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Part II: The following balance sheet (statement of financial position) is presented...
Part I: You, the accountant, are analyzing Nolans Corporation. Nolans corp. has expanded its production facilities...
Part I: You, the accountant, are analyzing Nolans Corporation. Nolans corp. has expanded its production facilities by 200% since 2016. The income statements for the last three year are below: Nolan Security Corporation Statement of Financial Position At December 31, 2020 Assets Liabilities Current Current Cash $100 Accounts Payable $300 Accounts Receivable 200 Wages Payable 50 Merchandise Inventory 500 Dividends Payable 50 Prepared Expenses 50 400 850 Non-current Non-current Property, plant & equipment (net) 1,000 Loan Payable 800 1,200...
Part II: The following balance sheet (statement of financial position) is presented for Cyber Security Corporation....
Part II: The following balance sheet (statement of financial position) is presented for Cyber Security Corporation. Cyber Security Corporation Statement of Financial Position At December 31, 2020 Liabilities Current $100 Accounts Payable 200 Wages Payable 500 Dividends Payable Assets Current Cash Accounts Receivable Merchandise Inventory Prepared Expenses $300 50 400 850 Non-current Property, plant & equipment (net) Non-current Loan Payable 1,000 800 1,200 Shareholders' Equity Common Shares Retained Eamings Total Shareholder's Equity 500 150 650 Total Assets $1,850 Total Liability...
Question 3 (25 marks) Unit 10 - Financial Statement Analysis Following is a comparative balance sheet...
Question 3 (25 marks) Unit 10 - Financial Statement Analysis Following is a comparative balance sheet for Summer Days Corporation: Summer Days Corporation Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Current assets: Cash $ 140,000 $ 90,000 Short-term investments 90,000 80,000 Accounts receivable, net 350,000 220,000 Inventory 500,000 430,000 Prepaid expenses 30,000 30,000 Total current assets $1,110,000 $ 850,000 Property, plant, and equipment, net 750,000 500,000 Other assets 280,000 300,000 Total assets ...
Current Attempt in Progress Use the ratios below and statement of financial position to fill in...
Current Attempt in Progress Use the ratios below and statement of financial position to fill in the missing information. (Round debt to total assets ratio to 1 place, e.g. 2.1%.) Novak Corporation had the following comparative statements of financial position: Novak Corporation Statement of Financial Position Dec. 31, 2022 Assets Dec. 31, 2021 Current assets Cash $74,000 $79,000 Trading investments 98,000 Accounts receivable Inventory Prepaid expenses 155,000 245,000 99,000 150,500 220,000 66,000 Total current assets 671,000 Property, plant, and equipment...
Unit 10 - Financial Statement Analysis Following is a comparative balance sheet for Summer Days Corporation:...
Unit 10 - Financial Statement Analysis Following is a comparative balance sheet for Summer Days Corporation: Summer Days Corporation Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Current assets: Cash $ 140,000 $ 90,000 Short-term investments 90,000 80,000 Accounts receivable, net 350,000 220,000 Inventory 500,000 430,000 Prepaid expenses 30,000 30,000 Total current assets $1,110,000 $ 850,000 Property, plant, and equipment, net 750,000 500,000 Other assets 280,000 300,000 Total assets $2,140,000 $1,650,000 Current liabilities:...
Unit 10 - Financial Statement Analysis Following is a comparative balance sheet for Summer Days Corporation:...
Unit 10 - Financial Statement Analysis Following is a comparative balance sheet for Summer Days Corporation: Summer Days Corporation Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Current assets: Cash $ 150,000 $ 90,000 Short-term investments 90,000 80,000 Accounts receivable, net 350,000 220,000 Inventory 400,000 430,000 Prepaid expenses 30,000 30,000 Total current assets $1,020,000 $ 850,000 Property, plant, and equipment, net 750,000 500,000 Other assets 280,000 300,000 Total assets $2,050,000 $1,650,000 Current liabilities: Short-term notes payable $650,000 $670,000...
Question 3 (25 marks) Unit 10 - Financial Statement Analysis Following is a comparative balance sheet...
Question 3 (25 marks) Unit 10 - Financial Statement Analysis Following is a comparative balance sheet for Summer Days Corporation: Summer Days Corporation Comparative Balance Sheet December 31, 2019 and 2018 20192018 Current assets: Cash$ 140,000$ 90,000 Short-term investments 90,00080,000 Accounts receivable, net350,000220,000 Inventory500,000130,000 Prepaid expenses 30.00030.000 Total current assets$1,110,000$ 850,000 Property, plant, and equipment, net750,000500,000 Other assets 280.000300.000 Total assets $2.140.000$1.650.000 Current liabilities: Short-term notes payable$650,000$670,000 Accounts payable200.000225.000 Total current liabilities$850,000$895,000 Non-current debt380.000220.000 Total liabilities$1.230.00051.115,000 Shareholders' equity: Common shares$500,000$500,000...
income statement statement of changes in equity statement of financial position These accounts and balances are...
income statement
statement of changes in equity
statement of financial position
These accounts and balances are taken from the financial statements of Sarasota Corporation for the year ended December 31, 2022 Retained earnings, January 1 Utilities expense Equipment Accounts payable Income tax payable Cash Salaries payable Common shares, January 1 Dividends declared Service revenue Prepaid insurance Repair and maintenance expense Depreciation expense Accounts receivable Insurance expense Salaries expense Income tax expense Accumulated depreciation-equipment $25,000 1,300 81,000 19,200 4.700 12,400 3,000...
