1. Use the accounting equation to compute the missing financial statement amounts.CompanyAssetsLlablitiesEquity12$75,000 =2$40,000+.2$25,00070,000.......3$85,000 =2420,0002. Use the expanded accounting equation to compute the missing financial statement amounts.CompanyAssetsLiabilitiesCommon StockDividendsRevenuesExpenses12440,000 =16,00020,000$2$8,000$80,000 =2$32,000$44,0002$24,0002418,000< Prev7 of 13Next >

An accounting equation refers to a mathematical representation of the transaction. It indicates that…

Answered: 1. Use the accounting equation to…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Selected current year company information follows: Net income Net sales Total liabilities, beginning-year Total liabilities, end-of-year $ 16,553 718,855 89,932 109,201 Total stockholders' equity, beginning-year 204,935 Total stockholders' equity, end-of-year 130,851 What is the return on total assets? (Do not round intermediate calculations.).
You are given the following income statement and balance sheet: Income Statement Sales EBT Taxes (40%) Net Income Cash A/R Inventories Total CA Fixed Assets Total Assets $15,000 $800 $320 $480 Balance Sheet $100 $2,000 $4.000 Accounts Payable Debt Common Stock Retained Eamings $6,100 $1,900 $8,000 Total Claims $1,000 $4,000 $2,000 $1,000 $8,000 Now make the following forecast and assumptions for the upcoming year: Sales are expected to increase by $5.400 over the coming year. All assets and accounts payable can be expressed as a percentage of sales. The firm's profit margin will remain at 3.2 percent. The firm has a dividend payout rate of 75 percent. Using the equation method, determine the additional funds needed for the coming yea
1. Use the following information to prepare an income statement and balance sheet for Pamplin Inc. Pamplin Inc. as of 12/31/2022 Accounts payable $ 200, 000 Accounts receivable 450, 000 Accumulated depreciation 1, 000, 000 Cash 200, 000 Common stock - paid - in - capital 500, 000 Common stock - par value 300, 000 Common stock dividends 30,000 Cost of goods sold 700, 000 Depreciation expense 220,000 Interest expense 50,000 Inventories 550, 000 Long - term debt 600,000 Notes payable 100, 000 Operating expenses 30, 000 Plant and equipment 2, 200,000 Retained earnings 700, 000 Sales 1,200, 000 Taxes 57,000 2. Pamplin Inc has 100,000 shares of common stock outstanding at a current price of $20 per share. Calculate the following: a . Net working capital b. Book value per share c. Market - to - book ratio d. Enterprise value e. Dividend per share (common stock) f. Dividend payout ratio g. What was the addition to retained earnings?
Current Position Analysis The following items are reported on a company's balance sheet: Cash $423,700 Marketable securities 331,000 Accounts receivable (net) 304,500 Inventory 264,800 Accounts payable 662,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place. a. Current ratio fill in the blank 1 b. Quick ratio fill in the blank 2
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…
Interpret the results: • Return on equity • Return on assets • Gross profit margin • Operating profit margin • Net profit margin
< The following items are reported on a company's balance sheet: $296,600 Marketable securities 185,000 Accounts receivable (net) 121,000 Inventory 127,000 Accounts payable 228,000 Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place. Cash a. Current ratio b. Quick ratio
Net Sales COGS Net Income Accounts Receivable Inventory Current Assets Fixed Assets Total Assets Current Liabilities Long-Term Debt Total Liabilities Shareholder's Equity Number of Shares Outstanding now Transcribed Text 1 10586 1582 2936 3333 1 7929 7294 15223 3026 288 3314 11909 7493 G C 2 4048 2025 21 230 44 299 1281 1580 369 245 614 966 48 Questions 1. What company collects its receivables the slowest? 2 w 3 213 66 7 9 16 68 12 80 23 1 24 56 24
Current Position Analysis The following items are reported on a company's balance sheet: Cash $570,800 Marketable securities 445,900 Accounts receivable (net) 448,400 Inventory 318,500 Accounts payable 637,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place. a. Current ratio b. Quick ratio

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