Answered: Cash 56500 Receivables short term 25800…

Cash 56500 Receivables short term 25800 Invertory Payables short term Payables long term salaries payable with in I month Determine the Working capital 20000 24000 28000 5000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Cash 56500 Receivables short term 25800 Inventory Payables short term Payables long term salaries…

A: Formula used: Current ratio = Current Assets / Current liabilities Division of current liabilities…

Q: 1. A is defined as a business that does work for a customer and occasionally provides goods, but is…

A: A _____ is defined as a business that does work for a customer and occasionally provide goods, but…

Q: Justine is the manager of an investment center. Currently Justine has an ROI of 20%, which is well…

A: Return on investment= (Net operating income / Investment employed )*100

Q: Rocky Mountain Bus Tours needs an additional bus for three years. It can lease a bus for $2100…

A: Present value of annuity due (payment due at the beginning of each month) = Payment x [1 - (1 +…

Q: Determine the break-even quantity and margin of safety (units and value) if com sold 8,000 units of…

A: Break Even Point is the level of sales where the company neither earns any profits nor incurs any…

Q: Question 3 Aminu Ltd started a delivery service, Aminu Ltd Deliveries, on June 1, 20X1. The…

A: Income statement determines the net income of the company. Statement of financial position…

Q: Entries for Issuing No-Par Stock On February 12, Quality Carpet Inc., a carpet wholesaler, issued…

A: Common Stocks refers to shares entitling their holder to dividends that vary in amount.It is also…

Q: On January 2, 2019, U Co. purchased 75% of the outstanding shares of N Co. resulting to a goodwill…

Q: P 26,000 30,000 67,000 154,000

A: Given The percent of non-controlling interest ownership in S Company as of December 31, 2019.

Q: nount Sell of Pri arkup

A: Markup on Cost = Profit/Cost x 100 Markup on Sales = Profit/Sales x 100 Profit = Sales - Cost

Q: Buying assets to expand a business is classed as which activity in the statement of cash flows?…

A: Cash Flow Statement: A cash flow statement is a financial statement that summaries all of the cash…

Q: Warm Runnings Inc. issued ₱400,000 bonds with a nominal interest rate of 4% when the market rate was…

A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds.

Q: Nivea Company is planning to introduce a new product. Market research information suggests that the…

A: Introduction: A product is a tangible object that is placed on the market for purchase, attention,…

Q: .The effect on profit if production of P is reduced to 500 units (to be sold at P12 each)…

A: The cost profit volume analysis is the analysis which is made by the company by changing the values…

Q: A “sari-sari" store registered as a VAT taxpayer had the following sales. Sales of newspapers…

A: In Philippines government give exemption from VAT is following. 1. News paper, books and magazines…

Q: newer innovative health financin

A: Innovative financing can enable private investors to participate in health more quickly and bring…

Q: What effect does the issuance of a 2-for-1 stock split have on each of the following? Par Value per…

A: Stock split does not gives any additional funding to the organization. It will increase number…

Q: Give 3 tips on helping the auditor decide when it is appropriate to increase reliance on auditing…

A: Audit T To conduct the Audit trial which helps to the Auditors to understand and details of any kind…

Q: At the end of its first year of operations, December 31, 2020, ASHOPEE Company had accounts…

A: Allowance for uncollectible accounts is considered a contra asset account. It is prepared against…

Q: a. How much was actually spent on labor for the week? b. What are the standard hours for the actual…

A: Solution:- a)Calculation of actual spent on labor for the week as follows under:-

Q: 5. S1: Consolidated statements worksheet elimination of intercompany sales of inventory does affect…

A: Consolidated Net Income- Consolidated net income is defined as the total income of the parent entity…

Q: depletion

A: As per the question, a self-employed taxpayer paid $700,000 for a gold mine that is projected to…

Q: Based on the following data, prepare a financial comparison of buying and leasing a motor vehicle…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: partners who share profits and losses in the respectively. On January 1, 2021, their respective…

A: When a new Partner is added to a Partnership firm for an agreed percent of share in the total…

