At the beginning of the year, XYZ Corporation's liabilities were $180,000. During the year, assets increased by $45,000, and at the end of the year, assets equaled $420,000. Liabilities increased by $60,000 during the year. Calculate the amount of equity at the beginning of the year. A. $195,000 B. $240,000 C. $285,000 D. $375,000 E. $180,000

At the beginning of the year, XYZ Corporation's liabilities were $180,000. During the year, assets increased by $45,000, and at the end of the year, assets equaled $420,000. Liabilities increased by $60,000 during the year. Calculate the amount of equity at the beginning of the year. A. $195,000 B. $240,000 C. $285,000 D. $375,000 E. $180,000

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 12P: The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of...

See similar textbooks

Similar questions

The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of 36.5 days (based on a 365-day year), total current assets of $810,000, and cash and marketable securities of $120,000. What were Kretovich’s annual sales?
Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital expenditures of $112,900, cash dividends of $35,800, and average maturities of long-term debt over the next 5 years of $122,300. What is Chasses free cash flow and cash flow adequacy ratio? a. $94,300 and 0.77, respectively c. $130,100 and 1.06, respectively b. $94,300 and 0.82, respectively d. $165,900 and 1.36, respectively
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. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.
At the beginning of the year, Norwood Pass Industries had $240,000 in total assets and a debt-to-assets ratio of 0.5 or 50%. During the year, Norwood's assets increased by $80,000, and its liabilities increased by $72,000. What is the debt-to-assets ratio at the end of the year? Multiple Choice 0.4 or 40% 0.6 or 60% 1.7 or 170% 0.9 or 90%
Randall Corporation reported the following revenue data:Year Net revenues (in millions)$$$$6,8007,0046,7327,2762016201720182019Use 2016 as the base year. The trend percentage in 2019 is closest toa. 93%.b. 104%.c. 107%.d. 112%
Midyear on July 31st the digby corporation's balance sheet reported: TOtal liabilities of $128.513 million , cash of $10.050 million , Total assets of $209.895 million, Total common stock of $6.350 million. What were the Digby corporation retained earnings? A. $75.032 million B. $87.732 Million C. $85.082 Million D. $97.782 Million
Subject: Financial Accounting-The Banner Income Fund's average daily total assets were $100 million for the year just completed. Its stock purchases for the year were $20 million, while its sales were $12.5 million. What was its turnover?
Benson Company’s net income was $225,000 for Year 1, $243,750 for Year 2, and $293,160 for Year 3. Assume trend percentages for net income over the three-year period are computed, with Year 1 serving as the base year.The trend percentage for Year 3’s net income is: Select one: A. 117.30% B. 86.36% C. 120.92% D. 130.29%
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%
Nilam Corp.'s total common equity at the end of last year was $426,000 and its net income after taxes was $73,000. What was its ROE? A. 17.14% B. 13.18% C. 15.38% D. 16.28% E. 18.08%. ANSWER
Nilam Corp.'s total common equity at the end of last year was $426,000 and its net income after taxes was $73,000. What was its ROE? A. 17.14% B. 13.18% C. 15.38% D. 16.28% E. 18.08%
Assuming that total assets were $8,037,000 at the beginning of the current fiscal year, determine the following: When required, round to one decimal place. a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equity c. Asset turnover d. Return on total assets e. Return on stockholders' equity f. Return on common stockholders' equity % % %