Homework Answers
| Choose Numerator | / | Choose Denominator | |||
| Total liabilities | / | Total Equity | = | Debt-to-equity ratio | |
| Pulaski Company | $ 9,04,500.00 | / | $ 13,50,000.00 | = | 0.67 |
| Scott Company | $ 5,98,500.00 | / | $ 5,25,000.00 | = | 1.14 |
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07 At the end of the current year, the following information is available for both Pulaski...
At the end of the current year, the following information is available for both Pulaski Company...
At the end of the current year, the following information is available for both Pulaski Company and Scott Company. Total assets Total liabilities Total equity Pulaski Company $2,287,500 871,500 1,416,000 Scott Company $1,156,500 565,500 591,000 Required: 1. Compute the debt-to-equity ratios for both companies. 2. Which company has the riskier financing structure? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the debt-to-equity ratios for both companies. Choose Numerator: 1 Choose Denominator: Debt-to-Equity...
At the end of the current year, the following information is available for both the Pulaski...
At the end of the current year, the following information is available for both the Pulaski Company and the Scott Company. Pulaski CompanyScott CompanyTotal assets$1,800,000$900,000Total liabilities720,000480,000Total equity1,080,000420,000Required1. Compute the debt-to-equity ratio for both companies.2. Comment on your results and discuss the riskiness of each company’s financing structure.
Problem 10-6A Applying the debt-to-equity ratio LO A3 At the end of the current year, the...
Problem 10-6A Applying the debt-to-equity ratio LO A3 At the end of the current year, the following information is available for both Pulaski Company and Scott Company. Pulaski Company $2,348,000 Scott Company $1,217,000 Total assets Total liabilities Total equity 811,000 1,537,000 505,000 712,000 Required: 1. Compute the debt-to-equity ratios for both companies. 2. Which company has the riskier financing structure? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the debt-to-equity ratios for...
At the end of the current year, the following information is available for both pulaski company...
At the end of the current year, the following information is available for both pulaski company and scott company. Pulaski company scott company Total assets 860,000 440,000 total liabilities 360,000 240,000 total equity 500,000 200,000 1.comupte the deb to equity ratios for both companies 2.comment on your results and discuss the riskiness of each company's financing structure
On November 1, 2019, Norwood borrows $590,000 cash from a bank by signing a five-year installment note bearing...
On November 1, 2019, Norwood borrows $590,000 cash from a bank by signing a five-year installment note bearing 7% interest. The note requires equal payments of $143,895 each year on October 31 Required: 1. Complete an amortization table for this installment note. 2. Prepare the journal entries in which Norwood records the following (a) Accrued interest as of December 31, 2019 (the end of its annual reporting period). (b) The first annual payment on the note Complete this question by...
Barco Kyan Company Company Data from the current year-end balance sheets Assets Cash $ 19,000 $...
Barco Kyan Company Company Data from the current year-end balance sheets Assets Cash $ 19,000 $ 35,000 Accounts receivable, net 37,400 54,400 Merchandise inventory 84,340 134,500 Prepaid expenses 5,800 7,600 Plant assets, net 320,000 305, 400 Total assets $466,540 $536,900 Barco Kyan Company Company Data from the current year's income statement Sales $ 790,000 $901,200 cost of goods sold 591 100 640, 500 Interest expense 8,500 16,000 Income tax expense 15 185 24,879 Net income 175, 215 219,821 Basic earnings...
Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets...
Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,752 81,533 103,517 8,615 247,036 $467,453 $ 31,593 $ 33,588 57,545 45,241...
Required information [The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets...
Required information [The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 36,426 $ 41,743 $ 43,048 Accounts receivable, net 101,432 73,781 55,709 Merchandise inventory 132,737 94,601 59,324 Prepaid expenses 11,615 10,958 4,736 Plant assets, net 323,068 300,708 263,483 Total assets $ 605,278 $ 521,791 $ 426,300 Liabilities and Equity Accounts payable $ 153,729 $ 88,183 $ 57,960 Long-term notes payable...
[The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. 2017...
[The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 29,378 $ 34, 341 $ 33,678 84,296 60,096 46,292 104,916 78,618 48,305 9,366 9,195 3,781 269,982 247,007 218,644 $497,938...
The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. 2017...
The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 37,295 $ 42,739 $ 43,634 107,031 77,037 57,003 130,575 98,834 62,586 12,21% 11,107 4,750 332,807 304,523 277,227 $619,718 $534,240...
At the end of the current year, the following information is available for both Pulaski Company and Scott Company. Total assets Total liabilities Total equity Pulaski Company $2,287,500 871,500 1,416,000 Scott Company $1,156,500 565,500 591,000 Required: 1. Compute the debt-to-equity ratios for both companies. 2. Which company has the riskier financing structure? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the debt-to-equity ratios for both companies. Choose Numerator: 1 Choose Denominator: Debt-to-Equity...
Problem 10-6A Applying the debt-to-equity ratio LO A3 At the end of the current year, the following information is available for both Pulaski Company and Scott Company. Pulaski Company $2,348,000 Scott Company $1,217,000 Total assets Total liabilities Total equity 811,000 1,537,000 505,000 712,000 Required: 1. Compute the debt-to-equity ratios for both companies. 2. Which company has the riskier financing structure? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the debt-to-equity ratios for...
On November 1, 2019, Norwood borrows $590,000 cash from a bank by signing a five-year installment note bearing 7% interest. The note requires equal payments of $143,895 each year on October 31 Required: 1. Complete an amortization table for this installment note. 2. Prepare the journal entries in which Norwood records the following (a) Accrued interest as of December 31, 2019 (the end of its annual reporting period). (b) The first annual payment on the note Complete this question by...
Barco Kyan Company Company Data from the current year-end balance sheets Assets Cash $ 19,000 $ 35,000 Accounts receivable, net 37,400 54,400 Merchandise inventory 84,340 134,500 Prepaid expenses 5,800 7,600 Plant assets, net 320,000 305, 400 Total assets $466,540 $536,900 Barco Kyan Company Company Data from the current year's income statement Sales $ 790,000 $901,200 cost of goods sold 591 100 640, 500 Interest expense 8,500 16,000 Income tax expense 15 185 24,879 Net income 175, 215 219,821 Basic earnings...
Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,752 81,533 103,517 8,615 247,036 $467,453 $ 31,593 $ 33,588 57,545 45,241...
[The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 29,378 $ 34, 341 $ 33,678 84,296 60,096 46,292 104,916 78,618 48,305 9,366 9,195 3,781 269,982 247,007 218,644 $497,938...
The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 37,295 $ 42,739 $ 43,634 107,031 77,037 57,003 130,575 98,834 62,586 12,21% 11,107 4,750 332,807 304,523 277,227 $619,718 $534,240...
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