Homework Answers
| Ans. | The Cougar Hotel | ||||||
| Condensed Balance Sheet | |||||||
| 20 X 1 | 20 X 2 | Changes | |||||
| $ | % | $ | % | $ | % | ||
| Assets | |||||||
| Current Assets: | |||||||
| Cash | $305,124 | 1.54% | $159,000 | 0.85% | -$146,124 | -47.89% | |
| Accounts receivable | $522,417 | 2.64% | $456,377 | 2.45% | -$66,040 | -12.64% | |
| Inventory | $199,000 | 1.00% | $247,000 | 1.33% | $48,000 | 24.12% | |
| Prepaid | $52,000 | 0.26% | $49,000 | 0.26% | -$3,000 | -5.77% | |
| Total current assets | $1,078,541 | 5.45% | $911,377 | 4.89% | -$167,164 | -15.50% | |
| Investments | $1,000,000 | 5.05% | $1,000,000 | 5.37% | $0 | 0.00% | |
| Property and equipment: | |||||||
| Land | $1,618,000 | 8.17% | $1,618,000 | 8.69% | $0 | 0.00% | |
| Building | $18,328,000 | 92.55% | $18,328,000 | 98.40% | $0 | 0.00% | |
| Equipment | $5,896,022 | 29.77% | $6,755,640 | 36.27% | $859,618 | 14.58% | |
| Accumulated depreciation | -$8,118,000 | -40.99% | -$9,987,560 | -53.62% | -$1,869,560 | 23.03% | |
| Net Property and Equipment | $17,724,022 | 89.50% | $16,714,080 | 89.74% | -$1,009,942 | -5.70% | |
| Total assets | $19,802,563 | 100.00% | $18,625,457 | 100.00% | -$1,177,106 | -5.94% | |
| Liabilities and Owner's Equity: | |||||||
| Current Liabilities: | |||||||
| Accounts payable | $325,699 | 1.64% | $338,790 | 1.82% | $13,091 | 4.02% | |
| Accrued expense | $507,353 | 2.56% | $308,765 | 1.66% | -$198,588 | -39.14% | |
| Advanced deposits | $200,561 | 1.01% | $250,970 | 1.35% | $50,409 | 25.13% | |
| Total current liabilities | $1,033,613 | 5.22% | $898,525 | 4.82% | -$135,088 | -13.07% | |
| Mortgage payable | $5,734,700 | 28.96% | $5,249,800 | 28.19% | -$484,900 | -8.46% | |
| Common stock | $3,000,000 | 15.15% | $3,000,000 | 16.11% | $0 | 0.00% | |
| Retained earnings | $10,034,250 | 50.67% | $9,477,132 | 50.88% | -$557,118 | -5.55% | |
| Total liabilities and owner's equity | $19,802,563 | 100.00% | $18,625,457 | 100.00% | -$1,177,106 | -5.94% | |
| Amount is percentage from assets side (20 X 1) = Particular amount from assets side (20 X 1) / Total assets (20 x 1) * 100 | |||||||
| Amount is percentage from liabilities side (20 X 1) = Particular amount from liability side (20 x 1)/ Total liabilities and owner's equity (20 X 1) * 100 | |||||||
| Amount is percentage from assets side (20 X 2) = Particular amount from assets side (20 X 2) / Total assets (20 x 2) * 100 | |||||||
| Amount is percentage from liabilities side (20 X 2) = Particular amount from liability side (20 x 2)/ Total liabilities and owner's equity (20 X 2) * 100 | |||||||
| Change in amount ($) = Particular amount of current year 20 X 2 - Particular amount of previous year 20 X 1 | |||||||
| Change in percentage (%) = Change in amount / particular amount of base (20 x 1) or previous year * 100 | |||||||
Add Answer to:
complete
The Cougar Hotel Condensed Balance Sheet December 31, 20X7 and 20x8 20x1 20x2 Changes Assets...
please complete condensed balance sheet. The Cougar Hotel Condensed Balance Sheet December 31, 20X7 and 20x8...
please complete condensed balance sheet.
The Cougar Hotel Condensed Balance Sheet December 31, 20X7 and 20x8 20x1 20x2 Changes Assets Current Assets Cash Accounts Receivable Inventory Prepaids Total Current Assets 305,124 522,417 199,000 52,000 1,078,541 159,000 456,377 247,000 49,000 911,377 0.85% 2.45% 1.33% 0.26% 4.89% Investments 1,000,000 1,000,000 5.37% Property and Equipment Land Building Equipment Accumulated Depreciation Net Property and Equipment 1,618,000 18,328,000 5,896,022 (8,118,000) 17,724,022 1,618,000 18,328,000 6,755,640 (9,987,560) 16,714,080 8.69% 98.40% 36.279 -53.62% 89.74% Total Assets 19,802,563 18,625,457...
*. Selected data for Stick's Design are given as of December 31, 20x7 and 20x8. 20x8...
