Individual Assignment 1 FINA

TB MC Qu. 17-138 (Algo) Refer to the following selected financial... Refer to the following selected financial information from Texas Electronics. Compute the company's current ratio for Year 2. Year 2 Year 1 Cash Short-term investments Accounts receivable, net Merchandise inventory $ 38,200 $ 32,950 97,000 63,500 89,000 83,000 124,500 128,500 Prepaid expenses 12,800 10,400 Plant assets 391,500 341,500 Accounts payable 109,900 111,300 ices Net sales 714,500 679,500 Cost of goods sold 393,500 378,500 Multiple Choice 3.29 3.17

Question Content Area The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $41,912 Accounts receivable (net) 29,707 Inventory 28,654 Property, plant and equipment 293,074 Total Assets $393,347 Liabilities and Stockholders' Equity Current liabilities $58,253 Long-term liabilities 97,633 Stockholders' equity-common 237,461 Total Liabilities and stockholders' equity $393,347 Income Statement Sales $80,900 Cost of goods sold 36,405 Gross margin $44,495 Operating expenses 25,209 Net income $19,286 Number of shares of common stock 6,546 Market price of common stock $35 What is the current ratio for this company? Round your answer to two decimal places. Select the correct answer. 1.23 2.22 0.72 1.72

Question Content Area The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Use this information to answer the question that follow. Assets Cash and short-term investments $30,000  Accounts receivable (net) 20,000  Merchandise inventory 15,000  Property, plant, and equipment 185,000  Total assets $250,000    Liabilities and Stockholders' Equity Current liabilities $45,000  Long-term liabilities 70,000  Stockholders' equity—common 135,000  Total liabilities and stockholders' equity $250,000    Income Statement Sales $85,000  Cost of merchandise sold 45,000  Gross profit $40,000  Operating expenses (15,000) Interest expense (5,000) Net income $20,000  Number of shares of common stock outstanding   6,000 Market price per share of common stock   $20 Total dividends paid   $9,000 Net cash flows from operating…

Question Content Area The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Use this information to answer the question that follow. Assets Cash and short-term investments $30,000  Accounts receivable (net) 20,000  Merchandise inventory 15,000  Property, plant, and equipment 185,000  Total assets $250,000    Liabilities and Stockholders' Equity Current liabilities $45,000  Long-term liabilities 70,000  Stockholders' equity—common 135,000  Total liabilities and stockholders' equity $250,000    Income Statement Sales $85,000  Cost of merchandise sold 45,000  Gross profit $40,000  Operating expenses (15,000) Interest expense (5,000) Net income $20,000  Number of shares of common stock outstanding   6,000 Market price per share of common stock   $20 Total dividends paid   $9,000 Net cash flows from operating…

Accounting question

12. Sales to unaffiliated customers Sales – intersegment Loan interest income - intersegment Loan interest income - unaffiliated Income from equity method investees Wholesale Segment $3,600 400 -0- -0- -0- Revenue test (dollars in thousands) Retail Finance Segment Segment $1,500 a. a) Wholesale, $3,600; Retail, $1,500; Finance, $ -0- b. b) Wholesale, 4,000; Retail, 1,740; Finance, -0- C. c) Wholesale, 4,000; Retail, 1,980; Finance, 980 d. d) Wholesale, 4,000; Retail, 2,380; Finance, 980 240 120 240 280 $-0- -0- 900 80 -0- Determine the amount of revenue for each of the three segments that would be used to identify the reportable industry segments in accordance with the revenues test specified by ASC 280.

Horizontal Analysis Mike Sanders is considering the purchase of Kepler Company, a firm specializing in the manufacture of office supplies. To be able to assess the financial capabilities of the company, Mike has been given the company’s financial statements for the 2 most recent years. Kepler CompanyComparative Balance Sheets   This Year Last Year Assets     Current assets:     Cash $50,000.00 $100,000.00 Accounts receivable, net 300,000.00 150,000.00 Inventory 600,000.00 400,000.00 Prepaid expenses 25,000.00 30,000.00 Total current assets $975,000.00 $680,000.00 Property and equipment, net 125,000.00 150,000.00 Total assets $1,100,000.00 $830,000.00 Liabilities and Stockholders’ Equity     Current liabilities:     Accounts payable $400,000.00 $290,000.00 Short-term notes payable 200,000.00 60,000.00 Total current liabilities $600,000.00 $350,000.00 Long-term bonds payable, 12% 100,000.00 150,000.00 Total liabilities $700,000.00 $500,000.00…

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Required Information Problem 17-5A (Algo) Comparative ratio analysis LO P3 [The following information applies to the questions displayed below.] Summary information from the financial statements of two companies competing in the same industry follows. Barco Kyan Company Company Barco Company Kyan Company Data from the current year-end balance sheets Data from the current year's income statement Assets Sales Prepaid expenses Cash $ 22,500 $ 34,000 Accounts receivable, net 40,400 59,400 Merchandise inventory 84,743 130,500 Plant assets, net 5,700 330,000 312,400 Basic earnings per share Total assets $ 483,348 $ 544,180 Cash dividends per share Current liabilities Liabilities and Equity Long-term notes payable. Common stock, $5 par value Retained earnings Total liabilities and equity $ 483,343 $ 544,100 $ 64,340 $ 94,300 Accounts receivable, net 83,800 190,000 103,000 206,000 Beginning-of-year balance sheet data Merchandise inventory Total assets 145,200 140,800 Common stock, $5 par value…

Question Content Area The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Line Item Description Amount Cash and short-term investments $30,000  Accounts receivable (net) 20,000  Inventory 15,000  Property, plant, and equipment 185,000  Total assets $250,000  Liabilities and Stockholders’ Equity Line Item Description Amount Current liabilities $45,000  Long-term liabilities 70,000  Common stock 80,000  Retained earnings 55,000  Total liabilities and stockholders’ equity $250,000  Income Statement Line Item Description Amount Sales $85,000  Cost of goods sold (45,000) Gross profit $40,000  Operating expenses (15,000) Interest expense (5,000) Net income $20,000  Line Item Description Amount Number of shares of common stock outstanding 6,000 Market price per share of common stock $20 Total dividends…

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Question: General Accounting

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Problem 8-5 The trial balance of Winston Corporation Home Office and its branch on December 31, 2014 is given as follows: Debits WINSTON CORPORATION Trial Balance December 31, 2014 Cash Accounts receivable Inventory, January 1, 2014 Investment in branch Equipment (net) Purchases Shipments from home office Expenses Totals Home office P 30,000 45,000 37,500 60,000 75,000 450,000 Branch P 6,000 24,000 15,000 120,000 75,000 15,000 P772,500 P180,000

Financial accounting question

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Question Content Area Hsu Company reported the following on its income statement:   Income before income taxes $325,364   Income tax expense 97,609   Net income $227,755 Interest expense was $73,540. Hsu Company's times interest earned ratio (rounded to two decimal places) is a.4.42 times b.3.1 times c.2.1 times d.5.42 times

Question 1 The following are financial statements of Crane Company. Crane CompanyIncome StatementFor the Year Ended December 31, 2022 Net sales   $2,192,500 Cost of goods sold   1,010,500 Selling and administrative expenses   900,500 Interest expense   78,000 Income tax expense   62,500 Net income   $ 141,000 Crane CompanyBalance SheetDecember 31, 2022 Assets     Current assets       Cash   $ 55,100   Debt investments   89,000   Accounts receivable (net)   168,400   Inventory   236,500    Total current assets   549,000 Plant assets (net)   572,500 Total assets   $ 1,121,500 Liabilities and Stockholders’ Equity     Current liabilities       Accounts payable   $ 152,000   Income taxes payable   31,000    Total current liabilities   183,000 Bonds payable   220,740    Total liabilities   403,740 Stockholders’ equity       Common stock   345,000   Retained earnings   372,760…

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