If the liabilities of a business increased RM75,000 during a period of time and the owner's equity in the business decreased R30,000 during the same period, the assets of the business must have: a. Decreased RM105,000 b. Increased RM45,000 c. Increased RM30,000 d. Decreased RM45,000
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- D. An entity reported the following information during the first year of operations:Pretax financial income 9,000,000Nontaxable interest received 1,000,000Nondeductible life insurance premiums paid 500,000Long-term loss accrual in excess of deductible amount 1,500,000Tax depreciation in excess of financial depreciation 2,000,000Income tax rate 25%1. What is the current tax expense?2. What is the total tax expense?3. What is the deferred tax liability at year-end?4. What is the deferred tax asset at year-end?If total assets increased P20,000 during a period of time and total liabilities increased by P12,000 during the same period, the amount and direction (increase or decrease) of the period's change in capital is: Choices: a.P32,000, increase b.P32,000, decrease c.P8,000 increase d.P8,000 decrease9. If total assets decreased by RM10,500 and owner's equity increased by RM3,000 during the same period, then the amount and direction of the period's change in total liabilities is A. RM13,500 increase B. RM7,500 decrease c. RM7,500 increase D. RM13,500 decrease
- From the following information for BlueInks Corporation, compute the rate of return on assets. Hint: The numerator is income before interest expense and taxes. Net income $40,878 Total assets at beginning of year $250,100 Total assets at end of year $158,680 a. 15% b. 25% c. 16% d. 20%What is the asset turnover ratio on these general accounting question?15. The net necessary net adjustment involves an adjustment to additional paid in capital in the amount of:
- X Ltd. made a profit of Rs. 1,00,000 after charging Depreciation of Rs. 20,000 on assets and a transfer to General Reserve of Rs. 30,000. The goodwill written off was Rs. 7,000 and the gain on sale of Machinery was Rs. 3,000. The other information available to you (changes in the value of Current Assets and Current Liabilities) is as follows: At the end of the year, Debtors showed an increase of Rs. 6,000; Creditors as the increase of Rs. 10,000; Prepaid Expenses an increase of Rs. 200; Bills Receivable a Decrease of Rs. 3,000; Bills Payable a Decrease of Rs. 4,000 and Outstanding Expenses a Decrease of Rs. 2,000. Ascertain the cash flow from the operating activities. handwritten answers are not allowed ..use tablesNeed help calculating: A. Economic value added and B. Return on Capital1. If current assets amounted to P600,000 and current liabilities amounted to P200,000, what is the current ratio of the entity? *a. P800,000b. P400,000c. 3d. 1/3 3. If net sales is P200,000 and the average accounts receivable is P50,000, what is the accounts receivable turnover ratio? *a. 4b. 1/4c. P150,000d. P250,000 5. If total assets amounted to P800,000 and total liabilities amounted to P200,000, what is the debt to equity ratio? *a. 4b. 0.3333c. 0.25d. 3
- Thomas Company issues spok to new investors. $32.000. Required: What is the effect of this transaction on individual asset accounts, individual liability accounts, the Capital Stock account, and the Retained Earnings account? Check all that apply. Aa asset account ineases An aset ccou decases Alabilay account increases O A lahlity account decreases. Capital Stok increases. O Capital Sock decreases. Retained Earminggs increase ORetained Eamings decrease. Clear Undo Help Neat I dont knowWhat is the current liabilities on this financial accounting question?Consider the following financial information and answer the questionsthat follow:Sales : $250,000Costs : $134,000Depreciation : $10,200Operating expenses : $6,000Interest expenses : $20,700Taxes : $18,420Dividends : $10,600Addition to Retained Earnings : $50,080Long term debt repaid : $9,300New Equity issued : $8,470New fixed assets acquired : $15,000 Calculate change in NWC