Answered: Hosung Company's cash account adjusted…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter16: Financial Statements And Closing Entries For A Corporation

Section: Chapter Questions

Problem 5AP

See similar textbooks

Similar questions

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.
Item Prior year Current year Accounts payable 8,198.00 7,775.00 Accounts receivable 6,030.00 6,768.00 Accruals 1,007.00 1,602.00 Cash ??? ??? Common Stock 10,168.00 12,293.00 COGS 12,621.00 18,231.00 Current portion long-term 4,953.00 5,046.00 debt Depreciation expense 2,500 2,756.00 Interest expense 733 417 Inventories 4,136.00 4,819.00 Long-term debt 14,434.00 13,704.00 Net fixed assets 50,920.00 54,636.00 Notes payable 4,385.00 9,940.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,358.00 30,071.00 Sales 35,119 47,773.00 Тахes 2,084 2,775 What is the firm's total change in cash from the prior year to the current year? Submit Answer format: Number: Round to: 0 decimal places.
At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Current Year 1 Year Ago $ 28,952 85,608 105,504 9,512 266,097 $ 33,842 61,019 78,261 9,153 245,029 $ 427,304 $ 495,673 $ 123,423 $ 70,770 Long-term notes payable Common stock, $10 par value Retained earnings 92,255 162,500 117,495 Total liabilities and equity $ 495,673 $ 427,304 99,263 163,500 93,771 For both the current year and one year ago, compute the following ratios: 2 Years Ago $ 35,979 49,426 52,128 4,038 225,529 $ 367,100 $ 49,426 81,940 162,500 73,234 $ 367,100 Exercise 17-7 (Algo) Analyzing liquidity LO P3 (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three-year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three-year period? Complete this question by entering your…
Revenues CGS Cash & Equivalents Accounts Receivable Inventory Accounts Payable Accruals Notes Payable Last Year $5,700.00 $4,560.00 $714.80 $500.00 $300.00 $320.00 $40.00 $70.00 Current Year $5,050.00 $4,040.00 $120.00 $500.00 $340.00 $300.00 $50.00 $60.00 1. For both years, calculate the current ratio) quick ratio, NWC, and WCR. Interpret the values for the current year. Also, discuss the observed two-year trend in solvency. 2. For both years, calculate the CCC (and its components), the NLB, and DCH. Interpret the values for the current year. Also, discuss the observed two-year trend in liquidity.
#8 Item Prior year Current year Accounts payable 8,118.00 7,921.00 Accounts receivable 6,037.00 6,546.00 Accruals 991.00 1,310.00 Cash ??? ??? Common Stock 11,601.00 12,956.00 COGS 12,736.00 18,335.00 Current portion long-term 5,077.00 4,951.00 debt Depreciation expense 2,500 2,817.00 Interest expense 733 417 Inventories 4,286.00 4,812.00 Long-term debt 14,771.00 13,457.00 Net fixed assets 51,237.00 54,139.00 Notes payable 4,325.00 9,906.00 Operating expenses (excl. 13,977 18,172 depr.) Retained earnings 28,135.00 30,497.00 Sales 35,119 47,877.00 Таxes 2,084 2,775 What is the firm's cash flow from financing? Submit Answer format: Number: Round to: 0 decimal places.
SCHEDULE OF ACCOUNTS RECEIVABLE From the accounts receivable ledger shown, prepare a schedule of accounts receivable for Gelph Co. as of November 30, 20--.
#9 Item Prior year Current year Accounts payable 8,122.00 7,930.00 Accounts receivable 6,011.00 6,556.00 Accruals 1,028.00 1,686.00 Cash ??? ??? Common Stock 11,889.00 11,432.00 COGS 12,613.00 18,213.00 Current portion long-term 4,995.00 4,975.00 debt Depreciation expense 2,500 2,793.00 Interest expense 733 417 Inventories 4,294.00 4,819.00 Long-term debt 13,601.00 13,831.00 Net fixed assets 50,018.00 54,610.00 Notes payable 4,367.00 9,942.00 Operating expenses (excl. 13,977 18,172 depr.) Retained earnings 28,908.00 30,580.00 Sales 35,119 45,307.00 Тахes 2,084 2,775 What is the firm's cash flow from investing? Submit Answer format: Number: Round to: 0 decimal places.
jjj
