Brightstone Industries Inc. has the following data for the year ending December 31, 2024: Current assets: $2,500,000 Total assets: $6,000,000 Current liabilities: $1,800,000 Common equity: $2,200,000 Retained earnings: $1,500,000 Calculate the long-term debt of Brightstone Industries Inc.
Q: Find the correct answer general accounting
A: 1. Manufacturing Margin• Step 1: Subtract Variable Cost of Goods Sold from Sales.2. Contribution…
Q: What will be the effect on net income solve this accounting questions
A: Step 1: Definition of Over- or Under-Applied OverheadOver- or Under-Applied Overhead refers to the…
Q: What is net income under absorption costing??? General accounting
A: Step 1: Define Variable CostingVariable costing is a technique used to ascertain the net income of a…
Q: Find answer
A: Step 1: Identify the Formula for Gross Margin Step 2: Plug in the values Step 3: Perform the…
Q: Please given correct option general accounting
A: Step 1: Define Absorption CostingAbsorption costing is a practice applied to determine the cost of a…
Q: Please provide this question solution general accounting
A: Step 1: Define Standard Cost VariancesIn a standard costing system, manufacturing expenses are…
Q: Please provide answer this accounting question not use ai
A: Step 1: Define Differential CostDifferential cost is the additional cost incurred when a company…
Q: What is the sales margin for the division on these financial accounting question?
A: Step 1: Define Ratio AnalysisFinancial ratios help assess a company's performance over time by…
Q: At an activity level
A: Step 1: Definition of Total Costs and Unit CostsTotal Costs: Total costs include both fixed and…
Q: Paceheco Corporation uses the weighted-average method in its process costing system. The Molding…
A: To solve this problem and calculate the cost per equivalent unit for conversion costs in January for…
Q: Solve this question answer Accounting question
A: Step 1: Define Basic Earnings per ShareA company's basic earnings per share is the net income…
Q: What are the equivalent units for conversion costs for the month in the first processing department?
A: To calculate the equivalent units for conversion costs, we use the weighted average method in…
Q: Use the following tax table to answer this question: Taxable Income $0-$50,000 50,001-75,000…
A: To calculate the tax owed by Holiday Inn on a taxable income of $177,284, we will apply the given…
Q: The equity of Alliance Company is $198,300 and the total liabilities are $16,700. The total assets…
A: Explanation of Liabilities:Liabilities are financial obligations or debts that a company owes to…
Q: Subject: Financial Accounting
A: Concept of Net Sales:Net sales refer to the total revenue a company generates from selling its goods…
Q: What is the equity at the end of the year?
A: Step 1: Define EquityEquity is the amount invested by the shareholders of a company. Equity is an…
Q: Badger size Company has the following information for its Forming Department for the month of…
A: Step 1: Key DataWork in Process (WIP) Inventory - August 1:Units: 20,000Materials: 100%…
Q: What does it cost per year to carry this inventory?
A: To calculate the annual inventory carrying cost, we sum up the cost components that contribute to…
Q: Please solve this question general accounting
A: Calculation of interest expense for the year ended December 31, 2010:Principal of the note:…
Q: Which of the following account
A: Explanation: In accounting, there are three types of accounts - Real accounts; Personal accounts;…
Q: What is the beginning raw materials inventory? Accounting.
A: To determine the beginning raw materials inventory, we use the formula for raw materials inventory:…
Q: Hi expert provide correct answer general accounting
A: The payback period is the time it takes for an investment to recover its initial cost from the…
Q: answer this financial accounting mcq
A: In accounting, nominal accounts are temporary accounts that track transactions for a specific period…
Q: Leone Crop uses the weighted average
A: Concept of Beginning Inventory:Beginning inventory refers to the number of units and their…
Q: Please given answer general accounting
A: Step 1: Introduction to income statementIncome statement is referred to as the financial statement…
Q: Solution want
A: To calculate the amount in Common Stock, we use the accounting equation:…
Q: Calculate buildright material quantity variance
A: Step 1: Definition of Materials Quantity VarianceMaterials quantity variance measures the difference…
Q: Solve this question financial accounting
A: Step 1: Define EquityEquity refers to the amount of money that will be returned to the owners if the…
Q: Merchandise is sold on account to a customer for $72,500, terms GEB shipping point, 3/10, n/30. The…
A: Concept of Terms of Sale (3/10, n/30): This term defines the payment agreement between the buyer and…
Q: Cost Account Subject Questions
A: Step 1:Fixed cost is that cost which remains constant or unchanged irrespective of level of goods…
Q: Romasanta Corporation manufactures a single product. The following data pertain to the company's…
A: Step 1: Determine the fixed manufacturing overhead cost per unit ($53 per unit)Step 2: Calculate the…
Q: Please financial accounting expert need your help
A: Concept of Beta in CAPM: Beta is a measure of an asset's sensitivity to market movements and…
Q: The basic accounting equation is: a. Assets A equals Liabilities L + Stockholders' Salaries SS. b.…
A: The correct answer is:b. Assets A equals Liabilities L + Stockholders' Equity SE. Explanation:The…
Q: Which of the following is the correct accounting equation? a. Assets + Liabilities = Equity. b.…
A: The correct accounting equation is:b. Assets = Liabilities + Equity. ExplanationThe Accounting…
Q: Hello tutor please provide correct answer general Accounting
A: Step 1: Define GoodwillSometimes a company pays a higher amount to acquire an asset than its fair…
Q: How much was the material quantity variance?
