JRE300 Assignment 1

pdf

School

University of Toronto *

*We aren’t endorsed by this school

Course

300

Subject

Finance

Date

Jan 9, 2024

Type

pdf

Pages

Uploaded by AgentLightning12205

JRE300H1S– Foundations of Accounting and Finance –Project Part I First Name Mohammad Hasan Last Name Zahir Student # 1008994199 Section: 101 First Name Affan Last Name Amir Student # 1008909585 Section: 101 First Name Valeria Last Name Gordillo del Cid Student # 1009559906 Section: 101 First Name Last Name Student # Section: Project part 1:

A: I. Suncor Energy Inc. (referred to as “Suncor” within this report) is a Canadian integrated (value chain-wide) Oil and Gas company that provides energy through oil refinement. The business primarily deals with the extraction, refinement, production, and development of Canadian Oil Sands, inclined towards the Canadian southwest and based in Calgary, Alberta. (SUNCOR ENERGY Inc, 2023,p17) Additional operations include offshore oil and gas ventures and using their nationwide wholesale distribution network, incorporating Canada’s Electric Highway TM and Petro-Canada TM . Suncor’s main business activities come from the purchasing and selling of natural gas and production-related by-products. Suncor is a publicly traded company (symbol: SU) listed on both the New York Stock Exchange and the Toronto Stock Exchange. (SUNCOR ENERGY Inc, 2023, p17) II. Suncor is Canada’s largest integrated oil and gas company and maintains prominence by being the fifth-largest North American Energy Company. Its corporate and business strategy focuses on the optimization of existing large-scale, small-scale, and industry-specific production assets as well as its position within the industry itself. It leverages its large portfolio in both the extraction and refinement sectors as well as its large stake in commercialized distribution networks. The company establishes itself in the secure, long-running oil and gas sector with dedicated and trusted revenue channels. Additionally, it focuses on both high-return investments that maximize long-term sustainable capitalization including hydrogen-based energy production and other renewable fuels in its slow transition towards net-zero greenhouse gasses by 2050. (SUNCOR ENERGY Inc, 2023, p 18) Suncor’s customer base includes a mid-to-large range of commercial and industrial consumers. Its integrated whole distribution network affords it a long reach over market share as a leading competitor in the consumer-level front-facing diesel and fuel-selling business. Suncor primarily focuses on large-scale project-specific goods supplies as asset procurement and general value chain processes are internally maintained. Primary suppliers provide industrial metal and stainless steel equipment including wiring from companies like Posco, Ningbo Metals & Wire Rope Fittings, and Nation Long Industries Co,.Ltd among others based in Europe and Asia. (S&P Global, n,d) Famous market competitors include other large stakeholders in the Oil and Gas business including Enbridge Inc., Imperial Oil Ltd., Canadian Natural Resources Ltd., and others. (Chaudry, 2022) These companies own both value-chain-wide monopolies and large sectors of national and international business. A noticeable change mentioned within the annual report important to investors is a $70 million non-cash impairment charge in its Norwegian assets due to a long-term signing contract in addition to a $3.397 billion non-cash impairment held against its subsidiary Fort Hills’ assets within the Oil Sands sector. (SUNCOR ENERGY Inc, 2023, p 21) III. From net earnings information within the annual report, non-cash impairments on long-term and high-risk investments lead to greater net loss and a poor reflection on investment practices within the business. This may lead to a reduction in general goodwill, possibly reflecting common share prices. They are susceptible to industry-wide issues including financial risks due to volatile pricing ranges and oil’s inherent sensitivity to prospective trends in technology and development. In 2020, the company recorded a non-cash impairment of $1.821 billion due to the financial impacts of COVID-19. (SUNCOR ENERGY Inc, 2023, p 29) Suncor's Environmental and safety liabilities include the emission of greenhouse gasses, leaks, and faults in infrastructure. Failures in management systems may

