Ex/ Presented below are numbers of balance sheet items for Santana Co. for current year 2007. - Capital 42750 - Net income 1900 - With druwles 800 - Building - Factory 8000 Equipment 15000 - - Building - Administration 3000 - Machinery 3500 - Furnitures 1700 - Loan short term 6000 - Account receivable 1750 - Account payable 1100 - Notes receivable 1500 - Notes payable 2500 - Bank 3200 - Cash 2800 - Ending raw materials inventory 7500 - Ending work in process inventory 2800 - Ending finished goods inventory 2700 Ins 1- Prepare a classified balance sheet in a good format ( used T account ). 2- Prepare a classified balance sheet in a good format ( used statement form ).

Ex/ Presented below are numbers of balance sheet items for Santana Co. for current year 2007. - Capital 42750 - Net income 1900 - With druwles 800 - Building - Factory 8000 Equipment 15000 - - Building - Administration 3000 - Machinery 3500 - Furnitures 1700 - Loan short term 6000 - Account receivable 1750 - Account payable 1100 - Notes receivable 1500 - Notes payable 2500 - Bank 3200 - Cash 2800 - Ending raw materials inventory 7500 - Ending work in process inventory 2800 - Ending finished goods inventory 2700 Ins 1- Prepare a classified balance sheet in a good format ( used T account ). 2- Prepare a classified balance sheet in a good format ( used statement form ).

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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The following table shows some selected financial information of Salalah Company. Net Profit/Income 44000 Interest Expenses 4000 Rent Expenses 2000 Vehicles 20000 Receivables 8000 Inventories 10000 Machinery 21000 Prepaid Expenses 5000 Bills Payable 14000 Long term loans 28000 According to the given information, which of the following shows the Return on Assets? Select one: O a. 1 O b. 0.50 O c. 0.75 O d. 0.25
Suppose the following items were taken from the 2022 financial statements of Texas Instruments, Inc. (All dollars are in millions.) Common stock Prepaid rent Equipment Stock investments (long-term) Debt Investments (short-term) Income taxes payable Cash $2.826 164 6,705 637 1,743 128 1,182 Accumulated depreciation-equipment Accounts payable Patents Notes payable (long-term) Retained earnings Accounts receivable V Inventory TEXAS INSTRUMENTS, INC. Balance Sheet (in millions) Assets $3.547 1,459 2,210 Prepare a classified balance sheet in good form as of December 31, 2022. (List Current Assets in order of liquidity) $ 810 6,896 1,823 1,202 Liabilities and Stockholders' Equity $ $ $ $
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The following comparative balance sheet is given for Estern Co.: Assets Dec 31, 2021 Dec 31, 2020 Cash $58,500 $351,000 72,000 Notes Receivable 63,000 Supplies & Inventory 81,000 121,500 Prepaid expense 31,500 54,000 Long-term investments 0 81,000 Machines and tools 166,500 144,000 Accumulated depreciation-equipment (63.000) (45,000) Total Assets $639,000 $477.000 Liabilities & Stockholders' Equity Accounts payable $ 76,500 $ 31,500 Bonds payable (long-term) 166,500 211,500 Common Stock 180,000 103,500 Retained Earnings 216.000 130.500 Total Liabilities & Stockholders' Equity $639.000 $477,000 Income Statement Information (2021): 1. Net income for the year ending December 31, 2021 is $130,500. 2. Depreciation expense is $18,000. 3. There is a loss of $9,000 resulted from the sale of long-term investment. Additional information (2021): 1. All sales and purchases of inventory are on account (or credit). 2. Received cash for the sale of long-term investments that had a cost of $81,000,…
The following table shows some selected financial information of Salalah Company. Net Profit/Income 44000 Interest Expenses 4000 Rent Expenses 2000 Vehicles 20000 Receivables 8000 Inventories hoo00 Machinery 21000 Prepaid Expenses Bills Payable 04000 Long terrm loans 28000 According to the given information, which of the following shows the Return an Assets? Select one: O a. 1 O b. 0.5O c. 0.75 O d. 0.25
mework i 0 ences Mc Graw Hill INCOME STATEMENT OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) Net sales Costs Depreciation Earnings before interest and taxes (EBIT) Interest expense Pretax income Federal taxes (@ 21%) Net income Assets Current assets Cash and marketable securities Receivables Inventories Other current assets Total current assets Fixed assets Property, plant, and equipment Intangible assets (goodwill) Other long-term assets Total assets a. Free cash flow b. Additional tax c. Free cash flow million million million $ 27,571 17,573 1,406 $ 8,592 521 2022 8,071 1,695 $ 6,376 BALANCE SHEET OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) 2021 $ 2,340 1,379 126 1,093 $ 4,938 $ 24,681 2,808 2,987 $ 35,414 $ 2,340 1,339 121 620 $ 4,420 Saved $ 22,839 2,657 3,103 Liabilities and Shareholders' Equity Current liabilities Debt due for repayment Long-term debt Other long-term liabilities Total liabilities Total shareholders' equity $ 33,019 Total liabilities and…
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