Homework Answers
| 13 | |
| Interest revenue for 2018 | 40500 |
| Add: Accrued Interest Receivable,Dec. 31,2017 | 9200 |
| Less: Accrued Interest Receivable,Dec. 31,2018 | -10400 |
| Cash received as Interest revenue | 39300 |
| Option A $39,300 is correct | |
| 14 | |
| Inventories | 50000 |
| Cash | 250000 |
| Total Current Assets | 300000 |
| Total Current Liabilities (Accounts Payable) | 150000 |
| Total Current Assets | 300000 |
| Less: Total Current Liabilities | 150000 |
| Working Capital | 150000 |
| Option C $150,000 is correct |
Add Answer to:
M cmo MGT120 2020-02-02 Use the following information to answer questions 13-15 inclusive. The income statement...
Hi there, can you please answer questions 13-18. they are all very short questions :) Also,...
Hi there, can you please answer questions 13-18. they are all
very short questions :) Also, the circled answer may or may not be
correct and please disregard the blue scribble marks
Use the following information to answer questions 13 - 15 inclusive. The income statement of Delaney Company for the year 2018 included the following items: Interest revenue Salaries expense Insurance expense $40,500 73,200 4,400 The following balances have been taken from Delaney Company's balance sheet: Dec. 31/2018 $10,400...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (4) QUESTIONS: The Income Statement of Desert Corporation...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (4) QUESTIONS: The Income Statement of Desert Corporation for 2019 included Interest Revenue for $156,000. The Cash Ledger for the company for 2018 showed $199,500 cash paid for salaries, $18,600 cash paid for insurance, and $433,200 cash paid for inventory. The following balances have been excerpted from Desert Corporation's balance sheet: December 31, 2018 December 31, 2019 Interest Receivable $18,200 $9,000 Salaries & Wages Payable $17,800 $ 25,400 Prepaid Insurance $ 1,200...
See the following financial information (Income Statement and balance Sheet) for Thornton Company for the years...
See the following financial information (Income Statement and
balance Sheet) for Thornton Company for the years ending December
31, 1998 and 1999.
What is the Net Plant & Equipment in 1998
and 1999?
Calculate the Cash balance in 1998 and
1999?
What is firm’s Net Income in 1998 and
1999?
What is the Quick ratio in 1998 and 1999?
What is the ROE in 1998 and 1999?
What is the EPS (Earnings Per Share) in 1998
and 1999?
1998 1999...
Pr. 3) Use this information to answer the following questions: The trial balance of Rollins Inc....
Pr. 3) Use this information to answer the following questions: The trial balance of Rollins Inc. included the following accounts as of December 31, 2018: Debits Credits 5,900,000 40,000 10,000 150,000 Sales revenue Interest revenue Loss on sale of investments Unrealized holding losses on investments Foreign currency translation adjustment Cost of goods sold Selling expenses Restructuring costs nterest expense General and administrative expenses 260,000 4,400,000 400,000 180.000 20,000 300,000 ollins had 100,000 shares of stock outstanding throughout the year. Income...
The following information is related to Mitchell Company's fiscal year 2018. Income Statement: &n
The following information is related to Mitchell Company's fiscal year 2018. Income Statement: Net Income $300,000 Depreciation Expense 30,000 Loss on Sale of Plant Assets 10,000 Interest Expense 500 Balance Sheet - 12/31/18: Accounts Payable Increase 4,000 Accounts Receivable Increase 5,000 Plant Assets - Purchased 200,000 Plant Assets – Proceeds from sale 100,000 Additional Information: Cash Balance - 12/31/2017: $50,000 Common Stock exchanged for outstanding Long-Term Notes Payable of $150,000 Dividends paid were $30,000 Use this information to...
I need help with 34-39 Use the following to answer questions 34 - 36 The year-end...
I need help with 34-39
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense Rent expense Interest expense Dividends $300,000 450,000 250,000 20,000 5,000 75,000 Prepare the closing entries. 34. $_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. $ In preparing the closing entries for the temporary accounts, how much should...
s. Use the following income statement and information about selected current assets and current liab calculate...
s. Use the following income statement and information about selected current assets and current liab calculate the net cash provided or used by operating activities using the indirect method. Use the tempo the next page. Hint: Add back loss on sale of land. Check: Net cash provided by operating activities should be and current liabilities to number greater than $38,000 but less than $41,000. (5 points) National L Inc. Income Statement For Year Ended December 31, 2018 $180.000 Cost of...
How would I do direct and indirect cashflow and what would the income statement look at...
