ACC 345 Milestone 2 workbook

CRUZ, INCORPORATED Comparative Balance Sheets 2021 At December 31 Assets 2020 Cash Accounts receivable, net Inventory Prepaid expenses Total current assets $ 75,900 32,600 68, 300 4,200 181,000 $ 18,900 40,100 75,300 3,500 137,800 Furniture Accumulated depreciation-Purniture ৪4, 600 (13,100) $ 252,500 99, 200 (7,500) $ 229,500 Total asseta Liabilities and Equity Accounts payable Wages payable Incone taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Comnon stock, $5 par value Retained earnings $ 11,900 7,100 1,200 20,200 24,800 45,000 $ 16,900 4,000 2,200 23,100 58,400 81,500 177,300 30,200 $ 252,500 141,500 6,500 $ 229,500 Total liabilities and equity CRUZ, INCORPORATED Incone Statement For Year Ended Decenber 31, 2021 Sales $ 392,900 252,900 140,000 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Incone before taxes Incone taxes expense 71,600 30, 200 36, 200 13,900 $ 24,300 Net income

Kinder Company Balance Sheet     December 31     2020   2019 Cash   $ 40,208   $ 11,424 Accounts receivable (net)   42,896   22,736 Inventory   39,200   47,040 Long-term investments   0   16,800 Property, plant & equipment   264,880   168,000 Accumulated depreciation       (42,224)       (28,000)     $344,960   $238,000           Accounts payable   $ 19,040   $ 29,680 Accrued liabilities   23,520   19,040 Long-term notes payable   78,400   56,000 Common stock   145,600   100,800 Retained earnings   78,400   32,480     $344,960   $238,000   Kinder Company Income statement December 31, 2020 Sales Revenue    $ 520,285  Cost of Goods Sold              (304,045) Gross Profit                   216,240 Operating Expenses                 (137,056) Depreciation Expense                   (14,224) Gain on Sale of Investment                   14,560 Net Income                    $79,520   Additional data: 1. Paid dividends of $33,600…

Kinder Company Balance Sheet     December 31     2020   2019 Cash   $ 40,208   $ 11,424 Accounts receivable (net)   42,896   22,736 Inventory   39,200   47,040 Long-term investments   0   16,800 Property, plant & equipment   264,880   168,000 Accumulated depreciation       (42,224)       (28,000)     $344,960   $238,000           Accounts payable   $ 19,040   $ 29,680 Accrued liabilities   23,520   19,040 Long-term notes payable   78,400   56,000 Common stock   145,600   100,800 Retained earnings   78,400   32,480     $344,960   $238,000   Kinder Company Income statement December 31, 2020 Sales Revenue    $ 520,285  Cost of Goods Sold              (304,045) Gross Profit                   216,240 Operating Expenses                 (137,056) Depreciation Expense                   (14,224) Gain on Sale of Investment                   14,560 Net Income                    $79,520   Additional data: 1. Paid dividends of $33,600…

Balance Sheet as at    As at 30/9/16    As at 30/9/15    $    $    Assets              Current assets-                    Cash    8,200    9,400          Accounts Receivable    107,000    103,500          Inventory    82,700    71,300    Non-current assets less accumulated depreciation    242,600    245,700    Total assets    440,500    429,900                   Liabilities and Owners' equity              Current liabilities    117,000    120,000    Loan (repayable in 2019)    152,000    150,000    Total liabilities    269,000    270,000    Owners' equity    171,500    159,900    Total Liabilities and Owners' equity    440,500    429,900    Summarised Income Statement of Bishan Enterprise for the year ended 30 September 2016    $        Sales    990,000        Cost of goods sold    580,000        Gross profit    410,000        Operating expenses    350,000        Net profit    60,000        ·    Note - The owner withdrew $48,400 during 2016.        Required:                Calculate…

