Homework Answers
Total stockholders equity = Total assets - total liabilities
= 1100000-550000 = $550000
Debt to assets ratio = Total liabilities / Total assets
= 550000/1100000
= 50%
Time interest earned ratio = income before interest and taxes / interest expense
= (157500+136500+20000)/20000
= 15.7 times
Add Answer to:
Wildhorse Corporation reports the following amounts in its 2020 financial statements: At December 31, 2020 For...
The following financial information is for Cullumber Company Cullumber Company Balance Sheets December 31 2020 2019...
The following financial information is for Cullumber Company Cullumber Company Balance Sheets December 31 2020 2019 ASsels $ 70,000 $ 64,000 Cash Debt investments (short-term) 39,000 53,000 90,000 Accounts receivable 108,000 162,000 229,000 Inventory Prepaid expenses 25,000 30,000 130,000 Land 130,000 185,000 264,000 Building and equipment (net) $884,000 $695,000 Total assets Liabilities and Stockholders' Equity $172,000 $102,000 Notes payable 65,000 51,000 Accounts payable 41,000 41,000 Accrued liabilities 250,000 172,000 Bonds payable, due 2023 202,000 Common stock, $10 par 202,000 127,000...
The comparative statements of Crane Company are presented here: Crane Company Income Statements For the Years...
The comparative statements of Crane Company are presented here: Crane Company Income Statements For the Years Ended December 31 2020 Net sales $1,898,740 Cost of goods sold 1,066,740 Gross profit 832,000 Selling and administrative expenses 508,200 Income from operations 323,800 Other expenses and losses Interest expense 23,700 Income before income taxes 300,100 Income tax expense 93,700 Net income $206,400 2019 $1,758,700 1,014,200 744,500 487,200 257,300 21,700 235,600 74,700 $160,900 Crane Company Balance Sheets December 31 Assets 2020 2019 Current assets...
The following information is taken from the 2020 annual report of Wildhorse, Inc. Wildhorse’s fiscal year...
The following information is
taken from the 2020 annual report of Wildhorse, Inc. Wildhorse’s
fiscal year ends December 31 of each year. Wildhorse’s December 31,
2020, balance sheet is as follows.
Wildhorse,
Inc.
Balance Sheet
December 31, 2020
Assets
Cash
$420
Inventory
1,770
Total current assets
2,190
Plant and equipment
1,800
Accumulated depreciation
(144)
Total assets
3,846
Liabilities
Bonds payable (net of
discount)
$1,426
Stockholders’
equity
Common stock
1,500
Retained earnings
920
Total liabilities and
stockholders’ equity
$3,846
Note X:...
The condensed financial statements of Murawski Company for the years 2019 and 2020 are presented follows....
The condensed financial statements of Murawski Company for the years 2019 and 2020 are presented follows. (Amounts in thousands MURAWSKI COMPANY Balance Sheets December 31 2020 2019 $ 352 $ 354 360 1.268 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity $2.203 $ 804 $ 912 360 1.070 1.041 $2.205 $2364...
ignment CALCULATOR FULL SCREE Exercise 5-8 In its income statement for the year ended December 31,...
ignment CALCULATOR FULL SCREE Exercise 5-8 In its income statement for the year ended December 31, 2017, Blossom Company reported the following condensed data. $ 179,525 Salaries and wages expenses Cost of goods sold Interest expense Interest revenue Depreciation expense $999,750 2,122,050 152,650 139,750 666,500 Loss on disposal of plant assets Sales revenue Income tax expense Sales discounts Utilities expense 4,751,500 53,750 344,000 236,500 Prepare a multiple-step income statement. (List other revenues before other expenses.) BLOSSOM COMPANY Income Statement For...
The following are financial statements of Wildhorse Co.. Wildhorse Co. Income Statement For the Year Ended...
The following are financial statements of Wildhorse Co.. Wildhorse Co. Income Statement For the Year Ended December 31, 2022 Net sales $2,239,000 Cost of goods sold 1.015.000 Selling and administrative expenses 910,000 75,000 Interest expense Income tax expense 73,000 $ 166,000 Net income Wildhorse Co. Balance Sheet December 31, 2022 Assets Current assets Cash $ 56,200 Debt investments 87,000 Accounts receivable (net) 168,300 Inventory 161,350 Total current assets 472,850 Plant assets (net) 572,000 $ 1,044,850 Total assets Liabilities and Stockholders'...
