Hansaben CashLandLong-term-investmentsMerchandise inventoryNotes receivable (due in 30 days)Notes receivable (due in 5 years)Prepaid insuranceShort-term investmentsSuppliesTotal assets$ 12,00030,00015,0006,0001,0005,0001,50010,000250$ 80,750The company's unclassified balance sheet reported the assets listed in the above table. The total current assets that would bereported on a classified balance sheet prepared for the company are:O $20,750O $24,750O $30,750O $80,750

Total assets include current assets and non-current assets. Current assets include all those assets…

Cash Land Long-term-investments Merchandise inventory Notes receivable (due in 30 days) Notes receivable (due in 5 years) Prepaid insurance Short-term investments Supplies Total assets $ 12,000 30,000 15,000 6,000 O $20,750 O $24,750 O $30,750 O $80,750 1,000 5,000 1,500 10,000 250 $ 80,750 The company's unclassified balance sheet reported the assets listed in the above table. The total current assets that would be reported on a classified balance sheet prepared for the company are:

Cash Land Long-term-investments Merchandise inventory Notes receivable (due in 30 days) Notes receivable (due in 5 years) Prepaid insurance Short-term investments Supplies Total assets $ 12,000 30,000 15,000 6,000 O $20,750 O $24,750 O $30,750 O $80,750 1,000 5,000 1,500 10,000 250 $ 80,750 The company's unclassified balance sheet reported the assets listed in the above table. The total current assets that would be reported on a classified balance sheet prepared for the company are:

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4PB

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Cullumber company has these comparative balance sheet data:
Find the following using the data bellow Accounts receivable = 111,100,000 Current assets = 316,500,000 Total assets = 600,000,000 A. Return on assets B. Common equity C .Quick ratio
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The following information was taken from the accounts receivable records of Sarasota Corporation as at December 31, 2020: OutstandingBalance Percentage Estimatedto be Uncollectible 0 – 30 days outstanding $160,000 0.5% 31 – 60 days outstanding 66,000 2.5% 61 – 90 days outstanding 40,200 4.0% 91 – 120 days outstanding 20,600 6.5% Over 120 days outstanding 5,600 10.0% (a) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a credit balance of $1,200 prior to the adjustment (b) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a debit balance of $3,880 prior to the adjustment.
[The following information applies to the questions displayed below. Simon Company's year-end balance sheets follow . Current Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets , net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,224 89,900 115,000 10,055 277,807 $ 523,986 $ 36,498 37,266 62,200 50,400 84,000 57,000 9,581 4,141 259,433 223,893 $ 451,712 $ 372,700 $131,777$ 77, 103 $ 49,688 99,494 162,500 130,215 $ 523,986 104, 9 83,190 162, 5 162,500 107,176 177,322 $ 451,712 372,700
Cullumber Company has these comparative balance sheet data: CULLUMBER COMPANYBalance SheetsDecember 31 2022 2021 Cash $ 16,350 $ 32,700 Accounts receivable (net) 76,300 65,400 Inventory 65,400 54,500 Plant assets (net) 218,000 196,200 $376,050 $348,800 Accounts payable $ 54,500 $ 65,400 Mortgage payable (15%) 109,000 109,000 Common stock, $10 par 152,600 130,800 Retained earnings 59,950 43,600 $376,050 $348,800 Additional information for 2022: 1. Net income was $34,000. 2. Sales on account were $383,300. Sales returns and allowances amounted to $26,600. 3. Cost of goods sold was $200,600. 4. Net cash provided by operating activities was $59,000. 5. Capital expenditures were $26,400, and cash dividends were $16,500. Compute the following ratios at December 31, 2022. (Round current ratio and inventory turnover to 2 decimal…
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[The following information applies to questions displayed below. Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets , net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings liabilities and equity $ 31,224 89,900 115,000 10,055 277,807 $523,986 $ 36 , $ 37, 266 62,200 50,400 84,000 9,581 4,141 259,433 223,893 $ 451,712 $ 372,700 \$131 49,688 99, 494 162,500 130,215 $ 523,986 104,933 162,500 102,176 $ 451, 712 83, 190 162,500 77,322 , 700
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