total assets = total liabilities + total equity
Cash = total liabilities +total equity - Receivables - Inventories - Net fixed assets
| Assets | Prior year | Current year |
| Cash and Cash equivalent | $ 17,500 | $ 19,744 |
| Receivables | $ 1,15,200 | $ 1,22,400 |
| Inventory | $ 1,11,600 | $ 1,15,200 |
| Current Assets | $ 2,44,300 | $ 2,57,344 |
| Net Fixed assets | $ 3,76,853 | $ 3,99,600 |
| Total Assets | $ 6,21,153 | $ 6,56,944 |
| Liabilities and equity | ||
| Accounts payable | $ 41,400 | $ 45,000 |
| Accruals | $ 16,200 | $ 13,500 |
| Notes Payable | $ 59,400 | $ 64,800 |
| Total Current liabilities | $ 1,17,000 | $ 1,23,300 |
| Long term debt | $ 1,35,000 | $ 1,38,184 |
| Total Liabilities | $ 2,52,000 | $ 2,61,484 |
| common stock ($1 par) | $ 37,600 | $ 42,000 |
| Retained Earning | $ 1,22,400 | $ 1,36,800 |
| Paid in capital | $ 2,00,000 | $ 2,16,660 |
| Total equity | $ 3,60,000 | $ 3,95,460 |
| Total debt and equity | $ 6,12,000 | $ 6,56,944 |
long-term debt on a common-sized balance sheet = Long-term debt/total assets = 138184/656944 = 21.03%
ROE = NI/total equity
NI = Sales - COGS - Operating Expenses -Dept - Interest - tax = 339408 - 175906 - 68323 - 22480 - 16623 - 18705 = 37371
So, ROE = 37371/395460 = 9.45%
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What is the current year's cash balance?
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Hello, I desperately need help with this accounting scenario, I cannot figure out. I am being...
Hello, I desperately need help with this accounting scenario, I
cannot figure out. I am being asked to find the current year's
return on assets (ROA). I keep getting the incorrect answer and it
tells me that the correct answer is 5.83%. Any help would be
greatly appreciated! Thank You!
Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500 Additional paid in capital 200,000 216,660 Cash 777 ??? Common Stock @par value 37,600...
Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16.200 13,500...
Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16.200 13,500 Additional paid in capital 200.000 216,660 Cash 772 222 Common Stock @ par value 37.600 42.000 COGS 131 400 170.220.00 Depreciation expense 21.600 23,699.00 Interest expense 16,200 16.542.00 Inventories 111 600 115.200 Inventories 111,6001 15,200 Long-term debt 135,000 138,363.00 Net fixed assets 377,150.00 399,600 Notes payable 59,400 64,800 Operating expenses (excl. depr.) 50,400 69.132.00 Retained earnings 122,400 136.800 Sales 55,600 337 44700 Taxes es...
Hello, I desperately need help with this accounting scenario, I cannot figure out. I am being...
Hello, I desperately need help with this accounting scenario, I
cannot figure out. I am being asked to find the current year's
return on equity (ROE). I keep getting the incorrect answer and it
tells me that the correct answer is 9.11%. Any help would be
greatly appreciated! Thank You!
Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500 Additional paid in capital 200,000 216,660 Cash ??? 722 Common Stock @ par value...
What is the current year's cash balance?
What is the current year's return on equity (ROE)?
What is the current year's entry for long term debt on a
common-sized balance sheet?
THIS IS ALL THE INFORMATION GIVEN
Category Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500 Additional paid in capital 200,000 216,660 Cash 777 772 Common Stock @ par value 37,600 42,000 COGS 131,400 178,243.00 Depreciation expense 21,600 22,453.00 Interest expense 16,200 16,617.00 Inventories 111,600 115.200 Long-term...
What is the current year's cash balance?
please highlight answer
120 Category Prior year Current Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500 Additional paid in capital 200,000 216,660 Cash 772 m Common Stock @ par value 37,600 42,000 COGS 131,400 178,070.00 Depreciation expense 21,600 22.787.00 interest expense 16,200 16,036.00 Inventories 111,600 115.200 Long-term debt 135,000 139,508.00 Net fixed assets 376,543.00 399,600 Notes payable 59,400 64,800 Operating expenses (excl. depr.) 50,400 63.214.00 Retained earings 122,400 136.800 Sales...
Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115.200 122.400 Accruals 16,200 13,500 Additional paid in capital 200,000 216,660 Cash ??? ??? Common Stock @ par value 37,600 42.000 COGS 131,400 174.917.00 Depreciation expense 21,600 23.192.00 Interest expense 16,200 16,416.00 Inventories 111,600 115.200 Long-term debt 135,000 138,338.00 Net fixed assets 375,800.00 399.600 Notes payable 59,400 64.800 50,400 61,277.00 Operating expenses (excl. depr.) Retained earnings 122.400 136.800 Sales 255,600 338.488.00 Taxes 9.900 19,273.00 What is the entry for...
Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500 Additional paid in capital 200,000 216,660 Cash ??? ??? Common Stock @ par value 37,600 42,000 COGS 131,400 178,442.00 Depreciation expense 21,600 23,886.00 Interest expense 16,200 16,553.00 Inventories 111,600 115,200 Long-term debt 135,000 138, 160.00 Net fixed assets 377,219.00 399,600 Notes payable 59,400 64,800 50,400 65,252.00 Operating expenses (excl. depr.) Retained earnings 122,400 136,800 Sales 255,600 339,952.00 Taxes 9,900 19,348.00 What is the current year's cash balance? Submit Answer...
Hello, I desperately need help with this accounting scenario, I
cannot figure out. I am being asked to find the current year's
return on assets (ROA). I keep getting the incorrect answer and it
tells me that the correct answer is 5.83%. Any help would be
greatly appreciated! Thank You!
Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500 Additional paid in capital 200,000 216,660 Cash 777 ??? Common Stock @par value 37,600...
Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16.200 13,500 Additional paid in capital 200.000 216,660 Cash 772 222 Common Stock @ par value 37.600 42.000 COGS 131 400 170.220.00 Depreciation expense 21.600 23,699.00 Interest expense 16,200 16.542.00 Inventories 111 600 115.200 Inventories 111,6001 15,200 Long-term debt 135,000 138,363.00 Net fixed assets 377,150.00 399,600 Notes payable 59,400 64,800 Operating expenses (excl. depr.) 50,400 69.132.00 Retained earnings 122,400 136.800 Sales 55,600 337 44700 Taxes es...
Hello, I desperately need help with this accounting scenario, I
cannot figure out. I am being asked to find the current year's
return on equity (ROE). I keep getting the incorrect answer and it
tells me that the correct answer is 9.11%. Any help would be
greatly appreciated! Thank You!
Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500 Additional paid in capital 200,000 216,660 Cash ??? 722 Common Stock @ par value...
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