lead to catastrophic financial, global, and social repercussions. As stated in the Risk Management Section, they incur substantial credit risk due to the position of oil and gas through industry standards, as well as liquidity risk. Suncor allocates a certain portion of its earnings through predictable estimates of debt issued, current market position, and other factors to ensure that necessary short-term and long-term arrangements are met. The company generally invests its surplus cash into securities ranging from one to five years. (SUNCOR ENERGY Inc, 2023, p 17) Recording low net operating income may be reflected poorly in dividend yields, cash(SUNCOR ENERGY Inc, 2023, p 21) total debt coverage, and other sectors. Suncor addresses market risks, including the volatility of commodity pricing and its sensitivity to ongoing events as well as foreign currency exchange risk. Suncor primarily operates under standard Canadian currency (CAD) while its debt denomination and exchange of goods with the United States is dependent on current exchange rates, thus fluctuating net earnings. Suncor is susceptible to interest rate differentials and volatile industry standards, to mitigate this, they regularly swap contracts to ensure a stable interest rate. They are exposed to fluctuating interest on the floating rate portion of Suncor’s debt. (SUNCOR ENERGY Inc, 2023, p 21) In 2022, Suncor reported a loss of $729 million due to the revaluation of U.S. dollar denominational debt. Volatile pricing leads to unstable gains and losses on commercialized products from quarter to quarter, additionally, a loss of equipment or degradation of assets is reflected in its net realizable value, decreasing its effectiveness and gains from selling it. A surplus of gas and general inventory, as seen in the 2020 COVID-19 crisis, generally reflects poorly across all financial statements due to the propagating effects of low net revenue. IV. Suncor’s objective is to provide useful, accurate, and relevant financial information based on their management of assets, methods of operation, and position within the industry to inform potential stakeholders, including lenders, investors, and general creditors, of the company’s financial viability and returns from future operations. In this respect, it is beneficial for Suncor to be as conciliatory as possible, however, they are praised for their transparent and impartial reporting standard industry-wide. Suncor states they operate their business with the intent of prioritizing and maximizing shareholder returns. Key stakeholders include investors and shareholders- among them are sizable Mutual Funds and Asset Management Corporations - as well as current and future creditors. (CNN BUSINESS, 2023) The main concern of stakeholders includes their return on investment and dividend yields. Suncor does not provide preferred dividends to its shareholders. They increase value for shareholders by increasing the number of common shares repurchased ($5.1 billion in 2022) and dividends paid ($2.6 billion in 2022). Shareholders are interested in the increase in common shares, reflected from funds of operation and the potential for further gains through information on future operating procedures and prospective earnings. A typical indicator of increased earnings year over year is the increase in the price of a single barrel of crude oil (US$/bbl) to different customers globally. (SUNCOR ENERGY Inc, 2023, p 24) The 2022 annual report demonstrates a significant increase in prices worldwide over the last two years. An additional advantage of financial statements is that they provide stakeholders with an overview of operational activities. V. Throughout the annual report (i.e. Pages 29, 88, 101..etc), all values within financial statements are units mentioned in ($ millions) or ($ billion) units unless otherwise specified. This is in accordance with the monetary unit assumption, which states financial statements

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

only include measurable monetary units. Additional information, if necessary, is provided in appendices or notes relating to individual respective values. On page 29 of the annual report (Figure 1), Suncor illustrates the Financial Highlights for the year ended December 31. To display accurate information and demonstrate clarity in its assumptions and statement, important monetary values are provided from annual periods running from 2020 through 2022 for ease of comparability. An example of notary clarification is indicated through subnote (3), Assets Impairment. The amount indicated in the 2020 financial report fo $1,821 billion dollars is clarified to be a result of a worldwide global crisis, providing relevant and important information to financial statement users. These are all examples of faithful representation prevalent throughout the annual report Page 14 (Figure 2) demonstrates understandability by providing a Financial Summary covering the major income statement, statement of retained earnings, and balance sheet values clearly. Items are listed clearly and in order of revenues, earnings, cash from operating activities, dividends paid, retained earnings, and total assets and liabilities among others. Any reasonably informed individual could extract pertinent information from this statement and utilize it to predict future earnings, calculate ratios, and comprehend it fully. Any esoteric information or clarifications are provided through notes such as sub-note (1) to further expand on any unclear values or labels. The conceptual framework principle of Periodicity is also exemplified in Quarterly Financial Data reports provided on page 44 of the annual report.

