A list of financial statement items for Sunland Corporation includes the following accounts receivable 513,400; cash $16,400. inventory $8,400; supplies $2,500: prepaid insurance $3,100; accumulated depreciation-buildings $31.300; accumulated depreciation-equipment $24.400; buildings $111,500; equipment $69,300; and tand $65.400 Prepare the assets section of the statement of financial position. (List Current Assets in order of liquidity, List Property, Plant, and Equipment in order of Land, Bulldings and Equipment.) SUNLANDCORPORATION Statement of Financial Position (Partial) Assets
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A list of financial statement items for Sunland Corporation includes the following
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- Below is the ledger of XYZ Company Account Titles Amount Accounts Receivable 259,345.00 Accumulated depreciation - Buildings 484,180.00 Accumulated depreciation - Furniture and Fixtures 139,766.00 Accumulated depreciation - Manufacturing Equipments 182,228.00 Allowance for Doubtful Accounts 54,300.00 Bonds Payable 560,000.00 Buildings 1,152,637.00 Cash in Bank 535,445.00 Cash on Hand 58,598.00 Current portion of Long-term Notes Payable Finished goods 250,000.00 17,068.00 Furnitures and Fixtures 346,641.00 Income Taxes Payable Land 52,053.00 926,747.00 Leasehold Improvements 350,600.00 Long-term Notes Payable Manufacturing Equipments Money Market Fund 1,750,000.00 345,234.00 32,578.00 Mortgage Payable 460,000.00 Patents 889,467.00 Petty Cash Fund 30,000.00 Raw materials 490,063.00 S. Martin, Capital 1,766,056.00 Salaries Payable 45,608.00 Short-term investments 360,614.00 Trade Accounts Payable 254,900.00 Treasury Bills 203,514.00 Unearned Revenue 67,573.00 Utilities Payable Work in…Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $30,938 Accounts receivable 73,783 Accrued liabilities 6,018 Cash 21,759 Intangible assets 39,588 Inventory 77,887 Long-term investments 90,632 Long-term liabilities 70,645 Notes payable (short-term) 29,117 Property, plant, and equipment 681,325 Prepaid expenses 2,714 Temporary investments 33,204 Based on the data for Harding Company, what is the amount of working capital? Oa. S143,274 Ob. s678,611 Oc. s1,020,892 d. s209.347 Previous Next 3:22 PM a 53°F Sunny A 12/14/2021 %23 2.The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The balance sheet revealed the following: Inventory $ 1,010,000 Total assets $ 3,600,000 Current ratio 2.20 Acid-test ratio 1.20 Debt to equity ratio 1.5 Complete the Following 1. Current Assets 2. Shareholders Equity 3. Long-Term Assets 4. Long-Term Liabilites
- The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The balance sheet revealed the following: Inventory Total assets Current ratio $ 860,000 $ 3,200,000 2.40 1.40 Debt to equity ratio 1.5 Acid-test ratio Required: Determine the following balance sheet items: 1. Current assets 2. Shareholders' equity 3. Long-term assets 4. Long-term liabilitiesRequired: Use the following information to prepare a classified balance sheet for Alpha Company at the end of Year 1. Accounts receivable $41,120 Accounts payable 6,905 Cash 14,050 Common stock 40,000 Land 19,000 Long-term notes payable 20,750 Merchandise inventory 27,475 Retained earnings 33,990 Assets Current assets ALPHA COMPANY Classified Balance Sheet As of December 31, Year 1 Total current assets Property, plant and equipment Total property, plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equitySelected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne EnterprisesCurrent assets:Cash and cash equivalents $ 2,494 $ 541Current investments 125Net receivables 1,395 217Inventory 10,710 8,600Other current assets 773 301Total current assets $15,372 $9,784Current liabilitiesCurrent debt $ 1,321 $ 47Accounts payable 8,871 5,327Other current liabilities 1,270 2,334Total current…
