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- Common size analysis of the balance sheet expresses each item as a percentage of the _____________. Total Asset Revenue Base year figure Current assetQuestion 1 :A farmer reports the following financial information for 2020 operation: Current assets Net worth, end of year Depreciation ... Operating expenses Ratio of total liabilities to net worth . 200,000 200,000 20,000 60,000 3 Proprietor withdrawals Change in inventory Capital purchases Operating receipts Noncurrent assets Current liabilities 50,000 30,000 40,000 200,000 400,000 100,000 I. a. Use this information to formulate an annual income statement. b. Complete the year-end balance sheet. Assets Liabilities & Net Worth Current Current Noncurrent Noncurrent Net Worth Total Total c. Indicate the beginning-of-year net worth.Matching Type A. Intangible Assets B. Contra asset C. Allowance for doubtful Accounts D. Current liabilities E. Unearned Revenues F. Accumulated Depreciation G. Permanent Accounts H. Report Form I. Prepaid expenses J. Account Form Required: From the list of terms above, select the one that relates to each of the following statements: 1. The balance in this account is deducted from the cost of the related asset- equipment or buildings-to obtain book value. 2. It expects to settle the liability in its normal operating cycle. 3. A form of the SFP that shows asset accounts first and then liabilities and owner's equity accounts after. 4. Are those accounts that are presented under the assets portion of the SFP but are reductions to the company's assets. 5. This represents the estimated amount that the company may not be able to collect from delinquent customers. 6. A form of the SFP that shows assets on the left side and liabilities and owner's equity on the right side. 7. Their balances…
- 14 - What is the name given to assets purchased to be used in operating activities for a year or longer than the normal operating period?A) Fixed Assets B) Stock ValuesC) Financial AssetD) Current Assets E) Commercial AssetsFind out the missing value assets in an accounting equation if liabilities is OMR 320000 and capital is OMR 119000 Select one : O a . OMR 439000 assets O b . OMR 201000 assets O c . OMR 349000 assets O d . OMR 102000 assets Clear my choiceA condensed balance sheet for Simultech Corporation and a partially completed vertical analysis are presented below. Required: 1. Complete the vertical analysis by computing each missing line item as a percentage of total assets. 2-a. What percentage of Simultech's total assets relate to inventory? 2-b. What percentage of Simultech's total assets relate to property and equipment? 2-c. Which of these two asset groups is more significant to Simultech's business? 3. What percentage of Simultech's assets is financed by total stockholders' equity? By total liabilities? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Req 20 Req 3 Complete the vertical analysis by computing each missing line item as a percentage of total assets. (Round your answers to the nearest whole percent.) SIMULTECH CORPORATION Balance Sheet (summarized) January 31 (in millions of U.S. dollars) Cash $ 1,388 53 % Current Liabilities $ 914 35 % Accounts Receivable 249 10 % Long-Term…
- For both the Current Year and 1 Year Ago, compute the following ratios (2) Total asset turnover.Assets that are expected to be converted to cash, sold, or used up during the next 12 months, or within the business's normal operating cycle if the cycle is longer than a year, are called ________ assets. A. long−term B. intangible C. plant D. currentJournalize the selected transactions
- Financial statement data for years ending December 31 for Xiong Company follow: Year 2 Year 1 Sales $1,560,000 $1,026,000 Fixed assets: Beginning of year 580,000 500,000 End of year 620,000 580,000 a. Determine the fixed asset turnover ratio for Year 1 and Year 2. Round your answers to one decimal place. Fixed asset turnover Year 1 Year 2 b. Does the change in the fixed asset turnover ratio from Year 1 to Year 2 indicate a favorable or an unfavorable change? Favorable FeedbackWrite & Insert Fields Preview Results Finish The following are extracts from the financial records of COF (Pty) Ltd for the year ended 30 June 2021: Extract from the statement of profit or loss and other comprehensive income for the year ended 30 June 2021 30 June 2021 R Revenue from sale of goods 920 000 Cost of sales Profit on sale of non-current assets Commission income 490 000 31 000 23 000 Audit fees 84 000 Depreciation Interest expense (finance cost) Income tax expense 72 000 20 000 87 000 Profit for the year (after tax) Extract from the statement of financial position as at 30 June 2021 BACHELOR OF COMMERCE YEAR1- ACADEMIC AND ASSESSMENT CALENDAR - DISTANCE + REGENT BUSINESS SCHOOL (RBS) - JANUARY 2021 43 123 000 30 June 2021 30 June 2020 302 000 690 000 292 000 Inventories Trade receivables Trade payables Taxation payable Prepaid expenses Accrued expenses Required: 720 000 400 000 385 000 75 000 60 000 2 000 8 000 84 000 88 000 Prepare only the "Cash generated by operations"…1. How much is the gross profit for the year ended December 31, 2021? 2. How much is the gain on sale of delivery equipment for the year ended December 31, 2021? 3. How much is the operating expenses (EXCLUDING DEPRECIATION) incurred for the year ended December 31, 2021? 4. How much is the depreciation expense for the year ended December 31, 2021? 5. How much is the net income before income tax for the year ended December 31, 2021?