Marigold Company provides you with the following balance sheet information as of December 31, 2020. $10,700...
Marigold Company provides you with the following balance sheet information as of December 31, 2020. $10,700 Current liabilities $13,750 Current assets Long-term assets 25,650 Long-term liabilities 8,850 Stockholders' equity 13,750 Total assets $36,350 Total liabilities and stockholders' equity $36,350 In addition, Marigold reported net income for 2020 of $15,650, income tax expense of $3,200, and interest expense of $1,150. (Round ratios to 2 decimal places, eg. 2.75:1. Enter negative amounts using either a negative sign preceding the number e.g. -45...
Exercise 18-13 The condensed financial statements of Ness Company for the years 2019 and 2020 are...
Exercise 18-13 The condensed financial statements of Ness Company for the years 2019 and 2020 are presented below. Ness Company Balance Sheets December 31 (in thousands) 2020 2019 Current assets Cash and cash equivalents $300 $320 Accounts receivable (net) 450 430 Inventory 490 360 Prepaid expenses 120 150 Total current assets 1,360 1,260 Property, plant, and equipment (net) 370 360 Investments 1 10 Intangibles and other assets 580 560 Total assets $2,311 $2,190 Current liabilities $750 $870 Long-term liabilities 521...
The condensed financial statements of Blossom Company for the years 2019 and 2020 are presented as...
The condensed financial statements of Blossom Company for the years 2019 and 2020 are presented as follows. (Amounts in thousands.) BLOSSOM COMPANY Balance Sheets December 31 2020 2019 $330 $360 670 600 500 430 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments Property, plant, and equipment Intangibles and other assets 120 160 1,620 210 420 530 1,550 210 380 510 Total assets $2,780 $2,650 $990 Current liabilities Long-term liabilities Stockholders' equity-common $1,100...
The condensed financial statements of Murawski Company for the years 2019 and 2020 are presented follows....
The condensed financial statements of Murawski Company for the years 2019 and 2020 are presented follows. (Amounts in thousands.) MURAWSKI COMPANY Balance Sheets December 31 2020 2019 $ 367 472 472 122 1,433 15 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity $ 378 382 400 160 1,320 14 350 480...
The following financial information is for Cullumber Company Cullumber Company Balance Sheets December 31 2020 2019 ASsels $ 70,000 $ 64,000 Cash Debt investments (short-term) 39,000 53,000 90,000 Accounts receivable 108,000 162,000 229,000 Inventory Prepaid expenses 25,000 30,000 130,000 Land 130,000 185,000 264,000 Building and equipment (net) $884,000 $695,000 Total assets Liabilities and Stockholders' Equity $172,000 $102,000 Notes payable 65,000 51,000 Accounts payable 41,000 41,000 Accrued liabilities 250,000 172,000 Bonds payable, due 2023 202,000 Common stock, $10 par 202,000 127,000...
The comparative statements of Crane Company are presented here: Crane Company Income Statements For the Years Ended December 31 2020 Net sales $1,898,740 Cost of goods sold 1,066,740 Gross profit 832,000 Selling and administrative expenses 508,200 Income from operations 323,800 Other expenses and losses Interest expense 23,700 Income before income taxes 300,100 Income tax expense 93,700 Net income $206,400 2019 $1,758,700 1,014,200 744,500 487,200 257,300 21,700 235,600 74,700 $160,900 Crane Company Balance Sheets December 31 Assets 2020 2019 Current assets...
The following information is
taken from the 2020 annual report of Wildhorse, Inc. Wildhorse’s
fiscal year ends December 31 of each year. Wildhorse’s December 31,
2020, balance sheet is as follows.
Wildhorse,
Inc.
Balance Sheet
December 31, 2020
Assets
Cash
$420
Inventory
1,770
Total current assets
2,190
Plant and equipment
1,800
Accumulated depreciation
(144)
Total assets
3,846
Liabilities
Bonds payable (net of
discount)
$1,426
Stockholders’
equity
Common stock
1,500
Retained earnings
920
Total liabilities and
stockholders’ equity
$3,846
Note X:...