- The following information pertains to Dallas Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments $41,706 Accounts receivable (net) 32,359 Inventory 33,536 Property, plant, and equipment 244,092 Total Assets $351,693 Liabilities and Stockholders' Equity Current liabilities $67,811 Long-term liabilities 92,969 Common stock, $20 par 125,380 Retained earnings 65,533 Total Liabilities and stockholders' equity $351,693 Income Statement Sales $85,174 Cost of goods sold 38,328 Gross margin $46,846 Operating expenses 28,378 Net income $18,468 Number of shares of common stock 6,269 Market price of common stock $20 Dividends per share $1.00 Cash provided by operations $40,000 What is the return on stockholders' equity? a.28.2% b.1.1% c.6.9% d.2.9%A comparative balance sheet and an income statement for Burgess Company are given below: Burgess CompanyComparative Balance Sheet(dollars in millions) Ending Balance Beginning Balance Assets Current assets: Cash and cash equivalents $ 55 $ 113 Accounts receivable 800 732 Inventory 730 674 Total current assets 1,585 1,519 Property, plant, and equipment 1,665 1,628 Less accumulated depreciation 866 699 Net property,plant, and equipment 799 929 Total assets $ 2,384 $ 2,448 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 292 $ 176 Accrued liabilities 196 154 Income taxes payable 109 88 Total current liabilities 597 418 Bonds payable 495 760 Total liabilities 1,092 1,178 Stockholders' equity: Common stock 225 225 Retained earnings 1,067 1,045 Total stockholders' equity 1,292 1,270 Total liabilities and stockholders' equity $ 2,384 $ 2,448 Burgess CompanyIncome…Brock Company's financial information is as follows. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Line Item Description Amount Cash and short-term investments $38,295 Accounts receivable (net) 31,903 Inventory 28,357 Property, plant, and equipment 286,566 Total assets $385,121 Liabilities and Stockholders’ Equity Line Item Description Amount Current liabilities $60,915 Long-term liabilities 88,993 Common stock, $10 par 69,670 Retained earnings 165,543 Total liabilities and stockholders’ equity $385,121 Income Statement Line Item Description Amount Sales $91,601 Cost of goods sold (41,220) Gross profit $50,381 Operating expenses (28,458) Net income $21,923 Number of shares of common stock 6,967 Market price of common stock $33 What is the current ratio? Round your answer to two decimal places.
- The following information pertains to Dallas Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Line Item Description Amount Cash and short-term investments $35,940 Accounts receivable (net) 27,501 Inventory 32,905 Property, plant, and equipment 244,703 Total assets $341,049 Liabilities and Stockholders’ Equity Line Item Description Amount Current liabilities $66,328 Long-term liabilities 99,677 Common stock, $20 par 101,260 Retained earnings 73,784 Total liabilities and stockholders' equity $341,049 Income Statement Line Item Description Amount Sales $88,038 Cost of goods sold (39,617) Gross profit $48,421 Operating expenses (29,760) Net income $18,661 Line Item Description Amount Shares of common stock 5,063 Market price per share of common stock $20 Dividends per share $1.00 Cash provided by operations $40,000 What is the…Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ($ in millions) ACME Corporation Wayne Enterprises Current assets: Cash and cash equivalents $519 $185 Current investments 7 461 Net receivables 618 106 Inventory 10, 645 7,609 Other current assets 1,251 155 Total current assets $13,040 $8,516 Current liabilities: Current debt $7,621 $4,464 Accounts payable 1,707 961 Other current liabilities 1, 148 2,552 Total current liabilities $10,476 $7,977 Required: 1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. 1-b. Which company has the more favorable ratio? 2-a. Calculate the acid-test (quick) ratio for ACME Corporation and Wayne Enterprises. 2-b. Which company has the more favorable ratio?Blythe Industries reports the following account balances: inventory of $417,600, equipment of $2,028,300, accounts payable of $224,700, cash of $51,900, and accounts receivable of $313,900. What is the amount of the current assets? a. $46,700 b. $783,400 c. $56,000 d. $975,000 e. $699,700