At June 30AssetsCashIKIBAN INCORPORATEDComparative Balance SheetsAccounts receivable, netInventoryPrepaid expensesTotal current assetsEquipmentAccumulated depreciation-EquipmentTotal assetsLiabilities and EquityAccounts payableWages payableIncome taxes payableTotal current liabilities.Notes payable (long term)Total liabilitiesEquityCommon stock, $5 par valueRetained earningsTotal liabilities and equitySalesCost of goods soldGross profit2021$ 104,50072,50068,8004,900Other gains (losses)Gain on sale of equipmentIncome before taxesIncome taxes expenseNet income250,700129,000(29,500)$ 350,200Operating expenses (excluding depreciation)Depreciation expense$ 30,0006,5003,90040,40035,00075,400230,00044,800$ 350,200IKIBAN INCORPORATEDIncome StatementFor Year Ended June 30, 20212020$ 49,00056,00094,0006,400205,400120,000(11,500)$ 313,900$ 37,50016,0004,80058,30065,000123,300165,00025,600$313,900$ 703,000416,000287,00072,00063,600151,4002,500153,90044,390$ 109,510Additional Informationa. A $30,000 notes payable is retired at its $30,000 carrying (book) value in exchange for cash.b. The only changes affecting retained earnings are net income and cash dividends paid.c. New equipment is acquired for $62,600 cash.d. Received cash for the sale of equipment that had cost $53,600, yielding a $2,500 gain.e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement.f. All purchases and sales of inventory are on credit. (2) Compute the company's cash flow on total assets ratio for its fiscal year 2021.Choose Numerator:Cash Flow on Total Assets RatioChoose Denominator:Cash Flow on Total Assets RatioCash flow on total assets ratio

The ratio states the capacity of the total assets of the company in generating operating cash flow…

(2) Compute the company's cash flow on total assets ratio for its fiscal year 2021. Cash Flow on Total Assets Ratio Choose Denominator: Choose Numerator: RICAN Cash Flow on Total Assets Ratio Cash flow on total assets ratio

(2) Compute the company's cash flow on total assets ratio for its fiscal year 2021. Cash Flow on Total Assets Ratio Choose Denominator: Choose Numerator: RICAN Cash Flow on Total Assets Ratio Cash flow on total assets ratio

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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Dec. 31, 2020 Dec. 31, 2019 Assets Current assets: Cash and cash equivalents $248,005 $419,465 Accounts receivable 38,283 34,839 Inventory 15.043 15,332 Prepaid expenses and other current assets 39,965 34,795 Income tax receivable 58,152 16,488 Investments 415,199 338,592 Total current assets 814.647 859,511 Property, plant, & equipment, net 1,217.220 1,106,984 Long-term investments 622,939 496.106 Other assets 70,260 64,716 Total assets $2,725,066 $2,527,317 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $85,709 $69,613 Accrued payroll and benefits 64,958 73,894 Accrued liabilities 129,275 102,203 Total current liabilities 279,942 245,710 Deferred liabilities 284.267 240,975 Other liabilities 32.883 28,263 Total liabilities 597,092 514,948 Shareholders' equity: Common stock 358 354 Additional paid-in capital 954,988 861.843 Retained earnings 1,172.628 1,150,172 Total shareholders' equity 2,127,974 2,012.369 Total liabilities and shareholders' equity…
You have been asked to prepare the statement of cash flows for Neo Ltd for the year ended 30 November 2021. The most recent income statement and statement of financial position (with comparatives for the previous year) of Neo Ltd are set out below. Neo Ltd – Income Statement for the year ended 30 November 2021 Revenue 104,567 Cost of sales (71,358) Gross profit 33,209 Profit on disposal of property, plant and equipment 106 33,315 Distribution costs (12,789) Administrative expenses (16,371) Profit from operations 4,155 Finance costs (608) Profit before tax 3,547 Тах (726) Profit for the period 2,821
The following Information is available from the accounting records of Manahan Co. for the year ended December 31, 2019: Net cash provided by financing activities Dividends paid Loss from discontinued operations, net of tax savings of $39,700 Income tax expense Other selling expenses Net sales Advertising expense Accounts receivable Cost of goods sold General and administrative expenses Net sales Cost of goods sold Gross profit Expenses: Required: a. Calculate the operating Income for Manahan Co. for the year ended December 31, 2019. Advertising expense General and administrative expenses Operating income MANAHAN CO. Operating Income Statement For the year ended December 31, 2019 b. Calculate the company's net Income for 2019. Net income $ $119,000 18, 200 119,100 $ 27,288 11,500 646,600 47,000 59,300 368,562 141,800 0 0 0
Use the attached information to complete the ratio analysis. The Ratio Analysis is for Liquidity, Solvency and Profitability
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Financial Statements Prepare the Financial Statements for the fiscal year ended December 31, 2021 for MaBak Inc. Inc. Don't forget the statement dates and dollar signs. Complete the Horizontal and Vertical analysis. Round answers to the whole percent. Account Name Accounts Payable Accounts Receivable (net) Accrued Liabilities Administration Expense Bonds Payable Car (net) Cash Cost of Goods Sold Current Maturities of Long Term Debt Equipment (Net) Income Tax Expense Inventory Amount Account Name Investments - Long Term Land- not in use, to be sold in 5 Marketable Securities $ 42,000 30,000 3,000 30,000 Net Sales 20,000 Notes Payable - Long 32,000 Notes Receivable 50,000 20,000 Other Income Other Expense (interest) 12,250 Selling Expense 12,000 Supplies 4,400 Taxes Payable 40,000 Unearned Sales Revenue 12,000 25,000 5,000 135,000 13,000 2,000 7,600 4,000 44,000 7,500 17,750 13,000
1. Calculate the cash operating cycle of Stone Limited for the year ended 30 April, 2018 and 2019.2. Calculate the comparative ratios for Stone limited for the year ended 30 April 2019. (to two decimal places where appropriate).3. Based on the result of the previous year end and the industry average. Draft a report addressed to the Board of Directors of Stone Limited analysing the performance of the company for the year 2019
Perform a horizontal analysis for the balance sheet entry "Cash" given below. That is, find the amount of increase or decrease (in $) and the associated percent (rounded to the nearest tenth).
Show your workings for the question below; The summarised financial statements of LL Limited are as follows:” Profit & Loss Account/Income Statement for the year ended 31 December 2020 £000 Operating profit 80 Investment income 5 Interest payable (7) Profit before taxation 78 Taxation (14) Profit after taxation 64 Dividends payable (20) Retained profit 44 Balance Sheets 2020 2020 2019 2019 £000 £000 £000 £000 Fixed/Non-current assets Cost 370 290 Depreciation (70) (50) 300 240 Current assets Stock/inventory 95 70 Trade debtors/receivables 75 56 Short-term deposits 35 26 Bank 44 249 152 Current liabilities Trade creditors/payables 40 45 Interest payable 18 23 Taxation payable 10 12 Dividends payable 15 22 Bank…
Prepare the following financial reports for the month of January 2020: a) Income Statement b) Balance Sheet c) Statement of Financial Position d) Statement of Cash Flows See the tabulation table.