Homework Answers
Add Answer to:
Question 10 (101 Given the Balance sheet below please give your opinion about the risk and...
Balance Sheet, Jan 1, 2019 Current Assets Cost Current Liabilities Cost Cash 13,000 Accounts Payable 35,000...
Balance Sheet, Jan 1, 2019 Current Assets Cost Current Liabilities Cost Cash 13,000 Accounts Payable 35,000 Corn Grain Inventory 20,000 Interest Payable 11,850 Wheat Inventory 10,000 Principal Farm Mortgage 20,000 Prepaid expenses 5,500 Principal Beef Loan 10,000 Feed on hand 80,000 Operating Loan 75,000 Market Livestock 32,000 Property Taxes Payable 15,000 Accounts Receivable 2,000 Supplies 4,000 Total current assets 166,500 Total current liabilities 166,850 Intermediate Assets Intermediate Liabilities Machinery 300,000 Beef Loan 100,000 Beef Breeding Stock 55,000 Titled Vehicles 26,000...
Use the following tinancial statements: Dynamic Mattress Year-End Balance Sheet for 2014 (figures in $ millions)...
Use the following tinancial statements: Dynamic Mattress Year-End Balance Sheet for 2014 (figures in $ millions) Current Liabilities: Bank loans Current Assets Cash Marketable securities Accounts receivable Inventory 49 134 183 188 Accounts payable 137 142 467 Long-term debt Total current liabilities Total current assets 84 428 Net worth (equity and retained earnings) Fixed assets Gross investment Less depreciation Net fixed assets 332 104 228 695 Total assets Total liabilities and net worth 695 Dynamic Mattress Year-End Balance Sheet for...
Balance Sheet Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services...
Balance Sheet Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Assets Current assets: Cash $19,600 Accounts payable 33,300 Supplies 8,900 Prepaid insurance 15,900 Land 254,100 Total current assets $331,800 Property, plant, and equipment: Building $531,800 Equipment 120,300 Total property, plant, and equipment 864,800 Total assets $1,196,600 Liabilities Current liabilities: Accounts receivable $44,500 Accumulated depreciation-building 219,000 Accumulated depreciation-equipment 35,600 Net income 190,300 Total liabilities $489,400...
Balance Sheet: Use the following financial information to prepare a balance sheet: Burger Shack, Inc.; Balance...
Balance Sheet: Use the following financial information to prepare a balance sheet: Burger Shack, Inc.; Balance Sheet Inventory 335,000 Accounts Receivable Accounts Payable 40.000 Buildings Furniture and Fixtures 16,000 Trademark Mortgage 325,000 Note Payable (6 month) Equipment and Vehicles 40,000 Retained Earnings Notes Receivable (3 month) 50,000 Land Common Stock (1,000,000 shares) 100,000 Cash Salaries Payable 90,000 192,000 110,000 20,000 150,000 113,000 40,000 15,000 Assets Current Assets Total Current Assets Fixed Assets Total Fixed Assets Intangible Assets Total Intangible Assets...
Recast Frosty Footwear's balance sheet for the last year, considering the balance sheet adjustments for the...
Recast Frosty Footwear's balance sheet for the last year,
considering the balance sheet adjustments for the asset approach to
business value. Recommend a business value using the asset
approach.
Exhibit 2: Frosty Footwear Inc. Balance Sheets for Years 2006-2007 12/31/2007 12/31/2006 $ Current Assets Cash Accounts Receivable (net 5,000) Inventory Prepaid Expenses $ 503,443 613,485 852,343 391,347 610,525 654,684 33,035 Total Current Assets $1,969,271 $ 1,689,591 Property, Plant & Equipment Leasehold Improvements Furniture & Fixtures Machinery & Equipment Vehicles 5,120...
Recast Frosty Footwear's balance sheet for the last year, considering the balance sheet adjustments for the...
Recast Frosty Footwear's balance sheet for the last year,
considering the balance sheet adjustments for the asset approach to
business value. Recommend a business value using the asset
approach.