*. Selected data for Stick's Design are given as of December 31, 20x7 and 20x8. 20x8 20x7 Net Sales $35,000 $30,000 Cost of Goods Sold 20,000 18,000 3,000 2,800 900 Accounts Receivable 1,500 2,000 3,000 3,600 4,500 5,000 Net Income 1,000 Inventory Current Liabilities Required: Compute the following Current ratio for 20x8 Acid-test ratio for 20x8 Accounts receivable turnover for 20x8 Average collection period for 20x8 Inventory turnover for 20x8 CONSTANTINE CAVAMANLIS INC BALANCE SHEETS Assets Dec. 31, 2004 Jn...
Complete a vertical and horizontal analysis for the balance sheet. Below is the summary operating statement...
Complete a vertical and horizontal analysis for the balance
sheet.
Below is the summary operating statement
20x1
20x2
Variance (Horizontal)
#/$
%
Rooms available:
300.00
300.00
0.00%
Rooms sold:
79,388.00
81,140.00
2.21%
Occupancy:
72.50%
74.10%
2.21%
ADR:
183.62
191.33
7.71
4.20%
Rooms RevPar:
133.12
141.78
8.66
6.51%
Total RevPar:
176.20
185.65
9.45
5.36%
Operating revenue
Rooms
14,577,225.00
75.55%
15,524,516.00
76.37%
947,291.00
6.50%
Food and...
Two Hollywood companies had the following balance sheet accounts as of December 31, 20X7 ($ in mi...
Two Hollywood companies had the following balance sheet accounts as of December 31, 20X7 ($ in millions): Lexia Hudson Lexia Hudson Cash and receivables $60 $44 Current liabilities $100 $40 Inventories 240 6 Common stock 200 20 Plant assets, net 300 190 Retained earnings 300 180 Total assets $600 $240 Total liab. and stk. eq. $600 $240 Net income for 20X7 $38 $8 On January 4, 20X8, these entities combined. Lexia issued $360 million of its shares (at market value)...
Prepare a classified balance sheet for the partnership after the partners’ investments on December 31, 2022.
Prepare a classified balance sheet for the partnership after the partners’ investments on December 31, 2022. THE IVANHOE PARTNERSHIPBalance Sheetchoose the accounting period For the Quarter Ended December 31 , 2022December 31 , 2022For the Year Ended December 31 , 2022Assetsselect an opening name for subsection one ...
Balance sheet data for Novak Company on December 31, the end of two recent fiscal years,...
Balance sheet data for Novak Company on December 31, the end of two recent fiscal years, follows: Current assets Property, plant, and equipment Intangible assets Current liabilities Long-term liabilities Common stock Retained earnings Current Year $1,300,000 3,000,000 700,000 1,000,000 1,500,000 500,000 2,000,000 Previous Year $ 945,000 3,150,000 405,000 720,000 1,575,000 495,000 1,710,000 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders’ equity item as a percent of...
7. Jaden Iman is completing the year‐end comparative balance sheet for the Coolidge Hotel. The format...
7. Jaden Iman is completing the year‐end comparative balance sheet for the Coolidge Hotel. The format of the balance sheet is designed to compare the current year to the prior year and includes the amount of dollar and percentage change experienced by the operation. Much of the information for the balance sheet has been entered by Jaden but some is missing. Insert the missing information in the balance sheet. Then, answer the questions that follow. Coolidge Hotel Balance Sheet Current...
Use the following data to answer questions in this part: Balance sheet data Assets 20X7 20X6...
Use the following data to answer questions in this part: Balance sheet data Assets 20X7 20X6 Cash $2,900 $1,000 Accounts receivable 2,500 2,000 Inventory 7,400 8,000 Property, plant, equipment 9,200 9,000 Accumulated depreciation (2,900) (2,500) Total assets $19,100 $17,500 Liabilities and Equity Accounts payable $4,700 $4,500 Interest payable 1,500 1,000 Dividends payable 1,000 2,500 Long-term debt 4,350 3,700 Bank note 1,000 800 Common stock 3,300 3,000 Retained earnings 3,250 2,000 Total liabilities and equity $19,100 $17,500 Income statement for the...
NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) 2022 2021 Assets Current Assets $9,880...
NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) 2022 2021 Assets Current Assets $9,880 $8,810 Property, plant, and equipment (net) 1,940 1,830 Other assets 1,580 1,700 Total assets $13,400 $12,340 Liabilities and Stockholders' Equity Current Liabilities $3,300 $3,300 Long-term liabilities 1,350 1,290 Stockholders' equity 8,750 7,750 Total liabilities and stockholders' equity $13,400 $12,340 I MIUI15) 2022 2021 Increase (Decrease) Percentage Change from 2016 Assets Current Assets $9,880 $8,810 $ 1,070 12.1 % Property, plant, and equipment (net) 1,940...
