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Exercise 8-14 a Bramble Company has recorded the following items in its financial records. Cash in...
350 8) Kaniper Company has the following balances at December 31, 2017 Cash in checking account...
350 8) Kaniper Company has the following balances at December 31, 2017 Cash in checking account $15,000 Petty cash 250 Check from customer dated 01/31/2018 Certificates of Deposits, maturing in 1-5 years 250,000 US Treasury bill purchased 12/1/2017, maturing 2/20/2018 40,000 US Treasury bill purchased 3/1/2017, maturing 1/20/2018 36,000 Cash in bond sinking fund account 60,000 Kaniper's policy is to treat as cash equivalents all highly liquid investments with a maturity of three months or less when purchased. What amount...
8) Kaniper Company has the following balances at December 31, 2017 Cash in checking account $15,000...
8) Kaniper Company has the following balances at December 31, 2017 Cash in checking account $15,000 Petty cash 250 Check from customer dated 01/31/2018 350 Certificates of Deposits, maturing in 1-5 years 250,000 US Treasury bill purchased 12/1/2017, maturing 2/20/2018 40,000 US Treasury bill purchased 3/1/2017, maturing 1/20/2018 36,000 Cash in bond sinking fund account 60,000 Kaniper's policy is to treat as cash equivalents all highly liquid investments with a maturity of three months or less when purchased. What amount...
Problem 5-7 Bramble Inc. had the following balance sheet at December 31, 2019. Cash Accounts receivable...
Problem 5-7 Bramble Inc. had the following balance sheet at December 31, 2019. Cash Accounts receivable Investments Plant assets (net) Land BRAMBLE INC. BALANCE SHEET DECEMBER 31, 2019 $ 22,390 Accounts payable 23,590 Bonds payable 32,000 Common stock 83,390 Retained earnings 42,390 $203,760 $ 32,390 43,390 102,390 25,590 $203,760 During 2020, the following occurred. 1. 2. 3. 4. 5. 6. 7. Bramble liquidated its available-for-sale debt investment portfolio at a loss of $7,390. A tract of land was purchased for...
Bramble Company has the following stockholders’ equity accounts at December 31, 2017. Common Stock ($100 par...
Bramble Company has the following stockholders’ equity accounts
at December 31, 2017. Common Stock ($100 par value, authorized
8,600 shares) $455,900 Retained Earnings 311,600 Prepare entries in
journal form to record the following transactions, which took place
during 2018. (Credit account titles are automatically indented when
amount is entered. Do not indent manually. If no entry is required,
select "No Entry" for the account titles and enter 0 for the
amounts.) (1) 300 shares of outstanding stock were purchased at...
Exercise 5-5 Stellar Company has decided to expand its operations. The bookkeeper recently completed the following bala...
Exercise 5-5 Stellar Company has decided to expand its operations. The bookkeeper recently completed the following balance sheet in order to obtain additional funds for expansion. $235,500 345,500 406,500 145,500 575,500 165,500 180,500 STELLAR COMPANY BALANCE SHEET FOR THE YEAR ENDED 2020 Current assets Cash Accounts receivable (net) Inventory (lower-of-average-cost-or-market) Equity investments (marketable)-at cost (fair value $125,500) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Cash surrender value of life insurance Prepaid...
Refer to the following financial statements and answer the following questions hints:- 13. cash provided (used)...
Refer to the following financial statements
and answer the following questions
hints:-
13. cash provided (used) by operating activities, investing
activities, and financing activities. 14. cash-based net income.
15. estimate of uncollectible accounts receivable. 16. calculate
and interpret accounts receivable ratio (most recent and prior
period).
hints:-
2:12 PM Wed Apr 15 39%). A 51.04cdn.com PART II NIKE, Inc. Consolidated Statements of Income in mWors, except per share data) Revenues Cost of sales Gross profit Demand creation expense Operating overhead...
Exercise 5-5 Windsor Company has decided to expand its operations. The bookkeeper recently completed the following...
Exercise 5-5
Windsor Company has decided to expand its operations. The
bookkeeper recently completed the following balance sheet in order
to obtain additional funds for expansion.
WINDSOR COMPANY
BALANCE SHEET
FOR THE YEAR ENDED 2020
Current assets
Cash
$232,000
Accounts receivable (net)
342,000
Inventory (lower-of-average-cost-or-market)
403,000
Equity investments (marketable)-at cost (fair value
$122,000)
142,000
Property, plant, and equipment
Buildings (net)
572,000
Equipment (net)
162,000
Land held for future use
177,000
Intangible assets
Goodwill
82,000
Cash surrender value of life insurance...
Required: 1. What is the amount of Apple’s accounts receivable as of September 30, 2017? 2....
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
CASE 1-5 Financial Statement Ratio Computation Refer to Campbell Soup Company's financial Campbell Soup statements in...