10. In reviewing Frosty Footwear's 2007 balance sheet with the owners, Gary identified $25,000 of scrap inventory still on the books. 11. Accelerated depreciation had been used for income tax purposes (Internal Revenue Code $ 168) but straight-linc depreciation would have been $198,845 less over the years of fixed assets' ownership....
current ratio quick ratio REVIEW QUESTIONS AND EXERCISES TABLE P3.3 67 Balance Sheet, Peachtree Construction (31...
current ratio
quick ratio
REVIEW QUESTIONS AND EXERCISES TABLE P3.3 67 Balance Sheet, Peachtree Construction (31 December 2016) $243.146 201.573 42,147 243,720 1,873 76.142 Assets Current assets Cash Accounts receivable Trade accounts Retainage Total accounts receivable Material inventory Work in process (costs and estimated earnings in excess of billings) Prepaid expenses- Other current assets Total current assets Fixed assets Machinery and equipment Cars and trucks Furniture and fixtures Total depreciable assets Less accumulated depreciation Net fixed assets Total assets 6,148...
Assume that you have a company with this Balance Sheet Calculate Current Ratio Quick Ratio What...
Assume that you have a company with this Balance Sheet
Calculate
Current Ratio
Quick Ratio
What do each tell you about the company's financial
situation?
From the Roots Up Company Balance Sheet For the Year Ended December 31, 200X (In Thousands $223 886 214 7.5% 29.7% .06% 29.1% 7.2% 13.4% 16.7% 8.9% 39.0% 82.8% 399 497 264 1.160 2.463 402 13.5% 1.0% 0.05 3.19 18.6% 552 110 442 Current Assets Cash Accts/Notes Rec-Trade Bad Debt Reserve - Total Accts/Rec-Net Accts/Notes...
Question 1: (20 Marks) In addition to the below balance sheet and income statement you are given the following information about MFI Sano.
Question 1: (20 Marks) In addition to the below balance sheet and income statement you are given the following information about MFI Sano. Expected Inflation2.8%The market rate for commercial loans is12.0%The actual interest rate paid for subsidized loans is4.0%In-kind donations adjustments$400,000In-cash donations adjustments$250,000 The table below reports the income statement and balance sheet of MFI Sano for 2014 and 2015: Balance Sheet Dec. 2015Dec. 2014ASSETSCash28,00029,000Investments83,00095,000Total loan portfolio832,000625,000(Loan loss reserve)(55,000)(50,000)Total net loans outstanding777,000575,000Fixed assets32,80025,800(Accumulated depreciation)(10,500)(9,000)Net fixed assets22,30016,800TOTAL ASSETS910,300715,800 LIABILITIESForced savings95,000100,000Commercial loans18,90014,800Subsidized loans48,50029,500TOTAL LIABILITIES162,400144,300 EQUITYDonated equity...
1. Arrange the following items into an income statement and balance sheet in the normal order....
1. Arrange the following items into an income statement and balance sheet in the normal order. Retained Earnings Interest Expense- Long Term Debt Accounts Payable Depreciation Accumulated Depreciation Current Assets Taxable Income Accounts Receivable Cash Gross Fixed Assets Inventory Cost of Goods Sold - Labor Expense - Common Stock Taxes Sales - Overhead Total Assets After Tax Income Net Fixed Assets Short Term Debt Current Liabilities Total Liabilities and Net Worth EBIT Gross Profit
Use the following tinancial statements: Dynamic Mattress Year-End Balance Sheet for 2014 (figures in $ millions) Current Liabilities: Bank loans Current Assets Cash Marketable securities Accounts receivable Inventory 49 134 183 188 Accounts payable 137 142 467 Long-term debt Total current liabilities Total current assets 84 428 Net worth (equity and retained earnings) Fixed assets Gross investment Less depreciation Net fixed assets 332 104 228 695 Total assets Total liabilities and net worth 695 Dynamic Mattress Year-End Balance Sheet for...
Balance Sheet Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Assets Current assets: Cash $19,600 Accounts payable 33,300 Supplies 8,900 Prepaid insurance 15,900 Land 254,100 Total current assets $331,800 Property, plant, and equipment: Building $531,800 Equipment 120,300 Total property, plant, and equipment 864,800 Total assets $1,196,600 Liabilities Current liabilities: Accounts receivable $44,500 Accumulated depreciation-building 219,000 Accumulated depreciation-equipment 35,600 Net income 190,300 Total liabilities $489,400...
Balance Sheet: Use the following financial information to prepare a balance sheet: Burger Shack, Inc.; Balance Sheet Inventory 335,000 Accounts Receivable Accounts Payable 40.000 Buildings Furniture and Fixtures 16,000 Trademark Mortgage 325,000 Note Payable (6 month) Equipment and Vehicles 40,000 Retained Earnings Notes Receivable (3 month) 50,000 Land Common Stock (1,000,000 shares) 100,000 Cash Salaries Payable 90,000 192,000 110,000 20,000 150,000 113,000 40,000 15,000 Assets Current Assets Total Current Assets Fixed Assets Total Fixed Assets Intangible Assets Total Intangible Assets...