Balance Sheet for Bearcat Hathaway, 2022 2021 2022 Cash Accounts Receivable Inventory Current Assets Accum.Depreciation Net Fixed Assets Gross Fixed Assets $16,251,665 $20,567,330 Less $7,460,897 $10,117,819 Total Assets O 11.58% O 44.90% O 8.37% $5,268,485 $10,268,485 O 4.35% $2,574,230 $2,314,672 O 6.02% $529,062 $696,685 $8,371,777 $13,279,842 Total Liabilities and Equity What is the common size value for 2022 Notes Payable? $8,790,768 $10,449,511 $17,162,545 $23,729,353 Current Liabilities 2021 Accounts Payable Notes Payable $1,033,110 $1,987,233 2022 $1,673,992 $2,438,271 $2,707,102 $4,425,504 Long Term Debt $9,242,830 $11,468,302 Total Liabilities $11,949,932 $15,893,806 Common Stock ($0.50 par) $1,300,000 $1,600,000 Capital Surplus $1,148,120 $1,800,969 Retained $2,764,493 $4,434,578 Earnings $17,162,545 $23,729,353

Computron's Balance Sheets (Millions of Dollars)       2019 2020 Assets     Cash and equivalents $ 60 $ 50 Short-term investments 100 10 Accounts receivable 400 520 Inventories 620 820 Total current assets $ 1,180 $ 1,400 Gross fixed assets $ 3,900 $ 4,820 Less: Accumulated depreciation 1,000 1,320 Net fixed assets $ 2,900 $ 3,500 Total assets $ 4,080 $ 4,900       Liabilities and equity     Accounts payable $ 300 $ 400 Notes payable 50 250 Accruals 200 240 Total current liabilities $ 550 $ 890 Long-term bonds 800 1,100 Total liabilities $ 1,350 $ 1,990 Common stock 1,000 1,000 Retained earnings 1,730 1,910 Total equity $ 2,730 $ 2,910 Total liabilities and equity $ 4,080 $ 4,900             Computron's Income Statement (Millions of Dollars) 2019 2020 Net sales $ 5,500 $ 6,000 Cost of goods sold (Excluding depr. & amort.) 4,300 4,800 Depreciation and amortizationa 290 320 Other operating expenses 350 420 Total operating…

Computron's Balance Sheets (Millions of Dollars)       2019 2020 Assets     Cash and equivalents $ 60 $ 50 Short-term investments 100 10 Accounts receivable 400 520 Inventories 620 820 Total current assets $ 1,180 $ 1,400 Gross fixed assets $ 3,900 $ 4,820 Less: Accumulated depreciation 1,000 1,320 Net fixed assets $ 2,900 $ 3,500 Total assets $ 4,080 $ 4,900       Liabilities and equity     Accounts payable $ 300 $ 400 Notes payable 50 250 Accruals 200 240 Total current liabilities $ 550 $ 890 Long-term bonds 800 1,100 Total liabilities $ 1,350 $ 1,990 Common stock 1,000 1,000 Retained earnings 1,730 1,910 Total equity $ 2,730 $ 2,910 Total liabilities and equity $ 4,080 $ 4,900       Computron's Income Statement (Millions of Dollars) 2019 2020 Net sales $ 5,500 $ 6,000 Cost of goods sold (Excluding depr. & amort.) 4,300 4,800 Depreciation and amortizationa 290 320 Other operating expenses 350 420 Total operating…

Balance Sheets as of December 31   2021   2020 Assets   Cash and equivalents $  12,000   $  11,000 Accounts receivable 35,000   20,000 Inventories 30,935   17,000   Total current assets $ 77,935   $ 48,000 Net plant and equipment 47,000   46,000 Total assets $124,935   $94,000   Liabilities and Equity   Accounts payable $ 10,200   $  8,500 Accruals 8,000   6,000 Notes payable 6,400   5,350   Total current liabilities $  24,600   $  19,850 Long-term bonds 10,000   10,000   Total liabilities $  34,600   $  29,850 Common stock (4,000 shares) 50,000   50,000 Retained earnings 40,335   14,150   Common equity $ 90,335   $ 64,150 Total liabilities and equity $124,935   $94,000   Income Statement for Year Ending December 31, 2021 Sales $197,000 Operating costs excluding depreciation and amortization 150,000 EBITDA $ 47,000 Depreciation & amortization 8,000 EBIT $ 39,000 Interest 850 EBT $ 38,150 Taxes (25%) 9,537.50 Net income…

