AutoSaveOffHDocument2 - WordP Search (Alt+Q)Sign inFileDesignReferencesMailingsReviewViewHelpGrammarlyPicture FormatP CommentsA ShareHomeInsertDrawLayoutP Find -- A A Aa v A= - E - EGTimes New Roman v 12NormalNo SpacingHeading 1Replace= = 1E vEditorOpenGrammarlyPasteBIUI U v - 2. A -ab x, x' A .A Select vUndoClipboard aFontParagraphStylesEditingEditorGrammarlya. At the beginning of the year, Addison Company's assets are $200,000 and its equity is $150,000. During the year, assetsincrease $80,000 and liabilities increase $46,000. What is the equity at year-end?AssetsLiabilitiesEquityBeginning$ 200,000 =150,000Change80,000 =46,000 +EndingPage 1 of 1O wordsText Predictions: On* Accessibility: Good to goO Focus110%9:58 PMP Type here to search49°F3/20/2022近

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LACICIE Prarra a. At the beginning of the year, Addison Company's assets are $200,000 and its equity is $150,000. During the year, assets increase $80,000 and liabilities increase $46,00Ó. What is the equity at year-end? Assets Liabilities Equity Beginning s 20000| Change 80,000 = Ending $ 150,000 46,000

LACICIE Prarra a. At the beginning of the year, Addison Company's assets are $200,000 and its equity is $150,000. During the year, assets increase $80,000 and liabilities increase $46,00Ó. What is the equity at year-end? Assets Liabilities Equity Beginning s 20000| Change 80,000 = Ending $ 150,000 46,000

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 comparative temporary investments and inventory balances of a company follow. Current Year Previous Year Accounts payable $70,725 $61,500 Long-term debt 45,900 51,000 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Amount of Change Increase/Decrease Percentage Accounts payable $ % Long-term debt $ %
Retained earnings at the beginning of the year is $100,000. Total assets are $400,000. Liabilities are $250,000. Net income for the year are $25,000. Dividends are $5,000. What is ending retained earnings? Group of answer choices $120,000 $150,000 $520,000 $270,000
PROBLEM D FINALE INC. operates a service business. Total equity amounted to P6,000,000 at the end of 2020. Based on its 2021 accounting records, FINALE's equity at the end of the year amounted to P10,000,000. Withdrawals equaled 15% of the increase in capital. Investments amounted to 30% of ending equity. Mark-up based on sales is 25%. Tax rate is equal to 20%. A breakdown of business expenses showed the following: general and administrative expense - 1,175,000; selling expense - 725,000; loss on sale of machinery - 25,000; interest income - 15,000; gain on sale of land - 75,000; Interest expense - 20,00o. Identify the required below. Question 38 Net Income After Tax Blank 1 Blank 1 Add your answer
4. PG Merchandising, a general partnership earned a net profit of P98,000 for the calendar year 2020. The capital account of the partners for the year ended December 31, 2020 is shown below: Pinto Capital (Mar 1) P25,000 (Jan 1) P150,000 (Nov 1) P37,000 (Jul 1) 50,000 (Oct 1) 50,000
Assume the company is operating at 85%capacity. The company pays out in dividends 60% of its net income and moves 40% of its net income into retained earnings. ASSETS 2020 2019 CASH AND MARKETABLE SECURITIES ACCOUNTS RECEIVABLE INVENTORIES 29,000 25,000 116,000 100,000 145,000 125,000 290,000 250,000 362,000 350,000 130,000 100,000 232,000 250,000 TOTAL ASSETS 522,000 500,000 CURRENT ASSETS GROSS PLANT AND EQUIPMENT LESS: ACCUMULATED DEPRECIATION NET FIXED ASSETS LIABILİTIES AND EQUITY ACCOUNTS PAYABLE ACCRURALS NOTES PAYABLE 90,480 34,800 25,420 CURRENT LAIBILITIES 150,700 142,000 145,000 140,000 TOTAL LIABILITIES 295,700 282,000 150,000 150,000 76,300 78,000 30,000 34,000 LONG TERM DEBT COMMON STOCK ($1.00 par). RETAINED EARNINGS 68,000 TOTAL OWNER'S EQUITY 226,300 218,000 TOTAL LIABILITIES AND EQUITY 522,000 500,000| INCOME STATEMENT 2020 2019 NET REVENUES & SALES (100,000 UNITS) COST OF GOODS SOLD GROSS PROFIT FIXED OPERATING EXPENSES (pre depreciation) EBITDA Earnings before…
Here is financial information for Carla Vista Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings $ $ $ $ December 31, 2025 2025 $ Prepare a schedule showing a horizontal analysis for 2025, using 2024 as the base year. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) $ CARLA VISTA INC. Condensed Balance Sheets $ $109,200 403,500 102,500 125,200 133,200 $ 151,800 $ December 31, 2024 $93,500 2024 353,200 68,200 93,500 118,200 166,800 $ $ $ $ $ Increase or (Decrease) Amount Percent % % % % % % % % % %
Balance Sheet June 30th, Year 5Assets Liabilities and EquityCash 10,000 Accounts Payable 19,000Accounts receivables 34,000 Wages Payable 4,000Inventory 60,000 Income Tax Payable 1,000Prepaid Insurance 4,000 Notes Payables 80,000Capital Assets 200,000 Common Shares 100,000Accumulated depreciation (40,000) Retained Earnings 64,000Total Assets 268,000 Total Liabilities and Equity 268,000The following are all transactions that happened during Year 6:Made all sales on account of $250,000Collected accounts receivable of $245,000Purchased merchandise on account of $134,000Determined cost of goods sold was $129,900Paid accounts payable (for merchandise purchased) of $143,000Paid wages…
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