Eric has gathered the information on the next page. He started to set up some financial...
Homework Answers
| Balance Sheet | ||
| 2014 | 2015 | |
| Assets | ||
| Current Assets | ||
| Cash | 50000 | 65000 |
| Market livestock | 20000 | 48000 |
| Total Current Assets | 70000 | 113000 |
| Non-current assets | ||
| Machinary | 350000 | 310000 |
| Building | 130000 | 95000 |
| Land | 550000 | 550000 |
| Total NC assets | 1030000 | 955000 |
| Total Assets | 1100000 | 1068000 |
| Liabilities | ||
| Current Liabilities | ||
| Account Payable | 10000 | 13000 |
| Cur, port. Term debt | 40000 | 46000 |
| Total current liabilities | 50000 | 59000 |
| Non current liabilities | ||
| Mortage | 380000 | 334000 |
| Total Non current liability | 380000 | 334000 |
| Total Liabilities | 430000 | 393000 |
| Owner Equity | 670000 | 675000 |
| Total | 1100000 | 1068000 |
| Income statement | |
| Revenue | Amount |
| Cash Receipt | 725000 |
| chg. Live stock inventory | 28000 |
| Gross Revenue | 753000 |
| Expenses | |
| Cash operating expenses | 520000 |
| Non cash adj. | |
| Change Acc pay | 3000 |
| machinery depreciation | 40000 |
| Building depreciation | 35000 |
| Total operating expenses | 598000 |
| Interest expense | 44000 |
| Total Farm expense | 642000 |
| NFIO | 111000 |
| Income tax | 25000 |
| Net Income | 86000 |
| Statement Of owner Equity | |
| Details | Amount |
| Beginning owner equity | 670000 |
| chngs cap. Contr. RE | |
| Net Income | 86000 |
| Withdrawals | -81000 |
| contribution capital | 0 |
| Total changes in contri capital | |
| and retained earnings | 5000 |
| Ending owner equity | 675000 |
Add Answer to:
Eric has gathered the information on the next page. He started
to set up some financial...
Fill in all of the boxes to complete the financial statements Balance Sheet/(cost basis) 2014 2015...
Fill in all of the boxes to complete the financial statements
Balance Sheet/(cost basis) 2014 2015 2014 2015 Assets Current assets Cash Market Livestock Liabilities Current Liabilities Accounts Payable Cur. Port term debt 50,000 20,000 70,000 65,000 48,000 113,000 10,000 40,000 50,000 13,000 46,000 59,000 Total Current assets Total Cur. Liabilities Non-current Assets Machinery Building Land Total NC Assets Non-current Liabilities Mortgage Total NC Liabilities 380,000 380,000 334,000 334,000 350,000 130,000 550.000 1,030,000 310,000 95,000 550,000 955,000 Total Liabilities 430,000...
Given the above Finacail Statemtns, Calculate all of the missing performance measures in sheet “PM” (below)...
Given the above Finacail Statemtns, Calculate all of the missing
performance measures in sheet “PM” (below) for Vandelay Farms.“CF”
is the statement of cash flow summary for Vandelay Farms. Based on
the performance ratios, is Vandelay Farms in any kind of financial
trouble? Why or why not?
Balance Sheet Summary for Vandelay Farms Historica Pro 2017 Current assets Cash, savings, and marketable securities Crops, feed, and supplies Market livestock Accounts receivable Other current assets All personal assets Total current assets...
Review Problems 1 Given the following financial information, calculate the missing values $1,000 95,000 Cash Crop...
Review Problems 1 Given the following financial information, calculate the missing values $1,000 95,000 Cash Crop revenue Grain inventory Total operating expenses Prepaid expenses Notes payable Accrued interest Interest expense Supplies Owner equity 200 10,000 Machinery and equipment Farm real estate Total current assets $75,000 Total current liabilities 150,000 Accounts payable 17,500 Cash investment in growing 14,000 crops 2.000 Net farm income from 800 operations 27,000 Current portion of noncurrent 1.500 debt Deferred portion of noncurrent debt 10,000 500 138,500...
complete the following balance sheet. Assets 12/31/2018 12/31/2019 Change Cash $25,000 $35,000 Marketable Securities $10,000 $15,000...
complete the following balance sheet. Assets 12/31/2018
12/31/2019 Change Cash $25,000 $35,000 Marketable Securities
$10,000 $15,000 Accounts Receivable $1,500 $1,500 Fertilizer and
Supplies $500 $25,000 Investments in Growing Crops $48,500 $86,000
Crops held for Sale and Feed $12,000 $8,000 Market Livestock
$75,000 $115,000 Total Current Assets Breeding Livestock $45,000
$35,000 Machinery and Equipment $350,000 $315,000 Buildings $75,000
$85,000 Investments in Cooperatives $2,000 $2,000 Land $500,000
$525,000 Total Non-Current Assets Total Assets Flag this Question
Question 211.5 pts Complete the following...
A farm business manager has just finished preparing end of year financial statements for the business....
