Hi expart Provide solution Financial information related to Montana Interiors for October andNovember 20Y8 are as follows:Line Item Description October 31, 20Y8 November 30, 20Y8Accounts Payable$66,100Accounts Receivable 146,100$71,400167,900Capital StockRetained earnings130,000170,000Cash257,800437,600Supplies12,90010,700Prepare a balance sheet for Montana Interiors as of October 31, 20Y8.

Step 1: Introduction to the Balance SheetA company must prepare its balance sheet to report its…

Answered: Financial information related to…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter8: Liabilities And Stockholders' Equity

Section: Chapter Questions

Problem 8.1.2MBA

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E9-6 Current Position Analysis Obj. 3 .................. The following data were taken from the comparative balance sheet of Icon Living, Inc., for the years ended December 31, 20Y9 and December 31, 20Y8: Cash Temporary investments Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Accounts payable Accrued liabilities Total current liabilities ▸ Details Dec. 31, 20Y9 $ 75,000 125,000 250,000 425,000 25,000 $ 900,000 $ 350,000 25,000 $ 375,000 Dec. 31, 2018 $ 50,000 75,000 200,000 305,000 20,000 $ 650,000 $ 230,000 20,000 $ 250,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. b. What conclusions can be drawn from these data?
Days' cash on handFinancial statement data for years ending December 31 for NewtonCompany follow: 20Y9 20Y8 Cash (end of year)Short-term investments (end of year)Operating expensesDepreciation expense $25,5008,27060,13513,225 $24,2509.46063,78011,400 Determine the days' cash on hand for 20Y8 and 2019. Round allcalculations to one decimal place.
Current Position Analysis The following data were taken from the comparative balance sheet of Osborn Sisters Company for the years ended December 31, 20Y9 and December 31, 20Y8: Dec. 31, 20Y9 Dec. 31, 20Y8 Cash $361,500 $268,700 Temporary investments 385,700 294,400 Accounts and notes receivable (net) 354,800 320,900 Inventories 495,900 397,800 Prepaid expenses 374,100 122,200 Total current assets $1,972,000 $1,404,000 Accounts payable $336,400 $364,000 Accrued liabilities 243,600 156,000 Total current liabilities $580,000 $520,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. 20Y9 20Υ8 Working capital $ 2$ Current ratio Quick ratio
Calculate the activity and liquidity ratios for P for the year ended 31 December 20X9. Revenue Gross profit Inventory Trade receivables Trade payables Cash Short-term investments Other current liabilities $m 1,867.5 489.3 147.9 393.4 275.1 53.8 6.2 284.3 Current ratio= Current assets Current liabilities Inventory days Inventory days = inventory+ cost of sales × 365 Receivable days Receivable days - receivables + credit sales x 365 Payable days Payable days = payables ÷ credit purchases x 365.
Current Position Analysis The following data were taken from the comparative balance sheet of Icon Living, Inc., for the years ended December 31, 20Y9 and December 31, 20Y8: Dec. 31, 20Y9 Dec. 31, 20YS Cash $257,200 $187,300 Temporary investments 274,400 205,100 Accounts and notes receivable (net) 252,400 223,600 Inventories 352,800 277,200 Prepaid expenses 235,200 118,800 Total current assets $1,372,000 $1,012,000 Accounts payable $284,200 $308,000 Accrued liabilities 205,800 132,000 Total current liabilities $490,000 $440,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Working capital Current ratio Quick ratio 2019 20Y8 b. The liquidity of Icon Living, Inc., has from 20Y8 to the 20Y9. The working capital, current ratio, and quick ratio have all Most of these changes are the result of
General Accounting
Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year $ 27,970 80, 264 100,917 9,097 251, 134 $ 469,382 $ 116,876 90,891 163,500 98,115 $ 469,382 $ 372,220 189,161 10,373 7,933 For both the current year and one year ago, compute the following ratios: Current Year 1 Year Ago $ 31,400 58,349 77,104 8,412 229,375 $ 404,640 Exercise 13-9 (Algo) Analyzing risk and capital structure LO P3 $ 70,436 92,137 163,500 78,567 $ 404,640 The company's income statements for the current year and one year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share $ 610,197 579,687 $ 30,510 $1.88 2 Years Ago $ 312,989…
TB MC Qu. 17-138 (Algo) Refer to the following selected financial... Refer to the following selected financial information from Texas Electronics. Compute the company's current ratio for Year 2. Year 2 Year 1 Cash Short-term investments Accounts receivable, net Merchandise inventory $ 38,200 $ 32,950 97,000 63,500 89,000 83,000 124,500 128,500 Prepaid expenses 12,800 10,400 Plant assets 391,500 341,500 Accounts payable 109,900 111,300 ices Net sales 714,500 679,500 Cost of goods sold 393,500 378,500 Multiple Choice 3.29 3.17
Item Prior year Current year Accounts payable 8,112.00 7,889.00 Accounts receivable 6,029.00 6,526.00 Accruals 981.00 1,445.00 Cash ??? ??? Common Stock 10,050.00 11,831.00 COGS 12,659.00 18,136.00 Current portion long-term 5,054.00 5,053.00 debt Depreciation expense 2,500 2,814.00 Interest expense 733 417 Inventories 4,101.00 4,816.00 Long-term debt 14,355.00 13,032.00 Net fixed assets 51,776.00 54,131.00 Notes payable 4,395.00 9,850.00 Operating expenses (excl. 13,977 depr.) 18,172 Retained earnings 28,273.00 29,816.00 Sales 47,524 Taxes 2,084 2,775 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.
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
(1) Debt and equity ratios. (2-a) Compute debt-to-equity ratio for the current year and one year ago. (2-b) Based on debt-to-equity ratio, does the company have more or less debt in the current year versus one year ago? (3-a) Times interest earned. (3-b) Based on times interest earned, is the company more or less risky for creditors in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Required 3A Required 3B Compute debt and equity ratio for the current year and one year ago. Current Year: 1 Year Ago: Current Year: 1 Year Ago: Numerator: Numerator: Debt Ratio 1 1 Equity Ratio 1 1 1 1 Required 1 Denominator: Denominator: = = = Required 2A > Debt Ratio Debt ratio % % Equity Ratio Equity ratio % %
The following data were taken from the comparative balance sheet of Osborn Sisters Company for the years ended December 31, 20Y9 and December 31, 20Y8: Dec. 31, 20Y9 Dec. 31, 20Y8Cash $399,800 $300,000 Temporary investments 426,700 328,700 Accounts and notes receivable (net) 392,500 358,300 Inventories 548,600 444,200 Prepaid expenses 299,400 166,800 Total current assets $2,067,000 $1,598,000 Accounts payable $307,400 $329,000 Accrued liabilities 222,600 141,000 Total current liabilities $530,000 $470,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. 20Y9 20Y8Working capital $$Current ratio Quick ratio b. The liquidity of Osborn Sisters Company has from 20Y8 to the 20Y9. The working capital, current ratio, and quick ratio have all . Most of these changes are the result of .

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