Homework Help is Here – Start Your Trial Now!
Business
Accounting
B C 3 Consolidated Statements of Financial Position 4 (millions of dollars) 5 Assets 6 Cash and cash equivalents Inventory 8 Other current assets 9 Total current assets 10 11 12 Property and equipment 13 Land D E Before Event Dec 31, 2022 $ 5,911 13,902 1,760 G Before Event Economic Event (enter increase as "+" and decrease as "-") Ratios 21,573 Current Ratio 6,164 14 Buildings and improvements 32,385 15 Fixtures and equipment 10,169 16 Accumulated depreciation and 17 amortization on fixtures and equipment financed throug (21,137) 18 Operating lease assets 7,556 19 Amortization on operating leases (4,400) 20 Other noncurrent assets 1,501 21 Total assets $ 53,811 22 23 24 25 Liabilities and shareholders' investment 26 Accounts payable 27 Accrued interest and other current liabilities 28 Current portion of operating lease liabilities 29 Current portion of long-term debt and other borrowing: 90 Total current liabilities 31 32 Long-term debt and other borrowings 33 Noncurrent operating lease liabilities 34 Deferred income taxes 35 Other noncurrent liabilities 36 37 Total noncurrent liabilities Shareholders investment 39 Common stock 40 Additional paid-in capital 41 Retained earnings $ 15,478 6,098 71 100 21,747 13,549 2,493 1,566 1,629 19,237 0.992 H After Event 31-Dec-23 After Event Ratios $ 5,911 13,902 1,760 21,573 Current Ratio 6,164 32,385 10,169 (21,137) 7,556 (4,400) 1,501 $ 53,811 15,478 6,098 71 100 21,747 13,549 2,493 1,566 1,629 19,237 0.992 39 39 6,421 6,421 6,920 42 Accumulated other comprehensive loss 6,920 (553) 43 Total shareholders investment (553) 12,827 44 Total liabilities and shareholders investment 12,827 $ 53,811 Debt to Equity 53,811 45 Debt to Equity 3.20 3.20

B C 3 Consolidated Statements of Financial Position 4 (millions of dollars) 5 Assets 6 Cash and cash equivalents Inventory 8 Other current assets 9 Total current assets 10 11 12 Property and equipment 13 Land D E Before Event Dec 31, 2022 $ 5,911 13,902 1,760 G Before Event Economic Event (enter increase as "+" and decrease as "-") Ratios 21,573 Current Ratio 6,164 14 Buildings and improvements 32,385 15 Fixtures and equipment 10,169 16 Accumulated depreciation and 17 amortization on fixtures and equipment financed throug (21,137) 18 Operating lease assets 7,556 19 Amortization on operating leases (4,400) 20 Other noncurrent assets 1,501 21 Total assets $ 53,811 22 23 24 25 Liabilities and shareholders' investment 26 Accounts payable 27 Accrued interest and other current liabilities 28 Current portion of operating lease liabilities 29 Current portion of long-term debt and other borrowing: 90 Total current liabilities 31 32 Long-term debt and other borrowings 33 Noncurrent operating lease liabilities 34 Deferred income taxes 35 Other noncurrent liabilities 36 37 Total noncurrent liabilities Shareholders investment 39 Common stock 40 Additional paid-in capital 41 Retained earnings $ 15,478 6,098 71 100 21,747 13,549 2,493 1,566 1,629 19,237 0.992 H After Event 31-Dec-23 After Event Ratios $ 5,911 13,902 1,760 21,573 Current Ratio 6,164 32,385 10,169 (21,137) 7,556 (4,400) 1,501 $ 53,811 15,478 6,098 71 100 21,747 13,549 2,493 1,566 1,629 19,237 0.992 39 39 6,421 6,421 6,920 42 Accumulated other comprehensive loss 6,920 (553) 43 Total shareholders investment (553) 12,827 44 Total liabilities and shareholders investment 12,827 $ 53,811 Debt to Equity 53,811 45 Debt to Equity 3.20 3.20

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Amoritzation expense for the period, on fixtures and equipment classified as financing leases, is $3000, of which, $2000 relates to cost of sales. Record this economic event. A) the current ratio was .992 before the economic event. What is current ratio after this event? B) the profit margin was 6.6% before this economic event. What is the profit margin immediately after this event? C) what is the debt to equity ratio after this economic event?