A farm business manager has just finished preparing end of year financial statements for the business. The following financial information was determined: Current assets – beginning of year $200,000 Total assets – beginning of year $600,000 Current liabilities – beginning of year $100,000 Total liabilities – beginning of year $150,000 Total equity – beginning of year $450.000 Current assets – end of year $250,000 Total assets – end of year $800,000 Current liabilities – end of year $150,000 Total liabilities – end of year $300,000 Total equity – end...
Required: Prepare Alrich Farms statement of cash flows for fiscal 2015 using the indirect method.
Required: Prepare Alrich Farms statement of cash flows
for fiscal 2015 using the indirect method.
Page 4 9B17B008 EXHIBIT 1: ALRICH FARMS STATEMENT OF EARNINGS YEAR ENDED DECEMBER 31, 2015 (IN CANADIAN DOLLARS) REVENUE Crop revenue Livestock revenue $198,465 26,278 224,743 Variable crop costs Variable livestock costs 125,665 Contribution 91,107 FIXED COSTS 5,488 15,911 3,208 3,330 46,924 (3,944) 18,507 35,000 8,687 Fuel-machinery & vehicle Maintenance-machinery & vehicle Insurance-machinery & vehicle Equipment repairs Loss on sale of equipment Gain on trade-in...
please help Waterloo Corporation Statement of Financial Position 31-Dec 2015 2014 2013 Assets Cash $32,000 $19,000...
please help
Waterloo Corporation Statement of Financial Position 31-Dec 2015 2014 2013 Assets Cash $32,000 $19,000 $10,000 Accounts Receivable (net) 95,000 70,000 53,000 Inventory 81,000 71,000 53,000 Other current assets 65,000 49,000 61,000 Long-term investments 120,000 76,000 50,000 Property, Plant & Equipment (net) 598,000 345,000 315.000 Total Assets $991,000 $630,000 $542,000 $71,500 245.000 316,500 $56,000 75.000 131,000 $65,000 78,000 143,000 Liabilities & Shareholders' Equity Liabilities Current Liabilities Non-current liabilities Total Liabilities Shareholders' Equity Common Shares Retained Earnings Total Shareholders' Equity...
Income statement and the net worth (balance sheet) statement Net Income Statement Name: Grumpy Farms Year:...
Income statement and the net worth (balance sheet) statement Net Income Statement Name: Grumpy Farms Year: 2018 $293,328 283,815 577,143 Cash farm income Corn Sales Hog Sales Gross Cash farm income Inventory changes* Corn Total inventory change Gross farm revenue 21.850 21,850 $598,993 $367,800 53.000 Cash farmexpenses Depreciation Total operating expenses Total interest expense Total expenses $420,800 $39.000 $459,800 Net farm income from operations (NFIO) $139,193 Capital Adjustments Machinery (sold tractor) Net Farm Income (NFI) $151,693 $45,000 Note: the unpaid...
please do Waterloo Corporation Statement of Financial Position 31-Dec 2015 2014 2013 Assets Cash $32,000 $19,000...
please do
Waterloo Corporation Statement of Financial Position 31-Dec 2015 2014 2013 Assets Cash $32,000 $19,000 $10,000 Accounts Receivable (net) 95,000 70,000 53,000 Inventory 81,000 71,000 53,000 Other current assets 65,000 49,000 61,000 Long-term investments 120,000 76,000 50,000 Property, Plant & Equipment (net) 598,000 345,000 315.000 Total Assets $991,000 $630,000 $542,000 $71,500 245.000 316,500 $56,000 75.000 131,000 $65,000 78,000 143,000 Liabilities & Shareholders' Equity Liabilities Current Liabilities Non-current liabilities Total Liabilities Shareholders' Equity Common Shares Retained Earnings Total Shareholders' Equity...
[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company...
[The following information applies to the questions displayed
below.] Selected comparative financial statements of Korbin Company
follow KORBIN COMPANY Comparative Income Statements For Years Ended
December 31, 2015, 2014, and 2013 2015 2014 Sales $ 490,941 $
376,101 Cost of goods sold 295,546 236,944 2013 $ 261,000 167,040
Gross profit Selling expenses Administrative expenses 195,395
69,714 44,185 139,157 51,902 33,097 93,960 34,452 21,663 Total
expenses 113,899 84,999 56,115 Income before taxes Income taxes
81,496 15,158 54,158 11,102 37,845 7,683 Net...
Fill in all of the boxes to complete the financial statements
Balance Sheet/(cost basis) 2014 2015 2014 2015 Assets Current assets Cash Market Livestock Liabilities Current Liabilities Accounts Payable Cur. Port term debt 50,000 20,000 70,000 65,000 48,000 113,000 10,000 40,000 50,000 13,000 46,000 59,000 Total Current assets Total Cur. Liabilities Non-current Assets Machinery Building Land Total NC Assets Non-current Liabilities Mortgage Total NC Liabilities 380,000 380,000 334,000 334,000 350,000 130,000 550.000 1,030,000 310,000 95,000 550,000 955,000 Total Liabilities 430,000...
Given the above Finacail Statemtns, Calculate all of the missing
performance measures in sheet “PM” (below) for Vandelay Farms.“CF”
is the statement of cash flow summary for Vandelay Farms. Based on
the performance ratios, is Vandelay Farms in any kind of financial
trouble? Why or why not?