The condensed financial statements of Murawski Company for the years 2019 and 2020 are presented follows. (Amounts in thousands MURAWSKI COMPANY Balance Sheets December 31 2020 2019 $ 352 $ 354 360 1.268 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity $2.203 $ 804 $ 912 360 1.070 1.041 $2.205 $2364...
ignment CALCULATOR FULL SCREE Exercise 5-8 In its income statement for the year ended December 31, 2017, Blossom Company reported the following condensed data. $ 179,525 Salaries and wages expenses Cost of goods sold Interest expense Interest revenue Depreciation expense $999,750 2,122,050 152,650 139,750 666,500 Loss on disposal of plant assets Sales revenue Income tax expense Sales discounts Utilities expense 4,751,500 53,750 344,000 236,500 Prepare a multiple-step income statement. (List other revenues before other expenses.) BLOSSOM COMPANY Income Statement For...
The following are financial statements of Wildhorse Co.. Wildhorse Co. Income Statement For the Year Ended December 31, 2022 Net sales $2,239,000 Cost of goods sold 1.015.000 Selling and administrative expenses 910,000 75,000 Interest expense Income tax expense 73,000 $ 166,000 Net income Wildhorse Co. Balance Sheet December 31, 2022 Assets Current assets Cash $ 56,200 Debt investments 87,000 Accounts receivable (net) 168,300 Inventory 161,350 Total current assets 472,850 Plant assets (net) 572,000 $ 1,044,850 Total assets Liabilities and Stockholders'...
Marigold Company provides you with the following balance sheet information as of December 31, 2020. $10,700 Current liabilities $13,750 Current assets Long-term assets 25,650 Long-term liabilities 8,850 Stockholders' equity 13,750 Total assets $36,350 Total liabilities and stockholders' equity $36,350 In addition, Marigold reported net income for 2020 of $15,650, income tax expense of $3,200, and interest expense of $1,150. (Round ratios to 2 decimal places, eg. 2.75:1. Enter negative amounts using either a negative sign preceding the number e.g. -45...
Exercise 18-13 The condensed financial statements of Ness Company for the years 2019 and 2020 are presented below. Ness Company Balance Sheets December 31 (in thousands) 2020 2019 Current assets Cash and cash equivalents $300 $320 Accounts receivable (net) 450 430 Inventory 490 360 Prepaid expenses 120 150 Total current assets 1,360 1,260 Property, plant, and equipment (net) 370 360 Investments 1 10 Intangibles and other assets 580 560 Total assets $2,311 $2,190 Current liabilities $750 $870 Long-term liabilities 521...
The condensed financial statements of Blossom Company for the years 2019 and 2020 are presented as follows. (Amounts in thousands.) BLOSSOM COMPANY Balance Sheets December 31 2020 2019 $330 $360 670 600 500 430 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments Property, plant, and equipment Intangibles and other assets 120 160 1,620 210 420 530 1,550 210 380 510 Total assets $2,780 $2,650 $990 Current liabilities Long-term liabilities Stockholders' equity-common $1,100...
The condensed financial statements of Murawski Company for the years 2019 and 2020 are presented follows. (Amounts in thousands.) MURAWSKI COMPANY Balance Sheets December 31 2020 2019 $ 367 472 472 122 1,433 15 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity $ 378 382 400 160 1,320 14 350 480...
Most questions answered within 3 hours.
-
what is IoT? How is it being used today? How will it be used in
the...
asked 13 minutes ago -
Please answer the four questions below.
1. If you were going to test a method that...
asked 27 minutes ago -
Provide two or three examples of support he uses to reinforce
his arguments?
The Alienation of...
asked 35 minutes ago -
QUESTION 1
Why do we see terms with multiple names in the database
community?
Consistency is...
asked 30 minutes ago -
In a titration experiment, 11.5 mL of 0.400 M H2SO4 neutralized
48.0 mL of NaOH. What...
asked 34 minutes ago -
A shot-putter throws the shot with a horizontal velocity of 10
m/s and a
vertical velocity...
asked 50 minutes ago -
Mildred sells industrial-sized refrigeration units. Her
prospective buyer's face looks tense, and his forehead is wrinkled....
asked 51 minutes ago -
Clark Heter is an industrial engineer at Lyons Products. He
would like to determine whether there...
asked 1 hour ago -
3. Use a text editor to create a comma-delimited file of user
IDs and passwords. Revise...
asked 1 hour ago -
Jensen and Associates has a projected balance
sheet that includes the following accounts. What is the...
asked 1 hour ago -
implement a doubly-linked list in C. Each node in the linked list should contain a string,...
asked 1 hour ago -
What are some best practices and things to avoid when developing
a PowerPoint presentation or file
asked 1 hour ago