Computing Asset Related Ratios J.M. Smucker included the following information in its April 2019 10-K. $ millions Apr. 30, 2019 Apr. 30, 2018 Sales $7,838.0   Depreciation expense 206.0   Land 122.1 $120.1 Buildings and fixtures 903.2 812.6 Machinery and equipment 2,185.0 2,111.5 Construction in progress 321.8 212.1 Gross property, plant, and equipment 3,532.1 3,256.3 Accumulated depreciation (1,619.7) (1,527.2) Total property, plant, and equipment $1,912.4 $1,729.1 a. Compute PPE turnover for fiscal year ended April 30, 2019. Round answer to one decimal place.Answer   b. Compute the average useful life of depreciable assets at April 30, 2019.Round answer to one decimal place.Answer    yearsc. Compute the percentage used up of the PPE at April 30, 2019.Round answer to one decimal place (ex: 0.2345 = 23.5%)

Е. The income statement , statement of retained earnings and balance sheet of Somerville Company are as follows: Somerville Company Income Statement For the Year Ended December 31, 2019 Amount Percent Net sales 8,281,989 100.0% Less: Cost of goods sold Gross margin Less: Operating expenses Operating income (5,383,293) 2,898,696 (1,323,368) 1,575,328 (50,000) 1,525,328 65.0 35.0 16.0 19.0 Less: Interest expense Income before taxes 0.6 18.4 Less: Income taxes (40%) (610,131) 915.197 7.4 Net income 11.0 Somerville Company Statement of Retained Earnings For the Year Ended December 31, 2019 Balance, beginning of period 1,979,155 Net income 915,197 Total 2,894,352 (80,000) (201,887) 2.612.465 Less: Preferred dividends Dividends to common stockholders Balance, end of period

Daidnice oneels as of December 2021 2020 Assets Cash and equivalents $ 14,000 $ 12,000 Accounts receivable Inventories 35,000 30,000 34,845 29,000 Total current assets $ 83,845 $ 71,000 Net plant and equipment 49,000 46,000 Total assets $132,845 $117,000 Liabilities and Equity Accounts payable $10,500 $9,500 Accruals 8,000 5,000 Notes payable 6,600 5,300 Total current liabilities $ 25,100 $ 19,800 Long-term bonds 20,000 20,000 Total liabilities $ 45,100 $ 39,800 Common stock (4,000 shares) 60,000 60.000 Retained earnings Common equity Total liabilities and equity 27,745 17,200 $ 87,745 $ 77,200 $132,845 $117,000 Income Statement for Year Ending December 31, 2021 Sales $215,000 Operating costs excluding depreciation and amortization EBITDA 170,000 $ 45,000 Depreciation & amortization 7,000 EBIT Interest $ 38,000 EBT Taxes (25%) Net income Dividends paid 700 $ 37,300 9,325.00 $27.975.00 $17,430.00 Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered…

Computing Asset Related Ratios J.M. Smucker included the following information in its April 2019 10-K. $ millions Apr. 30, 2019 Apr. 30, 2018 $8,151.5 214.2 127.0 939.3 2,294.3 334.7 3,695.3 (1,684.5) $2,010.8 Sales Depreciation expense Land Buildings and fixtures Machinery and equipment Construction in progress Gross property, plant, and equipment Accumulated depreciation Total property, plant, and equipment $124.9 845.1 2,217.1 220.6 3,407.7 (1,588.3) $1,819.4 a. Compute PPE turnover for fiscal year ended April 30, 2019. Round answer to one decimal place. 0 x b. Compute the average useful life of depreciable assets at April 30, 2019. Round answer to one decimal place. 0 x years c. Compute the percentage used up of the PPE at April 30, 2019. Round answer to one decimal place (ex: 0.2345 = 23.5%) 0 * %

LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2017 and 2018 2018 2017 $20,600 $16,200 800 Gross sales 100 Sales returns and allowances $19,800 $16,100 11,600 $ 8,200 $ 7,500 Net sales 8,600 Cost of merchandise (goods) sold Gross profit Operating expenses: Depreciation Selling and administrative Research $ 3,400 860 $ 680 2,800 710 580 Miscellaneous 520 380 $ 5,490 $ 4,440 $ 2,710 $ 3,060 Total operating expenses Income before interest and taxes Interest expense 720 580 $ 1,990 $ 2,480 796 Income before taxes Provision for taxes 992 Net income $ 1,194 $ 1,488 LOGIC COMPANY Comparative Balance Sheet December 31, 2017 and 2018 2018 2017 Assets Current assets: Cash $12,800 $ 9,800 13,300 14,800 10.800 Accounts receivable 17,300 9,300 Merchandise inventory Prepaid expenses 24.800 Prou

2019 (Rs. In Thousands) 2020 Assets     Freehold Property at Cost  66 48 Plant and machinery (cost less depreciation)  41.6 121 Inventories 60.7 65.7 Sundry Debtors 40.2 49.5 Cash and bank 18.5 33.6 Preliminary Expenses 2.4 1.2   229.4 319 Liabilities     Issued Share capital 120 150 Share Premium Account - 10 Capital Reserve - 34 Profit and Loss Account 43 42.4 Sundry Creditors 54.4 65.2 Proposed Dividends 12 17   229.4 319 There is no sale for plant and machinery in year 2020. Depreciation written off during year 2020 was Rs. 15000. Net Profit for the year was Rs. 16,400. dividend paid during 2020 in respect of previous year was Rs. 12,000 . Capital reserve represented a profit on sale of freehold premises. You need to prepare: (i) a Statement showing Changes of Working Capital during 2020; and (ii) A Funds Flow Statement for the same period.

2019 2018 2018 2019 Liabilities and Owners' Equity Current lablities Assets Current assets 88,509 $ 185,922 S 193,611 Cash $ 70,322 $ Accounts payable 81,020 132,588 Accounts receivable Notes payable 66,281 86,639 178,920 Inventory 114,322 Total $266,942 S 326,199 354,068 Total $250,925 Long term debt $229,000 S 165,750 Owners' equity Common stock and paid-in surplus Accumulated retained $226,000 $226,000 187,930 226,197 earnings Fixed assets $ 413.930 S 452.197 Net plant and equipment Total $658.947 590,078 944 146 Total liabilities and owners' $909,872 $ 944146 Total assets $909.872 S equity a. Current ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. Quick ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. Cash ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) d. Debt-equity ratio and equity multiplier. (Do not…

COMPARATIVE BALANCE SHEET S OF DECEMBER 31,2020 AND 2019 $1,800 1,750 1,600 $1,150 1,300 1,000 1,700 (1,170) 1,420 Cash Recetvables Inventory Plant assets (1,200 ) 1,300 $7,150 Accumulated depreclatlon Long-term Investments (held-to-maturity) $6,300 Accounts payable Accrued llabilitles 200 250 Bonds payable 1,400 1,550 Common stock 1,700 Retained eamings 2,450 $7,150 $6,300 PAT METHENY COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 $5,900 4,200 sales revEnue Pjos spoo6 jo j50 Selling and administrative expenses Income fron operations 930 1,270 Other revenues and gains Gain on sale of Investrments Income befare tax 1,350 Income tax expense 540 Net incoE Cash dy deds 266 Income retained In business Add tional information:

Computing Asset Related Ratios J.M. Smucker included the following information in its April 2019 10-K. $ millions Apr. 30, 2019 Apr. 30, 2018 Sales $7,916.4   Depreciation expense 208.1   Land 123.3 $121.3 Buildings and fixtures 912.2 820.7 Machinery and equipment 2,250.6 2,174.8 Construction in progress 325.0 214.2 Gross property, plant, and equipment 3,611.1 3,331.0 Accumulated depreciation (1,635.9) (1,542.5) Total property, plant, and equipment $1,975.2 $1,788.5 a. Compute PPE turnover for fiscal year ended April 30, 2019.Round answer to one decimal place.Answerb. Compute the average useful life of depreciable assets at April 30, 2019.Round answer to one decimal place.Answer yearsc. Compute the percentage used up of the PPE at April 30, 2019.Round answer to one decimal place (ex: 0.2345 = 23.5%)Answer%