Balance Sheet Summary for Vandelay Farms Historica Pro 2017 Current assets Cash, savings, and marketable securities Crops, feed, and supplies Market livestock Accounts receivable Other current assets All personal assets Total current assets...
Review Problems 1 Given the following financial information, calculate the missing values $1,000 95,000 Cash Crop revenue Grain inventory Total operating expenses Prepaid expenses Notes payable Accrued interest Interest expense Supplies Owner equity 200 10,000 Machinery and equipment Farm real estate Total current assets $75,000 Total current liabilities 150,000 Accounts payable 17,500 Cash investment in growing 14,000 crops 2.000 Net farm income from 800 operations 27,000 Current portion of noncurrent 1.500 debt Deferred portion of noncurrent debt 10,000 500 138,500...
complete the following balance sheet. Assets 12/31/2018
12/31/2019 Change Cash $25,000 $35,000 Marketable Securities
$10,000 $15,000 Accounts Receivable $1,500 $1,500 Fertilizer and
Supplies $500 $25,000 Investments in Growing Crops $48,500 $86,000
Crops held for Sale and Feed $12,000 $8,000 Market Livestock
$75,000 $115,000 Total Current Assets Breeding Livestock $45,000
$35,000 Machinery and Equipment $350,000 $315,000 Buildings $75,000
$85,000 Investments in Cooperatives $2,000 $2,000 Land $500,000
$525,000 Total Non-Current Assets Total Assets Flag this Question
Question 211.5 pts Complete the following...
Required: Prepare Alrich Farms statement of cash flows
for fiscal 2015 using the indirect method.
Page 4 9B17B008 EXHIBIT 1: ALRICH FARMS STATEMENT OF EARNINGS YEAR ENDED DECEMBER 31, 2015 (IN CANADIAN DOLLARS) REVENUE Crop revenue Livestock revenue $198,465 26,278 224,743 Variable crop costs Variable livestock costs 125,665 Contribution 91,107 FIXED COSTS 5,488 15,911 3,208 3,330 46,924 (3,944) 18,507 35,000 8,687 Fuel-machinery & vehicle Maintenance-machinery & vehicle Insurance-machinery & vehicle Equipment repairs Loss on sale of equipment Gain on trade-in...
please help
Waterloo Corporation Statement of Financial Position 31-Dec 2015 2014 2013 Assets Cash $32,000 $19,000 $10,000 Accounts Receivable (net) 95,000 70,000 53,000 Inventory 81,000 71,000 53,000 Other current assets 65,000 49,000 61,000 Long-term investments 120,000 76,000 50,000 Property, Plant & Equipment (net) 598,000 345,000 315.000 Total Assets $991,000 $630,000 $542,000 $71,500 245.000 316,500 $56,000 75.000 131,000 $65,000 78,000 143,000 Liabilities & Shareholders' Equity Liabilities Current Liabilities Non-current liabilities Total Liabilities Shareholders' Equity Common Shares Retained Earnings Total Shareholders' Equity...
Income statement and the net worth (balance sheet) statement Net Income Statement Name: Grumpy Farms Year: 2018 $293,328 283,815 577,143 Cash farm income Corn Sales Hog Sales Gross Cash farm income Inventory changes* Corn Total inventory change Gross farm revenue 21.850 21,850 $598,993 $367,800 53.000 Cash farmexpenses Depreciation Total operating expenses Total interest expense Total expenses $420,800 $39.000 $459,800 Net farm income from operations (NFIO) $139,193 Capital Adjustments Machinery (sold tractor) Net Farm Income (NFI) $151,693 $45,000 Note: the unpaid...
please do
Waterloo Corporation Statement of Financial Position 31-Dec 2015 2014 2013 Assets Cash $32,000 $19,000 $10,000 Accounts Receivable (net) 95,000 70,000 53,000 Inventory 81,000 71,000 53,000 Other current assets 65,000 49,000 61,000 Long-term investments 120,000 76,000 50,000 Property, Plant & Equipment (net) 598,000 345,000 315.000 Total Assets $991,000 $630,000 $542,000 $71,500 245.000 316,500 $56,000 75.000 131,000 $65,000 78,000 143,000 Liabilities & Shareholders' Equity Liabilities Current Liabilities Non-current liabilities Total Liabilities Shareholders' Equity Common Shares Retained Earnings Total Shareholders' Equity...
[The following information applies to the questions displayed
below.] Selected comparative financial statements of Korbin Company
follow KORBIN COMPANY Comparative Income Statements For Years Ended
December 31, 2015, 2014, and 2013 2015 2014 Sales $ 490,941 $
376,101 Cost of goods sold 295,546 236,944 2013 $ 261,000 167,040
Gross profit Selling expenses Administrative expenses 195,395
69,714 44,185 139,157 51,902 33,097 93,960 34,452 21,663 Total
expenses 113,899 84,999 56,115 Income before taxes Income taxes
81,496 15,158 54,158 11,102 37,845 7,683 Net...
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