Transaction Data Transaction Data for 2025: Issuance of common stock for cash $ 36,000 Payment of notes payable $ 51,100 Depreciation expense 23,000 Payment of cash dividends 45,000 Purchase of equipment with cash 73,000 Issuance of notes payable to borrow 62,000 cash Acquisition of land by issuing long-term notes 119,000 Gain on sale of building 4,000 payable Book value of building sold 60,000 Net income 71,500 Current Accounts Current Assets: 2025 2024 Cash Accounts Receivable Merchandise Inventory $ 99,700 $ 18,000 64,300 69,400 88,000 81,000 Current Liabilities: Accounts Payable 57,700 55,300 Income Tax Payable 15,000 17,200 Print Done ☑

Transaction Data Transaction Data for 2025: Issuance of common stock for cash $ 36,000 Payment of notes payable $ 51,100 Depreciation expense 23,000 Payment of cash dividends 45,000 Purchase of equipment with cash 73,000 Issuance of notes payable to borrow 62,000 cash Acquisition of land by issuing long-term notes 119,000 Gain on sale of building 4,000 payable Book value of building sold 60,000 Net income 71,500 Current Accounts Current Assets: 2025 2024 Cash Accounts Receivable Merchandise Inventory $ 99,700 $ 18,000 64,300 69,400 88,000 81,000 Current Liabilities: Accounts Payable 57,700 55,300 Income Tax Payable 15,000 17,200 Print Done ☑

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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Compared to the ROE in 2020, the ROE in 2021 has Improved / 6.65% Improved / 3.43% Worsened / -6.65% Worsened / -3.43% Stayed the same / 0% by
Total Net Fixed Assets Total Assets O 14.97 siven, O 16.05 O 9.63 Cash Accounts Receivable Inventory Click to open: O 12.59 Net Sales Less: Cost of Goods Sold Less: Depriciation Earnings before Interest and Taxes O 10.12 Less: Interest Paid Taxable income Less: Taxes Net Income Precision Tools 2012 Income Statement ($ in Millions) What is the times interest earned ratio for 2012? 2011 2060 3411 18776 24247 14160 38407 LE 36408 28225 1760 6423 510 5913 2070 3843 Precision Tools 2011 and 2012 Balance Sheets ($ in Millions) 2012 1003 Accounts Payable 4218 Long Term Debt 21908 Common Stock 27129 Retained Earnings 14080 41209 Total Liabilities and Equity 2011 7250 9800 15000 6357 38407 2012 8384 11500 17500 3825 41209 97
On January 1, 2022, the ledger of Vaughn Company contains these liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue Jan. 5 12 During January, these selected transactions occurred. 14 20 21 $57,000 25 8,400 16,500 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes. Performed services for customers who had made advance payments of $10,500. (Credit Service Revenue) Paid state revenue department for sales taxes collected in December 2021 ($8,400). Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. This new product is subject to a 1-year warranty. Borrowed $22,500 from Girard Bank on a 3-month, 8 %, $22.500 note. Sold merchandise for cash totaling $9,288, which includes 8% sales taxes.
What is Ratio Corporation's Fiscal 2021 Times Interest Earned Ratio? 1.41 2.57 4.5 1.63
Information shown to (1)Preare a statment of AW Use the Financial statement and addition) Information shown to Cash Flows For the Year ended Using the (1) Prefare a statment of June 30,200%, indirct.methed PASSAT INC. MCome Statement For Year Ended June 3,2002 $67800 (411000) 267000 selas Cost of Joods sold Gross profit oPelabing &XPense Depreciabion exPense other ex Pense Tobal operabing expense other Jattesains Closses) Gain on Sale of equipment 58600 67000 (125600) 200 Income before taes $143400 (43890) Income taXes Net income $99510
ADBRI Limited (ABC, formerly Adelaide Brighton Limited) is an integrated construction material and lime producing group of companies focused on the construction, engineering, infrastructure and resource sectors in Australia. ABC has three main operating divisions being: Cement, Lime, Concrete and Aggregates and Concrete Masonry Products. Acrow (ACF, formerly NMG Corporation Limited) operates in the Australian construction services industry, hiring formwork, falsework and scaffolding equipment and undertaking sales of formwork and scaffolding related consumables. The Formwork operation involves the supply of the temporary mould that supports concrete structures in their construction. The Scaffolding operation supplies scaffolding equipment and access solutions to builders and building contractors when working at heights. Below are extracts of ACF and ABC Limited's income statements and balance sheets for 2020. Item ACF ABC Limited Income Statement Income Statement Operating Revenue…
Item Prior year Current year Accounts payable 8,194.00 7,893.00 Accounts receivable 6,066.00 6,786.00 Accruals 977.00 1,572.00 Cash ??? ??? Common Stock 11,869.00 12,264.00 COGS 12,616.00 18,108.00 Current portion long-term debt 5,038.00 5,064.00 Depreciation expense 2,500 2,825.00 Interest expense 733 417 Inventories 4,145.00 4,778.00 Long-term debt 13,680.00 14,055.00 Net fixed assets 50,966.00 54,551.00 Notes payable 4,331.00 9,956.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,104.00 29,983.00 Sales 35,119 45,456.00 Taxes 2,084 2,775 What is the firm's net income in the current year? . .
Item Prior year Current year Accounts payable 8,101.00 7,904.00 Accounts receivable 6,019.00 6,552.00 Accruals 1,040.00 1,528.00 Cash ??? ??? Common Stock 11,291.00 12,618.00 COGS 12,748.00 18,034.00 Current portion long-term debt 5,099.00 4,934.00 Depreciation expense 2,500 2,811.00 Interest expense 733 417 Inventories 4,253.00 4,792.00 Long-term debt 14,116.00 13,147.00 Net fixed assets 50,495.00 54,147.00 Notes payable 4,377.00 9,813.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,298.00 29,819.00 Sales 35,119 46,964.00 Taxes 2,084 2,775 What is the firm's total change in cash from the prior year to the current year?
Sh19
Item Prior year Current year Accounts payable 8,109.00 7,758.00 Accounts receivable 6,059.00 6,782.00 Accruals 1,036.00 1,609.00 Cash ??? ??? Common Stock 11,891.00 11,189.00 COGS 12,683.00 18,018.00 Current portion long-term debt 4,980.00 4,993.00 Depreciation expense 2,500 2,813.00 Interest expense 733 417 Inventories 4,192.00 4,777.00 Long-term debt 13,329.00 13,523.00 Net fixed assets 50,636.00 54,376.00 Notes payable 4,329.00 9,999.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,278.00 29,801.00 Sales 35,119 47,221.00 Taxes 2,084 2,775 What is the firm's cash flow from investing?
Item Prior year Current year Accounts payable 8,112.00 7,889.00 Accounts receivable 6,029.00 6,526.00 Accruals 981.00 1,445.00 Cash ??? ??? Common Stock 10,050.00 11,831.00 COGS 12,659.00 18,136.00 Current portion long-term 5,054.00 5,053.00 debt Depreciation expense 2,500 2,814.00 Interest expense 733 417 Inventories 4,101.00 4,816.00 Long-term debt 14,355.00 13,032.00 Net fixed assets 51,776.00 54,131.00 Notes payable 4,395.00 9,850.00 Operating expenses (excl. 13,977 depr.) 18,172 Retained earnings 28,273.00 29,816.00 Sales 47,524 Taxes 2,084 2,775 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.