Bản sao của FIN202_BÀI TẬP NHÓM TỪ CHAP 3
docx
keyboard_arrow_up
School
FPT University *
*We aren’t endorsed by this school
Course
FIN202
Subject
Finance
Date
Jun 4, 2024
Type
docx
Pages
11
Uploaded by JudgeSeahorseMaster1129
GROUP 3 - FIN202 - CHAPTER 3
Members:
1. Đặng Ngọc Yến (Leader)
2. Trần Nhật Lam
3. Hồ Ngọc Kim Tuyền
4. Dương Lê Trần Quý
5. Bùi Quang Thịnh
HOMEWORK
3.1 (Tuyền):
Balance sheet: Given the following information about the Elkridge Sporting Goods,
Inc., construct a balance sheet for the period ending June 30, 2008. The firm had cash and marke
table securities of $25,135, accounts receivables of $43,758, inventory of $167,112, net fixed assets
of $325,422, and other assets of $13,125. It had accounts payables of $67,855, notes payables of $3
6,454, long-term debt of $223,125, and common stock of $150,000. How much retained earnings
does the firm have?
Answer:
3.2 (Tuyền): Inventory accounting: Differentiate between FIFO and LIFO.
Answer: FIFO (first in, first out) refers to the practice of firms, when making sales, assuming that the i
nventory that came in first (at a lower price) is being sold first. LIFO (last in, last out) implies that a fir
m is selling the higher cost, newer inventory first, leaving the lower cost, older inventory on the balanc
e sheet.
3.3 (Tuyền):
Inventory accounting: Explain how the choice of FIFO versus LIFO can affect a fir
m’s balance sheet and income statement.
Answer: FIFO makes sense during times of rising prices because it allows the firm to eliminate the lo
wer priced inventory first, resulting in higher profit margin. This allows the firm to leave higher-valued
inventory on the balance sheet. During inflationary times, a firm using LIFO would see a lower profit
margin and lower values of inventory on the balance sheet. It is important that anyone who is analyzing
firms using different accounting methods on inventory recognize the impact on the bottom line (profit
margin and net income) and on current assets.
3.4 (Tuyền): Market-value accounting:
How does the use of market-value accounting help manag
ers?
Answer: Market-value accounting of both assets and liabilities allows managers to have a truer picture
of their company’s financial condition and to do a better job of estimating cash flows that the assets wo
uld generate. However, marking-to-market is not as easy as it sounds because of the difficulties involve
d in coming up with the correct market value of current assets and liabilities
3.5 (Tuyền): Working capital: Laurel Electronics reported the following information at its annua
l meetings. The company had cash and marketable securities worth $1,235,455, accounts payable
s worth $4,159,357, inventory of $7,121,599, accounts receivables of $3,488,121, notes payable wo
rth $1,151,663, and other current assets of $121,455. What is the company’s net working capital?
Answer:
- Total current assets = $1,235,455 + $3,488,121 + $7,121,599 + $121,455= $11,966,630
- Total current liabilities = $4,159,357 + $1,151,663= $5,311,020
- Net working capital = $11,966,630 - $5,311,020 = $6,655,610
3.6 (Tuyền): Working capital: The financial information for Laurel Electronics referred to in Pr
oblem 3.5 is all book value. Suppose marking-to-market reveals that the market value of the fir
m’s inventory is 20 percent below its book value and its receivables are 25 percent below its book
value. The market value of its current liabilities is identical to the book value. What is the firm’s
net working capital using market values? What is the percent change in net working capital?
Answer:
- Market value of inventory = $7,121,599 x 0.80 = $5,697,279
- Market value of receivables = $3,488,121 x 0.75 = $2,616,091
- Total current assets = $1,235,455 + $2,616,091 + $5,697,279 + 121,455= $9,670,280
- Total current liabilities = $4,159,357 + $1,151,663 = $5,311,020
- Net working capital = $9,670,280 - $5,311,020 = $4,359,260
- Percent change = ($4,359,260 - $6,656,610) / $6,656,610 = - 34.5%
3.7 (Thịnh): Income statement: The Oakland Mills Company has just disclosed the following fina
ncial information in its annual report: sales of $1.45 million, cost of goods sold of $812,500, depre
ciation expenses of $175,000, and interest expenses of $89,575. Assume that the firm has an avera
ge tax rate of 29 percent. What is the company’s net income? Set up an income statement to answ
er the question.
Answer:
3.8 (Thịnh): Cash flows: Describe the organization of the statement of cash flows.
