Elston Company compiled the following financial information as of December 31, 2010: Sales $140,000 Common stock 30,000 Equipment 40,000 Expenses 125,000 Cash 35,000 Dividends 10,000 Inventory 5,000 Accounts payable 20,000 Accounts receivable 15,000 Retained earnings, 1/1/10 75,000 Elston's total assets on December 31, 2010 is: a. $235,000 b. $170,000 c. $80,000 d. $95,000
Q: Need Answer to Question
A: 1. Understanding Stockholders' EquityStockholders' equity represents the residual interest in the…
Q: Provide this question solution general accounting
A: Step 1: First, calculate the contribution margin per unit, then calculate the variable expenses per…
Q: Help me tutor
A: The Contractual Service Margin (CSM) is a key concept in insurance accounting, particularly under…
Q: General Accounting
A: Step 1: Define Weighted Average MethodThe weighted average method is one of the two methods used…
Q: 59 Question: Financial accounting Equipment with an original cost of $50,000 and accumulated…
A: Explanation of Book Value: Book value represents the current worth of an asset on a company's…
Q: General Accounting
A: Step 1: Define Material Price VarianceMaterial price variance calculates the difference between the…
Q: Please help, give me a detailed answer to this.
A: Let's solve this step by step to determine the amount of interest to be capitalized in 2025.1.…
Q: ??
A: Explanation of Age of Inventory:The age of inventory represents the average number of days a company…
Q: Please help, give me a detailed answer to this.
A: Entry to record the current depreciation: Debit depreciation expense account with $54,400 to…
Q: Answer
A: Break-even analysis determines the point at which a business's total revenues are equal to its total…
Q: Financial Accounting
A: Step 1: Define Variable ExpenseThe variable expense can also be defined as the total cost incurred…
Q: Business 123 Introduction to Investments May I please have the solution for the following questions?…
A: Question 1: Current Yield and Yield to Maturity (YTM)Known Values:Coupon Rate = 9% of par value =…
Q: Give true answer this accounting question not use ai
A: Step 1: Define Amortization ExpenseAn amortization expense is the cost of writing off intangible…
Q: Need answer the accounting question please solve
A: Step 1: Define Financial RatiosIn accounting, there are various financial ratios used to analyze and…
Q: General accounting. Cordinal company purchased land in 2014
A: Step 1:- Define Capitalizing Fixed AssetsLand acquired by a firm should be recorded in the books of…
Q: Financial accounting
A: Explanation of Total Manufacturing Costs:Total manufacturing costs refer to the sum of all direct…
Q: Please provide general accounting question answer
A: Step 1: Define Debt to Equity RatioThe debt to equity ratio calculates the proportion of equity and…
Q: Provide steps
A: Explanation of Goodwill: Goodwill is an intangible asset that represents the excess of the purchase…
Q: What is its equity multiplier on these accounting question?
A: Step 1: Define Asset Turnover Ratio and Equity MultiplierAsset turnover ratio is defined as the…
Q: Morrow Computer Company acquired a circuit board stamping machine for $760,000 on December 31, 2019.…
A: Step 1: Determine the annual depreciationSince the machine should have been depreciated over a…
Q: The year end accounts for a local government authority have been prepared, and they will soon be…
A: Explanation1. Ethical Dilemmas ExplainedFinancial Misrepresentation: This is about honesty in…
Q: Can you please solve this accounting problem?
A: Step 1: Define Accrual AccountingAccrual and cash accounting are two different approaches to…
Q: Give true answer this accounting question
A: Step 1: Define Efficiency VarianceEfficiency variance refers to the disparity between expected and…
Q: Please give me answer general accounting
A: Step 1: Define Sales ReturnSales return refers to the value of goods that has been returned from the…
Q: Paxton Designs, Incorporated incorrectly recorded a $440,000 note issued by Beeler Bank, NA in 2020…
A: In this scenario, Paxton Designs, Incorporated, incorrectly recorded a $440,000 note payable in…
Q: What is the equipment's after -tax salvage value for these accounting question?
A: Step 1: Define Salvage ValueSalvage value, also referred to as residual value or scrap value, is the…
Q: Please solve this question general accounting
A: The problem requires the determination of the YTM and the bond value. Yield to maturity (YTM) is…
Q: None
A:
Q: Need help with this financial accounting question
A: Step 1: Define Market Risk PremiumThe additional return that an investor anticipates getting from…
Q: in following question solution
A: Step 1: Define Beginning Inventory:There is an accounting period during which every recording…
Q: What are the net sales on these accounting question?
A: Step 1: Define SaleSale is selling the goods to the customers, There are two types of sale. One is a…
Q: Principles of Accounting
A: Detailed explanation:1. Potential Impact of the Change on Financial StatementsA change in accounting…
Q: 22.)