CASE 1-5 Financial Statement Ratio Computation Refer to Campbell Soup Company's financial Campbell Soup statements in Appendix A. Required: Compute the following ratios for Year 11. Liquidity ratios: Asset utilization ratios:* a. Current ratio n. Cash turnover b. Acid-test ratio 0. Accounts receivable turnover c. Days to sell inventory p. Inventory turnover d. Collection period 4. Working capital turnover Capital structure and solvency ratios: 1. Fixed assets turnover e. Total debt to total equity s. Total assets turnover f. Long-term...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
350 8) Kaniper Company has the following balances at December 31, 2017 Cash in checking account $15,000 Petty cash 250 Check from customer dated 01/31/2018 Certificates of Deposits, maturing in 1-5 years 250,000 US Treasury bill purchased 12/1/2017, maturing 2/20/2018 40,000 US Treasury bill purchased 3/1/2017, maturing 1/20/2018 36,000 Cash in bond sinking fund account 60,000 Kaniper's policy is to treat as cash equivalents all highly liquid investments with a maturity of three months or less when purchased. What amount...
8) Kaniper Company has the following balances at December 31, 2017 Cash in checking account $15,000 Petty cash 250 Check from customer dated 01/31/2018 350 Certificates of Deposits, maturing in 1-5 years 250,000 US Treasury bill purchased 12/1/2017, maturing 2/20/2018 40,000 US Treasury bill purchased 3/1/2017, maturing 1/20/2018 36,000 Cash in bond sinking fund account 60,000 Kaniper's policy is to treat as cash equivalents all highly liquid investments with a maturity of three months or less when purchased. What amount...
Problem 5-7 Bramble Inc. had the following balance sheet at December 31, 2019. Cash Accounts receivable Investments Plant assets (net) Land BRAMBLE INC. BALANCE SHEET DECEMBER 31, 2019 $ 22,390 Accounts payable 23,590 Bonds payable 32,000 Common stock 83,390 Retained earnings 42,390 $203,760 $ 32,390 43,390 102,390 25,590 $203,760 During 2020, the following occurred. 1. 2. 3. 4. 5. 6. 7. Bramble liquidated its available-for-sale debt investment portfolio at a loss of $7,390. A tract of land was purchased for...
Bramble Company has the following stockholders’ equity accounts
at December 31, 2017. Common Stock ($100 par value, authorized
8,600 shares) $455,900 Retained Earnings 311,600 Prepare entries in
journal form to record the following transactions, which took place
during 2018. (Credit account titles are automatically indented when
amount is entered. Do not indent manually. If no entry is required,
select "No Entry" for the account titles and enter 0 for the
amounts.) (1) 300 shares of outstanding stock were purchased at...
Exercise 5-5 Stellar Company has decided to expand its operations. The bookkeeper recently completed the following balance sheet in order to obtain additional funds for expansion. $235,500 345,500 406,500 145,500 575,500 165,500 180,500 STELLAR COMPANY BALANCE SHEET FOR THE YEAR ENDED 2020 Current assets Cash Accounts receivable (net) Inventory (lower-of-average-cost-or-market) Equity investments (marketable)-at cost (fair value $125,500) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Cash surrender value of life insurance Prepaid...
Refer to the following financial statements
and answer the following questions
hints:-
13. cash provided (used) by operating activities, investing
activities, and financing activities. 14. cash-based net income.
15. estimate of uncollectible accounts receivable. 16. calculate
and interpret accounts receivable ratio (most recent and prior
period).
hints:-
2:12 PM Wed Apr 15 39%). A 51.04cdn.com PART II NIKE, Inc. Consolidated Statements of Income in mWors, except per share data) Revenues Cost of sales Gross profit Demand creation expense Operating overhead...
Exercise 5-5
Windsor Company has decided to expand its operations. The
bookkeeper recently completed the following balance sheet in order
to obtain additional funds for expansion.
WINDSOR COMPANY
BALANCE SHEET
FOR THE YEAR ENDED 2020
Current assets
Cash
$232,000
Accounts receivable (net)
342,000
Inventory (lower-of-average-cost-or-market)
403,000
Equity investments (marketable)-at cost (fair value
$122,000)
142,000
Property, plant, and equipment
Buildings (net)
572,000
Equipment (net)
162,000
Land held for future use
177,000
Intangible assets
Goodwill
82,000
Cash surrender value of life insurance...
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
CASE 1-5 Financial Statement Ratio Computation Refer to Campbell Soup Company's financial Campbell Soup statements in Appendix A. Required: Compute the following ratios for Year 11. Liquidity ratios: Asset utilization ratios:* a. Current ratio n. Cash turnover b. Acid-test ratio 0. Accounts receivable turnover c. Days to sell inventory p. Inventory turnover d. Collection period 4. Working capital turnover Capital structure and solvency ratios: 1. Fixed assets turnover e. Total debt to total equity s. Total assets turnover f. Long-term...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
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