A list of financial statement items for Kingbird, Inc. includes the following: accounts receivable $28,000; prepaid insurance $5,200; cash $20,800; supplies $7,600; and debt investments (short-term)$16,400.Prepare the current assets section of the balance sheet listing the items in the proper sequence. (List current assets in order of liquidity.)Kingbird, Inc.Partial Balance SheetCurrent Assets20,800Cash28,000Accounts ReceivableSupplies7,600Prepaid Insurance5,20016,400Debt Investments34,800Current Assets

Current assets: The assets which could be converted into cash within one year like accounts…

Answered: A list of financial statement items for…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

This is the financial position of Hospital AMIH, Inc. regarding the repayment of its debts. These are the most relevant data of its financial statements: Total revenues $ 245,000 Total expenses $ 145,000 Depreciation $ 10,000 Changes in receivable accounts +$ 50,000 Changes in inventory ($ 20,000) Changes in accounts payable ($ 25,000) Total current liabilities $ 30,000 Total long-term debt $ 45,000 cash flow (total margin + depreciation expense) + interest expense/principal payment + interest expense Calculate the operating cash flow.
Prepare the balance sheet and income statement by rearranging the above items. Note: Be sure to list the assets and liabilities in order of their liquidity. Enter all amounts as positive values. Cash Receivables Inventories BALANCE SHEET Assets Liabilities and Shareholders' Equity $ 15 Payables $ 35 35 Debt due for repayment 25 50 Total current assets $ 100 Total current liabilities $ 60 Property, plant, and equipment 520 Long-term debt Total liabilities 350 $ 410 Net fixed assets Total assets $ 520 Shareholders' equity 90 $ 620 Total liabilities and shareholders' equity $ 500
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Determine the amount of long-term debt for ABC Co. using the following balance sheet information: cash balance of $24,700, accounts payable of $96,526, common stock of $401,347, retained earnings of $501,930, inventory of $205,420, other assets equal to $77,911, net plant and equipment of $706,520, short-term notes payable of $30,000, and accounts receivable of $142,714. Long-Term Debt %24
Presented below is selected financial data for Teague Industries for the current year: Current assets: Current liabilities Cash and cash equivalents $3503 Accounts payable $5385 Short-term investments 1555 Other current liabilities 2892 Receivables, net 1811 Total current liabilities 8277 Merchandise inventories 6205 Noncurrent liabilities 5196 Other current assets 1975 Shareholders' Equity 6250 Total current assets 15,049 Total liabilities and shareholders' equity $19,723 Noncurrent assets 4674 Total assets $19,723 Revenues $50,826 Costs and Expenses 45,963 Operating Income 4,863 Other income/expense (including interest expense of $60) (36) Income before income tax 4827 Income tax expense (1449) Net income $3378 Previous Years' Financial Data Total Assets $17,020 Shareholders' Equity 4000 The financial leverage for Teague Industries is ________. (Round your answer to two decimal places, X.XX.)
Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $36,767 Accounts receivable 74,993 Accrued liabilities 6,681 Cash 17,378 Intangible assets 41,965 Inventory 83,039 Long-term investments 90,147 Long-term liabilities 70,154 Marketable securities 39,256 Notes payable (short-term) 24,477 Property, plant, and equipment 689,894 Prepaid expenses 1,932 Based on the data for Harding Company, what is the amount of working capital?
The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Line Item Description Current Year Previous Year Current assets: Cash $417,200 $318,000 Marketable securities 483,100 357,800 Accounts and notes receivable (net) 197,700 119,200 Inventories 1,167,500 905,200 Prepaid expenses 601,500 578,800 Total current assets $2,867,000 $2,279,000 Current liabilities: Accounts and notes payable (short-term) $353,800 $371,000 Accrued liabilities 256,200 159,000 Total current liabilities $610,000 $530,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Line Item Description Current Year Previous Year 1. Working capital ? ? 2. Current ratio ? ? 3. Quick ratio ? ? from the preceding year to the current year. The working capital, current ratio, and quick…
1. The following accounts appeared on the partial Balance Sheet of Brandy Inc.: Accounts Payable Accounts Receivable $ 5,500 2,300 2,820 3,000 8,140 18,560 18,760 100 Bank Loan Cash Common Stock Inventory Long-term debt Machinery What is the total amount of all assets (rounded to the nearest dollar)?
Determine the amount of long-term debt for ABC Co. using the following balance sheet information: cash balance of $24,429, accounts payable of $97,423, common stock of $400,517, retained earnings of $500,749, inventory of $207,068, other assets equal to $77,098, net plant and equipment of $706,191, short-term notes payable of $30,000, and accounts receivable of $142,586.
The balance sheet and income statement for J. P. RObard Manufatcuring Company are as follows: Item Cash J.P. Robard Manufacturing Company Balance Sheet as at 31 December 2021 ($ in thousands) 500 Account receivable Inventory Total current assets Net fixed assets Total assets Accounts payable Accrued expenses Short-term notes payable Total curernt liabilities Long-term debt Total common equity Total liabilities and equity 2,000 1,000 3,500 4,500 8,000 1,100 600 300 2,000 2,000 4.000 8,000
Given the information below, determine the free cash flow for 2014. Income Statement (In Thousands) Sales Operating costs EBITDA Depreciation Earnings before interest and taxes Interest (8%) Earnings before taxes Taxes (40%) Net income Common dividends 2014 2013 $24,800.00 $22,000.00 $14,880.00 $13,200.00 $9,920.00 $8,800.00 -$920.00 $800.00 $9,000.00 $8,000.00 -$112.00 -$160.00 $8,888.00 $7,840.00 -$3,555.20 -$3,136.00 $5,332.80 $4,704.00 $2,082.00 $2,352.00
Selected financial data for Wilmington Corporation is presented below. WILMINGTON CORPORATION Balance Sheet As of December 31 Year 7 Year 6 Current Assets Cash and cash equivalents $ 634,527 $ 335,597 Marketable securities 166,106 187,064 Accounts receivable (net) 284,226 318,010 Inventories 466,942 430,249 Prepaid expenses 60,906 28,060 Other current assets 83,053 85,029 Total Current Assets 1,695,760 1,384,009 Property, plant and equipment 1,384,217 625,421 Long-term investment 568,003 425,000 Total Assets $3,647,980 $2,434,430 Current Liabilities Short-term borrowings $ 306,376 $ 170,419 Current portion of long-term debt 155,000 168,000 Accounts payable 279,522 314,883 Accrued liabilities 301,024 183,681 Income taxes payable 107,509 196,802 Total Current Liabilities 1,149,431…

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS