Homework Answers
The answer is as follows:
Chart of accounts is a list of the accounts that a company has identified for recording transactions. A company can change its chart of accounts according to its needs, including adding accounts as needed.
Normally, the list of accounts in the chart are shown in the order as they apper in the financial statetments. Hence, the order will be firstly balance sheet accounts, secondly shareholder's equity and next the accounts shown in the income statement.
Thus, the proper sequnce of accounts listed in the chart of accounts is Assets, Liabilities, Equity, Revenue, Expenses.
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1) What is the proper sequence for accounts listed in the chart of accounts? Put them...
Lesson 2: Financial Statements 1) What is the proper sequence for accounts listed in the chart...
Lesson 2: Financial Statements 1) What is the proper sequence for accounts listed in the chart of accounts? Put them in order. Revenue, Assets, Expenses, Equity, Liabilities 9.09 Points Saved 1. Liabilities 2. Revenue 3. Expenses 4. Assets 5. Equity Current Assets $1020834 Total Assets $1867680 Current Liabilities $ 376178 Total Liabilites $527216 Net Income $400019 Net Cash Provided by Operating Activities $464270 Capital Expenditures $250407 Dividends paid on Common Stock $80796 Weighted Avg shares Outstanding $216119 Please use the...
For each year listed in Exhibit 1 (2009 – 2014), calculate the following ratios: Bakery-Café Cost...
For each year listed in Exhibit 1
(2009 – 2014), calculate the following ratios:
Bakery-Café Cost of Sales (formula: Bakery-Café
Expenses/Bakery-Café Sales)
Operating Profit Margin (Operating Profit/Total Revenues)
G&A as a percent of Total Revenues
Net Income Margin (Net Income to shareholders/Total
Revenues)
Return on Equity (Net Income to Shareholders/Total
Stockholder’s Equity)
Return on Assets (Net Income to Shareholders/Total Assets)
Debt-to-Assets (Total Liabilities/Total Assets)
Debt-to-Equity (Total Liabilities/Total Stockholder’s
Equity)
Current Ratio (Current Assets/Current Liabilities)
Note: 2010 is missing from the...
Exercise 128 Use the following data to calculate the liquidity and profitability ratios listed below. Average...
Exercise 128 Use the following data to calculate the liquidity and profitability ratios listed below. Average common shares outstanding Capital expenditures Cash provided by operating activities Dividends paid Current assets 10,000 Current liabilities $20,000 Net income 32,000 Net sales 5,000 Total liabilities 190,000 Total assets $100,000 21,000 150,000 126,000 210,000 Compute the following: (Round current ratio to I decimal places, e.g. 1.5:1 and earnings per share to 2 decimal places, e.g. $2.51.) (a) Current ratio (b) Working capital (c) Earnings...
acct hw help QUESTION 30 At December 1, 2014, Orear Company's Accounts Receivable balance was $4,500....
acct hw help
QUESTION 30 At December 1, 2014, Orear Company's Accounts Receivable balance was $4,500. During December, Orear had credit sales of $20,000 and collected accounts receivable of $14,000. At December 31, 2014, the Accounts Receivable balance is $10,500 debit $4,500 debit $24,500 debit $9,500 credit QUESTION 31 Using the following balance sheet and income statement data, what is the debt to assets ratio? Current assets $ 14,000 Net Income $ 21,000 Current liabilities 8.000 Stockholders' equity 60,000 Total...
The chart of accounts usually lists a company's accounts in what order? assets, liabilities, shareholders' equity,...
The chart of accounts usually lists a company's accounts in what order? assets, liabilities, shareholders' equity, expenses, revenue assets, revenues, expenses, liabilities, shareholders' equity assets, liabilities, shareholders' equity, revenues, expenses O assets, liabilities, revenues, expenses, shareholders' equity
Question 7 1 pts Which of the following accounts listed on American Eagle's balance sheet likely...
Question 7 1 pts Which of the following accounts listed on American Eagle's balance sheet likely required adjusting entries at the balance sheet date? (select all that apply) Prepaid expenses Accrued compensation and payroll taxes Accumulated amortization of intangibles Accumulated depreciation for property and equipment Feb. 02, 2019 $333,330 92,135 424,404 93,477 102,907 1,046,253 742,149 58,167 14,062 42,747 1,903,378 240,671 Consolidated Balance Sheets - USD ($) Feb. 01, 2020 $ in Thousands Current assets: Cash and cash equivalents $361,930 Short-term...
The accounts receivable balance on the balance sheet should be ‘net of allowance for doubtful accounts’....
The accounts receivable balance on the balance sheet should be
‘net of allowance for doubtful accounts’. Resulting in a net
balance of $100,000. Total assists and total liabilities plus
equity balances should equal $810,000.
Problem 1 (Textbook Reference: Pl-4A)-Financial Accounting Review Problem The Homer Company uses the perpetual inventory procedure. The 2013 balance sheet of the Homer Company is as follows Homer Company Balance Sheet December 31, 2013 Assets Current Assets: Cash Accounts receivable, net Inventory Prepaid Expenses S 60,000...
Anyone know these values and can explain how to get them? Problem 2-6A Condensed balance sheet...
Anyone know these values and can explain how to get them?
Problem 2-6A Condensed balance sheet and income statement data for Sheffield Corp. are presented as follows Sheffield Corp Balance Sheets December 31 Assets Cash Receivables (net) Other current assets Long-term investments Property, plant, and equipment (net) Total assets Liabilities and Stockholder Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity 2017 2016 83,300 103,300 62,000 523,300 $803,040 $31,140 23,140 75,300 86,300 60,000 483,300 728,040 s'...
Arrange the following items in proper balance sheet presentation: (Amounts to be deducted should be indicated...
Arrange the following items in proper balance sheet presentation: (Amounts to be deducted should be indicated with parentheses or a minus sign.) Accumulated depreciation $ 391,000 Retained earnings 35,000 Cash 19,000 Bonds payable 174,000 Accounts receivable 49,000 Plant and equipment—original cost 741,000 Accounts payable 37,000 Allowance for bad debts 6,000 Common stock, $1 par, 100,000 shares outstanding 100,000 Inventory 68,000 Preferred stock, $54 par, 1,000 shares outstanding 54,000 Marketable securities 21,000 Investments 27,000 Notes payable 36,000 Capital paid in...
QUESTION 15 Match each of the following accounts with its proper account group from groups listed...
QUESTION 15 Match each of the following accounts with its proper account group from groups listed below. Unearned Rent Prepaid Insurance Fees Earned a. Assets b. Liabilities c. Stockholders' Equity d. Revenue e. Expenses Patents Dividends QUESTION 16 Match the following items to the financial statement where they can be found. (Hint: Some of the items can be found on more Click Save and Submit to save and submit. Click Save All Answers to save all answers.
Lesson 2: Financial Statements 1) What is the proper sequence for accounts listed in the chart of accounts? Put them in order. Revenue, Assets, Expenses, Equity, Liabilities 9.09 Points Saved 1. Liabilities 2. Revenue 3. Expenses 4. Assets 5. Equity Current Assets $1020834 Total Assets $1867680 Current Liabilities $ 376178 Total Liabilites $527216 Net Income $400019 Net Cash Provided by Operating Activities $464270 Capital Expenditures $250407 Dividends paid on Common Stock $80796 Weighted Avg shares Outstanding $216119 Please use the...
For each year listed in Exhibit 1
(2009 – 2014), calculate the following ratios:
Bakery-Café Cost of Sales (formula: Bakery-Café
Expenses/Bakery-Café Sales)
Operating Profit Margin (Operating Profit/Total Revenues)
G&A as a percent of Total Revenues
Net Income Margin (Net Income to shareholders/Total
Revenues)
Return on Equity (Net Income to Shareholders/Total
Stockholder’s Equity)
Return on Assets (Net Income to Shareholders/Total Assets)
Debt-to-Assets (Total Liabilities/Total Assets)
Debt-to-Equity (Total Liabilities/Total Stockholder’s
Equity)
Current Ratio (Current Assets/Current Liabilities)
Note: 2010 is missing from the...
Exercise 128 Use the following data to calculate the liquidity and profitability ratios listed below. Average common shares outstanding Capital expenditures Cash provided by operating activities Dividends paid Current assets 10,000 Current liabilities $20,000 Net income 32,000 Net sales 5,000 Total liabilities 190,000 Total assets $100,000 21,000 150,000 126,000 210,000 Compute the following: (Round current ratio to I decimal places, e.g. 1.5:1 and earnings per share to 2 decimal places, e.g. $2.51.) (a) Current ratio (b) Working capital (c) Earnings...
acct hw help
QUESTION 30 At December 1, 2014, Orear Company's Accounts Receivable balance was $4,500. During December, Orear had credit sales of $20,000 and collected accounts receivable of $14,000. At December 31, 2014, the Accounts Receivable balance is $10,500 debit $4,500 debit $24,500 debit $9,500 credit QUESTION 31 Using the following balance sheet and income statement data, what is the debt to assets ratio? Current assets $ 14,000 Net Income $ 21,000 Current liabilities 8.000 Stockholders' equity 60,000 Total...
The chart of accounts usually lists a company's accounts in what order? assets, liabilities, shareholders' equity, expenses, revenue assets, revenues, expenses, liabilities, shareholders' equity assets, liabilities, shareholders' equity, revenues, expenses O assets, liabilities, revenues, expenses, shareholders' equity
Question 7 1 pts Which of the following accounts listed on American Eagle's balance sheet likely required adjusting entries at the balance sheet date? (select all that apply) Prepaid expenses Accrued compensation and payroll taxes Accumulated amortization of intangibles Accumulated depreciation for property and equipment Feb. 02, 2019 $333,330 92,135 424,404 93,477 102,907 1,046,253 742,149 58,167 14,062 42,747 1,903,378 240,671 Consolidated Balance Sheets - USD ($) Feb. 01, 2020 $ in Thousands Current assets: Cash and cash equivalents $361,930 Short-term...
The accounts receivable balance on the balance sheet should be
‘net of allowance for doubtful accounts’. Resulting in a net
balance of $100,000. Total assists and total liabilities plus
equity balances should equal $810,000.
Problem 1 (Textbook Reference: Pl-4A)-Financial Accounting Review Problem The Homer Company uses the perpetual inventory procedure. The 2013 balance sheet of the Homer Company is as follows Homer Company Balance Sheet December 31, 2013 Assets Current Assets: Cash Accounts receivable, net Inventory Prepaid Expenses S 60,000...
Anyone know these values and can explain how to get them?
Problem 2-6A Condensed balance sheet and income statement data for Sheffield Corp. are presented as follows Sheffield Corp Balance Sheets December 31 Assets Cash Receivables (net) Other current assets Long-term investments Property, plant, and equipment (net) Total assets Liabilities and Stockholder Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity 2017 2016 83,300 103,300 62,000 523,300 $803,040 $31,140 23,140 75,300 86,300 60,000 483,300 728,040 s'...
QUESTION 15 Match each of the following accounts with its proper account group from groups listed below. Unearned Rent Prepaid Insurance Fees Earned a. Assets b. Liabilities c. Stockholders' Equity d. Revenue e. Expenses Patents Dividends QUESTION 16 Match the following items to the financial statement where they can be found. (Hint: Some of the items can be found on more Click Save and Submit to save and submit. Click Save All Answers to save all answers.
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