B: Table 1 highlights some metrics. All figures are in millions of Canadian Dollars except all per share amounts which are in CAD. The numbers exemplified are from 2022. Table 1: Metrics calculated for 2022 and 2021. Metric 2022 2021 Additional notes Liquidity Working Capital 1667 578 Total current liabilities: 12 869 Total current assets: 14 536 Current ratio 1.1295 1.055 Receivables turnover 11.0 10.2 Average gross receivables: (6068+4534)/2 Average collection period 33.2 35.8 Inventory turnover 7.326 6.511 Cost of Goods sold: 20775+12807 Includes the “purchases of crude oil and products” and “operating, selling and general” Average Inventory = (5058+4110)/2 Days in inventory: 49.8 56.1 Cash to Current Debt Coverage 1.35 1.12 Solvency Debt to total assets 0.53 0.562 Total assets: 84618 Depreciation:8786 Total liability: 84 618 - 39367 Capital expenditure: 5120 Dividends: 2596 Note that Suncor does not pay preferred dividends. Free cash flow 10560 7353 Times Interest Earned 15.13 8.18 Cash to Total Debt Coverage 0.339 0.245 Profitability 0.144 0.156

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

Profit Margin Return on Assets 0.1078 0.0489 Asset Turnover 0.747 0.310 Return on Common Shareholders' Equity 0.196 0.114 Earnings Per Share (diluted) 6.53 2.77 Share price: 42.95 on December 31st in the Toronto Stock Exchange. Payout Ratio 0.29 0.38 Dividend Yield 4.4% 3.3% Market Capitalization 57.86B 47.095B Based on these ratios, Suncor’s performance and financial health are in a good spot; however, there is some concern around its ability to address its long term liabilities. Overall they seem to be operating under revenue maximization; they have a healthy asset turnover which might account for the slim profit margins. They are more liquid than last year, as showcased by their ratios which include an increase from 578 to 1667 million in working capital and one in inventory turnover. Both the EPS and the market capitalization increase highlight an increase in profitability and confidence in further profits. C: [A] The 4 ratios seen in the table below are all examples of liquidity ratios. Liquidity ratios measure the short term ability of companies to pay off their obligations and meet unexpected needs for cash. Imperial, 2022 Suncor, 2022 Working Capital Current Assets - Current Liabilities 10,736 - 8898 = 1838 1667 Current Ratio Current Assets / Current Liabilities 10736 / 8898 = 1.206 1.12 Average Collection Period 365 / Receivables Turnover 365 / 13.83 = 26.34 33.2 Cash to Current debt 10482 / 8774.5 = 1.194 1.35

