[The following information applies to the questionsdisplayed below.]202120202019Selected comparative financial statements of KorbinCompany follow.KORBIN COMPANYComparativeIncome StatementsFor Years Ended December 31SalesCost of goods soldGross profitSelling expensesAdministrative expensesTotal expensesIncome before taxesIncome tax expenseNet incomeAssetsCurrent assetsLong-term investments.Plant assets, netTotal assetsNumerator:202120202019$548,688 $ 420,340 $ 291,700330,310263,974186,688156,366KORBIN COMPANYComparative Balance SheetsLiabilities and EquityCurrent liabilitiesCommon stockOther paid-in capitalRetained earningsTotal liabilities and equity218,37877,91449,382127,29691,08216,94111/1158,00736,99094,99761,36912,581$ 74,141 $ 48,788December 312021$ 62,5740Current Ratio114,438$ 177,012$ 25,84465,0008,12578,043Required:1. Complete the below table to calculate each year's currentratio.Denominator:$ 41,881$ 55,9853,9201,200103,962$147,043 $ 121,82561,920$ 21,909 $ 21,31965,00047,0008,1255/22252,00948,284$177,012 $147,043 $ 121,8252020=105,01238,50424,21162,71542,2978,586$ 33,711=2019= Current ratioCurrent ratio0 to 10 to 10 to 1==

Given that, Current assets for the year ending december 31, 2021 = $62,574 2020 = $41,881 2019 =…

Answered: Current assets Long-term investments…

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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UNIMAS HOLDING BERHAD BALANCE SHEET 31-Dec-20 (RM000) ASSETS Current Assets Cash and cash equivalents 100,000 Accounts receivable 20,000 Inventory 15,000 Prepaid expense 4,000 Investment 10,000 Total current assets 149,000 Property and Equipment Land 24,300 Building and improvement 250,000 Equipment 50,000 Less: Accumulated depreciation - 5,000 Tot. Property and Equipment 319,300 Other Assets Intangible assets 4,000 Less: accumulated depreciation - 200 Total other assets 3,800 Total Assets 472,100 Liabilities and Shareholders' Equity Current Liabilities Accounts payable 30,000 Notes payable 10,000 Accrued expenses 5,000 Deferreed…
BALANCE SHEET Liabilities Amt Assets Amt Accounts payable 5,000 Machine and equipment 15,000 Long term debt 8,700 Cash on hand 1,500 Current portion of long term debts 1,700 Merchandise inventory 12,400 Accrued interest payable 1,400 Buildings and improvements 20,000 Mortgage payable 14,500 Accounts receivables 6,200 Capital 74,500 Land 50,000 Prepaid expenses 700 105,800 105,800 Compute for and interpret the following:a. Current ratiob. Working capitalc. Acid-test ratiod. Net capital ratioe. Networth ratiof. Debt/Asset ratiog. Debt/Equity ratio3. What can you say about the short-run and long-run financial conditions of Farm A?4. What do you think is the main limitation of the given information? Can you effectively analyze both the short-run and long-run positions of Farm A? Why or why not?
Help | System Announcements Balance Sheet As of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $28,987 Accounts payable and accruals $154,807 Accounts receivable $142,845 Short-term notes payable $21,639 Inventory $212,722 Total current liabilities $176,446 Total current assets $384,554 Long term debt $155,510 Net plant and equipment $602,309 Total liabilities $331,956 Goodwill and cther assets $42,422 Common stock $314,932 Retained earnings $382,397 Total assets $1,029,285 Total liabilities and equity $1,029,285 In addition, it was reported that the firm had a net income of: $158,531 and net sales of: $4,338,283 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.): Current Ratio times Quick Ratio times Average Collection Period days Total Asset Turnever times Fixed Asset Turnover times Question
Examine the balance sheet of commercial banks in the following table. $ Billion % Total 201.2 28.9 230.1 Assets Real assets Equipment and premises Other real estate Total real assets Financial assets Cash Investment securities Loans and leases Other financial assets Total financial assets Other assets Intangible assets Other Total other assets Total $ Ratio of real assets to total assets $ $ 876.3 2,032.1 6,627.3 1,201.2 $10,736.9 $ 416.4 780.7 $ 1,197.1 $12,164.1 1.7% 0.2 1.9% 7.2% 16.7 54.5 9.9 88.3% 3.4% 6.4 9.8% 100.0% Liabilities Deposits Liabilities and Net Worth Debt and other borrowed funds Federal funds and repurchase agreements Other Total liabilities Net worth Balance sheet of FDIC-insured commercial banks and savings institutions Note: Column sums may differ from total because of rounding error. Source: Federal Deposit Insurance Corporation, www.fdic.gov, October 2018. a. What is the ratio of real assets to total assets? (Round your answer to 4 decimal places.) $ Billion %…
Balance sheet ($ in millions) ASSETS Cash & Marketable Securities 449.90 Accounts Receivable 954.80 Inventories 3,645.20 Other Current Assets 116.60 Total Current Assets 5,166.50 Machinery & Equipment 1,688.90 Land 1,129.70 Buildings 2,348.40 Depreciation (575.60) Property, Plant & Equip. - Net 4,591.40 Other Long Term Assets 120.90 Total Long-Term Assets 4,712.30 Total Assets 9,878.80 part of Balance Sheet LIABILITIES Accounts Payable 1,611.20 Salaries Payable 225.20 Other Current Liabilities 1,118.80 Total Current Liabilities 2,955.20 Other Liabilities 693.40 Total Liabilities 3,648.60 SHAREHOLDER'S EQUITY Common Stock 828.50 Retained Earnings 5,401.70 Total Shareholder's Equity 6,230.20 Total Liabilities…
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.)
Problem #1 The following balance sheet and income statement data is given: 31-Dec Yr 2021 Yr 2020 Cash $4,300 $3,700 Accounts receivable (net) 22,000 23,400 Inventories 10,000 7,000 Plant assets (net) 75,000 86,000 Total assets 111,300 120,100 Accounts payable 12,370 11,100 Bonds payable 70,000 70,000 Total liabilities 82,370 81,100 Common stock, $10 par 65,000 59,000 Paid-in capital 10,000 10,000 Retained earnings 24,300 20,600 Total stockholders’ equity 99,300 89,600 Net credit sales 100,000 Cost of goods sold 60,350 Gross profit 39,650 Net income 14,000 REQUIRED: Compute the following ratios for 2021. NOTE: Copy and paste the information below into the answer box first and then show your calculation steps for this problem to receive credits. (1) Accounts receivable turnover=____________________ (2) Inventory turnover=__________________ (3) Accounts payable…
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 $300,300 $186,760 Property, plant, and equipment 446,160 392,840 Intangible assets 111,540 64,400 Current liabilities 163,020 90,160 Long-term liabilities 368,940 270,480 Common stock 68,640 77,280 Retained earnings 257,400 206,080 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.
14 BALANCE SHEET 15 ASSETS 16 Cash and marketable securities 17 Accounts receivable O 0.27 O 1.37 A 3.68 18 Inventory 19 Current assets 20 Land, buildings, plant, and equipment 21 Accumulated depreciation 22 Net fixed assets 23 Total assets 24 LIABILITIES AND EQUITIES 25 Short-term bank loans 26 Accounts payable 27 Accruals 28 Current liabilities 29 Long-term debt 30 Common stock 31 Retained earnings 32 Total equity 33 Total liabilities and equity 34 Current Ratio Based on the balance sheet shown above, what is the current ratio at C34 cell for the current ratio in 2015? Onone of the answers is correct. 3.16 B 2016 C 2015 $37,974 $154,550 10,000 6,000 250,000 135,000 $297,974 $295,550 $250,000 $125,000 50,000 25,000 $200,000 $100,000 $497,974 $395,550 $70,000 $72,500 9,999 5,253 3,666 2,550 $83,665 $80,303 $233,500 $135,500 $160,000 $160,000 20,810 19,747 $180,810 $179,747 $497,974 $395,550 ?
From the following information calculate the net asset values. (Round your answers to the nearest cent.) Current market value Current liabilities Number of NAV of fund investment shares outstanding $ 5,790,000 $ 890,000 400,000 a. b. 14,280.000 $ 900,000 960.000
You have been provided with the following information for Bee Ltd, a closely-held private company: Bee Ltd Income Statement for the year ending 31/03/2021 $ Sales 1,400,000 Less: Cost of sales 550,000 Gross profit 850,000 Interest on Government Bonds 2,100 Less: 380,000 Depreciation Interest expense 35,600 10,000 Bad Debts 5,000 Loss on sale – equipment 4,000 Insurance 12,200 Other expenses 312,800 472,100 185,295 286,805 70,000 Net Profit before tax Taxation Net Profit after tax Revaluation of Land Comprehensive Net Profit 356,805 Note during the 2021 year: $ Equipment with accumulated depreciation of 11,000 was sold for cash 20,000 Land was revalued upward by The company re-purchased shares at 70,000 100,000 Marketable securities were sold for cash.
Question Content Area Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $31,654 Accounts receivable 69,987 Accrued liabilities 6,524 Cash 16,364 Intangible assets 38,210 Inventory 80,832 Long-term investments 90,451 Long-term liabilities 73,398 Notes payable (short-term) 26,425 Property, plant, and equipment 659,739 Prepaid expenses 1,697 Temporary investments 38,252 Based on the data for Harding Company, what is the amount of quick assets?

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Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities $ 62,574 0 114,438 $177,012 $ 41,881 $ 55,985 1,200 3,920 103,962 61,920 $147,043 $ 121,825 $ 25,844 $ 21,909 $ 21 319