Horizon Tools Inc. has the following financial information: • Inventory: $19,500 • • Accounts Payable: $15,200 Cash: $2,100 Net Fixed Assets: $21,300 Long-term Debt: $18,000 Accounts Receivable: $9,600 • • Total Equity: $20,400 What is the common-size percentage for the net fixed assets?
Q: An asset's book value is $35,000 on December 31, Year 7. The asset has been depreciated at an annual…
A: Step 1: DefinitionsConcept of Book Value:Book value is the net value of an asset after deducting…
Q: Delta enterprises had credit sales of $50,000 and cash sales of $25,000 during the year.
A: To calculate Delta's 2017 cash basis net income, we only consider actual cash received and actual…
Q: Calculate the cost of goods sold
A: Explanation of FIFO (First-In, First-Out):FIFO, or First-In, First-Out, is an inventory valuation…
Q: I need financial accounting question answer
A: Step 1: Define Debt to Equity RatioThe Debt to Equity Ratio measures a company's financial leverage…
Q: Could you explain the steps for solving this financial accounting question accurately?
A: Definition of Contribution Margin:The contribution margin represents the amount remaining from sales…
Q: Choice correct answer with accounting question
A: Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) is a financial ratio that…
Q: One of Timothee Manufacturing Company's activity cost pools is quality testing, with an estimated…
A: Step 1: Definitions Concept of Activity Cost Pool:An activity cost pool is a collection of all costs…
Q: Question
A: Definition of Job Order Costing:Job order costing is a method used to assign costs to specific jobs…
Q: Financial Accounting
A: Step 1: Identify the Given InformationNext expected dividend (D1) = $1.85Constant dividend growth…
Q: Don't Use AI
A: To calculate the absorption costing unit product cost, we include all manufacturing costs, both…
Q: Solve
A: Step 1: Definition of Operating Cash Flow (OCF)Operating Cash Flow (OCF) represents the cash…
Q: Solve this Accounting Problem
A: Provided Data:Tons of gravel produced and sold = 289,000Sales revenue = $980,600Variable…
Q: I need help with this solution and accounting question
A: Step 1: Definition of Debt to Assets RatioThe Debt to Assets Ratio is a financial ratio that…
Q: Accounting question 4 points
A: Explanation of Cash from Operating Activities :Cash from operating activities represents the amount…
Q: Murdock Corporation's July 31 bank reconciliation shows deposits in transit of $1,800. The general…
A: To find the deposits in transit as of August 31, we use this formula:Deposits in Transit (August 31)…
Q: Given the solution and accounting question
A: Step 1: Definition of Accounting EquationThe Accounting Equation is the foundation of a company's…
Q: I need guidance with this general accounting problem using the right accounting principles.
A: Step 1: Definition of Finished Goods Inventory (Opening)Finished Goods Inventory (Opening) refers to…
Q: Quick answer of this accounting
A: Step 1: Introduction to notesNotes are also known as promissory notes which are a sort of debt…
Q: I need help solving this general accounting question with the proper methodology.
A: Step 1: Define Absorption and Variable Costing Absorption costing includes all manufacturing costs…
Q: How much of the quality testing cost pool should be assigned to compact models?
A: Definition of Activity-Based Costing (ABC):Activity-Based Costing is a method of assigning overhead…
Q: Read The company events occured during the first half of the year and answer the following…
A: Here is a full and properly formatted response to your questions based on the company's events…
Q: What is the balance in the allowance for sales returns account at the end of 2018?
A: Concept of Allowance for Sales Returns:The allowance for sales returns is a contra-revenue account…
Q: Financial Accounting question
A: Step 1: Define Return on Common Stockholders' Equity (ROE)Return on Common Stockholders' Equity…
Q: Calculate the depreciation expense.
A: Definition of Depreciation:Depreciation is the systematic allocation of the cost of a tangible fixed…
Q: Please given correct answer for General accounting question I need step by step explanation
A: Step 1: Define Labor Quantity VarianceLabor Quantity Variance measures the difference between the…
Q: Please provide the accurate answer to this general accounting problem using valid techniques.
A: Step 1: Definition of Rent Expense (Accrual Basis)Rent expense under the accrual basis of accounting…
Q: What is the amount of the gross profit?
A: Explanation of Sales:Sales refer to the total revenue earned by a business from selling goods or…
Q: Provide correct answer this general accounting question
A: Step 1: Define Operating Income under Variable CostingOperating income under variable costing is…
Q: Barton Electronics, a company specializing in consumer electronics, needed a new store to…
A: Concept of Land Cost:Land cost refers to the total amount paid to acquire a piece of land and…
Q: Accounting problem with correct solution
A: Step 1: Definition of Units Completed (in Process Costing)Units Completed refers to the total number…
Q: Which principle requires expenses to be recorded in the same period as the revenues they help…
A: The correct answer is: B) Matching PrincipleExplanation:The Matching Principle is a fundamental…
Q: Which financial statement shows the financial position of a company on a specific date?a) Income…
A: The correct answer is c) Balance Sheet.The Balance Sheet shows a company's financial position on a…
Q: Can you provide the accurate answer to this financial accounting question using correct methods?
A: Step 1: Definitions Concept of Dividend Payout Ratio:The dividend payout ratio is the proportion of…
Q: I need assistance with this financial accounting problem using valid financial procedures.