How would I do direct and indirect cashflow and what would the income statement look at 31st Nov The company is a merchandiser, i.e. it purchases inventory at wholesale and sells it at retail. As of the 1st of November the company’s balance sheet was as shown next: Balance Sheet as of November 1 ASSETS LIABILITIES AND EQUITY Cash $100,000 Accounts payable $300,000 Bank CD 250,000 Shareholder loan payable 200,000 Accounts receivable 550,000 Salaries payable 40,000 Inventory 700,000 Common stock...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (6) QUESTIONS: The following is a December 31,...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (6) QUESTIONS: The following is a December 31, 2018, post-closing trial balance for Desert Company: Account Title Debits Credits Cash $ 83,000 Accounts Receivable (net of Allowance) $256,000 Prepaid Expenses $ 32,000 Investments $ 65,000 Land $175,000 Buildings (net) $160,000 Equipment (net) $145,000 Accounts Payable $ 73,000 Accrued Expenses $ 45,000 Unearned Revenue $150,000 Notes Payable $300,000 Common Stock $200,000 Retained Earnings $148,000 TOTALS $916,000 $916,000 Additional Information: 1. The cash account...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (6) QUESTIONS: The following is a December 31,...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (6) QUESTIONS: The following is a December 31, 2019, post-closing trial balance for Desert Company: Account Title Debits Credits Cash $ 83,000 Accounts Receivable (net of Allowance) $280,000 Prepaid Expenses $ 32,000 Investments $ 65,000 Land $175,000 Buildings (net) $160,000 Equipment (net) $145,000 Accounts Payable $ 73,000 Accrued Expenses $ 45,000 Unearned Revenue $150,000 Notes Payable $300,000 Common Stock $200,000 Retained Earnings $172,000 TOTALS $940,000 $940,000 Additional Information: 1. The cash account...
Hi there, can you please answer questions 13-18. they are all
very short questions :) Also, the circled answer may or may not be
correct and please disregard the blue scribble marks
Use the following information to answer questions 13 - 15 inclusive. The income statement of Delaney Company for the year 2018 included the following items: Interest revenue Salaries expense Insurance expense $40,500 73,200 4,400 The following balances have been taken from Delaney Company's balance sheet: Dec. 31/2018 $10,400...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (4) QUESTIONS: The Income Statement of Desert Corporation for 2019 included Interest Revenue for $156,000. The Cash Ledger for the company for 2018 showed $199,500 cash paid for salaries, $18,600 cash paid for insurance, and $433,200 cash paid for inventory. The following balances have been excerpted from Desert Corporation's balance sheet: December 31, 2018 December 31, 2019 Interest Receivable $18,200 $9,000 Salaries & Wages Payable $17,800 $ 25,400 Prepaid Insurance $ 1,200...
See the following financial information (Income Statement and
balance Sheet) for Thornton Company for the years ending December
31, 1998 and 1999.
What is the Net Plant & Equipment in 1998
and 1999?
Calculate the Cash balance in 1998 and
1999?
What is firm’s Net Income in 1998 and
1999?
What is the Quick ratio in 1998 and 1999?
What is the ROE in 1998 and 1999?
What is the EPS (Earnings Per Share) in 1998
and 1999?
1998 1999...
Pr. 3) Use this information to answer the following questions: The trial balance of Rollins Inc. included the following accounts as of December 31, 2018: Debits Credits 5,900,000 40,000 10,000 150,000 Sales revenue Interest revenue Loss on sale of investments Unrealized holding losses on investments Foreign currency translation adjustment Cost of goods sold Selling expenses Restructuring costs nterest expense General and administrative expenses 260,000 4,400,000 400,000 180.000 20,000 300,000 ollins had 100,000 shares of stock outstanding throughout the year. Income...
I need help with 34-39
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense Rent expense Interest expense Dividends $300,000 450,000 250,000 20,000 5,000 75,000 Prepare the closing entries. 34. $_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. $ In preparing the closing entries for the temporary accounts, how much should...
s. Use the following income statement and information about selected current assets and current liab calculate the net cash provided or used by operating activities using the indirect method. Use the tempo the next page. Hint: Add back loss on sale of land. Check: Net cash provided by operating activities should be and current liabilities to number greater than $38,000 but less than $41,000. (5 points) National L Inc. Income Statement For Year Ended December 31, 2018 $180.000 Cost of...
Most questions answered within 3 hours.
-
Calculate the number density of argon gas at a temperature of
24C and a pressure of...
asked 1 hour ago -
Alternative
Classification
How to Estimate
Probabilities from Data? ( For continuous Attributes)
And How to generate...
asked 1 hour ago -
An explosion breaks a 20.0-kg object into three parts. The
object is initially moving at a...
asked 2 hours ago -
Calculate the approximate number of residues of Rubisco, which
is involved in carbon fixation in plants,...
asked 3 hours ago -
Other decisions about scientific claims can have a much broader
impact.ENERGYarrow-10x10.png, environment, health, security - all...
asked 4 hours ago -
I need to write a research paper and work cited about this
topic: The United States...
asked 5 hours ago -
Hello! I was wondering if I could have some help?
If the vapor pressure of carvone...
asked 5 hours ago -
An economist wants to estimate the mean per capita income (in
thousands of dollars) for a...
asked 5 hours ago -
What would be the input/output characteristic of a circuit
obtained by putting two of your 2's-complementers...
asked 5 hours ago -
In Drosophila, the transition from the syncytial blastoderm
stage to the cellular blastoderm stage is a...
asked 6 hours ago -
Project management question:
Name 3 different types of resources (hint: humans are one
type)
asked 6 hours ago -
Consider the following reaction: C 2H 2( g) + 2H 2( g) C 2H 6(
g)...
asked 6 hours ago