Current assets Classified Balance Sheet As of December 31, 2016 Total current assets Property, plant and equipment Total property, plant and equipment Total assets Liabilities and stockholders' equity Current liabilities Long-term liabilities Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity

Current assets Classified Balance Sheet As of December 31, 2016 Total current assets Property, plant and equipment Total property, plant and equipment Total assets Liabilities and stockholders' equity Current liabilities Long-term liabilities Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity

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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5.17. A company's statement of financial position at the end of 2018 included the following items. 2018 Land Buildings Accum. Depr.-buildings Equipment Accum. Depr.- equipment Patents Long-term investment Current assets Total assets Bond payable Current liabilties Share capital -ordinary Treasury shares Retained earnings Total Liabilities and Equity The following information is available for 2019. 1. Net income was $55,000 30,000 120,000 (30,000) 90,000 (11,000) 40,000 Instructions: 235,000 474,000 a. Prepare a statement of cash flows for 2019. b. Prepare a statement of financial postiion at the end of 2019. 100,000 150,000 180,000 2. Equipment (cost $20,000 and accumulated depreciation 8,000) was sold for 9,000. 3. Depreciation expense was $4,000 on the building and $9,000 on equipment 44,000 474,000 4. Patent amortization was $2,500. 5. Current assets other than cash increased by $25,000. Current liabilities increased by $13,000. 6. An addition to the building was completed at a cost…
Use the following accounts with normal balances to prepare Bosco Company's classified balance sheet as of December 31. Merchandise inventory Accounts receivable Cash and equivalents Notes payable (due in 8 years) Accumulated depreciation-Buildings Land Buildings Accounts payable Wages payable Common stock Retained earnings (Use cells A4 to B14 from the given information to complete this question.) $3,000 5,000 7,000 15,000 22,000 24,000 40,000 10,000 2,000 1,000 29,000
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
equity or debt securities held to finance future construction of additional plants should be classified on balance sheet as A- current assets B- property, plant and equipment C- intangible assets D- long term investments
Vertical Analysis of Balance Sheet Balance sheet data for a company for the years ended December 31, 20Y2 and 20Y1, are shown below. 20Y2 20Υ1 Current assets $ 752,000 $ 602,000 Property, plant, and equipment 6,248,000 5,397,000 Intangible assets 1,000,000 1,001,000 Current liabilities 504,000 427,000 Long-term liabilities 1,504,000 1,197,000 Common stock 1,248,000 1,253,000 Retained earnings 4,744,000 4,123,000 | Prepare a comparative balance sheet for 20Y2 and 20Y1, 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. Round your answers to one decimal place. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 Amount 20Y2 Percent 20Y1 Amount 20Y1 Percent Assets Current assets $752,000 % $602,000 % Property, plant, and equipment 6,248,000 5,397,000 Intangible assets 1,000,000 1,001,000
Dec. 31, 2020 Dec. 31, 2019 Assets Current assets: Cash and cash equivalents $248,005 $419,465 Accounts receivable 38,283 34,839 Inventory 15.043 15,332 Prepaid expenses and other current assets 39,965 34,795 Income tax receivable 58,152 16,488 Investments 415,199 338,592 Total current assets 814.647 859,511 Property, plant, & equipment, net 1,217.220 1,106,984 Long-term investments 622,939 496.106 Other assets 70,260 64,716 Total assets $2,725,066 $2,527,317 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $85,709 $69,613 Accrued payroll and benefits 64,958 73,894 Accrued liabilities 129,275 102,203 Total current liabilities 279,942 245,710 Deferred liabilities 284.267 240,975 Other liabilities 32.883 28,263 Total liabilities 597,092 514,948 Shareholders' equity: Common stock 358 354 Additional paid-in capital 954,988 861.843 Retained earnings 1,172.628 1,150,172 Total shareholders' equity 2,127,974 2,012.369 Total liabilities and shareholders' equity…
