As of April 30, 2019, Marcus Tools has assets of $107,000 and liabilities of $26,000. How much is the owner's equity for Marcus Tools as of April 30, 2019?
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As of April 30, 2019, Marcus Tools has assets of $107,000 and liabilities of $26,000. How much is the owner's equity for Marcus Tools as of April 30, 2019?
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- Sydney Group reports a net income of $50,000 for 2019. At the beginning of 2019, Sydney Group had $230,000 in assets. By the end of 2019, assets had grown to $320,000. What is Sydney Group's 2019 return on assets? Answer?Bernard King Co.'s (BKC) balance sheet shows $7150 in long term debt at the end of 2020. BKC paid $730 in interest during 2020 and cash flow to creditors for 2020 was -$850. How much long term debt was on BKC's balance sheet at the end of 2019?What is the amount of total assets ?
- Anna's business makes an operating profit of $29,975 in the year ended 31 December 2020, after deducting $7,668 for depreciation. On 31 December 2020 her statement of financial position showed inventory of $33,250, receivables and prepayment of $26,772 and payables $33,556. on december 2019, the corresponding figures were inventory $34,490, receivables and prepayments $22,894 and payables $29,493. What is the net cash inflow from operating activities to be included in Annas statement of cashflow for the year ended 31 December 2020?The income statement of Armenia Corporation for 2020 included the following items: Interest income P2,101,000; Salaries expense 1,650,000; Insurance expense 277,200. The following balances have been excerpted from Armenia Corporation's statements of financial position for the year ended 12/31/2019 and 12/31/2020 respectively. Accrued interest receivable P165,000 P200,200; Accrued salaries payable 92,400 195,800; Prepaid insurance 33,000 24,200; Requirement #2: The cash paid for salaries during 2020 was Choices; P1,753,400 P1,557,600 P1,845,800 P1,546,600During 2019, the company reported net income of $4,212 million, interest expense of $167 million and income tax expense of $1,372 million. During 2018? Based on this information, what is the time interests earned ratio? A. 34.4 B. 34.1 C. 32.2 D. 28.4
- For the year ended Dec. 31, 2020, The Company paid interest totaling P100,000. The prepaid interest expense is P23,500 and P18,000, respectively,on December 31, 2019and 2020. The interest payable is P45,000 and P53,500, respectively,on December 31, 2019and 2020. What amount of interest expense should be reported on December 31, 2020?Cardi B reported the following data for her company in 2019: Net Operating Income $61,000 Beginning Operating Assets ??? Ending Operating Assets $540,000 Return on Investment 0.11 Based on the information above, what was the beginning balance of Operating Assets for 2019? Round your answer to the nearest dollar.On November 1, 2019, Holiday, Inc. received $16,000 that it would earn over the next 16 months. Which of the following correctly states the 2020 annual financial statements? Unearned revenue of $0; revenue of $16,000 O Unearned revenue of $2,000; revenue of $12,000 Unearned revenue of $2,000; revenue of $14,000 O Unearned revenue of $4,000; revenue of $12,000 Unearned revenue of $0; revenue of $0
