I want to correct answer general accounting Fill in the missing information from the balance sheet.Summit Industries Balance Sheet As of December 31, 2023 (Amounts inthousands)Cash $4,500Liabilities $5,200Other assets $3,700Equity? Total assets? Total liabilities and equity?What is the value of equity?

Explanation: Following data is given in the question:Cash = $4,500; Other assets = $3,700;…

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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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Suppose the 2025 adidas financial statements contain the following selected data (in millions). Current assets Total assets Current liabilities Total liabilities Cash $4,582 8,900 2,900 5,162 (c) 750 (a1) Compute the following values. Interest expense Income taxes Net income (a) Working capital. (Enter answer in millions.) $150 100 275 (b) Current ratio. (Round to 2 decimal places, e.g. 6.25:1.) Debt to assets ratio. (Round to O decimal places, e.g. 62%.) (d) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) $ ta millions :1 % times
Use the table for the question(s) below. Consider the following balance sheet: Luther Corporation Consolidated Balance Sheet December 31, 2019 and 2018 (in $ millions) Assets 2019 2018 Liabilities and Stockholders' Equity 2019 2018 Current Assets Current Liabilities Cash 63.6 58.5 Accounts payable 87.6 73.5 Accounts receivable 55.5 39.6 Notes payable / short−term debt 10.5 9.6 Inventories 45.9 42.9 Current maturities of long−term debt 39.9 36.9 Other current assets 6.0 3.0 Other current liabilities 6.0 12.0 Total current assets 171.0 144.0 Total current liabilities 144.0 132.0 Long−Term Assets Long−Term Liabilities Land 66.6 62.1 Long−term debt 239.7 168.9 Buildings 109.5 91.5 Capital lease obligations −−− −−−…
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Southwestern Industries has the following selected data ($ in millions): Balance sheet data Total assets Total liabilities Total stockholders' equity Income statement data Sales. Interest expense Income tax expense Net income 2024 1. Debt to equity ratio 2. Return on assets ratio 3. Times interest earned ratio $2,700 1,950 750 $750 80 30 95 2023 Required: Based on these amounts, calculate the following ratios for Southwestern Industries in 2024: (Round your answers to 2 decimal places.) % times $2,100 1,100 1,000
has the following balance sheet (December 31, 2023). The figures are in $ million. Cash Short-term investments Accounts receivable Inventory Current assets Gross fixed assets Accumulated deprec. Net fixed assets $40 30 30 70 170 250 50 200 Total assets Accounts payable Accruals Notes payable $370 Current liabilities Long-term debt Common stock (par value=$1) Retained earnings Total common equity Total liab. & equity Note that only 50% of "cash" (shown in the balance sheet above) is used in operation. $30 50 10 90 70 30 180 210 Use the above information to answer questions 8 8. What is its total operating capital for 2023? $240 m $370
Is Maness receiving a good return on equity? Explain.
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Using the Balance Sheet and Income Statement please calculate the following: Balance Sheet Assets Liabilities and Owner’s Equity 2018 2019 2018 2019 Current Assets Current Liabilities Cash 300 325 Acts Pay 480 400 Accs Rec 275 270 Notes Pay 560 500 Inventory 600 675 Total 1,040 900 Total 1,175 1,270 Long Term Debt 950 1,200 Fixed Assets Net Fixed 2,350 2,875 Owners Equity Preferred Stock 750 845 Retained Earn 785 1,200 Total 1,535 2,045 Total Assets 3,525 4,145 Total Liabilities & OE 3,525 4,145 2019 Income Statement Net Sales 3,456 COGS 1,895 Depreciation 235 EBIT 1,326 Interest 320 Taxable Income 1,006 Taxes 211.26 Net Income 794.74 Dividends 147 Additions to Retained Earnings 647.74…
Cheyenne Inc. had the following balance sheet at December 31, 2024. Cash Accounts receivable Investments Plant assets (net) Land 1. 2. 3. 4. During 2025, the following occurred. 5. 6. 7. Cheyenne Inc. Balance Sheet December 31, 2024 8. $23,760 24,960 35,760 81,000 43,760 $209,240 Accounts payable Notes payable (long-term) Common stock Retained earnings $33,760 44,760 103,760 26,960 $209,240 Cheyenne Inc. sold part of its debt investment portfolio for $17,060. This transaction resulted in a gain of $5,460 for the firm. The company classifies these investments as available-for-sale. A tract of land was purchased for $16,760 cash. Long-term notes payable in the amount of $18,060 were retired before maturity by paying $18,060 cash. An additional $22,060 in common stock was issued at par. Dividends of $10,260 were declared and paid to stockholders. Net income for 2025 was $35,760 after allowing for depreciation of $13,060. Land was purchased through the issuance of $38,760 in bonds. At…
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Use the statement of financial position as at 31 December 2022, statement of comprehensive income for the year ended 31 December 2022 and additional information for 2022 (related to dividends and shares) to calculate the ratio (expressed to two decimal places) that would reflect each of the following: 1. The extent to which the claims of the short-term creditors are covered by assets that can be translated into cash in the short term2. The extent to which long-term debt is covered by shareholders’ funds3. The amount of funds available relative to sales, to pay the company’s expenses other than its cost of sales (expressed as a percentage)4. The distributions during the period allocated to each ordinary share issued5. An indication of the percentage of the profit that has been put back into the company 6. The ratio of a company's current stock price to its earnings per share

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Fill in the missing information from the balance sheet. Summit Industries Balance Sheet As of December 31, 2023 (Amounts in thousands) Cash $4,500 Liabilities $5,200 Other assets $3,700 Equity? Total assets? Total liabilities and equity? What is the value of equity?