Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Debit Balances Credit Balances 20,350 37,000 1,100 200 171,175 36,000 26,000 Common Stock 50,000 Retained Earnings 94,150 Dividends 15,000 Fees Earned 429,850 Wages Expense 270,000 Rent Expense 63,000 Advertising Expense 25,200 Miscellaneous Expense 5,100 608,125 636,000 1. Prepare a corrected unadjusted trial balance as of May 31, 2016. List all accounts in the order of Assets, Liabilities, Stockholders' equity, Revenues, and Expenses. If an amount box does not require an entry, leave it blank.

Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Debit Balances Credit Balances 20,350 37,000 1,100 200 171,175 36,000 26,000 Common Stock 50,000 Retained Earnings 94,150 Dividends 15,000 Fees Earned 429,850 Wages Expense 270,000 Rent Expense 63,000 Advertising Expense 25,200 Miscellaneous Expense 5,100 608,125 636,000 1. Prepare a corrected unadjusted trial balance as of May 31, 2016. List all accounts in the order of Assets, Liabilities, Stockholders' equity, Revenues, and Expenses. If an amount box does not require an entry, leave it blank.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13GI

See similar textbooks

Similar questions

Assets Cash S.T. Investments Accts Receivable Inventories Total Current Assets Net PP&E Total Assets Liabilities. Accts Payable Notes Payable Accruals Balance Sheet Current Liabilities L.T. Bonds Preferred Stock Common Stock Retained Earnings Total Equity Total Liab. & Equity Less: Interest 2021 120 30 400 Pre-tax Earnings 1,200 1,750 3,000 4,750 100 100 300 500 520 200 530 3,000 3,530 4,750 Net Sales COGS except Dep Depreciation & Amortization Other Operating Expenses EBIT Income Statements 2021 5,500 3,800 180 600 920 60 860 215 Taxes (25%) Preferred Dividends 15 Net Income for CS Holders 630 2020 $102 40 384 774 1. What is the company's MVA? 2. What is the company's EVA in? 3. What is the current ratio of the Company? 1,300 1,780 3,080 180 28 370 578 350 100 500 1,552 2,052 3,080 Number of Common Stock Outstanding = 1,200 Price of Common Stock = 4.00 WACC Cost of Capital = 12.0% Return on Investment (ROI)= 15.97% 2020 4,800 3,710 180 470 440 40 400 100 7 293
Compared to the ROE in 2020, the ROE in 2021 has Improved / 6.65% Improved / 3.43% Worsened / -6.65% Worsened / -3.43% Stayed the same / 0% by
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.
what is the answer of a?
Continuing Case 15. Personal Balance Sheet Jamie Lee Jackson, age 24, now a busy full-time college student and part-time bakery clerk, has been trying to organize all of her priorities, including her budget. She has been wondering if she is allocating enough of her income towards savings, which includes accumulating enough money towards the $10,500 down payment she needs to begin her dream of opening a cupcake café. Jamie Lee has been making regular deposits to both her regular, as well as her emergency savings account. She would really like to sit down and get a clearer picture of how much she is spending on various expenses, including rent, utilities, entertainment and how her debt compares to her savings and assets. She realizes that she must stay on track and keep a detailed budget if she is to realize her dream of being self-employed after college graduation. Use the details below to complete Jamie Lee's personal financial plan to determine her financial position. Each answer must…
Calculate the dividend payout ratio.
Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 70 on December 31, 2012. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 Retained earnings, January 1 Net income Dividends: On preferred stock On common stock Retained earnings, December 31 20Y2 $3,329,700 790,400 20Y1 $2,805,000 574,500 (9,800) (40,000) $4,070,300 (9,800) (40,000) $3,329,700 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 20Y1 Sales Cost of merchandise sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue and expense: 20Y2 20Y1 $5,340,680 $4,920,640 1,737,400 1,598,410 $3,603,280 $1,292,110 1,100,680 $3,322,230 $1,583,590 930,050 $2,392,790 $2,513,640 $1,210,490 $808,590 Other revenue 63,710 51,610 Other expense (interest) (376,000) (207,200)…
#1 O Category. Prior Year Current Year Accounts payable 3,134.00 5,904.00 Accounts receivable 6,978.00 8,907.00 Accruals 5,624.00 6,194.00 Additional paid in capital 20,362.00 13,212.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,484.00 18,100.00 Current portion long-term debt 500 500 Depreciation expense 1,003.00 1,011.00 Interest expense 1,257.00 1,156.00 Inventories 3,097.00 6,657.00 Long-term debt 16,532.00 22,027.00 Net fixed assets 75,252.00 74,022.00 Notes payable 4,045.00 6,536.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,789.00 34,684.00 Sales 46,360 45,408.00 Тахes 350 920 What is the firm's cash flow from financing? Submit Answer format: Number: Round to: 0 decimal places.
How effective is the organization in collecting its receivables? Use the Hillside, Inc. Balance Sheet information in cells A2 through D18 and cells A21 through B38 to complete the Financial Performance Calculations in cells A40 through C60. Table 1: Hillside, Inc. Balance Sheet ($ in Millions) ASSETS LIABILITIES Cash & Marketable Securities 449.90 Accounts Payable 1,611.20 Accounts Receivable 954.80 Salaries Payable 225.20 Inventories 3,645.20 Other Current Liabilities 1,118.80 Other Current Assets 116.60 Total Current Liabilities 2,955.20 Total Current Assets 5,165.27 Other Liabilities 693.40 Machinery & Equipment 1,688.90 Land 1,129.70 Total Liabilities 3,648.60 Buildings 2,348.40 Depreciation (575.60) SHAREHOLDER'S…
The following are the Financial Statements of Louise Company: Loulse Company Statement of Financial Position As of December 31, 2015, and 2016 2015 2016 ASSETS Current Assets Cash Accounts Receivables, net Merchandise Inventory Marketable Securities 198,000 30,000 15,000 20,000 10,000 273,000 270,000 40,000 10,000 20,000 8.000 348,000 Prepaid Expenses Total Current Assets Non-Current Assets Land Building, net Machinery, net Fumiture and Fixtures, net Long-term Investments Total Non-Current Assets 500,000 390,000 100,000 50,000 100,000 L140.000 500,000 380,000 90,000 45,000 80,000 1,095,000 TOTAL ASSETS 1413.000 1.443.000
Item Prior year Current year Accounts payable 8,112.00 7,889.00 Accounts receivable 6,029.00 6,526.00 Accruals 981.00 1,445.00 Cash ??? ??? Common Stock 10,050.00 11,831.00 COGS 12,659.00 18,136.00 Current portion long-term 5,054.00 5,053.00 debt Depreciation expense 2,500 2,814.00 Interest expense 733 417 Inventories 4,101.00 4,816.00 Long-term debt 14,355.00 13,032.00 Net fixed assets 51,776.00 54,131.00 Notes payable 4,395.00 9,850.00 Operating expenses (excl. 13,977 depr.) 18,172 Retained earnings 28,273.00 29,816.00 Sales 47,524 Taxes 2,084 2,775 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.