December 31, 2025Cash$45,000Notes payable (short-term)$50,000Receivables$110,000Accounts payable32,000Less: Allowance15,00095,000Accrued liabilities5,000Inventory170,000Common stock (par $5)260,000Prepaid insuranceLand8,000Retained earnings141,00020,000Equipment (net)150,000$488,000$488,000CARVER INC.Income StatementFor the Year Ended December 31, 2025Sales revenue$1,400,000Cost of goods soldInventory, Jan. 1, 2025$200,000Purchases790,000Cost of goods available for sale990,000Inventory, Dec. 31, 2025(170,000)Cost of goods sold820,000Gross profit on salesOperating expensesNet income$580,000170,000$410,000(a)Compute the following ratios or relationships of Carver Inc. Assume that the ending account balances arerepresentative unless the information provided indicates differently. (Round answers to 2 decimal places,e.g. 1.59 or 45.87%.)(1)Current ratio(2) Inventory turnover(3)Accounts receivable turnover(4) Earnings per share(5)Profit margin on sales(6) Return on assets on December 31, 2025timestimestimes$%%

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Answered: Cash $45,000 December 31, 2025 Notes…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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SME Balance Sheet 2021 2020 Assets (in millions) Cash 85.960 56.460 Receivables 89.560 80.670 Inventories 55.750 41.260 Other Current Assets 9.950 6.760 Total Current Assets 241.220 185.150 Net Property, Plant, and Equipment 78.970 68.930 Goodwill and Other Intangible Assets 103.110 104.360 Other Non-Current Assets 6.900 4.200 Total Assets 430.200 362.640 Total Liabilities and Shareholders' Equity Payables 83.240 57.48 Current Debt 2.700 2.64 Total Current Liabilities 85.940 60.120 Long-Term Debt 122.000 119.62 Other Liabilities 21.880 22.58 Total Liabilities 229.820 202.320 Common Stock 200.380 160.32 Total Equity 200.38 160.32 Total Liabilities and Equity 430.200 362.640 INCOME STATEMENT 2021 Total Revenue (M) 488.10…
Comparative statement of financial position of Alpha Sdn Bhd as at 31 December 2023 and 2022 are as following: 2023 2022 RM million RM million Cash at bank 108.5 50.4 Accounts receivable (less: provision for doubtful debts) 393.0 219.0 Inventories 84.0 134.4 585.5 403.8 Plant and equipment (NBV) 475.6 364.8 Investment in government securities 33.6 33.6 509.2 398.4 Total assets 1,094.7 802.2 Ordinary shares 530.0 290.0 180 million 10% Preference shares 180.0 180.0 Retained earnings 105.0 73.5 815.0 543.5 Accounts payable 205.9 197.8 Tax payable 15.0 10.0 Deferred taxation 37.8 50.9 10% Debentures 21.0…
BnB Construction Inc.Balance Sheet (Millions of Dollars) Assets 2021 Est 2020 2019 Liabilities 2021 Est 2020 2019 Cash and Cash Equivalents 15 10 15 Accounts payable 115 60 30 Short-Term Investments 10 0 65 Overdrafts 115 110 60 Accounts Receivable 420 375 315 Accruals 260 140 130 Inventories 700 615 415 Total Current Liabilities 490 310 220 Total Current Assets 1145 1000 810 Long -Term Bonds and New Loan 1300 754 580 Net Plant and Equipment 1884 1190 870 Total Debt 1790 1064 800 Preferred Stock 40 40 40 Common Stock 130 130 130 Retained Earnings 1069 956 710 Total Common Equity 1199 1086 840 Total Assets 3029 2190 1680 Total Liabilities and Equity 3,029 2,190 1,680 Included is the Income Statement. Requirements: 1. Calculate the EPS, DPS, and BVPS, and Cash…
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Smirnoff Corporation's net cash flows from operating activities on its cash flows statement for 2024 are? Thank you!