Text Predictions: On ABC Inc. Balance Sheet as at December 31, 2015 and 2016 ($ thousands) Current Assets Cash Accounts Receivable Inventory Total Current Assets Fixed Assets Property, Plant & Equipment Less Accumulated Depreciation Property, Plant & Equipment, net Total Assets Liabilities and S/H Equity Current Liabilities Accounts Payable Notes Payable and short-term debt Total Current Liabilities Long-Term Debt Shareholders' Equity Common Shares Paid-In Capital Retained Earnings Total Total Liabilities and S/H Equity ABC Inc. Income Statement for 2015 and 2016 ($ thousands) Revenue Cost of Goods Sold Operating Expenses Depreciation Earnings Before Interest & Taxes (EBIT) Interest Paid Income Before Taxes (EBT) Taxes Paid Net Income (NI) Dividend Accessibility: Investigate 2015 $ 200 450 550 $1,200 2.200 (1.000) 1,200 $2,400 $ 200 0 $ 200 $ 600 300 600 700 $1,600 $2,400 2015 $1,200 700 30 220 S 250 50 $ 200 180 $ 120 $ S 2016 $ 150 425 625 $1,200 2016 $1,450 850 40 200 $360 160 $ 300…
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year: Ending Balances: Cash-? Accounts receivable - $ 9,400 Supplies inventory - $ 3, 200 Equipment - $ 40, 500 Accumulated depreciation - $16, 400 Accounts payable - $ 3,100 Common stock - $5,000 Retained earnings-? The beginning balance of retained earnings was $30,000, net income is budgeted to be $20, 200, and dividends are budgeted to be $ 3,300.
Please fill out vertical analysis of this balance sheet to determine component percentage of assets liabilities and stockholders equity based on data. Round percentages to the nearest hundredths percent
Kk. 251.
opines Text Predictions: On ABC Inc. Balance Sheet as at December 31, 2015 and 2016 ($ thousands) Current Assets Cash Accounts Receivable Inventory Total Current Assets Fixed Assets Property, Plant & Equipment Less Accumulated Depreciation Property, Plant & Equipment, net Total Assets Liabilities and S/H Equity Current Liabilities Accounts Payable Notes Payable and short-term debt Total Current Liabilities Long-Term Debt Shareholders Equity Common Shares Paid-In Capital Retained Earnings Total Total Liabilities and S/H Equity ABC Inc. Income Statement for 2015 and 2016 ($ thousands) Revenue Cost of Goods Sold Operating Expenses Depreciation Earnings Before Interest & Taxes (EBIT) Interest Paid Income Before Taxes (EBT) Taxes Paid Net Income (N) Dividend Accessibility: Investigate $ 200 450 550 $1,200 2.200 (1,000) 1,200 2015 $2,400 $ 200 0 $ 200 $ 2015 300 600 700 $1,600 $2,400 $1,200 700 30 220 $ 250 50 $ 200 1180 $ 120 600 mm 2016 $1,450 850 40 200 $ 360 60 $ 300 120 180 80 $ 2016 $…
The following is the ending balances of accounts at December 31, 2024, for the Weismuller Publishing Company. Account Title Credits Cash Debits $ 105,000. 200,000 305,000 188,000 360,000 180,000 Accounts receivable Inventory Prepaid expenses Equipment Accumulated depreciation Investments Accounts payable Interest payable Deferred revenue Income taxes payable Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals $ 1,338,000 $ 130,000 80,000 40,000 100,000 50,000 300,000 36,000 420,000 182,000 $ 1,338,000 Additional information: 1. Prepaid expenses include $160,000 paid on December 31, 2024, for two year of rent on the building that houses both the administrative offices and the manufacturing facility. 2. Investments include $50,000 in Treasury bills purchased on November 30, 2024. The bills mature on January 30, 2025. The remaining $130,000 is an investment in equity securities that the company intends to sell in the next year. 3. Deferred revenue…