Homework Answers
| Total assets as at Dec31, 2019 | 11,80,000 | |||||
| Less: Total Liabilities as at Dec31, 2019 | 4,75,000 | |||||
| Total Stockholder's equity as at Dec31, 2019 | 7,05,000 | |||||
| Percentage of Stockholder's equity at Dec31, 2019: | ||||||
| Total Stockholder's equity | 7,05,000 | |||||
| Divide: Total assets | 11,80,000 | |||||
| Percentage of Stockholder's equity at Dec31, 2019: | 59.75% | |||||
| Answer is A. 59.75% | ||||||
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This Question: 2 pts 5 of 40 (3 complete) Modern Moving Company reported the following amounts...
Modern Moving Company reported the following amounts on its balance sheet as of December 31, 2019...
Modern Moving Company reported the following amounts on its balance sheet as of December 31, 2019 and December 31, 2018: 2019 2018 Cash and Receivables $175,000 $135,000 Merchandise Inventory 235,000 170,000 Property, Plant and Equipment, net 780,000 790,000 Total Assets $1,190,000 $1,095,000 Total Liabilities S485,000 $445,000 For the vertical analysis, what is the percentage of stockholders' equity as of December 31, 2019? (Round your answer to two decimal places.) O A. 59.36% OB. 59.24% O c. 100.00% OD. There is...
Argentina Moving Company reported the following amounts on its balance sheet as of December 31, 2016...
Argentina Moving Company reported the following amounts on its balance sheet as of December 31, 2016 and December 31, 2017: Cash and Receivables Merchandise Inventory Property, Plant and Equipment, net Total Assets Total Liabilities 2017 $75,000 145,000 830,000 $1,050,000 $535,000 2016 $95,000 250,000 790,000 $1,135,000 $375,000 For the vertical analysis, what is the percentage of stockholders' equity as of December 31, 2017? (Round your answer to two decimal places.) O A. 100% OB. 49.05% O C. 66.96% OD. There is...
Malin Optical Company reported the following amounts on its balance sheet at December 31, 2018 and...
Malin Optical Company reported the following amounts on its balance sheet at December 31, 2018 and 2017: F (Click the icon to view the amounts.) Prepare a vertical analysis of Malin's assets for 2018 and 2017 Begin by preparing a vertical analysis of Malin's assets for 2018, then prepare a vertical analysis for 2017. (Round the percent of total amounts to one decimal place, X.X%.) Data Table Malin Optical Company Balance Sheet (partial) December 31, 2016 and 2017 Percent of...
This Question: 2 pts 13 of 40 (12 complete The financial statements for Silver Service Company...
This Question: 2 pts 13 of 40 (12 complete The financial statements for Silver Service Company include the following items: 2019 2018 Cash $44,500 $50,000 Short-term Investments 30,000 17,500 Net Accounts Receivable 61,000 46,000 Merchandise Inventory 128,000 47,000 Total Assets 528,000 545,000 Accounts Payable 127,500 132,000 Salaries Payable 17,000 14,000 Long-term Note Payable 57,000 55,000 Compute the acid - test ratio for 2018. (Round your answer to two decimal places) A. 0.66 OB 0.94 OC. 0.78 OD 0.86
6 of 40 (3 complete) The following is summary of information presented on the financial statements...
6 of 40 (3 complete) The following is summary of information presented on the financial statements of a company on December 31, 2019. Account 2019 2018 Current Assets $66,000 $55,000 Accounts Receivable 80,000 80,000 Merchandise Inventory 51,000 45,000 Current Liabilities 72,000 57,000 Long-term Liabilities 33,000 55,000 Common Stock 51,000 41,000 Retained Earnings 41,000 27,000 Net Sales Revenue Cost of Goods Sold $526,000 401,000 $500,000 399,000 O A. a 26.32% increase in current liabilities OB. that current liabilities are 36.55% of...
This Question: 6 pts 9 of 11 (0 complete) Pizza, Inc provides the following data Assets...
This Question: 6 pts 9 of 11 (0 complete) Pizza, Inc provides the following data Assets Current Assets 2019 2018 Cash and Cash Equivalents Accounts Receivable, Net $38,000 $25,000 3,000 62,000 5,000 50,000 $126,000 137,000 000 120,000 $246.000 $257.000 Merchandise Inventory Total Current Assets Property, Plant, and Equipment, Net$120 Total Assets For the year ending December 31, 2019 Net Credit Sales 510000 O A. 203 times O B. 4.05 times O C. 069 times OD. 1.01 times select your answer
Multiple-Choice Exercise 7-1 Anniston Company purchased equipment and incurred the following costs: Purchase price $52,000 Cost...
Multiple-Choice Exercise 7-1 Anniston Company purchased equipment and incurred the following costs: Purchase price $52,000 Cost of trial runs 750 Installation costs 250 Sales tax 2,600 What is the cost of the equipment? Oa. $52,000 Ob. $54,600 Oc. $54,850 Od. $55,600 Multiple-Choice Exercise 7-2 The cost principle requires that companies record tangible capital assets at: Oa. fair value. Ob. book value. Oc. historical cost. d. market value. Multiple-Choice Exercise 7-3 When depreciation expense is recorded each period, what account is...
same question had to scroll down This Question: 2 pts 9 of 21 (1 complete) The...
same question had to scroll down
This Question: 2 pts 9 of 21 (1 complete) The following is summary of information presented on the financial statements of a company on December 31, 2019. Account 2019 2018 Current Assets $67,000 $50,000 Accounts Receivable 81,000 79,000 Merchandise Inventory 51,000 42,000 Current Liabilities 74,000 54,000 Long-term Liabilities 30,000 50,000 Common Stock 55,000 40,000 Retained Earnings 40,000 27,000 Net Sales Revenue $525,000 $507,000 403,000 396,000 Cost of Goods Sold A. a current ratio of...