Account

Need a brief description for Assets distribution in Case Stuady 5 to 6 sentences   ASSETS DISTRIBUTION END OF YEAR 2019   ASSETS Cash, cash equivalents & Investments  $    239,784 Accounts receivables & Prepaid expenses  $      54,458 Inventory  $      59,088 Fixed Assets  $    188,455 Goodwill & Trademarks  $    248,261 Other Assets  $    187,818 TOTAL  $    977,864

Assets       Liabilities and Owners' Equity       2020 2021     2020 2021 Current Assets       Current liabilities     Cash $32,653 $39,350   Accounts Payable $34,886 $44,285 Accounts Receivable $16,911 $28,877   Notes Payable $18,058 $16,848 Inventory $34,495 $44,336   Other $18,871 $25,619 Total $84,059 $112,563   Total $71,815 $86,752         Long term debt $110,000 $140,000 Fixed Assets       Owners' Equity     Net plant and equipment $441,099 $502,872   Common stock $55,000 $55,000         Accumulated retained earnings $288,343 $333,683         Total $343,343 $388,683               Total Assets $525,158 $615,435   Total liabilities and owners' equity $525,158 $615,435       Income statement for 2021:   Sales   $531,750 COGS   $377,294 Depreciation   $46,686 EBIT   $107,770 Interest paid…

Avery Corporation Balance Sheet For year ending December 31 2019 2020 2021 ssets Cash & securities 17,643.813 132,468.629 22,281.616 115,121.68 27,594.924 ccounts receivable 112,479.309 100,955.129 10,947.986 251,977.349 ventories 78,867.845 90,512.493 10,222.209 239,202.497 repaid expenses 10,426.653 otal current assets 238,342.442 Flant property and equipment Lcumulated depreciation let property plant and equipment 531,554.881 510,906.018 536,451.319 87,197.29 128,069.772 170,985.877 444,357.591 382,836.246 365,465.442 Other assets 10,222.209 15,639.98 16,421.979 otal Assets 693,782.297 636,818.669 633,864.769 iabilities & Shareholders'Equity ccounts payable ank Loan axes Payable ccrued expenses 54,080.808 31,297.644 27,599.965 45,191.687 112,482.797 26,066.634 15,639.98 37,773.252 150,798.301 27,369.965 26,577.744 139,556.161 32,843.958 248,785.476 otal current liabilities 199,381.098 ong term debt 95,000 55,000 30,000 Common stock 300,000 200,000 150,000 Eetained earnings Total…

Saved 16 Homework O Complete a horizontal analysis for Brown Company. (Negative answers should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Round the "percent" answers to the nearest hundredth percent.)

Balance Sheets   2019 2018 Assets     Cash and equivalents $100   $85   Accounts receivable 275   300   Inventories 375   250         Total current assets $750   $635   Net plant and equipment 2,300   1,490   Total assets $3,050   $2,125   Liabilities and Equity     Accounts payable $150   $85   Accruals 75   50   Notes payable 150   75         Total current liabilities $375   $210   Long-term debt 450   290         Total liabilities 825   500   Common stock 1,225   1,225   Retained earnings 1,000   400   Common equity 2,225   1,625   Total liabilities and equity $3,050   $2,125   Income Statements   2019 2018 Sales $2,065   $1,525   Operating costs excluding depreciation and amortization 1,250   1,000   EBITDA $815   $525   Depreciation and amortization 100   75   EBIT $715   $450   Interest 63   46   EBT $652   $404   Taxes (25%) 163   101   Net income $489   $303         Dividends paid $54   $48   Addition to…

The condensed financial statements of Evoc Company for the years 2019 and 2020 are presented as follows. Evoc CompanyStatements of Financial PositionDecember 31   2020 2019 Intangibles and other assets   € 530   € 510 Property, plant, and equipment   420   380 Investments   10   10 Current assets           Prepaid expenses €120   €160     Inventory 430   390     Accounts receivable (net) 470   433     Cash and cash equivalents  330  1,350  360  1,343     Total assets   €2,310   €2,243 Equity   €1,020   €1,040 Non‐current liabilities   390   393 Current liabilities      900      810     Total equity and liabilities   €2,310   €2,243     Evoc CompanyIncome StatementsFor the Years Ended December 31   2020 2019 Sales revenue €4,000 €3,600 Costs and expenses       Cost of goods sold 984 895   Selling and administrative expenses 2,400 2,330   Interest expense 10 20     Total costs and expenses 3,394 3,245 Income before income taxes 606…