A: Provided Data:Profit Margin = 6%Equity Multiplier = 3.0Sales = $93 millionTotal Assets = $50…
Q: what is the rate of return on assets ? for financial accounting question pls solve fast
A: To calculate the rate of return on assets (ROA), use this formula:ROA = (Net Income ÷ Invested…
Q: Given the solution and accounting question
A: Step 1: Definition of Total Asset TurnoverTotal asset turnover is a financial efficiency ratio that…
Q: Please given correct answer for General accounting question I need step by step explanation
A: Step 1: Define Return on Assets (ROA)Return on Assets (ROA) measures how efficiently a firm uses its…
Q: What is the variable overhead efficiency variance for the month?
A: Concept of Standard Hours:Standard hours refer to the number of labor or machine hours that should…
Q: Hello tutor solve this question and accounting question
A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is a rate used to…
Q: What is return? Financial accounting
A:
Q: Could you help me solve this financial accounting question using appropriate calculation technical.
A: To calculate Return on Equity (ROE), we use the DuPont formula:ROE = Profit Margin × Total Asset…
Q: On April 15, 2021, after adjusting entries were posted, Alice Corporation sold equipment. The…
A: Explanation of Historical Cost :Historical cost refers to the original purchase price of an asset…
Q: Sunset Industries estimates its total manufacturing overhead as $540,000 and expects to use 45,000…
A: Step 1: Definition of Predetermined Overhead RateThe Predetermined Overhead Rate is a rate…
Q: None
A: Final Answer: Approximately 45.5 days
Q: I need help with this general accounting question using standard accounting techniques.
A: Step 1: Definition of Value-Added TimeValue-added time includes only the time spent on activities…
Q: Hii teacher please provide for General accounting question answer do fast
A: Step 1: Define Profitability Index (PI)The Profitability Index (PI) is a capital budgeting tool that…
Q: Please give me true answer this financial accounting question
A: To calculate the required return on the stock, we use the Gordon Growth Model (also known as the…
Q: Can you solve this financial accounting problem using accurate calculation methods?
A: Explanation of Current Ratio:The current ratio is a financial metric that evaluates a company's…
Q: I am searching for the correct answer to this general accounting problem with proper accounting…
A: Step 1: Definition of Acid-Test RatioThe acid-test ratio (also called the quick ratio) measures a…
Q: Please provide the correct answer to this general accounting problem using accurate calculations.
A: Step 1: Definition of Cash Flow from Operating ActivitiesCash flow from operating activities…
I am searching for the most suitable approach to this financial accounting problem with valid standards.
Step by step
Solved in 2 steps
- What is the common size percentage for the net fixed assets?Question: ABC Company has the following financial data: Cash: $30,000Accounts Receivable: $50,000Inventory: $40,000Accounts Payable: $25,000Short-term Debt: $15,000Other Current Liabilities: $20,000Calculate the following: Current AssetsCurrent LiabilitiesCurrent Ratio explain.ABC Company has the following financial data: Cash: $30,000Accounts Receivable: $50,000Inventory: $40,000Accounts Payable: $25,000Short-term Debt: $15,000Other Current Liabilities: $20,000Calculate the following: Current AssetsCurrent LiabilitiesCurrent Ratio
- Step by step answerConsider this simplified balance sheet for Geomorph Trading: Current assets $ 120 Current liabilities $ 70 Long-term assets 520 Long-term debt 270 Other liabilities 90 Equity 210 $ 640 $ 640 Required: What is the company’s debt-equity ratio? Note: Round your answer to 2 decimal places.Provide quick ratio?
- Consider this simplified balance sheet for Geomorph Trading: Current assets Long-term assets $ 245 Current liabilities Long-term debt 630 Other liabilities Equity $ 875 Required: a. What is the company's debt-equity ratio? (Hint: debt = Current liabilities, Long-term debt, and Other liabilities) Note: Round your answer to 2 decimal places. b. What is the ratio of total long-term debt to total long-term capital? Note: Round your answer to 2 decimal places. c. What is its net working capital? d. What is its current ratio? Note: Round your answer to 2 decimal places. $ 170 215 140 350 $ 875 a Debt-equity ratio b. Long-term debt-to-capital ratio c. Net working capital d. Current ratioThe following is selected financial data from Block Industries: How much does Block Industries have in current liabilities? A. $19,800 B. $18,300 C. $12,300 D. $25,800Consider this simplified balance sheet for Geomorph Trading: Current assets Long-term assets $ 110 510 Net working capital $ 620 a. Debt-equity ratio b Long-term debt-to-capital ratio C. d. Current ratio a. What is the company's debt-equity ratio? (Round your answer to 2 decimal places.) b. What is the ratio of total long-term debt to total long-term capital? (Round your answer to 2 decimal places.) c. What is its net working capital? d. What is its current ratio? (Round your answer to 2 decimal places.) Current liabilities Long-term debt Other liabilities Equity $ 65 275 80 200 $ 620
- Please provide this question answer general accountingConsider this simplified balance sheet for Geomorph Trading: Current assets $ 350 Current liabilities $ 310 Long-term assets 700 Long-term debt 180 Other liabilities 70 Equity 490 $ 1,050 $ 1,050 Required: What is the company’s debt-equity ratio? Note: Round your answer to 2 decimal places. What is the ratio of total long-term debt to total long-term capital? Note: Round your answer to 2 decimal places. What is its net working capital? What is its current ratio?What is the value of the total assets?