Homework Answers
Solution:
Debit financing was recorded in the following manner:
Cash increase = $100,000
Notes payable increase = $100,000
Hence option C is correct.
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+ 2. After 27 loans rejections, John family took equity loan on their house $100,000 and...
3. After transferring his house into mini factory Daymond and his team were able to fulfill...
3. After transferring his house into mini factory Daymond and his team were able to fulfill $75,000 worth of orders, that means $75,000 worth of apparel were shipped to the retailers. Daymond also mentioned that "it took 30,60, 90 days" for stores to pay FUBU. That is typical for B to B (Business to Business) to operate on credit. What journal entry did FUBU make on the day it shipped $75,000 worth of apparel to retailers? Assets Liabilities Stockholders' Equity...
After transferring his house into "mini factory" Daymond and his team were able to fulfill $75,000...
After transferring his house into "mini factory" Daymond and his team were able to fulfill $75,000 worth of orders, that means $75,000 worth of apparel were shipped to the retailers. Daymond also mentioned that "it took 30,60, 90 days" for stores to pay FUBU. That is typical for B to B (Business to Business) to operate on credit. What journal entry did FUBU make on the day it shipped $75,000 worth of apparel to retailers? Stockholders' Equity Revenue Expense Retained...
Daymond John grew up in the heart of hip-hop culture: Hollis, Queens. In his early 20s,...
Daymond John grew up in the heart of hip-hop culture: Hollis, Queens. In his early 20s, as many of you, he was working as a waiter at the restaurant (Red Lobster) and trying to figure out how to start a business. Eventually, he stumbled on the idea of making clothes for fans of rap music. In 1992, he started FUBU (For Us By Us) and began selling hats outside of a local mall. Three years later, FUBU was bringing in...
Use Wal-Mart's financial statements to compute the following ratios (20-31) for the year ended January 31,...
Use Wal-Mart's financial statements to compute the following ratios (20-31) for the year ended January 31, 2013. 20. Current ratio А. 83 В. .97 C 65 D. 50 21. Acid-test (quick) ratio A. .10 В. .15 С. 20 D. 25 22. Accounts receivable turnover A. 65.10 times B. 69.90 times C. 73.85 times D. 78.93 times 23. Inventory turnover A. 5.45 times B. 6.87 times C. 7.16 times D. 8.34 times 24. Profit margin A. 2.75% B. 3.62% C. 4.18%...
i need help with the bottom half of the balance sheet Diary of activities Jan. 1st,...
i
need help with the bottom half of the balance sheet
Diary of activities Jan. 1st, 2018 Jan. 15th, 2018 We collected $100,000 in total from the whole class (some rich students!) We borrowed $200,000 from a local bank (the term is 30 years) We bought an office space for $150,000 We bought office equipment for $10,000 We bought supplies for $6,000 but only paid half of them ($3,000) in cash the other half is on credit. We have hired...
Need help with b,c and d. A30 fx III. A B с 78 79 TOTAL LIABILITIES...
Need help with b,c and d.
A30 fx III. A B с 78 79 TOTAL LIABILITIES 80 81 b) In the next 3 months the following accounting events happened to the company (the VAT is 25% in each 82 event wherever it is possible). Record the accounting events in the books! (24p) 83 84 85 86 1. The owners opened a bank account and paid 300.000 K HUF in as a startup capital to launch the business. 87 88 2....
Question (5) Directions: Click the "Case-link" displayed above and use the information provided in Hearth and...
Question (5) Directions: Click the "Case-link" displayed above and use the information provided in Hearth and Home, Parts A and B, to answer this question: In a downside-case scenario, you assume that a recession slows housing starts by 30 percent. If so, which of the following hypotheses would be the most reasonable? O Cost of goods sold and SG&A expenses both decrease as percentages of sales O Gross profit margin decreases and SG&A expenses decrease as percentages of sales OInventory...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for each year Round to two decimal places 1.50 and 107, 11.35 and 1.50 respectively respectively 1.07 and 1.19. 1.1.19 and 1.35 respectively respectively The liabilities and stockholder's equity of a company are $132,000 and $244.000, respectively. Assets should equal SS188.00 $132.00 p $376,00 12.000 A financial statement...