The condensed financial statements of Evoc Company for the years 2019 and 2020 are presented as follows. Evoc CompanyStatements of Financial PositionDecember 31   2020 2019 Intangibles and other assets   € 530   € 510 Property, plant, and equipment   420   380 Investments   10   10 Current assets           Prepaid expenses €120   €160     Inventory 430   390     Accounts receivable (net) 470   433     Cash and cash equivalents  330  1,350  360  1,343     Total assets   €2,310   €2,243 Equity   €1,020   €1,040 Non‐current liabilities   390   393 Current liabilities      900      810     Total equity and liabilities   €2,310   €2,243     Evoc CompanyIncome StatementsFor the Years Ended December 31   2020 2019 Sales revenue €4,000 €3,600 Costs and expenses       Cost of goods sold 984 895   Selling and administrative expenses 2,400 2,330   Interest expense 10 20     Total costs and expenses 3,394 3,245 Income before income taxes 606…

The condensed financial statements of Evoc Company for the years 2019 and 2020 are presented as follows. Evoc CompanyStatements of Financial PositionDecember 31   2020 2019 Intangibles and other assets   € 530   € 510 Property, plant, and equipment   420   380 Investments   10   10 Current assets           Prepaid expenses €120   €160     Inventory 430   390     Accounts receivable (net) 470   433     Cash and cash equivalents  330  1,350  360  1,343     Total assets   €2,310   €2,243 Equity   €1,020   €1,040 Non‐current liabilities   390   393 Current liabilities      900      810     Total equity and liabilities   €2,310   €2,243     Evoc CompanyIncome StatementsFor the Years Ended December 31   2020 2019 Sales revenue €4,000 €3,600 Costs and expenses       Cost of goods sold 984 895   Selling and administrative expenses 2,400 2,330   Interest expense 10 20     Total costs and expenses 3,394 3,245 Income before income taxes 606…

The condensed financial statements of Evoc Company for the years 2019 and 2020 are presented as follows. Evoc CompanyStatements of Financial PositionDecember 31   2020 2019 Intangibles and other assets   € 530   € 510 Property, plant, and equipment   420   380 Investments   10   10 Current assets           Prepaid expenses €120   €160     Inventory 430   390     Accounts receivable (net) 470   433     Cash and cash equivalents  330  1,350  360  1,343     Total assets   €2,310   €2,243 Equity   €1,020   €1,040 Non‐current liabilities   390   393 Current liabilities      900      810     Total equity and liabilities   €2,310   €2,243     Evoc CompanyIncome StatementsFor the Years Ended December 31   2020 2019 Sales revenue €4,000 €3,600 Costs and expenses       Cost of goods sold 984 895   Selling and administrative expenses 2,400 2,330   Interest expense 10 20     Total costs and expenses 3,394 3,245 Income before income taxes 606…

3M CONSOLIDATED BALANCE SHEETS (In millions) ASSETS Dec 31, 2019 Dec 31, 2018 Cash & cash equivalents $ 2,353 $ 2,853 Accounts receivable, net allowances of $161 and $95 4,791 5,020 Inventories 4,134 4,366 Prepaid expenses 704 741 Other current assets 989 729 Total current assets 12,971 13,709 Property, plant and equipment, net 9,333 8,738 erating lease right-of-use assets 858 Goodwill 13,444 10,051 Other intangible assets, net 6,379 2,657 Other long-term assets 1,674 1,345 Total assets $ 44,659 $36,500 LIABILITIES & STOCKHOLDERS’ EQUITY Short-term borrowings and current portion of long-term debt Accounts payable $ 2,795 $ 1,211 2,228 2,266 Accrued salaries 702 749 Accrued income taxes 194 243 Current operating lease liabilities 247 Other current liabilities 3,056 2,775 Total current liabilities 9,222 7,244 Long-term debt Pension and postretirement benefits 17,518 13,411 3,911 2,987 Long-term operating lease liabilities Other long-term liabilities б07 3,275 3,010 Total liabilities…