Cash Sokolsky Designs, Inc. Vertical Analysis Years Ended December 31, 2021, 2020, and 2019 2021 Receivables, net Inventory Prepaid expenses Property, plant and equipment, net Total assets Amount $ 10,000 35,000 240,000 15,000 200,000 $ 500,000 Percent Use the analysis to explain the reason for the cash shortage. Sokolsky's cash shortage is likely due to the dramatic plant and equipment appears to be and cash position 2.0 % 7.0 % 48.0 % 3.0 % 40.0 % 100.0 in % $ Amount 2020 4,440 23,200 177,600 21,200 217,560 $444,000 Percent due to the 1.0 % 5.2 % 40.0 % 4.8 % 49.0 % 100.0 % Amount $ 2019 3,990 23,940 131,670 15,960 223,440 $ 399,000 Percent 1.0 % 6.0 % 33.0 % 4.0 % 56.0 % 100.0 % as a percent of total assets. Property. in inventory which has led to a tight

Cash Sokolsky Designs, Inc. Vertical Analysis Years Ended December 31, 2021, 2020, and 2019 2021 Receivables, net Inventory Prepaid expenses Property, plant and equipment, net Total assets Amount $ 10,000 35,000 240,000 15,000 200,000 $ 500,000 Percent Use the analysis to explain the reason for the cash shortage. Sokolsky's cash shortage is likely due to the dramatic plant and equipment appears to be and cash position 2.0 % 7.0 % 48.0 % 3.0 % 40.0 % 100.0 in % $ Amount 2020 4,440 23,200 177,600 21,200 217,560 $444,000 Percent due to the 1.0 % 5.2 % 40.0 % 4.8 % 49.0 % 100.0 % Amount $ 2019 3,990 23,940 131,670 15,960 223,440 $ 399,000 Percent 1.0 % 6.0 % 33.0 % 4.0 % 56.0 % 100.0 % as a percent of total assets. Property. in inventory which has led to a tight

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

What findings can you give about these FINANCIAL PROJECTIONS below. (Feasibilty Study)
Refer to page 580, Exercise 11-10, Prepare the statement of cash flow using the indirect method. Edit View Insert Format Tools Table 12pt v Paragraph v BIU A 画 O words MacBook Pro Q Search or enter website name #3 $ & 3 4 7 8. E R Y U F G H J K < (O
Rr.20.
Vijay shiyal
Please do not give solution in image format thanku
SydMel Ltd Statement of financial position As of 30 June 2020. 2020 2019 Assets Cash at Bank 18000 - Account Receivable 34000 28000 Inventories 112000 96000 Land 40000 80000 Buildings 120000 120000 Accumulated depreciation-Buildings (10000) (6000) Equipment 72000 60000 Accumulated depreciation-Equipment (30000) (18000) Total assets 356000 360500 Liabilities Account Payables 52000 48000 Bank Overdraft - 20000 Equity Share Capital 214000 200000 Retained Earnings 90000 92500 Total liabilities and equity 356000 360500 SydMel Ltd Statement of profit and loss and other comprehensive income For the year ended 30 June 2020. 2020 income $ $ Sales revenue - 445500 Less: expenses Cost of sales 288000 Employee expenses 78000 Interest expenses 5000 Loss on…
Prepare a statement of cashflow( Direct method) The balance sheet provided by the title is only part of the balance sheet, so the final calculated Asset may not be equal to Equity and Liabilities, but it does not affect the preparation of the cash flow statement.
27. On December 31, 2022, Marizor Company believed that the assets of a cash generating unit are impaired based on an analysis of economic indicators. The assets and liabilities of the cash generating unit at carrying amount on December 31, 2022 are: Cash 4,000,000 Accounts receivable 6,000,000 Allowance for doubtful accounts 1,000,000 Inventory Property, plant and equipment Accumulated depreciation 7,000,000 22,000,000 4,000,000 Goodwill 3,000,000 2,000,000 Accounts payable Loans payable The entity determined that the value in use of the cash generating unit is P28,000,000. The accounts receivable are considered collectible, except those considered doubtful. The carrying amount of the inventory is lower than fair value less cost of disposal. What is the impairment loss to be allocated to property, plant and equipment? А. 3,600,000 1,000,000 В. 6,000,000 С. 3,000,000 D. 1,800,000
Question 12: Employees are required to contribute toward the purchase of disability insurance in all 50 states. Answer: А. O True В. O False
Please let me know which part of the cash flow calculations or cashflow statement setup/structure that I am doing wrong. The cashflow change should be $86,000(from the balance sheet) but I got a total of -$159,000. Income statement Assets 20X1 20X0 Difference 20X1 20X0 Difference Net credit sales Current assets $7,200,000 $6,500,000 $700,000 Cash Cost of goods sold $450,000.00 $364,000.00 $86,000 4,320,000 3,900,000 $420,000 Accounts receivable—net Gross profit 692,000 625,000 $67,000 2,880,000 2,600,000 $280,000 Inventory Operating expenses (including income taxes) 723,000 610,000 $113,000 2,376,000 2,145,000 $231,000 Prepaid expenses Net income 50,000 70,000 ($20,000) $504,000 $455,000 $49,000 Total current assets 1,915,000 1,669,000 $246,000 Long-term investments Cash flow 150,000 20,000…
Compute Cash Conversion Cycle for Competing Firms Kellogg's Company and General Mills compete in the consumer packaged goods (CPG) sector. Refer to the following 2018 financial data for the two companies to answer the requirements. $ millions Total revenue Cost of sales and services Average accounts receivable Average inventory Average accounts payable K GIS $14,597.0 $16,790.0 9,871.0 10,312.9 1,382.0 2,607.0 2,324.0 1,562.9 2,348.0 3,483.0 Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places. a. Compute the following measures for both companies. 1. Days sales outstanding (DSO) Company K GIS DSO 0 0 2. Days inventory outstanding (DIO) Company K GIS DIO 0 0 3. Days payable outstanding (DPO) Company K GIS DPO 0 0 4. Cash conversion cycle (CCC) Company K GIS CCC 0 0
i need the answer quickly