The VASCO Engineering Company just completed their fiscal year and are preparing their financial statements. Use the following information to create a Balance Sheet for the VASCO.
Homework Answers
Balance sheet is statement which is prepared at the end of year.It shows the position of assets and liabilities of business at point of time.
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The VASCO Engineering Company just completed their fiscal year and are preparing their financial statements. Use...
Use the appropriate items from the following list to prepare the income statement for DEF Inc....
Use the appropriate items from the following list to prepare the income statement for DEF Inc. (Ended July 31st 2010) Item Value($000) Accounts receivable $350 Cost of goods sold 285 Amortization expense 55 General and administrative expense 60 Interest expense 25 Preferred share dividends 10 Sales revenue 525 Selling expense 35 Common shares 265 Retained earnings 325 Tax rate 40% Use the appropriate items from the following list to prepare XYZ company’s balance sheet at July 31, 2011 Item Value...
Using the tables (pictured) below, conduct a complete ratio analysis of the Bartlett Company for the...
Using the tables (pictured) below, conduct a complete ratio
analysis of the Bartlett Company for the years 2018 and 2019. You
should assess the firm’s liquidity, activity, debt, and
profitability ratios. Highlight any particularly positive or
negative developments that you uncover when comparing ratios from
2018 to 2019.
Bartlett Company Income Statements ($000) For the Years Ended December 31 2019 2018 Sales revenue $3,080 $2,590 Less: Cost of goods sold 2,086 1,705 Gross profits $994 $885 Less: Operating expenses Selling...
Below are the statements of financial position of ABC Ltd for the financial year ending 31...
Below are the statements of financial position of ABC Ltd for the financial year ending 31 December 2019 and 2018 together with additional information related to other events in the 31 December 2019 financial year. ABC Balance Sheet as at 31 December 2019 2019 2018 Assets Cash Accounts receivables Inventory Prepaid expenses Long-term investments Land Buildings and equipment Accumulated depreciation TOTAL ASSETS 30 000 410 000 300 000 20 000 50 000 560 000 2 000 000 -800 000 2...
Using the account titles listed below, create these financial statements for EXAMPLE COMPANY for the year...
Using the account titles listed below, create these financial statements for EXAMPLE COMPANY for the year ended December 31, XXXX: income statement, statement of retained earnings, and balance sheet. Please prepare your answers in a spreadsheet that you create, using proper spreadsheet techniques. You don't need to add numbers. Account Title Account Payable Account Receivable Accumulated Depreciation - Building Accumulated Depreciation - Office Equipment Accumulated Depreciation - Store Fixtures Administration Salaries Expense Advertising expense Allowance for Doubtful Accounts Beginning Retained...
ENGR 314 SPRING 2019-HOMEWORK NO.2-FINANCIAL STATEMENTS Financial Statements 2.1 Consider the balance-sheet entries for War Eagle...
ENGR 314 SPRING 2019-HOMEWORK NO.2-FINANCIAL STATEMENTS Financial Statements 2.1 Consider the balance-sheet entries for War Eagle Corporation in Table P2.1 (a) Compute the firm's Current assets: S Current liabilities: S Working capital: S Shareholders' equity: S TABLE P2.1 Balance Sheet Statement as of December 31, 2015 Assets Cash Marketable securities Accounts receivable Inventories Prepaid taxes and insurance Manufacturing plant at cost Less accumulated depreciation Net fixed assets Goodwill s 150,000 200,000 150,000 50,000 30,000 600,000 00,000 500,000 20,000 TABLE P2.1...
NC Use the information below for the MAX& ARIEL Company to prepare the company's financial statements...
NC Use the information below for the MAX& ARIEL Company to prepare the company's financial statements for the year ended 12-31-18. Use good form! PLEASE COMPLETE THE HEADINGs: S4,000 500 4,500 1,500 6,000 1,000 1,500 10,500 3,500 45,000 (2,000) S3,500 34,000 Marketable Securities Land Advertising expense Cash Accounts payable Machinery Service Revenue Prepaid insurance Common (capital) Stock Salaries expense Accumulated depreciation Treasury Stock Unearned revenue Insurance expense Retained earnings 1-1-18 Supplies on hand Dividends Taxes payable Rent expense Accounts Receivable...
$10,006,000 7505000 $2,501,000 Given the following financial statements Sterling Company Income Statement for the Year Ended...
$10,006,000 7505000 $2,501,000 Given the following financial statements Sterling Company Income Statement for the Year Ended December 31, 2015 Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Selling expense General and administrative expenses Lease expense Depreciation expense Total operating expense Operating profits Less: Interest expense Net profits before taxes Less: Taxes (rate=40%) Net profits after taxes Less: Preferred stock dividends Earnings available for common stockholders Earnings per share (EPS) $293,000 635000 48200 192000 1168200 $1,332,800 212000...