Privett Company Accounts payable Accounts receivable Accrued liabilities Cash $34,824 71,366 6,577 17,107 41,282 80,242 119,433 74,290 32,322 21,034 699,355 2,476 Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point? Oa. 0.8 Ob. 17 Oc. 1.9 Od. 3.3 Intangible assets Inventory Long-term investments Long-term liabilities Marketable securities Notes payable (short-term) Property, plant, and equipment Prepaid expenses 4 Previ
During the month of August, Karlsson Industries had the following transactions: Aug. 2 Aug. 6 Aug. 10 Aug. 15 Aug. 21 Aug. 28 Aug. 31 Paid cash for the August rent of $1,500. Purchased supplies of $250 on account. Collected $5,700 from customers on account. Received $2,200 cash for services to be rendered in September. Paid for supplies purchased on account on August 6. Billed customers for $7,500 for services provided in August. Paid $150 cash for utilities expense. For each transaction fill in the below table for the date of the transaction, the account name to be debited and credited and the ef on the respective account: increase to the account and for a decrease to the account.
Q L. From the following Trial Balance prepare Trading and Profit and Loss Account for the year ended 31 December, 2020 and Balance Sheet as on that date: Cr. (Rs.) Dr. (Rs.) 10,000 46,000 1,50,200 3,400 22,660 600 38,600 840 1,640 280 3,300 4,000 200 29,000 Drawings Stack on 01/01/2019 Purchases and Purchases Returns Cash in Hand Bank Balance Freehold Premises Trade Expenses Printing, stationery and Advertising Professional Charges Commission Received Investments as on 1" Jan. @ 10% Interest on above Sundry Debtors and Creditors Wages Salaries Capital Income Tax Discount allowed and received Sales Returns and Sales Bills Receivable /Bills Payable Office furniture Rent, Rates and Insurance Bad Debts Provisions Total Adjustments: 36,000 25,000 14,000 1,14,000 1,600 6,300 550 3.200 4,600 2,08,950 10,000 3,050 4,000 670 3.71,320 3,71,320 (a) Provide for wages Rs. 5,000. (b) Write Off 5%…
r O Part 6 of 6 1.7 points [The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Current Year 1 Year Ago 2 Years Ago $ 28,101 81,446 $ 33,180 $ 34,555 58,645 46,074 49,078 eBook Hint 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 104,472 9,232 257,854 $ 481,105 $ 118,597 93,161 162,500 106,847 74,426 8,535 239,960 $414,746 $ 67,989 96,345 162,500 87,912 $ 481,105 $ 414,746 3,764 208,729 $ 342,200 $ 46,074 75,626 162,500 58,000 $ 342,200 For both the current year and one year ago, compute the following ratios: Print References The company's income statements for the Current Year and 1 Year Ago, follow. Other operating expenses Income tax expense Total costs and expenses Net income Earnings per share For Year Ended…

SEE MORE QUESTIONS

Recommended textbooks for you

Century 21 Accounting General Journal

Accounting

ISBN:

9781337680059

Author:

Gilbertson

Publisher:

Cengage

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Financial Accounting

Accounting

ISBN:

9781337272124

Author:

Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:

Cengage Learning

Century 21 Accounting General Journal

Accounting

ISBN:

9781337680059

Author:

Gilbertson

Publisher:

Cengage

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Financial Accounting

Accounting

ISBN:

9781337272124

Author:

Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:

Cengage Learning

Financial Accounting: The Impact on Decision Make…

Accounting

ISBN:

9781305654174

Author:

Gary A. Porter, Curtis L. Norton

Publisher:

Cengage Learning

Quickbooks Online Accounting

Accounting

ISBN:

9780357391693

Author:

Owen

Publisher:

Cengage

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781305084087

Author:

Cathy J. Scott

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

Hosung Company's cash account adjusted ledger balance as of August 31 Accounting 100 chapter 6