A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…
Q: Please provide answer the accounting question
A: a) Computation of the company's total asset turnover: Formula: Return on Assets (ROA) = Profit…
Q: The overlay approach in insurance accounting a) Applies to designated financial assets b) Is…
A: Explanation of Overlay Approach: The overlay approach is a specific accounting method that allows…
Q: Total Assets = ?
A: Step 1: Find the net income. (Rearrange the profit margin formula to find it)Profit margin formula:…
Q: Problem 3.6[4 Points] Financial Accounting The Contractual Service Margin in insurance contracts is:…
A: Explanation of Contractual Service Margin:The Contractual Service Margin is a key component of…
Q: Emily Consultants Company has a fiscal year ending December 31. For each of the following…
A: For accrued wages, unrecorded and unpaid at year-end, we debit Wage Expense and credit Wages…
Q: Activity 4. Research Questions Conduct your own research to answer the following questions. 4.1…
A: Explained Above.
Q: Solve financial accounting question not use ai
A: Step 1: Define Savings AccountA savings account is an investment option the bank provides that gives…
Q: Which of the following is TRUE regarding the costs of toxic waste disposal, reclamation, and…
A: The question is asking about the correct accounting treatment for the costs associated with toxic…
Q: Need all answer
A: Other potential impacts of rising inventory levels on the company's financial statements:1. Balance…
Q: Please provide answer the accounting question only experts answer excepted
A: Step 1:Cost allocation is a method of allocation of overhead cost to respective departments,…
Q: Solve general Accounting question
A: Here's a breakdown of the calculations:Given:Growth rate (g) = 8% = 0.08Debt-equity ratio =…
Q: CORIS RA is a government owned enterprise which is legislated to generate its own incomewhich it…
A: Payments Amount($)Salaries (Central Government Salaries and Salary 1 & 2) (13,720,700)…
Q: On September 4, Wildhorse Knickknacks buys merchandise on account from Pina Supply Company. The…
A: Perpetual inventory - when there is movement in the stocks, the inventory account is updated…
Q: Please help, give me a detailed answer to this. There is one more column on the far right that says…
A: Step 1:Long term assets, also known as fixed assets which doesn't not have immediate liquidity…
Q: Correct Option?
A: Under IFRS 9, how changes in a financial liability's credit risk are handled depends on whether it's…
Q: Financial Accounting
A:
Q: Provide this question solution financial Accounting
A: Step 1: Define Accounts Receivable Turnover RatioThe accounts receivable turnover ratio indicates…
Hello tutor answer the accounting question not use
Step by step
Solved in 2 steps
- Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was 82.60 on December 31, 20Y2. Instructions Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days sales in receivables 6. Inventory turnover 7. Number of days sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders equity 14. Return on common stockholders equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yieldMeasures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was 82.60 on December 31, 20Y2. Instructions Determine the following measures for 20Y2, rounding to one decimal place, including percentages, except for per-share amounts: 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days sales in receivables 6. Inventory turnover 7. Number of days sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders equity 14. Return on common stockholders equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yieldTwenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Return on total assets
- Ledger Properties has the following financial information: Current Year Prior Year Revenues $ 48,915 $ 43,610 Administrative expenses 12,106 11,602 Interest expense 816 468 Cost of goods sold 29,715 26,309 Depreciation 1,408 1,387 Net fixed assets 32,711 31,984 Current liabilities 14,652 14,625 Common stock 15,000 14,000 Current assets 16,506 14,687 Long-term debt 12,200 ? Retained earnings 7,365 4,246 Dividends paid 290 275 What is the cash flow of the firm for the current year if the tax rate is 22 percent? Group of answer choicesSelected comparative statement data for Oriole Company are presented below. All balance sheet data are as of December 31. 20222021Net sales$1,165,000 $1,125,000Cost of goods sold705,000 645,000Interest expense20,000 15,000Net income154,945 145,000Accounts receivable145,000 125,000Inventory105,000 100,000Total assets785,000 700,000Preferred stock (6%)205,000 200,000Total stockholders’ equity635,000 525,000 Compute the following ratios for 2022. (Round answers to 1 decimal place, e.g. 1.8 or 2.5%) (a)Profit marginenter the profit margin in percentages %(b)Asset turnoverenter the asset turnover in times times(c)Return on assetsenter the return on assets in percentages %(d)Return on common stockholders’ equityenter the return on common stockholders' equity in percentages %Rodgers Company compiled the following financial information as of December 31, 20XX:Sales revenue $1,120,000Common stock 240,000Buildings 320,000Operating expenses 1,000,000Cash 280,000Dividends 80,000Inventory 40,000Accounts payable 160,000Accounts receivable 120,000Retained earnings, 1/1/20XX 600,000Rodger’s assets on December 31, 20XX area. $1,880,000.b. $1,360,000.c. $640,000.d. $760,000.