Comparative statement of financial position of Alpha Sdn Bhd as at 31 December 2023 Cash at bank Accounts receivable fless: provision for doubtful Inventories Plant and equipment (NBV) Investment in government securities Total assets Ordinary shares 180 million 10% Preference shares. Retained earnings Accounts payable Tax payable Deferred taxation 10% Debentures Sales Less: Cost of sales Gross profit Operating expenses Operating profit Investment income Profit before tax Taxation Profit after tax Interim dividend paid Profit attributable to members Additional information: I. II. III. Required: b. 2023 BM million a. Prepare the cash flow statement for Alp Show the reconciliation of profit before # # # # 84.00 585.50 33.60 509.20 1.094.70 # Income statement for the year ended 31 December 2023 105.00 815.00 205.90 15.00 37.80 21.00 RM million 860.00 560.00 300.00 224.40 75.60 9.00 84.60 18.80 65.80 34.30 31.50 RM 279.70 258.70 1,094.70 802.20 50.40 219.00 134.40 (26 marks) (14 marks)…
SME Balance Sheet 2021 2020 Assets (in millions) Cash 85.960 56.460 Receivables 89.560 80.670 Inventories 55.750 41.260 Other Current Assets 9.950 6.760 Total Current Assets 241.220 185.150 Net Property, Plant, and Equipment 78.970 68.930 Goodwill and Other Intangible Assets 103.110 104.360 Other Non-Current Assets 6.900 4.200 Total Assets 430.200 362.640 Total Liabilities and Shareholders' Equity Payables 83.240 57.48 Current Debt 2.700 2.64 Total Current Liabilities 85.940 60.120 Long-Term Debt 122.000 119.62 Other Liabilities 21.880 22.58 Total Liabilities 229.820 202.320 Common Stock 200.380 160.32 Total Equity 200.38 160.32 Total Liabilities and Equity 430.200 362.640 INCOME STATEMENT 2021 Total Revenue (M) 488.10…
SME Balance Sheet 2021 2020 Assets (in millions) Cash 85.960 56.460 Receivables 89.560 80.670 Inventories 55.750 41.260 Other Current Assets 9.950 6.760 Total Current Assets 241.220 185.150 Net Property, Plant, and Equipment 78.970 68.930 Goodwill and Other Intangible Assets 103.110 104.360 Other Non-Current Assets 6.900 4.200 Total Assets 430.200 362.640 Total Liabilities and Shareholders' Equity Payables 83.240 57.48 Current Debt 2.700 2.64 Total Current Liabilities 85.940 60.120 Long-Term Debt 122.000 119.62 Other Liabilities 21.880 22.58 Total Liabilities 229.820 202.320 Common Stock 200.380 160.32 Total Equity 200.38 160.32 Total Liabilities and Equity 430.200 362.640 INCOME STATEMENT 2021 Total Revenue (M) 488.10…
Balance Sheet for Bearcat Hathaway, 2022 2021 2022 Cash Accounts. Receivable $5,268,485 $10,268,485 Inventory $529,062 $696,685 Current Assets $8,371,777 $13,279,842 Less $2,574,230 $2,314,672 Gross Fixed Assets $16,251,665 $20,567,330 Accum.Depreciation Total Assets $7,460,897 $10,117,819 Accounts Payable Notes. Payable Current Liabilities Calculate the net working capital in 2022. Long Termi Debt Total Liabilities, None of these options are correct $10,572,740 $5,664,675 $8,854,338 $3,946,273 Total $17,162,545 $23,729,353 Liabilities and Equity Capital Surplus Retained. Earnings 2021 2022 $1,673,992 $2,438,271 Common Net Fixed Assets $8,790,768 $10,449,511 Stock ($0.50 $1,300,000 $1,600,000 par) $1,033,110 $1,987,233 $2,707,102 $4,425,504 $9,242,830 $11,468,302 $11,949,932 $15,893,806 $1,148,120 $1,800,969 $2,764,493 $4,434,578 $17,162,545 $23,729,353
tyson Company's working capital accounts at December 31, 2018, are given below: Current Assets: Cash $100,000 Marketable Securities 50,000 Accounts Receivable $250,000 Less Allowance for Doubtful Accounts (20,000) 230,000 Inventory, Lifo 300,000 Prepaid 8,000 Total Current Assets $688,000 Current Liabilities: Accounts Payable $200,000 Notes Payable 50,000 Taxes Payable 10,000 Accrued Liabilities 30,000 Total Current Liabilities $290,000 During 2019, DeCort Company completed the following transactions: a. Purchased fixed assets for cash, $20,000. b. Exchanged DeCort Company common stock for land. Estimated value of transaction, $80,000. c. Payment of $40,000 on short-term notes payable. d. Sold marketable securities costing $20,000 for $25,000 cash. e.…
Flint Corp. reported the following items on its June 30, 2020 trial balance and on its comparative trial balance one year earlier: June 30, June 30, 2020 2019 Cash in bank $12,050 $9,770 Petty cash 680 540 Investment in shares of GTT Ltd. (to be sold within 60 days) 7,000 -0- Investment in Canada 60-day treasury bills 20,400 -0- Accounts payable 66,505 69,310 Temporary bank overdraft, chequing account 13,000 1,300 Determine the June 30, 2020 cash and cash equivalents amount for the 2020 statement of cash flows, and calculate the change in cash and cash equivalents since June 30, 2019. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Cash and Cash Equivalents 24 Net Increase/(Decrease) $
Cash $ 30,000 Marketable securities $ 25,000 Accounts Receivable Inventory Total current Assets Net Fixed Assets Total Assets Accounts Payable $ 120,000 Short-term Notes Payable Accrued Liabilities $ 20,000 Total Current Liabilities Long-Term Debt Total Debt Stockholder's Equity $ 600,000 Total Liabilites and Equity Assumptions: Sales = $1,825,000 Gross profit margin = 30% Inventory Turnover = 7.0 365 days per year DSO = 40 days Current ratio = 1.40 Total Asset Turnover = 1.25 Complete the Balance Sheet below based on the given information

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