Assignment: 3.5 [8 Marks] At the beginning of the year, Quaker Company's liabilities equal $55,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease by $17,000 during the year. What are the beginning and ending amounts of owners' equity?
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![Assignment: 3.5 [8 Marks]
At the beginning of the year, Quaker Company's
liabilities equal $55,000. During the year, assets
increase by $60,000, and at year-end assets equal
$190,000. Liabilities decrease by $17,000 during the
year. What are the beginning and ending amounts of
owners' equity?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff07ff043-df2a-4976-b8a3-12a9fb752c42%2F95ef0d78-5c3a-495a-9c37-17e6ffe959ae%2Fvvaxfua_processed.jpeg&w=3840&q=75)
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- .Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: Note: Round answers to two decimal places. 1. Calculate the times-interest-earned ratio. 2. Calculate the debt ratio. 3. Calculate the debt-to-equity ratio.Assume Metro Corporation had a net income of $2,200 for the year ending December 31. Its beginning and ending total assets were $35,500 and $19,000, respectively. Calculate Metro's return on assets (ROA). (Round your percentage answer to two decimal places.) A. 11.58% B. 4.04% C. 8.07% D. 6.20%
- Quick ratio Adieu Company reported the following current assets and current liabilities for two recent years: Dec. 31, 20Y4 Dec. 31, 20Y3 Cash $1,070 $1,100 Temporary investments 1,100 1,500 Accounts receivable 830 900 Inventory 2,200 2,600 Accounts payable 2,000 2,500 a. Compute the quick ratio on December 31 for each year. Round to one decimal place. 20Y4 20Y3 Quick Ratio fill in the blank 1 fill in the blank 2 b. Is the quick ratio improving or declining?Quick ratio Adieu Company reported the following current assets and current liabilities for two recent years: Dec. 31, 20Y4 Dec. 31, 20Y3 $1,080 1,500 920 Cash $960 1,200 840 Inventory 2,100 2,600 Accounts payable 2,000 2,500 a. Compute the quick ratio on December 31 for each year. Round to one decimal place. 20Y4 Temporary investments Accounts receivable 20Y3 Quick Ratio b. Is the quick ratio improving or declining? Improving1
- 11. At the beginning of the year, an Entity had total assets of P700,000 and total liabilities of P500,000. If the total assets increased by 30% and owner's equity increased by the same percent, what is the amount of total liabilities at the end of the year? O A. P650,000 O B. P560,000 O C. P410,000 OD. P260,000Please provide correct answer the general accounting questionCategory Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 428,571.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,035.00 Interest expense 40,500 42,155.00 Inventories 279,000 288,000 Long-term debt 339,577.00 401,377.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,171.00 Retained earnings 306,000 342,000 Sales 639,000 849,094.00 Taxes 24,750 47,192.00 What is the current year's entry for long-term debt on a common-sized balance sheet? (ROUND TO 4 DECIMAL PLACES.)
- Category Prior Year Current Year Accounts payable 3,159.00 5,955.00 Accounts receivable 6,974.00 8,952.00 Accruals 5,771.00 6,100.00 Additional paid in capital 19,965.00 13,214.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,509.00 18,563.00 Current portion long-term debt 500 500 Depreciation expense 1,044.00 984.00 Interest expense 1,285.00 1,168.00 Inventories 3,015.00 6,719.00 Long-term debt 16,894.00 22,766.00 Net fixed assets 75,882.00 73,989.00 Notes payable 4,022.00 6,500.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,811.00 34,391.00 Sales 46,360 45,993.00 Taxes 350 920 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places. unanswered not_submitted Attempts Remaining: InfinityCategory Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,139.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,349.00 Interest expense 40,500 41,741.00 Inventories 279,000 288,000 Long-term debt 337,728.00 398,725.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,280.00 Retained earnings 306,000 342,000 Sales 639,000 847,106.00 Taxes 24,750 48,618.00 What is the current year's return on assets (ROA)? (Round to 4 decimal places.)The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous YearAccounts payable $111,000 $100,000Long-term debt 132,680 124,000Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis?