$ 42,000 $ 33,000 Cash and cash equivalents. Accounts recelvable.... 84,000 77,000 Inventory. 95,700 131,000 Property, plant, and equipment.. Accumulated depreciation-property, plant, and equipment . Total assets.. Short-term notes payable. Accounts payable..... Long-term notes payable. Bonds payable.. Common stock, $1 par.. Additional paid-in capital.. Retained earnings.... Total liabilities and stockholders' equity. 560,000 500,000 (210,000) 5 531,000 $ 30,000 (231,500) S 550.200 81,000 69,000 110,000 90,000 60,000 120,000 35,000 35,000 165,000 165,000 99,200 22,000 S 550.200 $ 531,000

$ 42,000 $ 33,000 Cash and cash equivalents. Accounts recelvable.... 84,000 77,000 Inventory. 95,700 131,000 Property, plant, and equipment.. Accumulated depreciation-property, plant, and equipment . Total assets.. Short-term notes payable. Accounts payable..... Long-term notes payable. Bonds payable.. Common stock, $1 par.. Additional paid-in capital.. Retained earnings.... Total liabilities and stockholders' equity. 560,000 500,000 (210,000) 5 531,000 $ 30,000 (231,500) S 550.200 81,000 69,000 110,000 90,000 60,000 120,000 35,000 35,000 165,000 165,000 99,200 22,000 S 550.200 $ 531,000

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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Current Year Previous Year Current assets: Cash $655,500 $520,000 Marketable securities 759,000 585,000 Accounts and notes receivable (net) 310,500 195,000 Inventories 643,500 475,800 Prepaid expenses 331,500 304,200 Total current assets $2,700,000 $2,080,000 Current liabilities: Accounts and notes payable (short-term) $435,000 $455,000 Accrued liabilities 315,000 195,000 Total current liabilities $750,000 $650,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to place.
Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 450,600 298,350 152,250 99,300 4,500 Cost of goods sold Gross profit Operating expenses Interest expense. Income before taxes Income tax expense Net income $ 10,000 Accounts payable Accrued wages payable 9,200 31,400 Income taxes payable 30,150 Long-term note payable, secured by mortgage on plant assets 3,050 Common stock 152,300 Retained earnings $ 236,100 Total liabilities and equity CABOT CORPORATION Balance Sheet December 31 of current year Liabilities and Equity 48,450 19,518 $ 28,932 $ 17,500 3,800 4,700 69,400 88,000 52,700 $ 236,100 Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total…
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19. Ebasan Company have the following account balances: Cash (net of overdraft of P100,000) Accounts receivable Accounts payable Notes payable Loans payable Income tax payable Warranty obligations Deferred revenue Cumulative, redeemable preference shares at the option of the holder Non-cumulative, non-redeemable preference shares What is the total amount considered as financial liabilities? A. 4,620,000 B. 3,620,000 C. 4,600,000 D. 4,500,000 P300,0000 450,000 1,200,000 500,000 1,800,000 120,000 180,000 240,000 1,000,000 2,000,000
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