A: Step 1: Define Material Quantity VarianceMaterial quantity variance is dependent on the actual…
Q: What's the solution
A: We have to find the ending work in process inventory, by useing the given information :Beginning…
Q: Get Account solution . NO ai please.
A: To calculate the total equivalent units of production (EUP) for conversion costs using the…
Q: Delta corporation issued
A: Detailed Explanation: Solution Key Information: Number of shares issued: 25,000 sharesPar value per…
Q: Moh cost
A: Explanation of Applied MOH:Applied Manufacturing Overhead (MOH) is the amount of overhead costs…
Q: Calculate operating cash flow accounting questions
A: Step 1: Definition of Operating Cash Flow (OCF)Operating Cash Flow (OCF) is the cash generated from…
Q: What is the amount of gain
A: Step 1: Definition of Gain on SaleThe gain on sale of property is calculated as the difference…
Q: I need this question answer general Accounting
A: Step 1: Define Common EquityCommon equity refers to the amount of investment by investors in the…
Q: Subject - General Account
A: Step 1: Key DataUnits data:Beginning WIP: 79,000 unitsUnits started: 751,000 unitsUnits transferred…
Q: What is cost of equity on these financial accounting question?
A: Step 1: Given Value for Calculation Risk free Rate = rf = 3%Market Return = rm = 11%Beta = b = 1.6…
Q: Quick answer of this accounting questions
A: Step 1: Definition of Make-or-Buy DecisionA make-or-buy decision is a financial analysis process…
Q: An organization has a $300,000 tax liability at 1/1/2018 and an ending balance of $450,000 on…
A: To determine how much tax was actually paid during the year ending 12/31/2018, we use the following…
Q: Solution to below Problem
A: Explanation of Gross Profit Method: The gross profit method is an inventory estimation technique…
Q: The gross profit margin?
A: Detailed explanation:Sales $ 335,000…
Q: Anthony, Inc. buys land for $50,000 cash. The net effect on assets is: a. $50,000 increase. b. $0.…
A: The correct answer is:b. $0 Explanation:When Anthony, Inc. buys land for $50,000 cash, the company…
Hello teacher please help me this question
Step by step
Solved in 2 steps
- The Canada Technology Corporation (CTC) financial statements below: CTC's long-term debt bears interest at 6%. During the year ended December 31, 2020, CTC's times-interest-earned ratio was: a) 100 times b) 110 times c) 117 times d) 125 timesBarger Corporation has the following data as of December 31, 2024: Total Stockholders' Equity Total Current Liabilities Total Current Assets $ 36,210 58,200 181,630 Other Assets Long-term Liabilities Property, Plant, and Equipment, Net Compute the debt to equity ratio at December 31, 2024. (Round your answer to two decimal places, X.XX.) = = C $? 45,600 269,640 Debt to equity ratioSuppose the Crane Ltd's 2020 financial statements contain the following selected data (in millions). Current assets Total assets Current liabilities Total liabilities NT$3,536.0 31,408.0 3,016.0 16,640.0 Compute the following values. Interest expense Income taxes Net income NT$520.0 (a) Debt to assets ratio. (Round to O decimal places, e.g. 62%.) 1,976.0 4,590.0 (b) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) % times
- The comparative balance sheets for Metlock Corporation show the following information. December 312020 2019Cash $33,500 $12,900Accounts receivable 12,400 10,000Inventory 12,100 9,000Available-for-sale debt investments –0– 3,000Buildings –0– 29,800Equipment 44,800 19,900Patents 5,000 6,300 $107,800 $90,900Allowance for doubtful accounts $3,100 $4,500Accumulated depreciation—equipment 2,000 4,500Accumulated depreciation—building –0– 6,000Accounts payable 5,000 3,000Dividends payable –0– 4,900Notes payable, short-term (nontrade) 3,000 4,100Long-term notes payable 31,000 25,000Common stock 43,000 33,000Retained earnings 20,700 5,900 $107,800 $90,900 Additional data related to 2020 are as follows. 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500.2. $10,000 of the long-term note payable was paid by issuing common stock.3. Cash dividends paid were $4,900.4. On January…Deere & Company’s 2018 10-K reports the following footnote relating to long-term debt for its equipment operations subsidiary. Deere’s borrowings include $300 million, 7.125% notes, due in 2031Finney Corporation has the following data as of December 31, 2018: Compute the debt to equity ratio at December 31,2018. Total Current Liabilities $36,210 Total Stockholders' Equity $ ? Total Current Assets 32,670 Other Assets 33,500 Long-term Liabilities 204,970 Property, Plant, and Equipment, Net 330,610
