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 $25,600 $25,200 Inventory 76,800 77,500 Accounts payable 26,700 24,900 Dividends payable 20,000 21,000 Adjust net income of $95,500 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 Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $25,600 $25,200 Inventory 76,800 77,500 Accounts payable 26,700 24,900 Dividends payable 20,000 21,000 Adjust net income of $95,500 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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Horizontal Analysis The comparative temporary investments and inventory balances of a company follow: Current Year Previous Year Accounts payable $79,360 $62,000 Long-term debt 28,046 37,900 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/tcrease 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, 20Y2 Dec. 31, 2OY1 Accounts receivable $30,000 $29,200 Inventory 75,800 76,500 Accounts payable 28,000 26,300 Dividends payable 21,000 23,000 Adjust net income of $102,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. $ 102,400 X
What does the vertical analysis reveal on ABC Corporation in terms of Statement of Financial Position
Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $661,910Interest expense 116,810Average total assets 6,280,000Determine the return on total assets. If required, round the answer to one decimal place.fill in the blank 1 %
Vertical Analysis of Balance Sheet Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows: Current Year Previous Year Current assets $299,520 $182,520 Property, plant, and equipment 542,880 484,380 Intangible assets 93,600 35,100 Current liabilities 215,280 112,320 Long-term liabilities 365,040 287,820 Common stock 93,600 98,280 Retained earnings 262,080 203,580 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. Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous уear year year year Amount Percent Amount Percent Current assets $299,520 % $182,520 % Property, plant, and equipment 542,880 % 484,380 Intangible assets 93,600 % 35,100 % Total assets $936,000 % $702,000 % Current…
Evaluate the company's financial position and results of operation using the comparative statement analysis: i. Short-term solvency analysis ii. Long-term financial position analysis iii. Operating efficiency and profitability analysis
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The comparative balance sheets and an income sutement for Gibson Corporation follow: Balance Sheets As of December 31 Year 2 Year 1 Assets Cash Accounts receivable Merchandise inventory Prepaid rent Equipment Accumulated depreciation Land $ 60,675 27,614 156,047 2,485 249,480 (136,850) 191,680 $ 551, 131 34:53 $ 40,460 20, 250 171,650 4,970 285, 880 (230, 850) 76, 780 $ 369, 140 Total assets Liabilities Accounts payable (inventory) Salaries payab le Stockholders' equity Common stock, $50 par value Retained earnings Total Liabitities and equity $ 65,942 28, 968 74,800 24, 830 246, 500 209, 721 $ 551,131 198, 500 71,010 $ 369, 140 Income Statenent For the Year. Ended Decenber 31. Year 2 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Rent expense Salaries expense Other uperating enpenses $1,499,000 (796,6691 702,331 (22, 400) .(25,740) (258, 200) (257,260). S 338.711 Net income
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 $278,110 $150,990 Property, plant, and equipment 575,400 517,680 Intangible assets 105,490 50,330 Current liabilities 182,210 100,660 Long-term liabilities 412,370 309,170 Common stock 95,900 93,470 Retained earnings 268,520 215,700 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 Sheet For the Years Ended December 31 Current assets $278,110 fill in the blank 1% $150,990 fill in the blank 2% Property, plant, and equipment 575,400 fill in the blank 3% 517,680 fill in the blank 4% Intangible assets 105,490…
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities 1. Working capital 2. Current ratio Current Year Previous Year 3. Quick ratio $391,000 515,000 634,000 368,000 182,000 $2,090,000 $725,000 275,000 $1,000,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year $300,000 354,000 426,000 222,000 138,000 $1,440,000 $600,000 300,000 $900,000 LA Previous Year
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 $25,200 $24,200 Inventory 50,000 50,700 Accounts payable 25,300 24,900 Dividends payable 15,000 16,000 Adjust net income of $73,300 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.