Problem 5-35 (LO 5-1, 5-2, 5-3, 5-4, 5-5, 5-6, 5-7) The individual financial statements for Gibson Company and Keller C...
Problem 5-35 (LO 5-1, 5-2, 5-3, 5-4, 5-5, 5-6, 5-7) The individual financial statements for Gibson Company and Keller Company for the year ending December 31, 2018, follow. Gibson acquired a 60 percent interest in Keller on January 1, 2017, in exchange for various considerations totaling $420,000. At the acquisition date, the fair value of the noncontrolling interest was $280,000 and Keller's book value was $550,000. Keller had developed internally a customer list that was not recorded on its books...
Modern Moving Company reported the following amounts on its balance sheet as of December 31, 2019 and December 31, 2018: 2019 2018 Cash and Receivables $175,000 $135,000 Merchandise Inventory 235,000 170,000 Property, Plant and Equipment, net 780,000 790,000 Total Assets $1,190,000 $1,095,000 Total Liabilities S485,000 $445,000 For the vertical analysis, what is the percentage of stockholders' equity as of December 31, 2019? (Round your answer to two decimal places.) O A. 59.36% OB. 59.24% O c. 100.00% OD. There is...
Argentina Moving Company reported the following amounts on its balance sheet as of December 31, 2016 and December 31, 2017: Cash and Receivables Merchandise Inventory Property, Plant and Equipment, net Total Assets Total Liabilities 2017 $75,000 145,000 830,000 $1,050,000 $535,000 2016 $95,000 250,000 790,000 $1,135,000 $375,000 For the vertical analysis, what is the percentage of stockholders' equity as of December 31, 2017? (Round your answer to two decimal places.) O A. 100% OB. 49.05% O C. 66.96% OD. There is...
Malin Optical Company reported the following amounts on its balance sheet at December 31, 2018 and 2017: F (Click the icon to view the amounts.) Prepare a vertical analysis of Malin's assets for 2018 and 2017 Begin by preparing a vertical analysis of Malin's assets for 2018, then prepare a vertical analysis for 2017. (Round the percent of total amounts to one decimal place, X.X%.) Data Table Malin Optical Company Balance Sheet (partial) December 31, 2016 and 2017 Percent of...
This Question: 2 pts 13 of 40 (12 complete The financial statements for Silver Service Company include the following items: 2019 2018 Cash $44,500 $50,000 Short-term Investments 30,000 17,500 Net Accounts Receivable 61,000 46,000 Merchandise Inventory 128,000 47,000 Total Assets 528,000 545,000 Accounts Payable 127,500 132,000 Salaries Payable 17,000 14,000 Long-term Note Payable 57,000 55,000 Compute the acid - test ratio for 2018. (Round your answer to two decimal places) A. 0.66 OB 0.94 OC. 0.78 OD 0.86
6 of 40 (3 complete) The following is summary of information presented on the financial statements of a company on December 31, 2019. Account 2019 2018 Current Assets $66,000 $55,000 Accounts Receivable 80,000 80,000 Merchandise Inventory 51,000 45,000 Current Liabilities 72,000 57,000 Long-term Liabilities 33,000 55,000 Common Stock 51,000 41,000 Retained Earnings 41,000 27,000 Net Sales Revenue Cost of Goods Sold $526,000 401,000 $500,000 399,000 O A. a 26.32% increase in current liabilities OB. that current liabilities are 36.55% of...
This Question: 6 pts 9 of 11 (0 complete) Pizza, Inc provides the following data Assets Current Assets 2019 2018 Cash and Cash Equivalents Accounts Receivable, Net $38,000 $25,000 3,000 62,000 5,000 50,000 $126,000 137,000 000 120,000 $246.000 $257.000 Merchandise Inventory Total Current Assets Property, Plant, and Equipment, Net$120 Total Assets For the year ending December 31, 2019 Net Credit Sales 510000 O A. 203 times O B. 4.05 times O C. 069 times OD. 1.01 times select your answer
Multiple-Choice Exercise 7-1 Anniston Company purchased equipment and incurred the following costs: Purchase price $52,000 Cost of trial runs 750 Installation costs 250 Sales tax 2,600 What is the cost of the equipment? Oa. $52,000 Ob. $54,600 Oc. $54,850 Od. $55,600 Multiple-Choice Exercise 7-2 The cost principle requires that companies record tangible capital assets at: Oa. fair value. Ob. book value. Oc. historical cost. d. market value. Multiple-Choice Exercise 7-3 When depreciation expense is recorded each period, what account is...
same question had to scroll down
This Question: 2 pts 9 of 21 (1 complete) The following is summary of information presented on the financial statements of a company on December 31, 2019. Account 2019 2018 Current Assets $67,000 $50,000 Accounts Receivable 81,000 79,000 Merchandise Inventory 51,000 42,000 Current Liabilities 74,000 54,000 Long-term Liabilities 30,000 50,000 Common Stock 55,000 40,000 Retained Earnings 40,000 27,000 Net Sales Revenue $525,000 $507,000 403,000 396,000 Cost of Goods Sold A. a current ratio of...
Problem 5-35 (LO 5-1, 5-2, 5-3, 5-4, 5-5, 5-6, 5-7) The individual financial statements for Gibson Company and Keller Company for the year ending December 31, 2018, follow. Gibson acquired a 60 percent interest in Keller on January 1, 2017, in exchange for various considerations totaling $420,000. At the acquisition date, the fair value of the noncontrolling interest was $280,000 and Keller's book value was $550,000. Keller had developed internally a customer list that was not recorded on its books...
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