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The night manager of Dixie Transportation Servico, who had...
18, and financing activities. This Incomalton would be particularly helpful in assessing the strength of the...
18, and financing activities. This Incomalton would be particularly helpful in assessing the strength of the company's ability to satisfy its obligations as they come due in light of the relatively wenk balance sheet LO2.4 EXERCISE 2.2 Preparing a Balance Sheet The night manager of Willis Transportation Service, who had no accounting background, prepared the following balance sheet for the company at February 28, 2015. The dollar amounts were taken directly from the company accounting records and are correct. However,...
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...
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...
Name: Ziggy - Balance Sheet Ziggy, Inc. Statement of Cash Flows Indirect Method Cash Flows from...
Name: Ziggy - Balance Sheet Ziggy, Inc. Statement of Cash Flows Indirect Method Cash Flows from Operating Activities Change 2010 2009 $ Assets Cash Acct Receivable Inventory Prepaid Exp Land Equipment Accumulated depreciation - equipment Total assets 66,000 (1,000) 37,000 (2,000) (12,000) (15,000) (12,000) $ 88,000 $ 22,000 80,000 81,000 60,000 23,000 8,000 10,000 107,000 119,000 39,000 54,000 (64,000) (52,000) $ 318,000 $ 257,000 Liabilities AP Wages Pay Interest Pay Taxes Pay Notes payable, long term Total liabilities. (14,000) 16,000...
Compute Financial ratios: Price-earnings, Cash Dicidend payot, Debt Ratio, Debt-to-Equity, and Times Interest earned Orange Company...
Compute Financial ratios: Price-earnings, Cash Dicidend payot, Debt Ratio, Debt-to-Equity, and Times Interest earned Orange Company Income Statement For the Years Ended December 31 2013 2012 Net sales (all on account) $ 600,000 $ 520,000 Expenses: Cost of Goods Sold $ 415,000 $ 354,000 Selling and administrative $ 120,800 $ 114,600 Interest Expense $ 7,800 $ 6,000 Income Tax Expense $ 18,000 $ 14,000 Total expenses $ 561,600 $ 488,600 Net Income $ 38,400 $ 31,400 Additional Data: 1. The...
Check my work Pope's Garage had the following accounts and amounts in its financial statements on...
Check my work Pope's Garage had the following accounts and amounts in its financial statements on December 31, 2019. Assume that all balance sheet items reflect account balances at December 31, 2019, and that all income statement items reflect activities that occurred during the year then ended. Accounts receivable Depreciation expense Land Cost of goods sold Retained earnings Cash Equipment Supplies Accounts payable Service revenue Interest expense Common stock Income tax expense Accumulated depreciation Long-term debt Supplies expense Merchandise inventory...
Check my work Some recent financial statements for Earl Grey Golf Corp. follow. 2018 EARL GREY...
Check my work Some recent financial statements for Earl Grey Golf Corp. follow. 2018 EARL GREY GOLF CORP. 2017 and 2018 Statement of Financial Position Assets Liabilities and Owners' Equity 2017 2018 2017 Current assets Current liabilities Cash $ 24,046 $ 24, 255 Accounts payable $ 23,184 Accounts receivable 12,448 15, 235 Notes payable 12,000 Inventory 25,392 27,155 Other 11,571 Total $ 61,886 $ 66, 645 Total $ 46, 755 Long-term debt $ 80,000 Fixed assets Owners' equity Net plant...
NORTH COMPANY Income Statement For the Year Ended December 31, 2019 $770,000 Sales Revenue Cost of...
NORTH COMPANY Income Statement For the Year Ended December 31, 2019 $770,000 Sales Revenue Cost of Goods Sold $550,000 Wages Expense Advertising Expense 195,000 31,000 Depreciation Expense 24,000 Interest Expense 20,000 Gain on Sale of Land (25,000) 795,000 Net Loss $(25,000) NORTH COMPANY Balance Sheets Dec. 31, 2019 Dec. 31, 2018 Assets $32,000 $80,000 Cash 49,000 42,000 Accounts Receivablé 107,000 115,000 Inventory Prepaid Advertising 10,000 14,000 Plant Assets 360,000 210,000 Accumulated Depreciation (80,000) (56,000) Total Assets $519,000 $364,000 Liabilities and...
Prepare a Statement of Cash Flows using the direct method. Use the following information: The following...
Prepare a Statement of Cash Flows using the direct method. Use
the following information:
The following information is available for 2017.
Equipment (cost $10,000 and accumulated depreciation $4,000)
was sold for $7,000. All other changes in Property, Plant and
Equipment accounts relate to purchases and depreciation expense,
respectively.