Q: A summary of the entries in the Cash account of Staple Ltd for the month of January was as follows:…

A: Cash flow from investing activities: It is a section of the cash flow statement that shows the cash…

Q: On June 30, 2019, New Company granted compensatory share option for 30,000 P20 par value ordinary…

A: Share Option For the employees share option which can be prevailed for retain the employees into the…

Q: Transaction Account Titles and Explanations Debit ($) Credit ($) (i) Motor vehicle 2480…

A: Suspense account means the account which is opened when the trial balance does not agree because of…

Q: Sales revenue is $ 500000 , Variable costs are 30 % of sales revenue and fixed costs are $ 200000 ,…

A: Lets understand the basics. For calculating net profit(loss), we will need to use below formula. Net…

Q: Monaco manufacturing corp has the following account balances per ledger for the period ending…

A: Amount (In P) Amount (In P) Sales 1,100,000 Less: Sales Discount…

Q: The controller of Sonoma Housewares Inc. instructs you to prepare a monthly cash budget for the next…

A: The question is based on the concept of Cost Accounting. Cash budget is used to calculate the…

Q: On 6th August, Tasha purchased goods on credit from Nisha Ltd, with a list price of $3,360, less…

A: The cash balance due to suppliers is calculated after adjustment for purchase returns, and purchase…

Q: Marzoni's records show raw materials inventory had a beginning balance of $300 and an ending balance…

A: The term resources refer to both raw materials used in manufacturing and finished goods that are…

Q: In acquiring a Long Term Asset, what are the tax benefits that an entity may have?

A: Concept of tax saving on acquiring the long term assets

Q: Statement I: Partners with the greatest ability to absorb losses and expenses are the first to…

A: A partnership is a kind of business structure in which two or more people agree to carry out…

Q: Ms. Ligaya wants to buy her dream car. However, she does not have enough money to pay for ₱5,000,000…

A: Principal amortization means an amount of principal borrowing payment included in the instalment.…

Q: The following is information regarding inventory of Dili Ltd during September 2019. Dili Ltd uses a…

A: FIFO stands for First-In, First-Out. In the FIFO inventory method, purchases at first will be sell…

Q: Miracle Car Wash located in Nashville, Tennessee has been providing interior and exterior car washes…

A: The budget is prepared to record variable and fixed cost at different level of production.

Q: Required: • prepare a worksheet

A: Accounting is the process of recording, classifying and summarising accounting information. At the…

Q: Required: Record all transactions in appropriate T-accounts (costs by nature), close all accounts…

A: Income Statement: An income statement is an accounting report that shows a company's net…

Q: BEGINNING SUPPLIES OF XASG WAS $ 5632 ENDING SUPPLIES BALANCE ON DECEMBER 31 IS $ 256 PURCHASES MADE…

A: Formula used: Supplies expense = Beginning supplies + Net purchases of the year - Ending supplies…

Q: following data were accumulated for use in reconciling the bank account of Nakajima Co. for July: 1.…

A: Each entity needs bank reconciliation in order to know whether the balance showing in the books of…

Q: The assets and liabilities of Matt Wesley Auto Shop are as follows: Cash, S10,000; Accounts…

A: Since basic accounting equation is Total assets = Total liabilities + equity

Q: Gallinas Industries Balance Sheet December 31 Assets Liabilities and Stockholders' Equity Cash 24…

A: Liquidation- Liquidation in finance and economics is the procedure of bringing commerce to an end…

Q: Problem 7-6. Rasheed Jones recently opened a specialty food store in Branford. As the bookkeeper of…

A: The question is based on the concept of Financial Accounting.

