Current assets Cash Trading investments Accounts receivable, net Inventory Prepaid expenses Total current assets Total current liabilities Additional information: (in thousands) Credit sales Cost of goods sold $ 30 $ Allowance for doubtful accounts OFE 55 671 624 41 $ 1,421 $ 882 $ LA 2021 SA $ LA 2.909 50 4,175 91 $1.311 60 582 526 52 $ 826 2020 45 3.901 2,645 $ 60 40 498 581 29 $ 1,208 $ 756 5. 2019 40 3.733 2.364

Current assets Cash Trading investments Accounts receivable, net Inventory Prepaid expenses Total current assets Total current liabilities Additional information: (in thousands) Credit sales Cost of goods sold $ 30 $ Allowance for doubtful accounts OFE 55 671 624 41 $ 1,421 $ 882 $ LA 2021 SA $ LA 2.909 50 4,175 91 $1.311 60 582 526 52 $ 826 2020 45 3.901 2,645 $ 60 40 498 581 29 $ 1,208 $ 756 5. 2019 40 3.733 2.364

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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Use the following table: Case X Case Y Case Z Cash $ 940 $ 1,470 $ 1,940 Short-term investments 0 0 780 Receivables 0 1,690 1,360 Inventory 3,400 1,560 6,520 Prepaid expenses 2,600 1,020 1,460 Total current assets $ 6,940 $ 5,740 $ 12,060 Current liabilities $ 3,600 $ 1,800 $ 5,750 Required:Calculate the quick ratio in each of the above cases and select the case which is in the best position to meet short-term obligations most easily. (Round your answers to 2 decimal places.)
Partial Income Statement Excel Exercise Compute the Following ՀԱՐ Sales COGS SG&A Depreciation Debt Int. Rate Tax Rate* 2019 100 40 EBITDA EBIT 25 Interest 10 EBT 0.08 Tax 0.25 Net Income ? ? ? ? ? ? Partial Balance Sheet Debt and Loans 150 Total Equity 150 Total Assets 300 Inv. Change 10 A/R Change A/P Change 35 20 Net Profit Margin Equity Multiplier Verify Dupont ROE ? סיי ? ? ? ? ? * Assume all taxes paid in current period (no accrued taxes) for rest of course CF from Operations ROE Asset Turnover CED Tt O 24
What is the net cash provided by operating activities?
1. December cash disbursements for merchandise purchases would be? 2. the excess (deficiency) of cash available over disbursements for December would be?
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Classifying inflows and outflows of cash Classify each of the following items as an inflow (1) or an outflow (O) of cash, or neither (N). Item Change ($) + 1,680 Cash Balance Accounts payable +930 + 1,130 Notes payable Long-term debt Inventory Fixed assets (Select from the drop-down menu.) Item Cash Balance Change ($) - 310 - 1,200 + 1,570 + 1,000 + 130 + 500 Change ($) - 310 Item Accounts receivable Net profits Depreciation Repurchase of stock Cash dividends Sale of stock Classification (1/0) +940 + 900 + 900
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Current Attempt in Progress The current assets and current liabilities sections of the balance sheet of TealCompany appear as follows. TEAL COMPANYBALANCE SHEET (PARTIAL)DECEMBER 31, 2020 Cash $ 41,700 Accounts payable $ 65,040 Accounts receivable $96,400 Notes payable 70,200 Less: Allowance for doubtful accounts 7,080 89,320 $135,240 Inventory 177,510 Prepaid expenses 8,980 $317,510 The following errors in the corporation’s accounting have been discovered: 1. January 2021 cash disbursements entered as of December 2020 included payments of accounts payable in the amount of $43,500, on which a cash discount of 2% was taken. 2. The inventory included $31,970 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $10,290 had been received on consignment; the remainder was purchased f.o.b.…
BALANCE SHEET INCOME STATEMENT ($ in millions) ($ in millions) ASSETS Cash & Marketable Securities LIABILITIES Revenue Cost Of Goods Sold 28,681. 10 Accounts Payable Salaries Payable 449.90 1,611.20 20,768.80 Accounts Receivable 954.80 225.20 Gross Profit 7.912.30 Inventories 3,645.20 Other Current Liabilities 1,118.80 Operating Expenses: Selling, General & Admin. Depreciation Operating income Other Current Assets Total Current Assets 116.60 5,166.50 Total Current Liabilities 2,955.20 5,980.80 Other Liabilities 693.40 307.30 1,688.90 1,129.70 2,348.40 (575.60) Machinery & Equipment Land 1,624.20 Total Liabilities 3,648.60 Buildings Depreciation Property, Plant & Equip. - Net Other Long Term Assets Total Long-Term Assets Interest SHAREHOLDER'S EQUITY Other Expense (Income) (13.10) 4,591.40 120.90 828.50 5.401.70 1,637.30 618.10 1,019.20 Common Stock Income Before Taxes Retained Earnings Total Shareholder's Equity Income Taxes 4,712.30 6,230.20 Net Income Total Assets 9,878.80 Total…
Cash and accounts receivable for Adams Company are as follows: Current Year Prior Year Cash $64,800 $54,000 Accounts receivable (net) 58,982 76,600 What are the amounts and percentages of increase or decrease that would be shown with horizontal analysis? Account Dollar Change Percent Change Cash $fill in the blank 1 fill in the blank 2 % Accounts Receivable $fill in the blank 4 fill in the blank 5 %
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