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate...
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. Employees earned $2,900 in salaries that will be paid next month. The Salaries Expense unadjusted balance as of December 31 is $5,700. Adjustment Type: Salaries Expense Salaries Payable November 1 of the current year, Record the transaction for the year ended December 31 Adjustment Type: Insurance Expense...
Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, Year 1,...
Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, Year 1, were as follows: Record on journal page 10: Jan. 3 Issued 15,000 shares of $20 par common stock at $30, receiving cash. Feb. 15 Issued 4,000 shares of $80 par preferred 5% stock at $100, receiving cash. May 1 Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. 16 Declared a quarterly dividend of $0.50 per share on common stock and...
Based on your financial statements for Business Solutions answer the following questions: Does Business Solutions have...
Based on your financial statements for Business Solutions answer the following questions: Does Business Solutions have enough cash to pay its liabilities? Please list the amounts and the overage amount or shortfall. Does Business Solutions need to improve this situation? If not, please describe what they are doing correctly, if so, please describe how they may improve. Business Solutions Unadjusted Trial Balance Adjusted Trial Balance | Post-Closing Trial Balance Credit Credit Credit Debit 52 014 5768 4445 1980 3220 8500...
Using the tables (pictured) below, conduct a complete ratio
analysis of the Bartlett Company for the years 2018 and 2019. You
should assess the firm’s liquidity, activity, debt, and
profitability ratios. Highlight any particularly positive or
negative developments that you uncover when comparing ratios from
2018 to 2019.
Bartlett Company Income Statements ($000) For the Years Ended December 31 2019 2018 Sales revenue $3,080 $2,590 Less: Cost of goods sold 2,086 1,705 Gross profits $994 $885 Less: Operating expenses Selling...
Below are the statements of financial position of ABC Ltd for the financial year ending 31 December 2019 and 2018 together with additional information related to other events in the 31 December 2019 financial year. ABC Balance Sheet as at 31 December 2019 2019 2018 Assets Cash Accounts receivables Inventory Prepaid expenses Long-term investments Land Buildings and equipment Accumulated depreciation TOTAL ASSETS 30 000 410 000 300 000 20 000 50 000 560 000 2 000 000 -800 000 2...
ENGR 314 SPRING 2019-HOMEWORK NO.2-FINANCIAL STATEMENTS Financial Statements 2.1 Consider the balance-sheet entries for War Eagle Corporation in Table P2.1 (a) Compute the firm's Current assets: S Current liabilities: S Working capital: S Shareholders' equity: S TABLE P2.1 Balance Sheet Statement as of December 31, 2015 Assets Cash Marketable securities Accounts receivable Inventories Prepaid taxes and insurance Manufacturing plant at cost Less accumulated depreciation Net fixed assets Goodwill s 150,000 200,000 150,000 50,000 30,000 600,000 00,000 500,000 20,000 TABLE P2.1...
NC Use the information below for the MAX& ARIEL Company to prepare the company's financial statements for the year ended 12-31-18. Use good form! PLEASE COMPLETE THE HEADINGs: S4,000 500 4,500 1,500 6,000 1,000 1,500 10,500 3,500 45,000 (2,000) S3,500 34,000 Marketable Securities Land Advertising expense Cash Accounts payable Machinery Service Revenue Prepaid insurance Common (capital) Stock Salaries expense Accumulated depreciation Treasury Stock Unearned revenue Insurance expense Retained earnings 1-1-18 Supplies on hand Dividends Taxes payable Rent expense Accounts Receivable...
$10,006,000 7505000 $2,501,000 Given the following financial statements Sterling Company Income Statement for the Year Ended December 31, 2015 Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Selling expense General and administrative expenses Lease expense Depreciation expense Total operating expense Operating profits Less: Interest expense Net profits before taxes Less: Taxes (rate=40%) Net profits after taxes Less: Preferred stock dividends Earnings available for common stockholders Earnings per share (EPS) $293,000 635000 48200 192000 1168200 $1,332,800 212000...
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. Employees earned $2,900 in salaries that will be paid next month. The Salaries Expense unadjusted balance as of December 31 is $5,700. Adjustment Type: Salaries Expense Salaries Payable November 1 of the current year, Record the transaction for the year ended December 31 Adjustment Type: Insurance Expense...
Based on your financial statements for Business Solutions answer the following questions: Does Business Solutions have enough cash to pay its liabilities? Please list the amounts and the overage amount or shortfall. Does Business Solutions need to improve this situation? If not, please describe what they are doing correctly, if so, please describe how they may improve. Business Solutions Unadjusted Trial Balance Adjusted Trial Balance | Post-Closing Trial Balance Credit Credit Credit Debit 52 014 5768 4445 1980 3220 8500...
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