Q: Roger's office building has a $410,000 value, a 3 rating, and a A building classification. The…

A: Annual Premium refers to the amount of regular premium payable by the owner of policy, in simple…

Q: 34. Partners A, B, C and D formed a partnership on January 1, 2019 with original investments…

A: We know that in case of partnetship if profit sharing ratio is missing then profit can be divided in…

Q: doubtful aceounts estimated at 5% of eredit sales A What amount should be reported as net realiaable…

A: Sales on account means the credit sales which means that goods has been sold but amount will be…

Q: The bank reconciliation shows the following adjustments: Deposits in transit: $862 Notes receivable…

A: Bank reconciliation (BRS): BRS is drawn up by the business to verify the cash book balance as per…

Q: In a process costing system, costs incurred in one department remain there rather than being…

A: Lets understand the basics. Process costing is as name suggest useful when there is multiple uniform…

Q: Calculate the missing values and express the answers rounded to two decimal places. Rate of Amount…

A: Markup means the difference between the selling price and direct cost. Markup is generally related…

Concept explainers

Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.

Question

Cash
56500
Receivables short term
25800
Inventory
Payables short term
Payables long term
salaries payable with in I month
Determine the Working capital
20000
24000
28000
5000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1 Introduction

VIEW

Step 2 Solution

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Determine the ERR (External rate of return) of the cash flows if external rate (e) is given as %19. Year Cash Flow 0 -3000 1 2000 2 4000 3 -1000 4 3000 5 4000 6 -5000 7 9000 Select one: a. 0.2988 b. 0.2638 c. 0.2565 d. 0.3073 e. 0.2783 f. 0.3491
What is the present worth of the following cash flow if the interest rate is 15% ? Year 12345678 Payment 8332 8708 8504 8146 2500 2500 2500 0 2500 0 2500 2500 4
How much is the total net cash flow? O P430.000 O P270.000 O P620.000 O P695,000
Determine the ERR (External rate of return) of the cash flows if external rate (e) is given as %12. Cash Flow Year 0 1 2 3 4 5 6 7 Select one: a.0.228861 b.0.204146 c.0.245007 d.0.274516 e.0.181262 f.0.168017 g.0.19667 h.0.264278 -5000 2000 4000 -1500 3000 4000 -6000 9000
Assume r=0.1. What is the present value of the following stream of cash flow? Year 0 Year 2 Year 4 Year 1 1000 Year 31 1000 500 1000 500 10000 11000 less than 10000 more than 10000 Year 1000. www *******
Q4. Your project has following Cashflows: Time Cashflow 0 B).19.14% C).21.08% D).21.68% 1 -25,000.00 5,000.00 35,000.00 The reinvestment rate is 10% and refinancing rate is 15%. What is MIRR?.. A).19.73% 2 10,000.00 3 - 5,000.00 4
Calculate the internal rate of return (IRR) of the following cash flows: Year 0 1 2 3 4 5 6 7 Cash Flow (1,650,000) 330,000 365,000 380,000 415,000 405,000 370000 294,000 Answer:
k What is the payback period for the following set of cash flows? Year Cash Flow -$ 6,100 2,900 2,400 2,500 2,400 O 1 234
LiabilitiesOMRAssetsOMRShare capital400,000Land and building280,000Net profit60,000Plant and machinery700,000General reserve80,000Stock400,000Debentures840,000Debtors200,000Creditors200,000Bills receivables20,000Bills payable100,000Cash80,000Total1,680,000Total1,680,000 1>calculate total current liabilites 2>calculate total Current assets
Q7. Compute the Future Value of the following Cash Flows: a) Take rate as r=9% b) Take rate as r-10% Year CF Year 1 4000 1 CF 5000 2 4000 3 4000 23 4 4000 4 7000 10000 7000 5 4000 5 11000 (2x20=>
The cash flow streams for three alternative investment A, B, C and D are: Project Co 230000 Cash Flow (Tk.) C2 C3 C4 Cs C6 50000 A 55000 45000 65000 45000 75000 В 290000 45000 90000 35000 95000 65000 55000 310000 75000 55000 60000 55000 65000 45000 D 350000 77000 75000 95000 85000 65000 Determine (i) Pay Back Period, (ii) NPV if the required rate of return is 11%, and (ii) IRR for the four alternatives.
Projection of yearl cashflow Year Cashflow($) 0 (239000.00) 1 3789.00 2 47675.00 3 122097.00 4 407968.00 5 453324.00 Given that the discount rate is 10% What is the projects discounted payback period? Calculate for Net Present Value? Calculate Internal Rate of Return?