Homework Answers
89) Answer is A) 0.60
debt to equity ratio = total liabilities / total equity
= 610,000 / 1,019,000
= 0.60
90) Answer is D) 1.87
Equity multiplier = total assets / total shareholder' equity
= 1,253,000 / 667,000
= 1.87
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Year 1 $ $ 209,000 89) A portion of Lapore Corporation's Balance Sheet appears bei Year 2 Liabilities and Stockhold...
A portion of Lapore Corporation’s Balance Sheet appears below: Liabilities and Stockholders' Equity Year 2 Year...
A portion of Lapore Corporation’s Balance Sheet appears below: Liabilities and Stockholders' Equity Year 2 Year 1 Current liabilities: Accounts payable $ 209,000 $ 200,000 Accrued liabilities 27,000 30,000 Notes payable, short term 94,000 90,000 Total current liabilities 330,000 320,000 Bonds payable 280,000 280,000 Total liabilities 610,000 600,000 Stockholders' equity: Common stock, $4 par value 360,000 360,000 Additional paid-in capital 70,000 70,000 Retained earnings 589,000 570,000 Total stockholders' equity 1,019,000 1,000,000 Total liabilities & stockholders' equity $ 1,629,000 $ 1,600,000...
Hirshberg Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Hirshberg Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 42,000 $ 31,000 Accounts receivable 22,000 18,000 Inventory 66,000 70,000 Total current assets 130,000 119,000 Property, plant, and equipment 401,000 377,000 Less accumulated depreciation 207,000 177,000 Net property, plant, and equipment 194,000 200,000 Total assets $ 324,000 $ 319,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 15,000 $ 17,000 Accrued liabilities 45,000 38,000 Income taxes payable...
Financial data for Guyer Corporation, for last year follow: Guyer Corporation Balance Sheet Beginning Ending Balance...
Financial data for Guyer Corporation, for last year follow: Guyer Corporation Balance Sheet Beginning Ending Balance Balance Assets Cash $ 140,000 $ 120,000 Accounts receivable 450,000 530,000 Inventory 320,000 380,000 Plant and equipment, net 680,000 660,000 Investment in ABC, Inc. 250,000 280,000 Land (undeveloped) 180,000 170,000 Total assets $2,020,000 $2,140,000 Liabilities and Stockholders' Equity Accounts payable $ 360,000 $ 310,000 Long-term debt 1,500,000 1,500,000 Stockholders' equity 160,000 330,000 Total liabilities and stockholders' $2,020,000 $2,140,000 equity $4,050,000 3,640,000 Guyer Corporation Income...
Carriveau Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Beginning Balance Balance $...
Carriveau Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Beginning Balance Balance $ 31 73 Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment 74 178 456 207 249 $427 $ 34 67 64 165 370 196 174 $339 Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities...
Freiman Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...
Freiman Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: $ 174 $ 134 Cash Accounts receivable, net 255 275 Inventory 134 144 Prepaid expenses 47 47 Total current assets 600 610 Plant and equipment, net 770 770 $1,380 $1,370 Total assets Liabilities and Stockholders' Equity Current liabilities: 144 164 Accounts payable Accrued liabilities 97 97 Notes payable, short...
Hocking Corporation's comparative balance sheet appears below: Hocking Corporation Comparative Balance Sheet Ending Balance Beginning Balance...
Hocking Corporation's comparative balance sheet appears below: Hocking Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets Current assets Cash and cash equivalents Accounts recelvable Inventory Prepald expenses Total current assets Property, plant, and equipment Less accumulated depreclation Net property, plant, and equipment Total assets Liabilities and stockholders' equity Current liablities Accounts payable Accrued llabllitles Income taxes payable Total current llabllitles Bonds payable Total llabilitles Stockholders' equity Common stock Retalned earnings Total stockholders' equity Total liablities and stockholders' equity $35,000...
Freiman Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...
Freiman Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 160 $ 120 Accounts receivable, net 220 240 Inventory 120 130 Prepaid expenses 40 40 Total current assets 540 530 Plant and equipment, net 700 700 Total assets $ 1,240 $ 1,230 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 130 $ 150 Accrued liabilities 90...
73) Macmillan Corporation has provided the following financial data: Year 1 $ Balance Sheet December 31, Yea...
73) Macmillan Corporation has provided the following financial data: Year 1 $ Balance Sheet December 31, Year 2 and Year 1 Assets Year 2 Current assets: $ 156,000 Cash 268,000 Accounts receivable, net 146,000 Inventory 20,000 Prepaid expenses 120,000 280,000 130,000 20,000 550,000 760,000 590,000 732,000 $ 1,322,000 $ 1,310,000 Total current assets Plant and equipment, net Total assets 45 $ $ 175,000 46,000 80.000 301,000 190,000 491,000 180,000 50,000 80,000 310,000 190.000 500.000 Liabilities and Stockholders' Equity Current liabilities:...
Buckley Corporation's most recent comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance...
Buckley Corporation's most recent comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 19 $ 20 Accounts receivable 26 27 Inventory 56 51 Property, plant, and equipment 686 550 Less accumulated depreciation 430 363 Total assets $ 357 $ 285 Liabilities and stockholders' equity: Accounts payable $ 30 $ 34 Bonds payable 43 40 Common stock 54 50 Retained earnings 230 161 Total liabilities and stockholders' equity $ 357 $ 285...
Buckley Corporation's most recent comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance...
Buckley Corporation's most recent comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 19 $ 20 Accounts receivable 26 27 Inventory 56 51 Property, plant, and equipment 686 550 Less accumulated depreciation 430 363 Total assets $ 357 $ 285 Liabilities and stockholders' equity: Accounts payable $ 30 $ 34 Bonds payable 43 40 Common stock 54 50 Retained earnings 230 161 Total liabilities and stockholders' equity $ 357 $ 285...
Financial data for Guyer Corporation, for last year follow: Guyer Corporation Balance Sheet Beginning Ending Balance Balance Assets Cash $ 140,000 $ 120,000 Accounts receivable 450,000 530,000 Inventory 320,000 380,000 Plant and equipment, net 680,000 660,000 Investment in ABC, Inc. 250,000 280,000 Land (undeveloped) 180,000 170,000 Total assets $2,020,000 $2,140,000 Liabilities and Stockholders' Equity Accounts payable $ 360,000 $ 310,000 Long-term debt 1,500,000 1,500,000 Stockholders' equity 160,000 330,000 Total liabilities and stockholders' $2,020,000 $2,140,000 equity $4,050,000 3,640,000 Guyer Corporation Income...
Carriveau Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Beginning Balance Balance $ 31 73 Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment 74 178 456 207 249 $427 $ 34 67 64 165 370 196 174 $339 Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities...
Freiman Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: $ 174 $ 134 Cash Accounts receivable, net 255 275 Inventory 134 144 Prepaid expenses 47 47 Total current assets 600 610 Plant and equipment, net 770 770 $1,380 $1,370 Total assets Liabilities and Stockholders' Equity Current liabilities: 144 164 Accounts payable Accrued liabilities 97 97 Notes payable, short...
Hocking Corporation's comparative balance sheet appears below: Hocking Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets Current assets Cash and cash equivalents Accounts recelvable Inventory Prepald expenses Total current assets Property, plant, and equipment Less accumulated depreclation Net property, plant, and equipment Total assets Liabilities and stockholders' equity Current liablities Accounts payable Accrued llabllitles Income taxes payable Total current llabllitles Bonds payable Total llabilitles Stockholders' equity Common stock Retalned earnings Total stockholders' equity Total liablities and stockholders' equity $35,000...
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