IIChanges in Current Operating Assets and Liabilities-Indirect MethodBlue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows:Dec. 31, 20Y2Accounts receivable$23,900Inventory72,300Accounts payable25,300Dividends payable22,000Adjust net income of $103,800 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.$Dec. 31, 20Y1$23,20073,00024,40023,000

Cash Flow -A Statement of Cash Flow is a Financial Statement that includes the inflow and outflow of…

Changes in Current Operating Assets and Liabilities-Indirect Method Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $23,900 $23,200 Inventory 72,300 73,000 Accounts payable 25,300 24,400 Dividends payable 22,000 23,000 Adjust net income of $103,800 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.

Changes in Current Operating Assets and Liabilities-Indirect Method Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $23,900 $23,200 Inventory 72,300 73,000 Accounts payable 25,300 24,400 Dividends payable 22,000 23,000 Adjust net income of $103,800 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.

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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Changes in current operating assets and liabilities-indirect method Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Dec. 31, Accounts 20Y2 20Y1 $25,300 $24,900 receivable Inventory 67,200 67,900 Accounts 28,100. 26,900 payable Dividends 18,000 payable 17,000 Adjust net income of $76,400 for changes in operating assets and liabilities to arrive at net cash flows from operating activities. Check My Work 5 more Check My Work uses remaining.
Changes in Current Operating Assets and Liabilities—Indirect Method Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $29,800 $29,100 Inventory 67,600 68,300 Accounts payable 18,500 17,300 Dividends payable 18,000 19,000 Adjust net income of $86,000 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.$fill in the blank 1
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The comparative temporary investments and inventory balances of a company follow: Current Year Previous Year Accounts payable $60,260 $46,000 Long-term debt 54,510 79,000 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Amount of Change Increase/Decrease Percentage Accounts payable $fill in the blank 1 fill in the blank 3% Long-term debt $fill in the blank 4 fill in the blank 6%
Horizontal Analysis The comparative temporary investments and inventory balances of a company follow. Current Year Previous Year Accounts payable $59,409 $48,300 Long-term debt 44,795 52,700 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Amount of Change Increase/Decrease Percentage Accounts payable $ % Long-term debt $ %
Changes in Current Operating Assets and Liabilities-Indirect Method Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20оY2 Dec. 31, 20Y1 Accounts receivable $17,400 $17,100 Inventory 60,500 61,200 Accounts payable 19,400 18,100 Dividends payable 20,000 19,000 Adjust net income of $87,400 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
Question Content Area The following information was taken from Slater Company's balance sheet: Line Item Description Amount Fixed assets (net) $2,694,060 Long-term liabilities 498,900 Total liabilities 551,680 Total stockholders' equity 1,724,000 Determine the company’s (a) ratio of fixed assets to long-term liabilities and (b) ratio of liabilities to stockholders’ equity. Round your answers to one decimal place. Line Item Description Answer a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equity
Horizontal Analysis The comparative temporary investments and inventory balances of a company follow: Current Year Previous Year Accounts payable $51,212 $43,400 Long-term debt 57,597 78,900 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Amount of Change Increase/Decrease Percentage Accounts payable $fill in the blank fill in the blank fill in the blank Long-term debt $fill in the blank fill in the blank fill in the blank
Current position analysis the following data were taken from the balance sheet of Nilo company at the end of the two recent Fisher years; Current assets: Cash Marketable securities Account and note receivable (net) Inventories Prepaid expenses Total Current assets Current liabilities Account and notes payable ( short-term) Accrued liabilities Total Current liabilities Current year $417,000 cash 483,100 Marketable securities 197,700 acct not receivable ( net) 845,500 inventory 435,500 prepaid 2,379,000 Total Current assets Previous year $339,200 cash 381,600 Marketable securities 127,200 access note receivable ( net) 614,300 inventory 392,700 prepaid expenses 1,855,000 Total Current assets Current year Current liabilities Short term $353,800 Accrued liabilities 256,200 Total Current liabilities $610,000 Previous year Short term $371,000 Accrued liabilities 159,000 Total Current liabilities $530,000 A. Determine for each year 1 capital, 2 the current ratio,…
Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $308,140 $179,040 Property, plant, and equipment 576,520 522,200 Intangible assets 109,340 44,760 Current liabilities 228,620 134,280 Long-term liabilities 397,600 313,320 Common stock 99,400 104,440 Retained earnings 268,380 193,960 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place. Kwan CompanyComparative Balance SheetFor the Years Ended December 31 CurrentyearAmount CurrentyearPercent PreviousyearAmount PreviousyearPercent Current assets $308,140 fill in the blank 1% $179,040 fill in the blank 2% Property, plant, and equipment 576,520 fill…
Changes in Current Operating Assets and Liabilities-Indirect Method Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $22,700 $21,500 Inventory 73,700 74,400 Accounts payable 19,800 18,300 Dividends payable 30,000 28,000 Adjust net income of $125,900 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 450,600 298,350 152,250 99,300 4,500 Cost of goods sold Gross profit Operating expenses Interest expense. Income before taxes Income tax expense Net income $ 10,000 Accounts payable Accrued wages payable 9,200 31,400 Income taxes payable 30,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 152,300 Retained earnings $ 236,100 Total liabilities and equity CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity 48,450 19,518 $ 28,932 $ 17,500 3,800 4,700 69,400 88,000 52,700 $ 236,100 Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total…