B C 3 Consolidated Statements of Financial Position 4 (millions of dollars) 5 Assets 6 Cash and cash equivalents Inventory 8 Other current assets 9 Total current assets 10 11 12 Property and equipment 13 Land D E Before Event Dec 31, 2022 $ 5,911 13,902 1,760 G Before Event Economic Event (enter increase as "+" and decrease as "-") Ratios 21,573 Current Ratio 6,164 14 Buildings and improvements 32,385 15 Fixtures and equipment 10,169 16 Accumulated depreciation and 17 amortization on fixtures and equipment financed throug (21,137) 18 Operating lease assets 7,556 19 Amortization on operating leases (4,400) 20 Other noncurrent assets 1,501 21 Total assets $ 53,811 22 23 24 25 Liabilities and shareholders' investment 26 Accounts payable 27 Accrued interest and other current liabilities 28 Current portion of operating lease liabilities 29 Current portion of long-term debt and other borrowing: 90 Total current liabilities 31 32 Long-term debt and other borrowings 33 Noncurrent operating lease liabilities 34 Deferred income taxes 35 Other noncurrent liabilities 36 37 Total noncurrent liabilities Shareholders investment 39 Common stock 40 Additional paid-in capital 41 Retained earnings $ 15,478 6,098 71 100 21,747 13,549 2,493 1,566 1,629 19,237 0.992 H After Event 31-Dec-23 After Event Ratios $ 5,911 13,902 1,760 21,573 Current Ratio 6,164 32,385 10,169 (21,137) 7,556 (4,400) 1,501 $ 53,811 15,478 6,098 71 100 21,747 13,549 2,493 1,566 1,629 19,237 0.992 39 39 6,421 6,421 6,920 42 Accumulated other comprehensive loss 6,920 (553) 43 Total shareholders investment (553) 12,827 44 Total liabilities and shareholders investment 12,827 $ 53,811 Debt to Equity 53,811 45 Debt to Equity 3.20 3.20
Transcribed Image Text:B C 3 Consolidated Statements of Financial Position 4 (millions of dollars) 5 Assets 6 Cash and cash equivalents Inventory 8 Other current assets 9 Total current assets 10 11 12 Property and equipment 13 Land D E Before Event Dec 31, 2022 $ 5,911 13,902 1,760 G Before Event Economic Event (enter increase as "+" and decrease as "-") Ratios 21,573 Current Ratio 6,164 14 Buildings and improvements 32,385 15 Fixtures and equipment 10,169 16 Accumulated depreciation and 17 amortization on fixtures and equipment financed throug (21,137) 18 Operating lease assets 7,556 19 Amortization on operating leases (4,400) 20 Other noncurrent assets 1,501 21 Total assets $ 53,811 22 23 24 25 Liabilities and shareholders' investment 26 Accounts payable 27 Accrued interest and other current liabilities 28 Current portion of operating lease liabilities 29 Current portion of long-term debt and other borrowing: 90 Total current liabilities 31 32 Long-term debt and other borrowings 33 Noncurrent operating lease liabilities 34 Deferred income taxes 35 Other noncurrent liabilities 36 37 Total noncurrent liabilities Shareholders investment 39 Common stock 40 Additional paid-in capital 41 Retained earnings $ 15,478 6,098 71 100 21,747 13,549 2,493 1,566 1,629 19,237 0.992 H After Event 31-Dec-23 After Event Ratios $ 5,911 13,902 1,760 21,573 Current Ratio 6,164 32,385 10,169 (21,137) 7,556 (4,400) 1,501 $ 53,811 15,478 6,098 71 100 21,747 13,549 2,493 1,566 1,629 19,237 0.992 39 39 6,421 6,421 6,920 42 Accumulated other comprehensive loss 6,920 (553) 43 Total shareholders investment (553) 12,827 44 Total liabilities and shareholders investment 12,827 $ 53,811 Debt to Equity 53,811 45 Debt to Equity 3.20 3.20
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS