Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 $ 38,100 96,000 88,500 124,000 12,700 391,000 110,400 714,000 393,000 Year 1 $ 32,850 63,000 82,500 128,000 10,300 341,000 110,800 679,000 378,000

Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 $ 38,100 96,000 88,500 124,000 12,700 391,000 110,400 714,000 393,000 Year 1 $ 32,850 63,000 82,500 128,000 10,300 341,000 110,800 679,000 378,000

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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Financial Balance Sheet cash Account Receivable Inventories Investment Depreciable assets Accumulated depreciation Account Payable Capital Stock Retained Earnings Unappropriated Beginning of Year $41,200 65,000 40,000 10,000 198,000 (20,000) 30,000 150,000 154,200 End of Year ? $35,700 53,062 45,000 10,000 208,000 (40,000) 35,000 150,000
End of Year Beginning of Year Cash and cash equivalents $810 $79 Accounts receivable (net) 2,070 1,890 Inventory 880 910 Other current assets 490 401 Total current assets $4,250 $3,280 Total current liabilities $2,040 $1,630 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 million. Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory for the current year. (Round current ratio to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.) Current ratio Accounts receivable turnover Average collection period Inventory turnover Days in inventory :1 times days times days
Cash Accounts receivable Equipment, net Land Total assets Current Year Prior Year $ 10,200 $ 13,000 60,000 25,200 56,000 49,600 97,500 72,000 $ 223,700 $ 159,800 Compute the annual dollar changes and percent changes for each of the following items. Note: Decreases should be entered with a minus sign. Round your percentage answers to one decimal place. Percent change= Horizontal Analysis - Calculation of Percent Change Numerator: Denominator: Current Year Prior Year Dollar Change Cash $ 10,200 $ 13,000 Accounts receivable 60,000 25,200 Equipment, net 56,000 49,600 Land Total assets 97,500 72,000 $ 223,700 $ 159,800 Percent Change % % % % %
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what's the mistake in this cashflow statement
According to the information given in the table below, which of the following is cash flow from operating activities? Net income 95,000 Deprecation 38,000 Increase in Accounts Receivable 24,000 Decrease in Inventory 19,000 Increase in Accounts Payable 29,000 Select one: a. 173000 b. 157000 c. 145000 d. 119000
According to the information given in the table below, which of the following is cash flow from operating activities? Net income 86,000 Deprecation Increase in ACcounts Receivable Decrease in Inventory 31,500 18,600 14 300 Increase in Accounts Payable 24,600 Select one: a, 146400 b. 137800 C. 148200 d. 152600 العربية الإنجلياي II
Current Year Previous Year Current assets: Cash $655,500 $520,000 Marketable securities 759,000 585,000 Accounts and notes receivable (net) 310,500 195,000 Inventories 643,500 475,800 Prepaid expenses 331,500 304,200 Total current assets $2,700,000 $2,080,000 Current liabilities: Accounts and notes payable (short-term) $435,000 $455,000 Accrued liabilities 315,000 195,000 Total current liabilities $750,000 $650,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to place.
Accounts payable 919 Accounts receivable 631 Accumulated depreciation 1,813 Cash 729 Common stock 1,387 Cost of goods sold 7,578 Current portion of long-term debt 24 Depreciation expense 108 Dividends 13 Goodwill and other long-term assets 2,627 Income tax expense 24 Income taxes payable 12 Interest expense 54 Interest revenue 11 Inventories 930 Long-term liabilities 1,585 Prepaid expenses and other current assets 65 Property and equipment 2,389 Retained earnings 825 Sales 9,710 Selling, general, and administrative expenses 2,276 Unearned revenue 990 Wages payable 148 Prepare two closing journal entries
Calculate: Tax management efficiency Expense control efficiency Asset management efficiency
Subject:- Account
Cash Accounts receivable Equipment, net Land Total assets Current Year $7,440 $4,000 44,000 91,680 $197.120 Percent change Prior Year Required: Compute the annual dollar changes and percent changes for each of the following items $8,000 18,000 40,000 66,000 $132.000 (Use cells A2 to C7 from the given information to complete this question. Decreases should be entered with a minus sign. Round your percentage answers to one decimal place.) Cash Accounts receivable Equipment, net Horizontal Analysis Calculation of Percent Change Numerator: Current Year $7,440 54,000 44,000 Prior Year $8,000 18,000 40,000 Denominator: Dollar Change Change