Coverage Cash Provided by Operating Activities / Average Current Liabilities Imperial boasts a better working capital, current ratio, and average collection period than Suncor. The working capital and current ratio are measuring how quickly the company can pay off their debts. In both of these ratios, Imperial demonstrates their capability to pay off their debts. Average collection period tells users’ the number of days it takes the company to receive payments. A low average collection period shows that the management team at Imperial are running the company more efficiently than Suncor. The cash to current debt coverage represents the companies ability to pay off their debts in cash. Suncor displays a slightly better ratio for this, indicating they are more prepared to cover their debts in unexpected situations. Overall, both companies display healthy liquidity ratios, but Imperial is clearly the better company in terms of being able to pay off their debts and running their company efficiently. With that being said however, Suncor is able to pay off their debts in cash slightly easier than Imperial would be able to. In table 2, the 4 ratios present are profitability ratios. Table 2 Imperial, 2022 Suncor, 2022 Net Profit Margin Net earnings / Net sales 9484 / 904 = 10.49% 14.4% Return on Assets Net earnings / Average Total Assets 9484 / 43667 = 21.7% 10.8% Asset Turnover Net sales / Average Total Assets 59413 / 43524 = 1.36 0.747 Dividend Yield Dividend per share / Market price per share 1.46 / 60 = 2.43 4.4 Suncor outperforms Imperial in the net profit margin and dividend yield ratios. The net profit margin shows the amount the company earns for every dollar in sales, while the dividend yield measures the earnings generated by each share. Suncor’s performance in these tell users’ that the company is a valuable stock that is able to return a large profit on investments. However, the return on assets and asset turnovers are significantly better for Imperial. The return on assets and asset turnover measure the profitability of assets and how efficiently assets are used to generate sales respectively. The fact that Imperial has a

better asset turnover but lower overall net profit margin may mean that the business model Suncor follows is better. Overall Suncor is better at taking users’ investments, and returning a high-profit on them, as well as efficiently generating profit for every sale they make. Imperial displays a high-caliber profitability of assets and nearly doubles Suncor in the efficiency of said assets. This could signify Imperial having a smaller supply of assets, but making a great amount of sales, whereas Suncor makes a smaller number of sales (relative to assets present), but generates lots of profit on each sale. Table 3 contains 2 ratios, both of which are solvency ratios. Solvency ratios measure the ability of a company to survive over long periods of time. Imperial, 2022 Suncor, 2022 Debt to Total Assets Total liabilities / Total Assets 21111 / 43259 = 0.4849 0.339 Cash to Total Debt Coverage Cash Provided by Operating Activities / Average Total Liabilities 10482 / 21322.5 = 0.4915 0.53 Both companies display great solvency ratios, meaning neither company is at risk of becoming a going concern. The debt to total assets shows the percentage of assets that are provided by creditors. Suncor holds a much better position than Imperial in this ratio, as they have a lower ratio. This implies that Suncor relies upon external investors much less than Imperial. Cash to total debt coverage simply measures the ability for the company to pay off their debts. Both companies share a similar ratio, however Suncor’s ratio signifies that they are able to pay off a larger percentage of their debt as compared to Imperial. Overall, both companies have great ratios and are not too reliant on creditors, and they can handle unexpected situations with ease. Suncor’s ratios are slightly better, implying that they may have a better business model than Imperial. [B] Suncor’s strongest points are their dividend yields and net profit margins. These ratios tell users that this company is a safe, low-risk investment which can steadily create a profit on your shares, as well as return a large sum in dividends. Thus, investors in this company are most likely income investors, not growth investors. Imperial is strongest in return on assets and asset turnover, with overall strong liquidity ratios and profitability ratios. Due to Imperial's strong liquidity, they would be able to fund any operations required that they deem necessary to grow the company without issue. Moreover, their return on assets and asset turnover tells investors that the management at Imperial is efficient. The assets generate high earnings, as well as generating overall sales.