Unit 10 - Financial Statement Analysis Following is a comparative balance sheet for Summer Days Corporation:...
Unit 10 - Financial Statement Analysis Following is a comparative balance sheet for Summer Days Corporation: Summer Days Corporation Comparative Balance Sheet December 31, 2019 and 2018 20192018 Current assets: Cash$ 140,000$ 90,000 Short-term investments90,00080,000 Accounts receivable, net350,000220,000 Inventory500,000430,000 Prepaid expenses30,00030 000 Total current assets$1,110,000$ 850,000 Property, plant, and equipment, net750,000500,000 Other assets280.000300,000 Total assets $2.140,000$1,650,000 Current liabilities: Short-term notes payable$650,000$670,000 Accounts payable200,000225,000 Total current liabilities $850,000$895,000 Non-current debt380,000220,000 Total liabilities$1,230,000$1,115,000 Shareholders' equity. Common shares $500,000$500,000 Retained earnings 10,00035,000 Total...
Part 1: Ratio Analysis calculate the following ratios Part 2: Perform a vertical analysis of statement...
Part 1: Ratio Analysis calculate the following ratios
Part 2: Perform a vertical analysis of statement of financial
position & Income statement
Part 3: Perform a Horizontal Analysis of statement of
Financial Position for 2015 and 2014 & Income statement for
2015
Instructions: 1. On pages three and four, you will find condensed statement of financial position and income statement data for Waterloo Corporation. 2. Use the same information to answer all the three parts. 3. Part 1: a. In...
Part II: The following balance sheet (statement of financial position) is presented for Cyber Security Corporation. Cyber Security Corporation Statement of Financial Position At December 31, 2020 Liabilities Current $100 Accounts Payable 200 Wages Payable 500 Dividends Payable Assets Current Cash Accounts Receivable Merchandise Inventory Prepared Expenses $300 50 400 850 Non-current Property, plant & equipment (net) Non-current Loan Payable 1,000 800 1,200 Shareholders' Equity Common Shares Retained Eamings Total Shareholder's Equity 500 150 650 Total Assets $1,850 Total Liability...
Current Attempt in Progress Use the ratios below and statement of financial position to fill in the missing information. (Round debt to total assets ratio to 1 place, e.g. 2.1%.) Novak Corporation had the following comparative statements of financial position: Novak Corporation Statement of Financial Position Dec. 31, 2022 Assets Dec. 31, 2021 Current assets Cash $74,000 $79,000 Trading investments 98,000 Accounts receivable Inventory Prepaid expenses 155,000 245,000 99,000 150,500 220,000 66,000 Total current assets 671,000 Property, plant, and equipment...
Question 3 (25 marks) Unit 10 - Financial Statement Analysis Following is a comparative balance sheet for Summer Days Corporation: Summer Days Corporation Comparative Balance Sheet December 31, 2019 and 2018 20192018 Current assets: Cash$ 140,000$ 90,000 Short-term investments 90,00080,000 Accounts receivable, net350,000220,000 Inventory500,000130,000 Prepaid expenses 30.00030.000 Total current assets$1,110,000$ 850,000 Property, plant, and equipment, net750,000500,000 Other assets 280.000300.000 Total assets $2.140.000$1.650.000 Current liabilities: Short-term notes payable$650,000$670,000 Accounts payable200.000225.000 Total current liabilities$850,000$895,000 Non-current debt380.000220.000 Total liabilities$1.230.00051.115,000 Shareholders' equity: Common shares$500,000$500,000...
income statement
statement of changes in equity
statement of financial position
These accounts and balances are taken from the financial statements of Sarasota Corporation for the year ended December 31, 2022 Retained earnings, January 1 Utilities expense Equipment Accounts payable Income tax payable Cash Salaries payable Common shares, January 1 Dividends declared Service revenue Prepaid insurance Repair and maintenance expense Depreciation expense Accounts receivable Insurance expense Salaries expense Income tax expense Accumulated depreciation-equipment $25,000 1,300 81,000 19,200 4.700 12,400 3,000...
Unit 10 - Financial Statement Analysis Following is a comparative balance sheet for Summer Days Corporation: Summer Days Corporation Comparative Balance Sheet December 31, 2019 and 2018 20192018 Current assets: Cash$ 140,000$ 90,000 Short-term investments90,00080,000 Accounts receivable, net350,000220,000 Inventory500,000430,000 Prepaid expenses30,00030 000 Total current assets$1,110,000$ 850,000 Property, plant, and equipment, net750,000500,000 Other assets280.000300,000 Total assets $2.140,000$1,650,000 Current liabilities: Short-term notes payable$650,000$670,000 Accounts payable200,000225,000 Total current liabilities $850,000$895,000 Non-current debt380,000220,000 Total liabilities$1,230,000$1,115,000 Shareholders' equity. Common shares $500,000$500,000 Retained earnings 10,00035,000 Total...
Part 1: Ratio Analysis calculate the following ratios
Part 2: Perform a vertical analysis of statement of financial
position & Income statement
Part 3: Perform a Horizontal Analysis of statement of
Financial Position for 2015 and 2014 & Income statement for
2015
Instructions: 1. On pages three and four, you will find condensed statement of financial position and income statement data for Waterloo Corporation. 2. Use the same information to answer all the three parts. 3. Part 1: a. In...
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