As of April 30, 2017, Marcus Tools has assets of $90,000 and liabilities of $22,000. How much is the owner's equity for Marcus Tools as of April 30, 2017?
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How much is the owner's equity for Marcus tools as of April 30, 2017?
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- How much is the net VAT payable?The following information was available for the year ended December 31, 2016: Earnings before interest and taxes (operating income) $ 120,000 Interest expense 30,000 Income tax expense 35,000 Net income 55,000 Total assets at year-end 400,000 Total liabilities at year-end 200,000 a. Calculate the debt ratio at December 31, 2016. (Round your answer to 1 decimal place.) b. Calculate the debt/equity ratio at December 31, 2016.(Round your answer to 2 decimal places.) c. Calculate the times interest earned for the year ended December 31, 2016.(Round your answer to 2 decimal places.)Included in Outkast Company’s December 31, 2017, trial balance are the following accounts: Prepaid Rent $5,200, Debt Investments (to be held to maturity until 2020) $56,000, Unearned Fees $17,000, Land (held for investment) $39,000, and Notes Receivable (long-term) $42,000. Prepare the long-term investments section of the balance sheet.
- Finney Corporation has the following data as of December 31, 2018: Compute the debt to equity ratio at December 31,2018. Total Current Liabilities $36,210 Total Stockholders' Equity $ ? Total Current Assets 32,670 Other Assets 33,500 Long-term Liabilities 204,970 Property, Plant, and Equipment, Net 330,610All the numbers are in millions. Please calculate the debt ratio and time interest earned ratio year by year. Curent Asset Current Liabilities Total Liabilities Total Assets 2016 5,857.9 8,824.3 12,978.2 18,592.9 2017 6,261.3 10,757.7 14,687.7 20,854.2 2018 6,314.2 6,588.0 10,549.4 16,963.6 2019 5,756 6,287 10,821 17,178 2020 5,977 5,653 10,816 17,748 2021 4,950 5,983 10,049 17,000 BKW Net Cash Provided by operating activities Operating Income Before Tax Finance Costs Cash and cash eqiv & Accounts receivables 2016 853.0 862.8 - 126.2 1,008.4 + 2,785.0 2017 146.0 1,007.0 - 108. 6 1,249.2 + 2,749.2 2018 72.8 1,066.2 - 88.0 1,177.1 + 2,670.2 2019 60 620 - 142 1,290 + 2,050 2020 137 - 536 - 165 1, 1 1 1 + 1,667 2021 468 295 - 146 1,662 + 1,741 Debt Ratio = Total Liabilities/Total Assets Times Interest…At December 31, 2018, Atlanta Company has an equity portfolio valued at $160,000. Its cost was $132,000. If the Securities Fair Value Adjustment has a debit balance of $8,000, prepare the journal entry required at December 31, 2018.
- Cello Mowing & Landscaping's year-end 2018 balance sheet lists current assets of $435,400, fixed assets of $550,600, current liabilities of $416,800, and long-term debt of $314,900. Calculate Cello's total stockholders' equity.At December 31, 2018, Charlotte Company has an equity portfolio valued at $160,000. Its cost was $132,000. If the Securities Fair Value Adjustment has a debit balance of $8,000, which of the following journal entries is required at December 31, 2018?At May 31, 2016, FedEx Corporation reported the following amounts (in millions) in its financial statements: 2016 2015 Total Assets $ 13,200 $ 12,300 Total Liabilities 8,316 7,503 Interest Expense 300 300 Income Tax Expense 480 290 Net Income 1,080 1,000 Required: 1.Compute the debt-to-assets ratio and times interest earned ratio for 2016 and 2015. (Round your answers to 2 decimal places.)
- What is the amount of Return on Equity? (Round to the nearest 2 decimal places in percentage form)All the figures are in millions Please write down the formulas used to answer the question and use excel to answer. Calculate: debt ratio and times interest earned ratio. LLC Current Asset Current Liabilities Total Liabilities Total Assets 2016 5,857.9 8,824.3 12,978.2 18,592.9 2017 6,261.3 10,757.7 14,687.7 20,854.2 2018 6,314.2 6,588.0 10,549.4 16,963.6 2019 5,756 6,287 10,821 17,178 2020 5,977 5,653 10,816 17,748 2021 4,950 5,983 10,049 17,000 BKW Net Cash Provided by operating activities Operating Income Before Tax Finance Costs Cash and cash eqiv & Accounts receivables 2016 853.0 862.8 - 126.2 1,008.4 + 2,785.0 2017 146.0 1,007.0 - 108. 6 1,249.2 + 2,749.2 2018 72.8 1,066.2 - 88.0 1,177.1 + 2,670.2 2019 60 620 - 142 1,290 + 2,050 2020 137 - 536 - 165 1, 1 1 1 + 1,667 2021 468 295 - 146 1,662 +…The following schedule of NY company’s outstanding liabilities as of December 31, 2016 provided as follows: Accounts payables and accruals P 900,000 6% notes payables – due February 1, 2017 1,000,000 8% loan payable – due February 15, 2017 1,500,000 10% loan payable – due march 1, 2017 2,000,000 The following information was provided at the time the 2016 financial statements were being prepared: The 6% note includes a clause that allows NY Company to reschedule the note’s maturity date for a maximum period of 2 years from the date of maturity. The 8% loan includes a stipulation that NY company’s debt to equity ratio should not be higher than 0.40 at all times, otherwise the entire loan would be demandable immediately. At December 1, 2016, NY Company’s debt to equity was 0.45. Management intends to seek a waiver from Yankees finance company with an assurance…