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

Imperial also does not return a high dividend yield or net profit margin in comparison to Suncor. This tells investors that they are not going to get a significant amount of income through Imperial’s dividends. Overall, there is significant reason to believe that Imperial will continue to grow further, without returning a large sum of dividends, attracting growth investors. [C] Imperial: Normalizing the net income for Imperial in 2022, we see the net income reduce from $7340 million down to $7224 million. The reason for this is because the company gained $116 million in a sale of interests to XTO Energy Canada (Imperial, 2023, 97). The net income in 2021 was $2479 million. In 2021, Imperial did not report any material irregular gains or losses. The revenue and expenses in 2021 are similar to prior years. The main difference between the two years is that Imperial significantly increased the amount of crude oil and products bought. From $23,174 billion in 2021, to $37,742 billion in 2022. The increase in net income is logical and makes sense. Other notable information includes the fact that the liquidity, solvency and profitability ratios are similar year-to-year. For example, the working capital in 2021 is 2259, opposed to 1838 in 2022. The debt to total assets in 2021 was 0.467, 0.489 in 2022, and the net profit margin is 30.6% in 2021 opposed to 21.6% in 2022. Overall, the company's earnings are sustainable, and it is likely that these levels of earnings can be reached again in future years. Suncor: In 2022, the net income for Suncor was $9077 million. Normalizing for irregular items, the number increases to $1156 million (Suncor Energy Inc, 2023, p3). The net income in 2021 was $4119 million. In 2021, Suncor received insurance proceeds for power outages at Mackay. Accounting for this, the net income becomes $3805 million (Suncor Energy Inc, 2023, p 3). Again, similar to Imperial, the largest differences in net income are largely due to an increase in purchases and sales of goods. The working capital in 2021 was 578, a small number compared to the working capital in 2022 which was 1667. The debt to total assets in 2021 was 0.347, and in 2022 it was 0.53. The net profit margin in 2021 was 10.53% compared to 14.4% in 2022. The results for Suncor are similar to Imperial. Suncor’s earnings are generally sustainable, and can be expected again . Overall for both companies, the material information which required notes were detailed in their annual reports. There seems to have been an industry-wide increase in net-income for companies in the oil industry in 2022, which can be attributed to global affairs and rising prices at this time, so these increases are not unusual or out of the ordinary. In conclusion both companies' earnings are, for the most part sustainable. With relative consistency throughout their years.

References Chaudry, U. (2022, October 24). List of 10 biggest oil and gas companies in Canada in 2022 . Primus Workforce. https://primusworkforce.com/blog/biggest-oil-and-gas-companies-in-canada/#:~:tex t=Enbridge%2C%20situated%20in%20Calgary%2C%20Alberta,energy%20companies %20in%20the%20world. CNN Business. (2023, October 14). SU - Suncor Energy Inc. Shareholders . CNNMoney. https://money.cnn.com/quote/shareholders/shareholders.html?symb=SU&subView= institutional Panjiva. (n.d.). Nation Long Industries Co., Ltd., Shanghai, China: Supplier report . https://panjiva.com/Nation-Long-Industries-Co-Ltd/44463539 Suncor Energy Inc. (n.d.). 2022 Annual Report . SUNCOR. https://sustainability-prd-cdn.suncor.com/-/media/project/suncor/files/investor-cent re/annual-report-2022/2022-annual-report-en.pdf?modified=20230306223235 Imperial. (2023, February 22). Annual Report. 2022 , 1 (1), 200. https://www.imperialoil.ca/-/media/imperial/files/2023-sec/2022-sec-form-10k-imp erial-oil-limited.pdf

Related Documents

BUS 350 Principles of finacechapter 13 smartbok.docx

BUS 350 Principles of finacechapter 9 smart book.docx

BUS 350 Principles of finacechapter 7 smartbook questions.docx

BUS 350 Principles of finaceChapter 8 smartbook.docx

BUS 350 Principles of finace Chapter 12 smartbook.docx

BUS 350 Principles of finace chapter 5 smartbook.docx

FINC 3377 - Assignment 4 (1).docx

C214 Practice Questions.docx

IMG_8959.png

Programming for Finance HW 1.docx

Unit 3 Intellipath Notes Marginal Cost of Capital.docx

Unit 5 Intellipath Notes Project Valuation.docx

Related Questions

Princip X Princip x Princip X , Accorc X O Sophia X * Premie X . UNIT X O icamp. X "strayer.sophia.org/spcc/principles-of-finance-practice-milestone-1-1/5 3 4 5, 6 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 O This is a practice Milestone and does not count towards your score. Question Unit 1 Tutorials A If you need help Question 5 O Mark this question What principle of corporate governance requires companies to operate in ways that respect the social and legal relationships they have with employees and creditors, among others? O Integrity and ethical behavior O Disclosure and transparency O Interests of other stakeholders O Integrity and ethical behavior SAVE AND CONTINUE search

i need help with this question and it has 3 parts. it’s an accounting 2102 question

