Homework Answers
Answer:- Cost of asset = $ 50,00,000, Salvage Value = $5,00,000,
Life = 15 years
Depreciation =(5000000-500000)/15 = 45,00,000/15 = $3,00,000.
Book value after 3 years = 50,00,000 - 3*300,000=
$41,00,000.
Answer:- Each $1 dollar asset creates $1.64 worth of sales revenue.
Answer:- Andrew Companies total assets = Capital + Retained earnings + common stock = $42.642 millions.
Answer:- Equity would increase. Because by issuing shares equity of country increases.
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The Andrews Company has just purchased $50,000,000 of plant and equipment that has an estimated useful...
The Andrews Company has just purchased $47,740,000 of plant and equipment that has an estimated useful...
The Andrews Company has just purchased $47,740,000 of plant and equipment that has an estimated useful life of 15 years. Suppose at the end of 15 years this plant and equipment can be salvaged for $4,774,000 (1/10th of its original cost). What will be the book value of this purchase (excluding all other Plant and Equipment) after its first year of use? Use generally accepted (FASB) accounting principles.
Which company has the least efficient SG&A/Sales ratio? Select: 1 Digby Andrews Chester Baldwin Round: 4...
Which company has the least efficient SG&A/Sales
ratio?
Select: 1
Digby
Andrews
Chester
Baldwin
Round: 4 December 31, 2022 Financial Summary katharine maisak NOUTRER Cash Flow Statement Survey Cash flows from operating activities Andrews Adjustment for non-cash items: S15,487 Changes in current assets and liabilities: $109,608 Net cash from operations Cash flows from investing activities Plant improvements (net) Cash flows from financing activities Cash from long term debt issued Early retirement of long term debt Retirement of current debt Cash...
Which company has the least amount of free cash flow? Group of answer choices Andrews Ferris...
Which company has the least amount of free cash flow?
Group of answer choices
Andrews
Ferris
Digby
Baldwin
Erie
Chester
CAPSTONE COURIER Andrews Baldwin Chester Round 5, 12/31/2016 Erie Ferris Digby $4.189 $4,280 $5,016 $31,654 ($3,572) $1,905 $7,787 $7,587 $0 $11,827 ($508) $7,207 $317 $12,907 $0 $0 $5,220 $0 $3,583 ($8,617) ($307) $6,434 ($4,582) $17.403 $1,475 $29,895 $3,746 $3,585 ($3,662) $16.208 $1,308 $12,792 ($2,797) $20.996 $2,175 ($3,473) ($3,426) $39,836 (5582) ($307) $818 $1,577 $2,210 ($15,885) ($6,600) ($19,360) ($3,900) ($4,000) $0...
Which company has the least efficient SG&A/Sales ratio? Select: 1 Digby Andrews Chester Baldwin Round: 4 December 31, 2022 Financial Summary katharine maisak NOUTRER Ca...
Which company has the least efficient SG&A/Sales
ratio?
Select: 1
Digby
Andrews
Chester
Baldwin
Round: 4 December 31, 2022 Financial Summary katharine maisak NOUTRER Cash Flow Statement Survey Cash flows from operating activities Andrews Adjustment for non-cash items: S15,487 Changes in current assets and liabilities: $109,608 Net cash from operations Cash flows from investing activities Plant improvements (net) Cash flows from financing activities Cash from long term debt issued Early retirement of long term debt Retirement of current debt Cash...
Points: 10©2006 Capsim Management Simulations, Inc.® Currently Attic is charged $4,382,667 Depreciation on the Income Statement of Andrews. Andrews is planning for an increase in this depreciati...
Points: 10©2006 Capsim Management Simulations, Inc.®
Currently Attic is charged $4,382,667 Depreciation on the
Income Statement of Andrews. Andrews is planning
for an increase in this depreciation. On the financial statements
of Andrews will this?
Select: 1
Decrease Net Cash from Operations on the Cash Flow
Statement.
Have no impact on the Net Cash from Operations as depreciation
appears in both Cash Flow and the Income Statement.
Just impact the Balance Sheet.
Increase Net Cash from Operations on the Cash...
Problem 4-33 Clyde’s Well Servicing has the following financial statements. The balance sheet items, profit margin,...
Problem 4-33 Clyde’s Well Servicing has the following financial statements. The balance sheet items, profit margin, and dividend payout have maintained the same relationships the past couple of years; these relationships are anticipated to hold in the future. Clyde’s has excess capacity, so there is no expected increase in capital assets. Income Statement Sales $2,000,000 Cost of goods sold 1,260,000 Gross profit 740,000 Selling and administrative expense 400,000 Amortization 55,000 Earnings before interest and taxes 285,000 Interest 50,000 Earnings before...
Exercise 9-08 On July 1, 2019, Cullumber Company purchased new equipment for $85,000. Its estimated useful l...
Exercise 9-08
On July 1, 2019, Cullumber Company purchased new equipment for
$85,000. Its estimated useful life was 5 years with a $12,000
salvage value. On December 31, 2022, the company estimated that the
equipment’s remaining useful life was 10 years, with a revised
salvage value of $5,000.
Prepare the journal entry to record depreciation on December
31, 2019. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no
entry is required, select "No...
QUESTIONS Equipment purchased at the beginning of the year for $200,000 with a residual value of...
QUESTIONS Equipment purchased at the beginning of the year for $200,000 with a residual value of $20,000 is being depreciated over a 5-year period using the double-declining- balance method. Which of the following statements is correct concerning the financial statements at the end of the year? 1. The book value of the equipment is now $80,000. 2. The equipment account now has a balance of $120.000 3. Depreciation expense for the year is $72,000. 4. The accumulated depreciation account balance...
34. Assume that Pappas Company commenced operations on January 1, 2007, and it was granted permission...
34. Assume that Pappas Company commenced operations on January 1, 2007, and it was granted permission to use the same depreciation calculations for shareholder reporting and income tax purposes. The company planned to depreciate its fixed assets over 15 years, but in December 2007 management realized that the assets would last for only 10 years. The firm's accountants plan to report the 2007 financial statements based on this new information. How would the new depreciation assumption statements? a. b. affect...
Background You are an Analyst for the professional service firm, BUSI 1043 LLP. Your firm specializes...
Background
You are an Analyst for the professional service firm, BUSI 1043
LLP. Your firm specializes in providing a wide variety of internal
business solutions for different clients. After 4 months on the
job, you walk into the partner’s office to provide him with your
two week notice. Given your excellent performance over the past few
months, rival professional service firm, BUSI 2083 LLP has provided
you with an offer you cannot refuse by providing you with a
promotion to...
Which company has the least efficient SG&A/Sales
ratio?
Select: 1
Digby
Andrews
Chester
Baldwin
Round: 4 December 31, 2022 Financial Summary katharine maisak NOUTRER Cash Flow Statement Survey Cash flows from operating activities Andrews Adjustment for non-cash items: S15,487 Changes in current assets and liabilities: $109,608 Net cash from operations Cash flows from investing activities Plant improvements (net) Cash flows from financing activities Cash from long term debt issued Early retirement of long term debt Retirement of current debt Cash...
Which company has the least amount of free cash flow?
Group of answer choices
Andrews
Ferris
Digby
Baldwin
Erie
Chester
CAPSTONE COURIER Andrews Baldwin Chester Round 5, 12/31/2016 Erie Ferris Digby $4.189 $4,280 $5,016 $31,654 ($3,572) $1,905 $7,787 $7,587 $0 $11,827 ($508) $7,207 $317 $12,907 $0 $0 $5,220 $0 $3,583 ($8,617) ($307) $6,434 ($4,582) $17.403 $1,475 $29,895 $3,746 $3,585 ($3,662) $16.208 $1,308 $12,792 ($2,797) $20.996 $2,175 ($3,473) ($3,426) $39,836 (5582) ($307) $818 $1,577 $2,210 ($15,885) ($6,600) ($19,360) ($3,900) ($4,000) $0...
Which company has the least efficient SG&A/Sales
ratio?
Select: 1
Digby
Andrews
Chester
Baldwin
Round: 4 December 31, 2022 Financial Summary katharine maisak NOUTRER Cash Flow Statement Survey Cash flows from operating activities Andrews Adjustment for non-cash items: S15,487 Changes in current assets and liabilities: $109,608 Net cash from operations Cash flows from investing activities Plant improvements (net) Cash flows from financing activities Cash from long term debt issued Early retirement of long term debt Retirement of current debt Cash...
Points: 10©2006 Capsim Management Simulations, Inc.®
Currently Attic is charged $4,382,667 Depreciation on the
Income Statement of Andrews. Andrews is planning
for an increase in this depreciation. On the financial statements
of Andrews will this?
Select: 1
Decrease Net Cash from Operations on the Cash Flow
Statement.
Have no impact on the Net Cash from Operations as depreciation
appears in both Cash Flow and the Income Statement.
Just impact the Balance Sheet.
Increase Net Cash from Operations on the Cash...
Exercise 9-08
On July 1, 2019, Cullumber Company purchased new equipment for
$85,000. Its estimated useful life was 5 years with a $12,000
salvage value. On December 31, 2022, the company estimated that the
equipment’s remaining useful life was 10 years, with a revised
salvage value of $5,000.
Prepare the journal entry to record depreciation on December
31, 2019. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no
entry is required, select "No...
QUESTIONS Equipment purchased at the beginning of the year for $200,000 with a residual value of $20,000 is being depreciated over a 5-year period using the double-declining- balance method. Which of the following statements is correct concerning the financial statements at the end of the year? 1. The book value of the equipment is now $80,000. 2. The equipment account now has a balance of $120.000 3. Depreciation expense for the year is $72,000. 4. The accumulated depreciation account balance...
34. Assume that Pappas Company commenced operations on January 1, 2007, and it was granted permission to use the same depreciation calculations for shareholder reporting and income tax purposes. The company planned to depreciate its fixed assets over 15 years, but in December 2007 management realized that the assets would last for only 10 years. The firm's accountants plan to report the 2007 financial statements based on this new information. How would the new depreciation assumption statements? a. b. affect...
Background
You are an Analyst for the professional service firm, BUSI 1043
LLP. Your firm specializes in providing a wide variety of internal
business solutions for different clients. After 4 months on the
job, you walk into the partner’s office to provide him with your
two week notice. Given your excellent performance over the past few
months, rival professional service firm, BUSI 2083 LLP has provided
you with an offer you cannot refuse by providing you with a
promotion to...
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