Indigo Company has been operating for several years, and on December 31, 2025, presented the following balance sheet.CashReceivablesInventoryPlant assets (net)(a) Current ratio(b)(c)(d)INDIGO COMPANYBalance SheetDecember 31, 2025$40,800 Accounts payable74,700 Mortgage payableThe net income for 2025 was $24,828. Assume that total assets are the same in 2024 and 2025.Compute each of the following ratios. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.)Acid-test ratio88,900209,400$413,800Debt to assets ratioCommon stock ($1 par)Retained earningsReturn on assets%$70,000126,555164,50052,745%$413,800

The ratio analysis is performed to analyze the financial statements of the business on the basis of…

Answered: Indigo Company has been operating for…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The bookkeeper for Geronimo Company has prepared the following balance sheet as of July 31, 2020. Geronimo CompanyBalance SheetAs of July 31, 2020 Cash $ 69,000 Notes and accounts payable $ 44,000 Accounts receivable (net) 40,500 Long-term liabilities 75,000 Inventory 60,000 Stockholders' equity 155,500 Equipment (net) 84,000 $274,500 Patents 21,000 $274,500 The following additional information is provided. 1. Cash includes $1,200 in a petty cash fund and $15,000 in a bond sinking fund. 2. The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $44,000 and (b) allowance for doubtful accounts $3,500. 3. Inventory costing $5,300 was shipped out on consignment on July 31, 2020. The ending inventory balance does not include the consigned goods. Receivables in the amount of $5,300 were recognized on these consigned goods. 4. Equipment had a cost of $112,000 and an accumulated…
Here are the 2018 and 2019 (incomplete) balance sheets for Newble Oil Corp. BALANCE SHEET AT END OF YEAR (Figures in $ millions) Assets 2018 2019 Liabilities and Shareholders' Equity 2018 2019 Current assets $ 315 $ 445 Current liabilities $ 235 $ 245 Net fixed assets 1,250 1,445 Long-term debt 855 970 a&b. What was shareholders' equity at the end of 2018 and 2019? c. If Newble paid dividends of $125 million in 2019 and made no stock issues, what must have been net income during the year? d. If Newble purchased $325 million in fixed assets during 2019, what must have been the depreciation charge on the income statement?
Coronado Inc. had the following balance sheet at December 31, 2019. CORONADO INC.BALANCE SHEETDECEMBER 31, 2019 Cash $ 24,780 Accounts payable $ 34,780 Accounts receivable 25,980 Bonds payable 45,780 Investments 32,000 Common stock 104,780 Plant assets (net) 85,780 Retained earnings 27,980 Land 44,780 $213,320 $213,320 During 2020, the following occurred. 1. Coronado liquidated its available-for-sale debt investment portfolio at a loss of $9,780. 2. A tract of land was purchased for $42,780. 3. An additional $30,000 in common stock was issued at par. 4. Dividends totaling $14,780 were declared and paid to stockholders. 5. Net income for 2020 was $39,780, including $16,780 in depreciation expense. 6. Land was purchased through the issuance of $34,780 in additional bonds. 7. At December 31, 2020, Cash was $74,980, Accounts Receivable was $46,780, and Accounts Payable was $44,780. 2.…
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $51,200. b. Actual sales for October and November and expected sales for December are as follows: October November December Cash sales Sales on account $ 74,200 $ 79,600 $ 83,600 $ 455,000 $ 550,000 $ 673,000 Sales on account are collected over a three-month period as follows: 20% collected in the month of sale, 60% collected in the month following sale, and 18% collected in the second month following sale. The remaining 2% is uncollectible. c. Purchases of inventory will total $346,000 for December. Thirty percent of a month's inventory purchases are paid during the month of purchase. The accounts payable remaining from November's inventory purchases total $177,000, all of which will be paid in December. d. Selling and administrative expenses are budgeted at $473,000…