Learning SE MINDTAP evo/index.html?deploymentid=60338517901669990751687760&elSBN=9780357517642&nbld=3626933&snap... ☆ lomework 6300. 1 mancial Lailuialvi vi a spicoubnicel. Hide Feedback Correct X f6 Quantitative Problem 1: You plan to deposit $2,200 per year for 6 years into a money market account with an annual return of 2%. You plan to make your first deposit one year from today. a. What amount will be in your account at the end of 6 years? Do not round intermediate calculations. Round your answer to the nearest cent. 4 b. Assume that your deposits will begin today. What amount will be in your account after 6 years? Do not round intermediate calculations. Round your answer to the nearest cent. 6 Hide Feedback Incorrect F Check My Work Feedback Review the FVAN definition and its equation. Q Search Understand the difference between an ordinary annuity and an annuity due. Be careful about the order of mathematical operations if using the equation. If using a financial calculator, be…

D2L Ô https://elearn.mtsu.edu/d2l/lms/quizzing/us... A ✩ C D21 Quizzes - Spring 2024 Personal Financial Planning (FIN-2010-D01, ECON-2110-D01) - Middle Tennessee St... 中 X 庙 Unit 6 Homework: Retirement & Estate Pla... 0:07:14 elapsed ✓ + A Question 11 (0.15 points) Retake question You as a young worker decide to use money in your traditional IRA account to pay for an unexpected $8250 expense. If your withdrawal faces a 10% early withdrawal penalty and you pay a marginal tax rate of 20%, how much must you take out of your account in order to pay the expense, the penalty, and the taxes on your withdrawal? Your Answer: Answer Hide hint for Question 11 The total amount you need to withdraw (X) must be the number such that when the penalty and taxes combined, you are

gageNOWv2 | Online teachir X * CengageNOWv2 | Online teachin x om/iln/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre.. eBook Show Me How Long-Term Solvency Analysis The following information was taken from Acme Company's balance sheet: Fixed assets (net) $1,092,000 Long-term liabilities 280,000 Total liabilities 196,000 Total stockholders' equity 980,000 Determine the company's (a) ratio of fixed assets to long-term liabilities and (b) ratio of liabilities to stockholders' equity. If required, round your answers to one decimal place. a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equity Previous Next Check My Work 11:17 A 67°F Sunny A O E O G 40) 12/3/20 delete ome prt se 84l 144 4+ 6 backscace %D

0271 20161 122oint and wong liw vitorioss of 10 2016 621 570111507780002 Question 50 vd mwob 250g abnod to oulay jud asiduob loota to oulsy od viqinda WOT ST6 201611291910 e vibrd, col vimonces adt milt once and T: E renso2 You are given the following information for two assets Uno and Dos: u yo qu909 DOGO TO SLolato sulsv onT reda ai Expected rate of return Variance of return srüster2 (1) 0.0595 0.0384 0.0153 ort ano 0.0153 29:01 ano Asset Uno W bas Wydb Dos rifesw 0.2315 VISM 1 odtwob stiW bus x to noitonuts as zonesse sondt orlt to ross tot visvitsogasn 26 At a market risk premium of 3.5% and a risk-free rate of 2%, determine which asset is considered riskier by analyzing their systematic and unsystematic risks. mvilu a visM szoqquz W bas W. W to noitonuts as vilitu botooqxo a'vM to noia201qxs si nwob in W v bas xto esuley sri bait sidizzoq zi sim ooit-lain odi is gaibasl bas gniwonod goimwezA viilitu botoqxo a'vieM eximixem lliw jedi MOT