Answer: The statement of cash flows identifies the cash inflows and cash outflows of the firms for a sp
ecified period. This allows one to estimate the net cash flows from operations. This financial statement
is organized to report the cash flows resulting from the three basic activities in any firm—operating, in
vesting, and financing. See Exhibit 3.4 for an example. The cash flows from operations are the results
of netting all revenues and expenses that result from the operating activities of the firm. Buying and sel
ling a firm's assets lead to cash flows from investing activities. Cash flows from financing activities ari
se from the firm borrowing from its investors and/or making payments to its lenders and shareholders.
3.9 (Thịnh): Cash flows: Last year, Towson Recording Company increased its investment in mar
ketable securities by $36,845, funded fixed-assets acquisitions of $109,455, and had marketable se
curities of $14,215 mature. What is the net cash used in investing activities? Answer:
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
3.10 (Thịnh): Cash flows: Caustic Chemicals management identified the following cash flows as s
ignificant in its year-end meeting with analysts: During the year, Caustic repaid existing debt of
$312,080 and raised additional debt capital of $650,000. It also repurchased stock in the open ma
rket for a total of $45,250. What is the net cash provided by financing activities?
Answer:
3.11 (Thịnh): Cash flows: Identify and describe the noncash expenses that a firm may incur.
Answer:
A firm may have several items on its income statement that did not result in any cash outflow
to the firm. The two largest are depreciation expenses and amortization expenses. Other noncash expen
ses include deferred taxes, wages, and depletion charges, which is similar to depreciation and used for
natural resource assets. Prepaid expenses also fit into this category as they represent expenses to the fir
m that are yet to be paid out.
3.12 (Thịnh): Cash flows: Given the data for Oakland Mills Company in Problem 3.7, compute t
he cash flows to investors from operating activity.
Answer:
The average tax rate is defined as the total taxes paid divided by taxable income. The margina
l tax rate, meanwhile, represents the tax rate that is paid on the last dollar of income earned, or the rate
that will be paid on the next dollar earned.
3.13 (Yến):
Cash flows: Hillman Corporation reported current assets of $3,495,055 on December
31, 2020, and $3,103,839 on December 31, 2019. Current liabilities for the firm were $2,867,225 a
nd $2,760,124 at the end of 2020 and 2019, respectively. Compute the cash flow invested in net w
orking capital at Hillman Corporation during 2020.
Answer:
CFNWC = ($3,495,055 - $2,867,225) – ($3,103,893 - $2,760,124) = $284,061
3.14 (Yến):
Cash flows: Del Bridge Construction had long-term assets before depreciation of $99
0,560 on December 31, 2019, and $1,211,105 on December 31, 2020. How much cash flow was inv
ested in long term assets by Del Bridge during 2020?
Answer:
CFLTA = $1,211,105 - $990,560 = $220,545
3.15 (Yến):
Tax: Define the average tax rate and marginal tax rate.
Answer:
- The average tax rate
is defined as the total taxes paid divided by taxable income.
- The marginal tax rate
, meanwhile, represents the tax rate that is paid on the last dollar of income ear
ned, or the rate that will be paid on the next dollar earned.
3.16 (Yến):
Tax: What is the relevant tax rate to use when making financial decisions? Explain w
hy.
Answer:
Managers need to use the marginal tax rate for making financial decisions. This is because an
y additional cash flows that result from a firm’s new projects will be taxed at the marginal tax rate. Thu
s, this is the appropriate rate to use.
3.17 (Yến):
Tax: Manz Property Management Company just announced earnings before taxes of
$1,478,936. Calculate its taxes using a flat tax rate of 30 percent.
Answer:
- Earnings before tax = $1,478,936
- Taxes owed = Tax rate * Taxable income
- Taxes owed = 0.30 * $1,478,936 = $443,680.8
3.22 (Yến):
Income statement: Sosa Corporation recently reported an EBITDA of $31.3 million a
nd net income of $9.7 million. The company had $6.8 million in interest expense, and its average
corporate tax rate was 30 percent. What was its depreciation and amortization expense?
Answer:
- EBITDA = $31.3 million
- Net income = $9.7 million
- Interest expense = $6.8 million
- Tax rate = 30%
- EBT = Net income / (1 - Tax rate) = $9.7 million / (1 - 0.30) = $9.7 million / 0.70= $13.86 million
- EBIT = EBT + Interest expense = $13.86 million + $6.8 million = $20.66 million
- Depreciation and amortization = EBITDA - EBIT = $31.3 million - $20.66 million = $10.64 milli
on
3.23 (Lam):
Fraser Corporation has announced that its net income for the year was $1,353,412. T
he company had EBITDA of $4,967,855, and its depreciation and amortization expense was equa
l to $1,112,685. The company’s average tax rate is 29 percent. What was its interest expense?