Allianze Ltd has the following data information as of 30 June 2022: Current assets of $ 6,970 Net fixed assets of $18,700 Current liabilities of $4,570 Long term debts of $9,490. Required: Calculate shareholders’ equity and prepare a balance sheet for the company for the period.
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https://www.republictt.com/pdfs/annual-reports/RFHL-Annual-Report-2022.pdf Financial Reporting Analysis: Use Republic Bank Limited Annual Report 2022 to answer the Questions. a) Evaluate the company’s latest annual financial statements (balance sheet, income statement, and cash flow statement) and comment on the company's financial performance and position. In your response, use the requirements of IAS 1 as a guide. b) Identify and discuss key accounting principles and standards applied in the company’s financial reporting process indicating their reasons for choosing these and how they were applied. Comment briefly on the appropriateness of the choices made given the company’s industry, location and type (e.g. MNC, regional conglomerate, etc.) c) Critically analyze any significant accounting policies and estimates disclosed in the notes to the financial statements. In your answer, indicate whether the company complied with the accounting standards and conventions.
Summary financial information for Gandaulf Company is as follows. Compute the amount and percentage changes in 2022 using horizontal analysis, assuming 2024 is the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45,-45% or parentheses e.g. (45), (45%). Round percentages to 2 decimal places, e.g. 1.25%.) Current Assets Dec. 31, 2022 Dec. 31, 2024 $191,100 $210,000 $ Plant Assets 1,058,600 790,000 Total assets $1,249,700 $1,000,000 $ Increase (Decrease) in 2022 Amount Percent % % %
Planning Wizards, LLC is an event-planning company. Which of the following would be included in the current asset section of a classified balance sheet dated December 31, 2019? a. 15-month certificate of deposit b. Customer advances on New Year's parties c. Last month rent payment (lease expires in 2021) d. Investment in stocks, to be sold in 2020 e. Income tax refund receivable f. Inventory Select one: d, e, and f e and f a, b, c, e, and f a, b, c, d, e, and f b, e, f
Bethesda Mining Company reports the following balance sheet information for 2021 and 2022. Prepare the 2021 and 2022 common-size balance sheets for Bethesda Mining. Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. Current assets Cash Accounts receivable Inventory Total Fixed assets Assets Net plant and equipment Total assets Current liabilities Liabilities and Owners' Equity Accounts payable Notes payable Total Long-term debt Owners' equity BETHESDA MINING COMPANY Balance Sheets as of December 31, 2021 and 2022 2021 % Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity $ $ $ $ $ $ $ $ $ $ 55,526 63,281 121,382 240,189 658,347 898,536 188,922 84,020 272,942 235,000 220,000 170,594 390,594 898,536 % $ % % % $ % $ % $ % % % $ % $ $ % $ % % % 2022 LA LA 70,205 83,639 186,805 340,649 589,778 930,427. 196,611 135,588 332,199 171,750 220,000 206,478 $ 426,478 $…
The assets and liabilities of Snub Services as of March 31, 2020, the end of the current year, and its revenues and expenses for the year ended March 31, 2020 are listed below. The Retained Earnings balance was $10,030 at April 1, 2019, the beginning of the current year. Accounts Payable: $1,620 Accounts Receivable: $8,360 Cash: $27,950 Dividends: $13,130 Equipment: $82,770 Fees Earned: $115,430 Net Income: $ Upon completion of its financial statements for the year ended (and as of) March 31, 2020, Snub Services would report the following amounts: Ending Retained Earnings: $ Land: $58,970 Miscellaneous Expense: $1,960 Office Expense: $6,260 Stock: $98,050 Ending Total Liabilities and Equity: $ Supplies: $3,430 Wage Expense: $22,300
Sweet home Inc., includes the following selected accounts in its general ledger at December 31, screenshot attacahed thanks fas fakope

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Indigo Company has been operating for several years, and on December 31, 2025, presented the following balance sheet. INDIGO COMPANY Balance Sheet