I have already made the adjusting journal entries and have updated all the other revised financial...
I have already made the adjusting journal entries and have
updated all the other revised financial statements using the
quantitative information from the original financial statements.
Now, I need help updating the Revised Statement of Cash flows for
Year ended December 31, 2017 that is located at the very bottom
using all the quantitative information from all the revised
financial statements prior to the Revised Statement of Cash Flows
for Year ended December 31, 2017.
A B C D E...
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...
3. After transferring his house into mini factory Daymond and his team were able to fulfill $75,000 worth of orders, that means $75,000 worth of apparel were shipped to the retailers. Daymond also mentioned that "it took 30,60, 90 days" for stores to pay FUBU. That is typical for B to B (Business to Business) to operate on credit. What journal entry did FUBU make on the day it shipped $75,000 worth of apparel to retailers? Assets Liabilities Stockholders' Equity...
After transferring his house into "mini factory" Daymond and his team were able to fulfill $75,000 worth of orders, that means $75,000 worth of apparel were shipped to the retailers. Daymond also mentioned that "it took 30,60, 90 days" for stores to pay FUBU. That is typical for B to B (Business to Business) to operate on credit. What journal entry did FUBU make on the day it shipped $75,000 worth of apparel to retailers? Stockholders' Equity Revenue Expense Retained...
Daymond John grew up in the heart of hip-hop culture: Hollis, Queens. In his early 20s, as many of you, he was working as a waiter at the restaurant (Red Lobster) and trying to figure out how to start a business. Eventually, he stumbled on the idea of making clothes for fans of rap music. In 1992, he started FUBU (For Us By Us) and began selling hats outside of a local mall. Three years later, FUBU was bringing in...
Use Wal-Mart's financial statements to compute the following ratios (20-31) for the year ended January 31, 2013. 20. Current ratio А. 83 В. .97 C 65 D. 50 21. Acid-test (quick) ratio A. .10 В. .15 С. 20 D. 25 22. Accounts receivable turnover A. 65.10 times B. 69.90 times C. 73.85 times D. 78.93 times 23. Inventory turnover A. 5.45 times B. 6.87 times C. 7.16 times D. 8.34 times 24. Profit margin A. 2.75% B. 3.62% C. 4.18%...
i
need help with the bottom half of the balance sheet
Diary of activities Jan. 1st, 2018 Jan. 15th, 2018 We collected $100,000 in total from the whole class (some rich students!) We borrowed $200,000 from a local bank (the term is 30 years) We bought an office space for $150,000 We bought office equipment for $10,000 We bought supplies for $6,000 but only paid half of them ($3,000) in cash the other half is on credit. We have hired...
Need help with b,c and d.
A30 fx III. A B с 78 79 TOTAL LIABILITIES 80 81 b) In the next 3 months the following accounting events happened to the company (the VAT is 25% in each 82 event wherever it is possible). Record the accounting events in the books! (24p) 83 84 85 86 1. The owners opened a bank account and paid 300.000 K HUF in as a startup capital to launch the business. 87 88 2....
Question (5) Directions: Click the "Case-link" displayed above and use the information provided in Hearth and Home, Parts A and B, to answer this question: In a downside-case scenario, you assume that a recession slows housing starts by 30 percent. If so, which of the following hypotheses would be the most reasonable? O Cost of goods sold and SG&A expenses both decrease as percentages of sales O Gross profit margin decreases and SG&A expenses decrease as percentages of sales OInventory...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for each year Round to two decimal places 1.50 and 107, 11.35 and 1.50 respectively respectively 1.07 and 1.19. 1.1.19 and 1.35 respectively respectively The liabilities and stockholder's equity of a company are $132,000 and $244.000, respectively. Assets should equal SS188.00 $132.00 p $376,00 12.000 A financial statement...
I have already made the adjusting journal entries and have
updated all the other revised financial statements using the
quantitative information from the original financial statements.
Now, I need help updating the Revised Statement of Cash flows for
Year ended December 31, 2017 that is located at the very bottom
using all the quantitative information from all the revised
financial statements prior to the Revised Statement of Cash Flows
for Year ended December 31, 2017.
A B C D E...
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...
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