Answer:
- Net income = $1,353,412
- EBITDA = $4,967,855
- Depreciation and amortization = $1,112,685
- Tax rate = 29%
- EBIT = EBITDA - Depreciation and amortization = $4,967,855 - $1,112,685 = $3,855,170
- EBT = Net income
1
−Taxrate
= $
1,353,412
1
−
0.29
= $1,906,214.09
- Interest expense = EBIT - EBT = $3,855,170 - $1,906,214.09 = $1,948,955.91
3.24 (Lam):
For its most recent fiscal year, Carmichael Hobby Shop recorded EBITDA of $512,7
25.20, EBIT of $362,450.20, zero interest expense, and cash flow to investors from operating activ
ity of $348,461.25. Assuming there are no noncash revenues recorded on the income statement, w
hat is the firm’s net income after taxes?
Answer:
- EBITDA = $512,725.20
- EBIT = $362,450.20
- CFOA = $348,461.25 - Interest expense = 0
- Depreciation and amortization = EBITDA - EBIT = $512,725.20 - $362,450.20 = $150,275
- EBT = EBIT - Interest expense = $362,450.20 - 0 = $362,450.20
- Net income = CFOA - Depreciation and amortization = $348,461.25 - $150,275 = $198,186.25
3.26 (Lam):
Refer to the information given in Problem 3.21. What is the cash flow from operatin
g activity for Nimitz Rental?
Answer 3.21:
Income statement: Nimitz Rental Company provided the following information to i
ts auditors. For the latest fiscal year, the company had revenues of $878,412, general and adminis
trative expenses of $352,666, depreciation expenses of $131,455, leasing expenses of $108,195, and
interest expenses equal to $78,122. If the company’s average tax rate is 27 percent, what is its net
income after taxes?
- Revenues = $878,412
- Selling and administrative expenses = $352,666
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
- Depreciation = $131,455
- Leasing expenses = $108,195
- Interest expense = $78,122
- Tax rate = 27%
- EBITDA = Revenues - Selling and administrative expenses - Leasing expenses = $878,412 - $352,66
6 - $108,195 = $417,551
- EBIT = EBITDA - Depreciation = $417,551 - $131,455 = $286,096
- EBT = EBIT - Interest expense = $286,096 - $78,122 = $207,974
- EBT = Net income
1
−Taxrate
—> Net income = EBT x (1 - Tax rate) = $207,974 - (1 - 0.27) = $151,821.02
Answer 3.26:
- Cash flow from operation = Net income + Depreciation= $137,263 + $131,455 = $268,718
3.27 (Lam):
Tax: Mount Hebron Electrical Company’s financial statements indicated that the co
mpany had earnings before interest and taxes of $718,323. The interest rate on its $850,000 debt
was 8.95 percent. Calculate the taxes the company is likely to owe if its tax rate is a flat 30%. Wh
at are the marginal and average tax rates for this company?
Answer:
- EBIT = $718,323
- Interest expense = $850,000 x 8.95% = $76,075
- EBT = EBIT - Interest expense = $718,323 - $76,075 = $642,248
- Taxes = 30% x EBT = 30% x $642,248 = $192,674.4
- Marginal tax rate = 30%
- Average tax rate = Totaltaxes
Taxableincome
= $
192,674.4
$
642,248
= 30%
3.28 (Lam):
The Centennial Chemical Corporation just announced income after taxes of $2,768,0
28.25 on revenues of $13,144,680. The company’s costs (excluding depreciation and amortizatio
n) amounted to 61 percent of sales, and it had interest expenses of $392,168. What is the firm’s de
preciation and amortization expense if its average tax rate is 34 percent?
Answer:
- Revenues = $13,144,680
- Net income = $2,768,028.25
- Tax rate = 34%
- Interest expense = $392,168
- Costs = Revenues x 61% = $13,144,680 x 61% = $8,018,254.8
- EBITDA = Revenues - Costs = $13,144,680 - $8,018,254.8 = $5,126,425.2
- EBT = Net income
1
−Taxrate
= $
2,768,028.25
1
−
0.34
= $4,193,982.2
- EBIT = EBT + Interest expense = $4,193,982.2 + $392,168 = $4,586,150.2
- Depreciation and amortization = EBITDA - EBIT = $5,126,425.2 - $4,586,150.2 = $540,275
3.29 (Quý):
Columbia Construction Company earned $451,888 during the year. After paying out
$225,794 in dividends, the balance went into retained earnings. If the firm’s total retained earnin
gs were $846,972 at the end of the year, what were the retained earnings on the balance sheet at t
he start of the year?