Intangible Assets costing $10,000 were purchased during
2017.
There were $25,000 in payments on the Bonds Payable during
2017
12/31/2016 Closing Trial Balance 55,000 70,000 (4,000) 80,000 9,000 - Cash Accounts Receivable...
You are the loan officer at Corner Street Community Bank. You received a loan application from...
You are the loan officer at Corner Street Community Bank. You
received a loan application from T.P. Jarmon Company. The first
picture is for financial statements that belong to the most recent
fiscal year(s). The second picture provides financial ratios for
the industry. Analyze these financial statements in terms of
liquidity, profitability and solvency. Give an opinion on whether
you would approve the loan application or not in great detail.
2013 T. P. Jarmon Company, Balance Sheet for 12/31/2012 and...
18, and financing activities. This Incomalton would be particularly helpful in assessing the strength of the company's ability to satisfy its obligations as they come due in light of the relatively wenk balance sheet LO2.4 EXERCISE 2.2 Preparing a Balance Sheet The night manager of Willis Transportation Service, who had no accounting background, prepared the following balance sheet for the company at February 28, 2015. The dollar amounts were taken directly from the company accounting records and are correct. However,...
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...
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...
Name: Ziggy - Balance Sheet Ziggy, Inc. Statement of Cash Flows Indirect Method Cash Flows from Operating Activities Change 2010 2009 $ Assets Cash Acct Receivable Inventory Prepaid Exp Land Equipment Accumulated depreciation - equipment Total assets 66,000 (1,000) 37,000 (2,000) (12,000) (15,000) (12,000) $ 88,000 $ 22,000 80,000 81,000 60,000 23,000 8,000 10,000 107,000 119,000 39,000 54,000 (64,000) (52,000) $ 318,000 $ 257,000 Liabilities AP Wages Pay Interest Pay Taxes Pay Notes payable, long term Total liabilities. (14,000) 16,000...
Check my work Pope's Garage had the following accounts and amounts in its financial statements on December 31, 2019. Assume that all balance sheet items reflect account balances at December 31, 2019, and that all income statement items reflect activities that occurred during the year then ended. Accounts receivable Depreciation expense Land Cost of goods sold Retained earnings Cash Equipment Supplies Accounts payable Service revenue Interest expense Common stock Income tax expense Accumulated depreciation Long-term debt Supplies expense Merchandise inventory...
Check my work Some recent financial statements for Earl Grey Golf Corp. follow. 2018 EARL GREY GOLF CORP. 2017 and 2018 Statement of Financial Position Assets Liabilities and Owners' Equity 2017 2018 2017 Current assets Current liabilities Cash $ 24,046 $ 24, 255 Accounts payable $ 23,184 Accounts receivable 12,448 15, 235 Notes payable 12,000 Inventory 25,392 27,155 Other 11,571 Total $ 61,886 $ 66, 645 Total $ 46, 755 Long-term debt $ 80,000 Fixed assets Owners' equity Net plant...
NORTH COMPANY Income Statement For the Year Ended December 31, 2019 $770,000 Sales Revenue Cost of Goods Sold $550,000 Wages Expense Advertising Expense 195,000 31,000 Depreciation Expense 24,000 Interest Expense 20,000 Gain on Sale of Land (25,000) 795,000 Net Loss $(25,000) NORTH COMPANY Balance Sheets Dec. 31, 2019 Dec. 31, 2018 Assets $32,000 $80,000 Cash 49,000 42,000 Accounts Receivablé 107,000 115,000 Inventory Prepaid Advertising 10,000 14,000 Plant Assets 360,000 210,000 Accumulated Depreciation (80,000) (56,000) Total Assets $519,000 $364,000 Liabilities and...
Prepare a Statement of Cash Flows using the direct method. Use
the following information:
The following information is available for 2017.
Equipment (cost $10,000 and accumulated depreciation $4,000)
was sold for $7,000. All other changes in Property, Plant and
Equipment accounts relate to purchases and depreciation expense,
respectively.
Intangible Assets costing $10,000 were purchased during
2017.
There were $25,000 in payments on the Bonds Payable during
2017
12/31/2016 Closing Trial Balance 55,000 70,000 (4,000) 80,000 9,000 - Cash Accounts Receivable...
You are the loan officer at Corner Street Community Bank. You
received a loan application from T.P. Jarmon Company. The first
picture is for financial statements that belong to the most recent
fiscal year(s). The second picture provides financial ratios for
the industry. Analyze these financial statements in terms of
liquidity, profitability and solvency. Give an opinion on whether
you would approve the loan application or not in great detail.
2013 T. P. Jarmon Company, Balance Sheet for 12/31/2012 and...
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