What is the correct answer A thru D

7-2 Project: Company Accour x 121. Project Guidelines and Rubric x 121. 7-1 Problem Set: Module Sev X CengageNOWv2 | Online tea now.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator3D&inprogress3false eBook Show Me How Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $224,540 Interest expense 39,620 Average total assets Determine the return on total assets. If required, round the answer to one decimal place. 1.8 Check My Work Divide the sum of net income and interest expense by average total assets. Previa Check My Work ADE dy

Hello accounting tutors. Can you help me to answer this?. kindly see the attached image below or this link >> https://drive.google.com/file/d/1D4KNMJHHVMxVKdYvbABzQLTSijz2ZU9m/view

Can you please answere all the following true/false statements. Thank you

I need help with just part A which is ONE question thank you attached is instructions and and the excel papers thanks :)

I need help with question 6 on how to create the customer pivot table as given. Also, can you provide the steps of how to do that in Excel? Also, please provide the steps in order to solve the problem for Finance.

formation - FIINA222 Class Kapoor, Personal Finance M MHE Reader A https://player-ui.mheducation.com/#/epub/sn_7cac#epubcfi(%2F6%2F116%5Bdata-uuid-84008053bad84db28aaafelaf7ae -> Restaurant spending, $130 Page 110 4. Computing Balance Sheet Amounts. For each of the following situations, compute the missing amount. a. Assets $48,000; liabilities $12,800; net worth $ b. Assets $78,780; liabilities $ ; net worth $13,700. C. Assets $44,280; liabilities $12,265; net worth $ d. Assets $ : liabilities $38,374; net worth $53,795.

Required: Record the payment that Mookie The Beagle Concierge receives from Sandy Copper in payment for services provided Remy. 1. Create Receive Payment. a. From the Navigation Bar, select Projects > Sandy Copper: Remy b. From the Add to project menu, select Receive payment c. Select Payment Date: 01/23/2023 d. Select Payment Method: Check e. Select Deposit to: 1600 Undeposited Funds f. Select Invoice Number 1002 g. After selecting the Invoice, what is the Amount Received displayed? Note: Answer this question in the table shown below. Round your answer 2 decimal places. h. Select Save and close Amount received $ 2. View the Transaction Journal for Receive Payment. a. From the Navigation Bar, select Sales > All Sales tab b. From the Sales Transactions List, select the Sandy Copper: Remy payment just entered c. From the bottom of Receive Payment, select More > Transaction Journal d. What are the Account and Amount Debited? Debit Credit 20.00 Note: Answer this question in the table shown…

What is the answer A thru D?

ECO 232 Chapter 29 Quiz Flashc x pp.edmentum.com/assessments-delivery/ua/qz/launch/49014984/45583594/aHROcHM6Ly9.. Code.org S Home M Gmail W Login - Powered by.. Unit 1 Quiz What do we call the study of the ways in which money is created and used in society? O A global trade O B. bartering OC. monopolies OD. economics Reset Next eserved. CMO W 31

Cashaun Wo x CCU brightspace.wiltech.edu/d2l/le/7659/discussions/topics/2429/View Subscribe New Wave Images is a graphics design firm that prepares its financial statements using a calendar year. Manny Kinn, the company treasurer and vice president of finance, has prepared a classified balance sheet as of December 31. In January, this balance sheet will be submitted along with an application for a loan from First Peoples Community Bank. An excerpt from the balance sheet follows: Cash $ 25,000 Accounts Receivable 85,000 Total Assets $ 250,000 The accounts receivable balance includes a $56,000 loan to Tom Morrow, the company president. Tom borrowed the money from New Wave 18 months earlier for a down payment on a new home. Tom has orally assured Manny that he will pay off the loan within the next year. Because Tom is the company president, Manny treats the amount due as a trade account receivable. In addition, Manny knows that the bank will consider a large balance in trade accounts…

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,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:9781260013962

Author:BREALEY

Publisher:RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:9781337909730

Author:Brigham

Publisher:Cengage

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

SEE MORE TEXTBOOKS