Current assets Cash Trading investments Accounts receivable, net Inventory Prepaid expenses Total current assets Total current liabilities Additional information: Credit sales (in thousands) 2021 Cost of goods sold (in thousands) Allowance for doubtful accounts $30 $ 91 $ 60 55 671 624 41 $ 1,421 $ 882 2021 2020 4.175 2,909 60 582 526 52 $ 1,311 $ 826 2020 2019 3,901 2,645 40 498 581 $ 50 $ 45 $ 40 29 $ 1,208 $ 756 2019 3,733 2,364

Current assets Cash Trading investments Accounts receivable, net Inventory Prepaid expenses Total current assets Total current liabilities Additional information: Credit sales (in thousands) 2021 Cost of goods sold (in thousands) Allowance for doubtful accounts $30 $ 91 $ 60 55 671 624 41 $ 1,421 $ 882 2021 2020 4.175 2,909 60 582 526 52 $ 1,311 $ 826 2020 2019 3,901 2,645 40 498 581 $ 50 $ 45 $ 40 29 $ 1,208 $ 756 2019 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.)
What is the financial performance summary for this balance sheet? BALANCE SHEET INCOME STATEMENT ($ in millions) ($ in millions) ASSETS LIABILITIES Revenue 28,681.10 Cash & Marketable Securities 449.90 Accounts Payable 1,611.20 Cost Of Goods Sold 20,768.80 Accounts Receivable 954.80 Salaries Payable 225.20 Gross Profit 7,912.30 Inventories 3,645.20 Other Current Liabilities 1,118.80 Other Current Assets 116.60 Total Current Liabilities 2,955.20 Operating Expenses: Total Current Assets 5,166.50 Selling, General & Admin. 5,980.80 Other Liabilities 693.40 Depreciation 307.30 Machinery & Equipment 1,688.90 Operating income 1,624.20 Land 1,129.70 Total Liabilities 3,648.60 Buildings 2,348.40 Interest - Depreciation (575.60) SHAREHOLDER'S EQUITY Other Expense (Income) (13.10) Property, Plant & Equip. - Net…
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1. December cash disbursements for merchandise purchases would be? 2. the excess (deficiency) of cash available over disbursements for December would be?
Computing and analyzing trend percents LO P1 2021 2020 2019 2018 2017 Sales $ 446,122 $ 293,501 $ 242,563 $ 173,880 $ 128,800 Cost of goods sold 221,100 145,365 122,206 87,101 63,112 Accounts receivable 21,592 17,140 16,664 10,137 8,784 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable.
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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.…
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Sales Depreciation COGS Interest Cash Accts Receivables Notes Payable L ong-term debt Net fixed assets Accounts Payable Inventory Dividend payout Tax rate 2020 21. What is the ROE for 2021? $5,300 $5,900 750 850 2400 180 200 200 800 1500 3000 250 700 2021 2900 196 500 22. What is the Inventory period in 2021? 400 550 1950 3500 400 900 30% 35% 30% 20. What is the cash flow from operating activities?
Prepare a blance sheet
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