AssetsCurrent assets:CashMarketable securitiesAccounts receivable (net)InventoriesOtherTotal current assetsProperty and equipment:LandBuilding and equipment (net)Total long-term assetsTotal assets1. Calculate the average total assets.20X120X2$2,875,000 $2,580,000800,000 700,000939,776 690,000490,000260,00093,00074,261$5,197,776 $4,304,261$1,575,000 $1,067,3151,348,800 1,150,000$2,923,800 $2,217,315$8,121,576 $6,521,576

Formula: Average Total Assets = ( 20x1 assets value + 20x2 assets value ) / 2

Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventories Other Total current assets Property and equipment: 20x1 20X2 $2,875,000 $2,580,000 800,000 700,000 939,776 690,000 490,000 260,000 93,000 74,261 $5,197,776 $4,304,261

Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventories Other Total current assets Property and equipment: 20x1 20X2 $2,875,000 $2,580,000 800,000 700,000 939,776 690,000 490,000 260,000 93,000 74,261 $5,197,776 $4,304,261

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following data are taken from the records of Grouper Company. Cash Current assets other than cash Long-term debt investments Plant assets Accumulated depreciation Current liabilities Bonds payable Common stock Retained earnings Additional information: 1. 2. 3. 4. 5. December 31, December 31, 2025 2024 $15,100 84,300 10,000 334,300 $443,700 $20,100 39,900 74,800 255,400 53,500 $443,700 $8,000 60,600 52,500 214,900 $336,000 $40,400 21,800 -0- 255,400 18,400 $336,000 Held-to-maturity debt securities carried at a cost of $42,500 on December 31, 2024, were sold in 2025 for $34,300. The loss (not unusual) was incorrectly charged directly to Retained Earnings. Plant assets that cost $50,300 and were 80% depreciated were sold during 2025 for $8,000. The loss was incorrectly charged directly to Retained Earnings. Net income as reported on the income statement for the year was $57,100. Dividends paid amounted to $11,740. Depreciation charged for the year was $19,940.
Question Content Area Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $31,654 Accounts receivable 69,987 Accrued liabilities 6,524 Cash 16,364 Intangible assets 38,210 Inventory 80,832 Long-term investments 90,451 Long-term liabilities 73,398 Notes payable (short-term) 26,425 Property, plant, and equipment 659,739 Prepaid expenses 1,697 Temporary investments 38,252 Based on the data for Harding Company, what is the amount of quick assets?
Current Year Previous Year Current assets: Cash $655,500 $520,000 Marketable securities 759,000 585,000 Accounts and notes receivable (net) 310,500 195,000 Inventories 643,500 475,800 Prepaid expenses 331,500 304,200 Total current assets $2,700,000 $2,080,000 Current liabilities: Accounts and notes payable (short-term) $435,000 $455,000 Accrued liabilities 315,000 195,000 Total current liabilities $750,000 $650,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to place.
LOWE'S Balance Sheets (in millions) Fiscal 2013 Fiscal 2012 Amount Percent Amount Percent Assets Current Assets Cash S 391 1.2% $ 541 1.7% Short-term Investments 185 0.6 125 0.4 Inventory 9.127 27.9 8,600 26.3 Other Current Assets 593 1.8 S18 1.6 Property and Equipment, Net Other Assets 20.834 63.6 21.477 65.7 1.602 $32.732 1405 S32.666 100,0% 4.9 4.3 Total Assets 100.0% Liabilities and Stockholders' Equity Current Liabilities S 8.876 27.1% $ 7,708 23.6% Long-term Liabilities 12003 36.7 11.101 34.0 Total Liabilities 20.879 63.8 18.809 57.6 11.853 $32732 36.2 Stockholders' Equity Total Liabilities and Stockholders' Equity 13,857 42.4 J00.0% $32,666 100.0% LOWE'S Income Statements (in millions) Fiscal 2013 Fiscal 2012 Amount Percent Amount Percent Net Sales Revenue $53,417 100.0% $50,521 100.0% Cost of Sales 34,941 65.4 33,194 17,327 65.7 Gross Profit 18,476 34.6 34.3 14,327 26.8 27.3 Operating and Other Expenses Interest Expense Income Tax Expense 13,767 476 0.9 423 0.8 1.387 2.6 1,178…
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Assets Line Item Description Amount Cash and short-term investments $42,572 Accounts receivable (net) 33,774 Inventory 37,691 Property, plant, and equipment 215,705 Total assets $329,742 Liabilities and Stockholders’ Equity Line Item Description Amount Current liabilities $68,960 Long-term liabilities 98,919 Common stock, $10 par 64,740 Retained earnings 97,123 Total liabilities and stockholders’ equity $329,742 Income Statement Line Item Description Amount Sales $91,805 Cost of goods sold (41,312) Gross profit $50,493 Operating expenses (28,002) Net income $22,491 Number of shares of common stock 6,474 Market price of common stock $28 What is the current ratio?
Prepare a classified balance sheet as of December 31, 2022 Cash 49104 Accounts Receivable 44880 Inventory 19976 Land 57200 Buildings 83600 Equipment 35200 Accumulated Dep-Buildings 29040 Accumulated Dep-Equipment 15840 Account Payable 16984 Interest Payable 4400 Dividends Payable 5900 Unearned Rent Revenue 1760 Bonds Payable 44000 Preferred Stock 17600 Paid-in Capital in Excess of Par-Preferred Stock 1760 Common Stock 35200 Paid-in Capital in Excess of Par-Common Stock 16720 Retained Earnings 66044 Treasury Stock 12936 Cash Dividends 5940 Sales Revenue 501600 Rent Revenue 5280 Bad Debt Expense 4092 Interest Expense 4400 Cost of Goods Sold 352000 Depreciation Expense 5808 Other Operating Expenses 34320 Salaries and Wages Expenses 57200 766656 766656
Question Content Area Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $33,234 Accounts receivable 67,995 Accrued liabilities 6,510 Cash 22,738 Intangible assets 35,347 Inventory 83,390 Long-term investments 101,069 Long-term liabilities 79,156 Notes payable (short-term) 27,161 Property, plant, and equipment 689,074 Prepaid expenses 2,037 Temporary investments 30,842 Based on the data for Harding Company, what is the quick ratio (rounded to one decimal place)? a.3.1 b.0.8 c.1.8 d.15.4
J-Mark Superstores provides the following selected financial data. Cash and cash equivalents Short-term investments Accounts receivable Inventory Property, plant and equipment Long-term investments Total asset 2024 $ 852,540 45,050 1,120,545 2023 $ 750,235 39,194 1,030,901 2,812,020 2,615,179 4,212,686 3,749,291 96,555 82,072 9,139,396 8,266,871 Total liabilities 4,204,122 3,968,098 Total stockholders' equity 4,935,274 4,298,773 Net sales 15,579,865 13,710,281 Operating income 5,452,953 4,661,496 Interest expense 157,655 148,804 Investment income 5,947 4,851 Calculate the return on investments ratio for 2024. Note: Round your answer to 1 decimal place. Answer is complete but not entirely correct. Return on investments ratio 4.2 × %
please answer accurately