2020 LLC Balance Sheet 31 Assets Debit Credit Current Assets Cash 5,130.00 Accounts Receivable 3,300.00 Total...
2020 LLC Balance Sheet 31 Assets Debit Credit Current Assets Cash 5,130.00 Accounts Receivable 3,300.00 Total Current Assets 8,430.00 Property, Plant & Equipment Equipment 12,400.00 Accumulated Depreciation (2,200.00) Total Plant, Property & Equipment 10,200.00 Total Assets 18,630.00 Liabilities Accounts Payable 700.00 Notes Payable- Short Term 3,070.00 Total Current Liabilities 3,770.00 Owner Equity Members Capital 14,860.00 Total Liability & Owners Equity 18,630.00 Question. From the balance sheet, calculate working Capital.Does the firm have sufficient working capital ?
please complete condensed balance sheet.
The Cougar Hotel Condensed Balance Sheet December 31, 20X7 and 20x8 20x1 20x2 Changes Assets Current Assets Cash Accounts Receivable Inventory Prepaids Total Current Assets 305,124 522,417 199,000 52,000 1,078,541 159,000 456,377 247,000 49,000 911,377 0.85% 2.45% 1.33% 0.26% 4.89% Investments 1,000,000 1,000,000 5.37% Property and Equipment Land Building Equipment Accumulated Depreciation Net Property and Equipment 1,618,000 18,328,000 5,896,022 (8,118,000) 17,724,022 1,618,000 18,328,000 6,755,640 (9,987,560) 16,714,080 8.69% 98.40% 36.279 -53.62% 89.74% Total Assets 19,802,563 18,625,457...
*. Selected data for Stick's Design are given as of December 31, 20x7 and 20x8. 20x8 20x7 Net Sales $35,000 $30,000 Cost of Goods Sold 20,000 18,000 3,000 2,800 900 Accounts Receivable 1,500 2,000 3,000 3,600 4,500 5,000 Net Income 1,000 Inventory Current Liabilities Required: Compute the following Current ratio for 20x8 Acid-test ratio for 20x8 Accounts receivable turnover for 20x8 Average collection period for 20x8 Inventory turnover for 20x8 CONSTANTINE CAVAMANLIS INC BALANCE SHEETS Assets Dec. 31, 2004 Jn...
Complete a vertical and horizontal analysis for the balance
sheet.
Below is the summary operating statement
20x1
20x2
Variance (Horizontal)
#/$
%
Rooms available:
300.00
300.00
0.00%
Rooms sold:
79,388.00
81,140.00
2.21%
Occupancy:
72.50%
74.10%
2.21%
ADR:
183.62
191.33
7.71
4.20%
Rooms RevPar:
133.12
141.78
8.66
6.51%
Total RevPar:
176.20
185.65
9.45
5.36%
Operating revenue
Rooms
14,577,225.00
75.55%
15,524,516.00
76.37%
947,291.00
6.50%
Food and...
NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) 2022 2021 Assets Current Assets $9,880 $8,810 Property, plant, and equipment (net) 1,940 1,830 Other assets 1,580 1,700 Total assets $13,400 $12,340 Liabilities and Stockholders' Equity Current Liabilities $3,300 $3,300 Long-term liabilities 1,350 1,290 Stockholders' equity 8,750 7,750 Total liabilities and stockholders' equity $13,400 $12,340 I MIUI15) 2022 2021 Increase (Decrease) Percentage Change from 2016 Assets Current Assets $9,880 $8,810 $ 1,070 12.1 % Property, plant, and equipment (net) 1,940...
Most questions answered within 3 hours.
-
Calculate the pH of each of the following solutions.
0.50 M HBr
3.1×10−4 M KOH
4.2×10−5...
asked 23 minutes ago -
For the year ended December 31, Depot Max’s cost of merchandise
sold was $85,600. Inventory at the...
asked 23 minutes ago -
Week 10 - Professional Memo Assignment
Professional Memo Assignment
Your mission for this week, should you...
asked 28 minutes ago -
Write a Python program that stores the data for each
player on the team, and it...
asked 38 minutes ago -
In
the last 3 months, mike never knows when he is going to get his
allowance...
asked 1 hour ago -
Is Ca(OH)2 a Bronsted base, Lewis base, or both? Why?
asked 52 minutes ago -
1A- Why don’t voters complain about U.S. tariffs on imported
sugar?
Because sugar is only a...
asked 1 hour ago -
Cash Payback Period
Primera Banco is evaluating two capital investment proposals for
a drive-up ATM kiosk,...
asked 59 minutes ago -
Create a button in Swift (Xcode) that will create a charge,
create a charge using Stripe's...
asked 59 minutes ago -
The reaction rate of CO and NO2 in the reaction
CO(g) + NO2(g) → CO2(g) +...
asked 1 hour ago -
Imagine that a chemist puts 6.40 mol each of
C3H8 and O2 in a 1.00-L container...
asked 1 hour ago -
How much money should be invested today in order to have $8340
at the end of...
asked 1 hour ago