- Fatima Company compiled the following financial information as of December 31, 2013: Revenues $140,000Common Stock 45,000Equipment 40,000Accumulated depreciation on equipment 15,000Expenses 60,000Cash 35,000Dividends 20,000Supplies 5,000Accounts payable 20,000Accounts receivable 15,000Retained earnings, 1/1/13…The following balance sheets were reported on January 1, 2014, for Peach Company and Stream Company: Peach Stream Cash $103,800 $19,410 Inventory 303,700 98,100 Equipment (net) 946,730 416,580 Total $1,354,230 534,090 Total Liabilities $321,800 $104,000 Common stock, $20 par value 406,600 190,300 Other contributed capital 269,700 71,160 Retained earnings 356,130 168,630 Total $1,354,230 $534,090 Appraisals reveal that the inventory has a fair value of $124,020, and the equipment has a current value of $453,380. The book value and fair value of liabilities are the same. Assuming that Peach Company wishes to acquire Stream for cash in an asset acquisition, determine the following cutoff amounts: (a) The purchase price above which Peach would record goodwill. Purchase price $Hancock Company reported the following account balancesat December 31, 2027:Sales revenue $97,000Dividends. $11,000Supplies 13,000Accounts payable 41,000Patent $59,000Building Common stock.. $27,000Insurance expense .... $31,000Notes payable .. $39,000Income tax expense $42,000Cash . . $19,000Repair expense ?Copyright $20,000Equipment $14,000Utilities payable. $22,000Inventory $64,000Retained earnings. .. $87,000 (at Jan. 1, 2027)Interest revenue $55,000Cost of goods sold ..... .. $37,000Accumulated depreciation .... $23,000 $34,000Accounts receivable ? Trademark. ... $51,000Calculate the total intangible assets reported in HancockCompany's December 31, 2027 balance sheet. The following additional information is available:1) The note payable listed above was a 4- year bank loan taken out on September 1, 2024.2) The total P - P - E at Dec. 31, 2027 was equal to 75% of the total current liabilities at Dec. 31, 2027. ՄԴ S
- Here are simplified financial statements for Watervan Corporation: INCOME STATEMENT (Figures in $ millions) Net sales $ 887.00 Cost of goods sold 747.00 Depreciation 37.00 Earnings before interest and taxes (EBIT) $ 103.00 Interest expense 18.00 Income before tax $ 85.00 Taxes 17.85 Net income $ 67.15 BALANCE SHEET (Figures in $ millions) End of Year Start of Year Assets Current assets $ 375 $ 324 Long-term assets 270 228 Total assets $ 645 $ 552 Liabilities and shareholders’ equity Current liabilities $ 200 $ 163 Long-term debt 114 127 Shareholders’ equity 331 262 Total liabilities and shareholders’ equity $ 645 $ 552 The company’s cost of capital is 8.5%. Required: Calculate Watervan’s economic value added (EVA). Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places. What is the company’s return on capital? (Use start-of-year rather than average capital.) Note: Do not…Here are simplified financial statements for Watervan Corporation: INCOME STATEMENT (Figures in $ millions) Net sales $ 887.00 Cost of goods sold 747.00 Depreciation 37.00 Earnings before interest and taxes (EBIT) $ 103.00 Interest expense 18.00 Income before tax $ 85.00 Taxes 17.85 Net income $ 67.15 BALANCE SHEET (Figures in $ millions) End of Year Start of Year Assets Current assets $ 375 $ 324 Long-term assets 270 228 Total assets $ 645 $ 552 Liabilities and shareholders’ equity Current liabilities $ 200 $ 163 Long-term debt 114 127 Shareholders’ equity 331 262 Total liabilities and shareholders’ equity $ 645 $ 552 The company’s cost of capital is 8.5%. Required: What is the company’s return on capital? (Use start-of-year rather than average capital.) Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. P.S - Answer is not 17.26%.HCB, Inc.'s financial partial statements are shown below. HCB Income Statement 2021 Sales 2,000.0 Assets 2021 Cash 86.0 Accounts receivable 360.0 Inventory 320.0 Short-term investments 223.0 Total current assets 989.0 Net fixed assets 1,940.0 Total assets 2,929.0 Liabilities and equity 2021 Accounts payable 200.0 Accruals 240.0 Short-term debt 292.9 Total current liabilities 732.9 Long-term debt 1,757.4 Total liabilities 2,490.3 Par + paid in capital less treasury 238.7 Retained earnings 200.0…
