Cash Flow Type 10 11 12 13 Cash 1 FA 2 3 4 5 6 OA (21,000) 7 8 9 61,500 IA (18,000) OA (1,500) Accts. Allow for Rec. 42,300 OA 37,700 (37,700) Totals 58,700 4,600 D/A Supplies Equip. A/D 1,500 (1,300) 25,000 (5,625) Land - 18,000 = (92) (92) 200 25,000 (5,625) 18,000 = = = = = = = Accts. Notes Salaries Interest Common Payable Payable Payable Payable Stock R/E 1,500 (1,500) 25,000 3,500 1,063 Using the horizontal model, answer the following questions: 25,000 3,500 1,063 61,500 61,500 What are the company's total Current Assets? Revenue -Expense = Net Inc 42,300 42,300 (21,000) 21,000 (3,500) 3,500 (1,300) 1,300 (1,063) 1,063 (5,625) 5,625 (92) 92 9,721 42,300 32,580 What is it? 42,300 Revenue (21,000) Operating Exp (3,500) Salaries Exp (1,300) Supplies Exp (1,063) Interest Exp (5,625) Depr. Exp (92) Bad Debt Exp 9,721

Cash Flow Type 10 11 12 13 Cash 1 FA 2 3 4 5 6 OA (21,000) 7 8 9 61,500 IA (18,000) OA (1,500) Accts. Allow for Rec. 42,300 OA 37,700 (37,700) Totals 58,700 4,600 D/A Supplies Equip. A/D 1,500 (1,300) 25,000 (5,625) Land - 18,000 = (92) (92) 200 25,000 (5,625) 18,000 = = = = = = = Accts. Notes Salaries Interest Common Payable Payable Payable Payable Stock R/E 1,500 (1,500) 25,000 3,500 1,063 Using the horizontal model, answer the following questions: 25,000 3,500 1,063 61,500 61,500 What are the company's total Current Assets? Revenue -Expense = Net Inc 42,300 42,300 (21,000) 21,000 (3,500) 3,500 (1,300) 1,300 (1,063) 1,063 (5,625) 5,625 (92) 92 9,721 42,300 32,580 What is it? 42,300 Revenue (21,000) Operating Exp (3,500) Salaries Exp (1,300) Supplies Exp (1,063) Interest Exp (5,625) Depr. Exp (92) Bad Debt Exp 9,721

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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Instructions This assignment is designed for practicing both the retailer/merchandiser accounting cycle and your basic excel skills. Below are select sales transactions for two companies. You will need to enter the missing pieces of each transaction on the journal entry tab. Each missing piece of information is highlighted in yellow. The only cell where an actual number is to be input is on the journal entries worksheet. Please note: not every yellow cell requires input (it could be left blank if appropriate). After completing the journal entries, you must then complete the missing pieces of the T accounts, trial balance, and statements highlighted in yellow. Only excel functions may be used to calculate the appropriate cell value on these pages. DO NOT INPUT THE ACTUAL NUMBER INTO THE T ACCOUNTS, TRIAL BALANCE, OR STATEMENTS. Use excel functions (such as making a cell equal another from the journal entry page, summing numbers together, or using the plus or minus symbols to help you…
Camaro GTO Torino Cash $ 2,000 $ 110 $ 1,000 Short-term investments 50 0 580 Current receivables 350 470 700 Inventory 2,600 2,420 4,230 Prepaid expenses 200 500 900 Total current assets $ 5,200 $ 3,500 $ 7,410 Current liabilities $ 2,000 $ 1,000 $ 3,800 Compute the current ratio and acid-test ratio for each of the following separate cases.
Fl 3 Clipboard S TextBox 1 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 0 6 Time PRETULE Windy C <✓d C Font immmmmmermis Bonds Ready Accessibility: Good to go 4 LOKAMASRAMASHHASHMER Project Y Cash Flows Project Z Cash Flows 0 $ (40,000.00) $ (120,000.00) 1 $ 15,000.00 $ 43,000.00 2 $ 15,000.00 $ 43,000.00 3 $ 4 $ 43,000.00 43,000.00 43,000.00 5 $ 15,000.00 $ 15,000.00 $ 15,000.00 $ 4. A firm with a 13% WACC is evaluating two projects (Y and Z) for this year's capital budget. After- tax cash flows are shown in the table below. Calculate NPV, IRR, MIRR, and payback for each project. Assuming the projects are independent, which one(s) would you recommend accepting? If the projects are mutually exclusive, which would you recommend accepting? Alignment Risk & Return ARARASSERRESKRE ---------TTTTTTTT F Capital Budgeting Q Search MAHAS + G THE $ www H podu .. Number hp
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Week1/Chapter 2 Aagrmex O Qurstion 4-Ch 2- Finl. Stateme x C4 lem Simmone ls education.com/ext/man/inder.htmi.con condexternal browser olaunchUr http:62534%252F252Fne Statements & Cash Flow Seved Sheaves, Inc., has sales of $55,500, costs of $25,200, depreciation expense of $2,800, and interest expense of $2,550. If the tax rate is 24 percent, what is the operating cash flow, or OCF? (Do not round intermediate calculations.) Operating cash floe earch
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2. Nem Level Which of the two methods yields a conceptaly pefenbile valion of invemory E7-10 107.5 Alternative Ivety Methods Nevens Compary nes a peiodic invenory Duting November, the foillowing tranactions occurred: Dete Tronsecfion Units Cot/Uni November Balonce $3.50 50 350 Sole Pierhme Purchese Sole 13 300 400 5.00 21 28 200 SHOW ME HOW 150 Required: 1. Compute the cost of goods sold for November and the inventory ar the end of November for each of the following cost flow assumptions: FIPO 2. b. LIPO C Average cost Next Level What can you conclude about the effects of the inventory cost flow assumptions on the financial 2. statements
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Net Sales 36000 Commission received 6430 Interest received 3570 Cost of goods sold 7400 Dividends received 2220 From the above information the total income will be: a.OMR 41280 b.OMR 42820 c.OMR 48220 d.OMR 40820 Fast plz***********
selected intoomation The Following is Foom Meney Company's Cooperative balance Sheets At decombeo 31 2020 Rs.155,000 2019 es 260,000 fuaniture Accumulate d depseceation (74,400) 421y 400) The income state ment Yeports deptecti expense For the yegsnituse costng Jusniture costing seld Fos its the 170om the sale of Rs 36 000 Rs 105,000 book cash of Also was Value, furniture. Yee cuied Conpute
Cajegas Trucking ServicesTrial BalanceJune 30, 2021Debit CreditCash in Bank P 1,020,000Petty Cash Fund 1,000Accounts Receivable 120,000Est. Uncollectible Account P 1,200Unused Supplies 15,000Prepaid Insurance 8,500Prepaid Rent 30,000Delivery Truck 1,500,000Acc. Depreciation – Delivery Truck 250,000Accounts Payable 130,000P. Cagejas, Capital 1,818,500P. Cagejas, Drawings 50,000Trucking Income 935,000Taxes and Licences 10,000Repairs and Maintenance 27,000Retainer Fees 25,000Salaries and Wages 320,000Utilities Expense 8,200Total P 3,134,700 P 3,134,700Additional Information1. Provision for Uncollectible Account should be at 2% of the outstanding receivable account.2. Supplies actually on hand, P5,000.3. Of the Prepaid Insurance, P6,200 has actually expired.4. P18,000 of the Prepaid Rental has expired.5. Depreciation Expense for the period is P105,000.Required:a. An 8-column worksheetb. Balance Sheetc. Income Statementd. Statement of Changes in Owner’s Equity