- Calculate the Debt to Equity ratio for Urban Outfitters for both 2018 and 2019. Be sure to round your answer to 2 decimal place.The balance sheet and income statement for Cruise Corporation are as follows: Balance Sheet as of December 31, 2020 ASSETS LIABILITIES & EQUITY Cash & marketable securities $2,000 Accounts payable $30,000 Accounts Receivable 35,000 Taxes payable 9,000 Inventory 15,000 Short-term borrowings 12,000 Total current assets $52,000 Total current liabilities $51,000 Net P,P & E $448,000 Long-term debt…Selected balance sheet accounts for Tibbetts Company on September 30, 2019. are as follows: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses $ 48,000 87,000 129,000 135, 000 21,000 Total current assetS $420,000 Accounts payable Other accrued liabilities $147,000 33,000 60,000 Short-term debt Total current liabilities $240,000 Required: a. Calculate the working capital, current ratio, and acid-test ratio for Tibbetts Company as of September 30. 2019 b. Summarized here are the transactions/events that took place during the fiscal year ended September 30, 2020. Prepare Journal entries for the below transactions and Indicate the effect of each item on Tibbetts Company's working capital, current ratio, and acid-test ratio. Use + for Increase, - for decrease, and (NE) for no effect. 1. Credit sales for the year amounted to $360,000. The cost of goods sold was $234.000 2 Collected accounts recelvable, $378,000. 3. Purchased inventory on account, $252,000. 4.…
- Jamison Corp.'s balance sheet accounts as of December 31, 2021 and 2020 and information relating to 2021 activities are presented below. December 31, 2021 2020 AssetsCash $ 440,000 $ 200,000Short-term investments 600,000 —Accounts receivable (net) 1,020,000 1,020,000Inventory 1,380,000 1,200,000Long-term investments 400,000 600,000Plant assets 3,400,000 2,000,000Accumulated depreciation (900,000)…The Murdock Corporation reported the following balance sheet data for 2021 and 2020: 2021 2020 Cash $ 77,375 $ 22,955 Available-for-sale debt securities (not cash equivalents) 15,500 85,000 Accounts receivable 80,000 68,250 Inventory 165,000 145,000 Prepaid insurance 1,500 2,000 Land, buildings, and equipment 1,250,000 1,125,000 Accumulated depreciation (610,000 ) (572,000 ) Total assets $ 979,375 $ 876,205 Accounts payable $ 76,340 $ 148,670 Salaries payable 20,000 24,500 Notes payable (current) 25,000 75,000 Bonds payable 200,000 0 Common stock 300,000 300,000 Retained earnings 358,035 328,035 Total liabilities and shareholders' equity $ 979,375 $ 876,205 Additional information for 2021:(1) Sold available-for-sale debt securities costing $69,500 for $74,000.(2) Equipment costing $20,000 with a book value of…The condensed balance sheet and income statement for Marjoram Company are presented below. MARJORAM COMPANY Balance Sheet At December 31, 2021 Cash Notes receivable (due August 15, 2022) Accounts receivable (net) Merchandise inventory Property, plant, and equipment (net) Intangible assets $ 19,500 30,000 48,600 70,900 255, 000 12,600 Total assets $436, 600 Current liabilities Bonds payable(10%) (long-term) Common stock Retained earnings Total liabilities and equity $104,000 105, 000 71,000 156, 600 $436, 600 MARJORAM COMPANY Income Statement For the Year ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses Operating income Interest expense $719,000 427, 400 $291,600 167, 400 $124, 200 10,500