Answer:
- Retained earnings from the current year: We know the company earned $451,888 during the year, and
after dividends, this went into retained earnings.
- Total retained earnings at year-end: The problem states this is $846,972.
- Beginning of year retained earnings: To find the starting retained earnings, we can subtract the curren
t year's contribution to retained earnings from the total year-end retained earnings.
- Calculation:
Beginning retained earnings = Total retained earnings - Retained earnings from current year = $846,97
2 - $451,888 = $395,084
- Therefore, the retained earnings on the Columbia Construction Company's balance sheet at the
start of the year were $395,084.
3.30 (Quý):
Menomonie Casino Company earned $23,458,933 before interest and taxes last year
and had interest expenses of $1,645,123. If the firm is taxed at 25% on taxable income up to $15,
000,000 and 28% on taxable income above $15,000,000, calculate the firm’s tax obligation. What
are the marginal and average tax rates for this company?
Answer:
- Taxable Income Calculation
Start with Earnings Before Interest and Taxes (EBIT) = $23,458,933
Subtract Interest Expense = $1,645,123
Taxable Income = EBIT - Interest Expense = $23,458,933 - $1,645,123 = $21,813,810
- Tax Obligation Calculation
Since the taxable income is below the threshold of $15,000,000, the entire amount is taxed at the 25% r
ate.
Tax Obligation = Taxable Income * Tax Rate = $21,813,810 * 25% = $5,453,452.50
- Marginal Tax Rate
The marginal tax rate is the rate applied to the last dollar of taxable income. In this case, since the entir
e taxable income falls under the 25% bracket, the marginal tax rate is 25%.
- Average Tax Rate
The average tax rate is the total tax obligation divided by the total taxable income.
Average Tax Rate = Total Tax Obligation / Taxable Income = $5,453,452.50 / $21,813,810 = 25% (ap
proximately)
- Therefore:
Menominie Casino Company's tax obligation is $5,453,452.50.
The marginal tax rate is 25%.
The average tax rate is approximately 25%.
3.31 (Quý):
Vanderheiden Hog Products Corp. provided the following financial information for i
ts most recent quarter.
Net income: $189,425
Depreciation and amortization: $63,114
Increase in receivables: $62,154
Increase in inventory: $57,338
Increase in accounts payable: $37,655
Decrease in other current assets: $27,450
What is this firm’s cash flow from operating activities during the quarter?
Answer:
- Start with Net Income: $189,425
- Adjust for Non-Cash Expenses: Add depreciation and amortization, as they represent an expense on t
he income statement but don't use cash outflow in the current period.
Adjusted Income = Net Income + Depreciation & Amortization = $189,425 + $63,114 = $252,539
- Adjust for Changes in Working Capital:
Increase in receivables:
This represents a decrease in cash flow from operations as the company
hasn't collected cash from customers yet. So, we subtract it.
Increase in inventory: Similar to receivables, this is an increase in an asset that hasn't been sold
yet, so it represents a decrease in cash flow. Subtract it.
Increase in accounts payable:
This represents an increase in the company's liabilities, essentiall
y delaying cash outflow to suppliers. So, we add it back to cash flow.
Decrease in other current assets:
Without more information, we can't definitively determine the
impact on cash flow. However, a decrease in current assets generally indicates a cash outflow. We'll as
sume it represents a use of cash and subtract it.
- Adjusted Cash Flow = Adjusted Income - Increase in Receivables - Increase in Inventory + Increase i
n Accounts Payable - Decrease in Other Current Assets = $252,539 - $62,154 - $57,338 + $37,655 - $2
7,450 = $198,152
- Therefore, Vanderheiden Hog Products Corp.'s cash flow from operating activities during the q
uarter is $198,152.
3.32 (Quý): Analysts following the Tomkovick Golf Company were given the following balance s
heet information for the years ended June 30, 2020, and June 30, 2019:
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
In addition, it was reported that the company had a net income of $3,155,848 and that depreciati
on expenses were equal to $212,366 during 2020. Assume amortization expense was $0 in 2020. a. Construct a 2020 cash flow statement for this firm. b. Calculate the net cash provided by operating activities for the statement of cash flows.
c. What is the net cash used in investing activities?
d. Compute the net cash provided by financing activities.
Answer: a. Cash Flow Statement for Tomkovick Golf Company (2020)
Based on the indirect method for operating cash flow and the information provided in the image, we ca
n construct the following cash flow statement:
Cash Flow Activity
Description
Line Item
Amount
Cash Flows from Operating Act
ivities
Indirect Method
Net Income
Starting Point
$3,155,848
Adjustments for Non-Cash E
xpenses
+ Depreciation Expense
$212,366
Adjustments for Changes in
Working Capital
- Decrease in Accounts Recei
vable
+ $58,563
(Image Data)
+ Increase in Inventory
- $71,079
(Image Data)
+ Increase in Other Current
Assets
- $11,339
(Image Data)
Subtotal Adjustments for Wo
rking Capital
-$23,855
Cash Flow from Operating A
ctivities
$3,134,359
- Explanation of Adjustments:
Decrease in Accounts Receivable:
A decrease in accounts receivable indicates a collection of ca
sh from customers, so we add it back to net income. (Image data shows a decrease of $58,563).
Increase in Inventory:
An increase in inventory represents a use of cash for stocking up, so we s
ubtract it from net income. (Image data shows an increase of $71,079).
Increase in Other Current Assets:
An increase in other current assets generally indicates a use o
f cash, so we subtract it from net income. (Image data shows an increase of $11,339).
b. Net Cash Provided by Operating Activities
The net cash provided by operating activities for the statement of cash flows is $3,134,359.
c. Net Cash Used in Investing Activities
Unfortunately, we cannot determine the net cash used in investing activities from the provided b
alance sheet information. The cash flow statement would typically show details on investment pu
rchases or sales, which are missing here.
d. Net Cash Provided by Financing Activities
We can analyze the financing activities based on the changes in equity and debt between the balance sh
eets and the given information:
Increase in Accounts Payable and Accruals:
This indicates a delay in cash outflow to suppliers,
so we subtract it from net cash flow. (Image data shows an increase of $46,232).
Increase in Notes Payable:
An increase in notes payable suggests borrowing cash, so we add it t
o net cash flow. (Image data shows an increase of $6,625).
Decrease in Long-Term Debt:
Repayment of long-term debt represents a use of cash, so we subt
ract it from net cash flow. (Image data shows a decrease of $113,534).
Payment of Dividends:
Payment of dividends represents a distribution of cash to shareholders, s
o we subtract it from net cash flow. (Image data is not available for dividends).
3.33 (Quý):
Based on the financial statements for Tomkovick Golf Company in Problem 3.32, co
mpute the cash flow invested in net working capital and the cash flow invested in long-term asset
s that you would use in a calculation of the cash flow to investors for 2020.
Answer:
- CFNWC = ($758,686 – $413,848) – ($717,986 – $356,681) = -$16,467
- CFLTA = ($1,931,719 – $1,609,898) + ($382,145 - $412,565) = $291,401
Related Documents
Related Questions
This is all supposed to be done in excel using formulas.
arrow_forward
Helppp
arrow_forward
P5.6
arrow_forward
Please provide clear step by step answer with all working in text form
arrow_forward
Summarize what each value of the balance sheet for Assets, Liabilities and Owner Equity represents to the company. For example, what does the Cash value of $8484 represents to the company.Why are all values important for the company and for the balance sheet.
arrow_forward
Listed below, in alphabetical order, are the balance sheet items of Samtana Corp. at December 31, 2023.
Accounts Payable$ 9,000
Accounts Receivable15,000
Building46,000
Cash12,000
Land52,000
Office Equipment4,000
Samtana, Capital/Investment120,000
Prepare a balance sheet (in excel or word) and include a complete headings. Follow the format that is noted in the textbook and power-point slides. Ensure that the accounting equation is in balance.
arrow_forward
Flint Inc. had the following balance sheet at December 21, 2024
arrow_forward
signment #7 (Chapter 3) Due 7 April 2024
Saved
Help
$550,000;
You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and
marketable securities = $340,000; accounts receivable = $1,300,000; inventory = $2,200,000; accrued wages and taxes =
accounts payable $850,000; and notes payable = $700,000.
=
Calculate SophieLex's current ratio, quick ratio, and cash ratio.
Note: Round your answers to 2 decimal places.
Current ratio
Quick ratio
Cash ratio
times
times
times
W
arrow_forward
I need assistance with this financial accounting question using appropriate principles.
arrow_forward
Q2.
arrow_forward
Question: General Accounting
arrow_forward
Qq.40.
Subject :- Account
arrow_forward
From the following details prepare a summarized balance sheet of Anitha and Company as on
31.12.2018. Fixed assets to net-worth: 0.75:1 Current ratio 2:1 Liquid ratio 3:2 Reserves included in
Proprietors" Fund 1:4 07 Page 2 of 4 Current Liabilities Rs.2, 00, 000 Cash and bank balancesRs
.10,000 Fixed Assets Rs.6,00,000.
arrow_forward
3.
(a) From the following Balance Sheet as on 31 st December 2019 and 31st December
2020. You are required to prepare a Cash Flow Statement.
Amount
Amount Assets
Rs.
3,00,000 Fixed Assets
80,000 Good Will
1,60,000 Stock
1,20,000 Debtors
80,000 BHIs Receivable
30,000 Bank
Liabilities
Share Capital
General Reserve
P & L Account
6% Debentures
Creditors
O/S Expenses
Rs.
2,00,000
60,000
1,00,000
1,00,000
60,000
20,000
5,40,000
7,70,000
Amount
Rs.
Amount
Rs.
2,00,000
3,00,000
1,00,000
80,000
1,00,000 1,60.000
1,00,000 1,60,000
20,000
40,000
20,000
30,000
5,40,000 7,70,000
arrow_forward
Quinze Seize Corp. reported the following amounts in its statement of financial position at each year-end:a. What is the net cash provided by operating activities?b. What is the net cash used in investing activities?c. What is the net cash provided by financing activities?
arrow_forward
Help me to answer the following requirements. Thank you
arrow_forward
i need the answer quickly
arrow_forward
General Accounting
arrow_forward
I have completed the first 3 questions.
I would like help with the final question 4- preparing a cash flow table.
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you

Essentials Of Investments
Finance
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Mcgraw-hill Education,



Foundations Of Finance
Finance
ISBN:9780134897264
Author:KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:Pearson,

Fundamentals of Financial Management (MindTap Cou...
Finance
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i...
Finance
ISBN:9780077861759
Author:Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:McGraw-Hill Education
Related Questions
- Please provide clear step by step answer with all working in text formarrow_forwardSummarize what each value of the balance sheet for Assets, Liabilities and Owner Equity represents to the company. For example, what does the Cash value of $8484 represents to the company.Why are all values important for the company and for the balance sheet.arrow_forwardListed below, in alphabetical order, are the balance sheet items of Samtana Corp. at December 31, 2023. Accounts Payable$ 9,000 Accounts Receivable15,000 Building46,000 Cash12,000 Land52,000 Office Equipment4,000 Samtana, Capital/Investment120,000 Prepare a balance sheet (in excel or word) and include a complete headings. Follow the format that is noted in the textbook and power-point slides. Ensure that the accounting equation is in balance.arrow_forward
- Flint Inc. had the following balance sheet at December 21, 2024arrow_forwardsignment #7 (Chapter 3) Due 7 April 2024 Saved Help $550,000; You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $340,000; accounts receivable = $1,300,000; inventory = $2,200,000; accrued wages and taxes = accounts payable $850,000; and notes payable = $700,000. = Calculate SophieLex's current ratio, quick ratio, and cash ratio. Note: Round your answers to 2 decimal places. Current ratio Quick ratio Cash ratio times times times Warrow_forwardI need assistance with this financial accounting question using appropriate principles.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Essentials Of InvestmentsFinanceISBN:9781260013924Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.Publisher:Mcgraw-hill Education,
- Foundations Of FinanceFinanceISBN:9780134897264Author:KEOWN, Arthur J., Martin, John D., PETTY, J. WilliamPublisher:Pearson,Fundamentals of Financial Management (MindTap Cou...FinanceISBN:9781337395250Author:Eugene F. Brigham, Joel F. HoustonPublisher:Cengage LearningCorporate Finance (The Mcgraw-hill/Irwin Series i...FinanceISBN:9780077861759Author:Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan ProfessorPublisher:McGraw-Hill Education

Essentials Of Investments
Finance
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Mcgraw-hill Education,



Foundations Of Finance
Finance
ISBN:9780134897264
Author:KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:Pearson,

Fundamentals of Financial Management (MindTap Cou...
Finance
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i...
Finance
ISBN:9780077861759
Author:Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:McGraw-Hill Education