If total assets increased by P175,000 during a specific period and liabilities decreased by P10,000 during the same period, the period's change in total owner's equity was Put a parenthesis if it is a decrease*

If total assets increased by P175,000 during a specific period and liabilities decreased by P10,000 during the same period, the period's change in total owner's equity was Put a parenthesis if it is a decrease*

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 1MC: The cumulative effect of an accounting change should generally be reported as an adjustment to the...

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A2 please help.....
2) Ratios Based on the information given in picture #1, complete the following ratios for the last TWO years and indicate whether the trend is favorable or unfavorable. Note percentages and times should be to one decimal place (e.g. 14.8%; 5.8x) Liq./Solv. Ratios Current Yr. Prior Yr. Fav/Unfav. Current Ratio (X) {Total. Current Assets/ Total Current Liabilities} Quick Ratio (X) {Cash + Short term Investments + Current Receivables/ Current Liabilities} Day's Sales Uncollected (days) {Total Accounts Receivables / Sales x 365}
2) Ratios Based on the information given in picture #1, complete the following ratios for the last TWO years and indicate whether the trend is favorable or unfavorable. Note percentages and times should be to one decimal place (e.g. 14.8%; 5.8x) Liq./Solv. Ratios Current Yr. Prior Yr. Fav/Unfav. Current Ratio (X) {Total. Current Assets/ Total Current Liabilities} Quick Ratio (X) {Cash + Short term Investments + Current Receivables/ Current Liabilities} Day's Sales Uncollected (days) {Total Accounts Receivables / Sales x 365}
In horizontal analysis, if an item has a negative amount in the base year, and a positive amount in the following year, no percentage change for that item can be computed. O True O False
The following is an example of Increase (Decrease) Current Year Prior Year Amount Percent Current assets $ 420,000 $ 500,000 $(80,000) (16%) Fixed assets 1,530,000 1,500,000 30,000 2% Oa. net assets analysis Ob. horizontal analysis Oc. marketability analysis Od. regression analysis
A return on assets of 5.15% means that a company is earning: O a. a $5.15 return on every $100 of assets minus liabilities. O b. a $5.15 return on every $100 of total assets. O c. a $5.15 return on every $100 of current assets. O d. a $5.15 return on every $100 invested in long-term assets.
a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place.
To calculate a year-to-year percentage change in any financial statement line item such as sales, you determine the current-year amount and prior-year amount and divide the difference by: A) Total assets B) Net income C) The current year’s amount D) The prior years amount
If accounts receivable increase by R500, inventory increases by R200 and accounts payable increase by R400, net working capital would ... Select one: decrease by R300. a. b. increase by R700. C. increase by R300. Od. remain unchanged. Clear my choice
1. Multiple-Choice: Calculate Company Y's return on assets, to two decimal places, based on the following information for the current year. a) 7.50 b) 9.00 c) 8.18 d) 7.27
The comparative financial statements of Seward, Inc. include the following data: Current Year Prior Year Income Statement Net Sales Revenue $142,000 $112,000 Cost of Goods Sold 61,000 53,000 Operating Expenses Interest Expense 40, 200 33,200 4,700 4,700 Income Tax Expense 6, 200 29,900 5,200 Net Income 15,900 Balance Sheet Current Assets 127,000 107,000 Plant, Property and Equipment, Net Current Liabilities 110,000 117,000 51,000 44,000 49,000 131,000 224,000 49,000 Long-Term Liabilities Shareholders' Equity Total Liabilities & Shareholders' Equity 137,000 237,000 Which of the following would be shown on Seward's horizontal analysis when calculating percentage changes from t current year? Multiple Choice