Recast Frosty Footwear's balance sheet for the last year,
considering the balance sheet adjustments for the asset approach to
business value. Recommend a business value using the asset
approach.
Exhibit 2: Frosty Footwear Inc. Balance Sheets for Years 2006-2007 12/31/2007 12/31/2006 $ Current Assets Cash Accounts Receivable (net 5,000) Inventory Prepaid Expenses $ 503,443 613,485 852,343 391,347 610,525 654,684 33,035 Total Current Assets $1,969,271 $ 1,689,591 Property, Plant & Equipment Leasehold Improvements Furniture & Fixtures Machinery & Equipment Vehicles 5,120...
Recast Frosty Footwear's balance sheet for the last year,
considering the balance sheet adjustments for the asset approach to
business value. Recommend a business value using the asset
approach.
10. In reviewing Frosty Footwear's 2007 balance sheet with the owners, Gary identified $25,000 of scrap inventory still on the books. 11. Accelerated depreciation had been used for income tax purposes (Internal Revenue Code $ 168) but straight-linc depreciation would have been $198,845 less over the years of fixed assets' ownership....
current ratio
quick ratio
REVIEW QUESTIONS AND EXERCISES TABLE P3.3 67 Balance Sheet, Peachtree Construction (31 December 2016) $243.146 201.573 42,147 243,720 1,873 76.142 Assets Current assets Cash Accounts receivable Trade accounts Retainage Total accounts receivable Material inventory Work in process (costs and estimated earnings in excess of billings) Prepaid expenses- Other current assets Total current assets Fixed assets Machinery and equipment Cars and trucks Furniture and fixtures Total depreciable assets Less accumulated depreciation Net fixed assets Total assets 6,148...
Assume that you have a company with this Balance Sheet
Calculate
Current Ratio
Quick Ratio
What do each tell you about the company's financial
situation?
From the Roots Up Company Balance Sheet For the Year Ended December 31, 200X (In Thousands $223 886 214 7.5% 29.7% .06% 29.1% 7.2% 13.4% 16.7% 8.9% 39.0% 82.8% 399 497 264 1.160 2.463 402 13.5% 1.0% 0.05 3.19 18.6% 552 110 442 Current Assets Cash Accts/Notes Rec-Trade Bad Debt Reserve - Total Accts/Rec-Net Accts/Notes...
1. Arrange the following items into an income statement and balance sheet in the normal order. Retained Earnings Interest Expense- Long Term Debt Accounts Payable Depreciation Accumulated Depreciation Current Assets Taxable Income Accounts Receivable Cash Gross Fixed Assets Inventory Cost of Goods Sold - Labor Expense - Common Stock Taxes Sales - Overhead Total Assets After Tax Income Net Fixed Assets Short Term Debt Current Liabilities Total Liabilities and Net Worth EBIT Gross Profit
Most questions answered within 3 hours.
-
Angel Corporation has $10,000,000 of
8.0% 25 year bonds dated May 1, 2018 with interest payable...
asked 25 minutes ago -
7.
________ involves individuals trading goods they already have or
providing services in exchange for something...
asked 30 minutes ago -
Share your research problem. What databases did you search as
you gathered evidence to support your...
asked 30 minutes ago -
what process occurs to form microspores and megaspores in flowering
plants?
asked 37 minutes ago -
C++
I need to use the function getData to put in all my data using
arrays....
asked 36 minutes ago -
A block is hung by a string from the inside roof of a van. When
the...
asked 43 minutes ago -
Do you think companies should not go for long term debt in their
capital structure to...
asked 52 minutes ago -
I create an address book where the user enters the name, phone
and email in the...
asked 58 minutes ago -
The production capacity for acrylonitrile
(C3H3N) in the United States exceeds 2
million pounds per year....
asked 1 hour ago -
explain and comment out your answer
43. How many address lines are required to address a...
asked 1 hour ago -
A sample of 45 observations is selected from a normal
population. The sample mean is 49,...
asked 1 hour ago -
A construction company is planning to bid on a building
contract. The bid costs the company...
asked 1 hour ago