Nicole Corporation's year-end 2019 balance sheet lists current assets of $745,000, fixed assets of $595,000, current liabilities of $541,000, and long-term debt of $695,000. What is Nicole's total stockholders' equity? a. $104,000 b. $1,236,000 c. $1,340,000 d. There is not enough information to calculate the total stockholder's equity.
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- Suppose the Crane Ltd's 2020 financial statements contain the following selected data (in millions). Current assets Total assets Current liabilities Total liabilities NT$3,536.0 31,408.0 3,016.0 16,640.0 Compute the following values. Interest expense Income taxes Net income NT$520.0 (a) Debt to assets ratio. (Round to O decimal places, e.g. 62%.) 1,976.0 4,590.0 (b) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) % timesThe 2021 Balance Sheet of Eighty-Five Ltd. show a total of $100,000 in current assets, which is made up of $35,000 (cash), $15,000 (marketable securities), $20,000 (net receivables) and inventories (that make up the difference). If the company’s current liabilities for the year is $55,000, what is its quick ratio? 1.273. 0.780. 1.000. 1.875.Sunland Co. reports the following information for 2020: sales revenue $753,100, cost of goods sold $520,900, operating expenses $84,600, and an unrealized holding loss on available-for-sale debt securities for 2020 of $51,000. It declared and paid a cash dividend of $11,210 in 2020.Sunland Co. has January 1, 2020, balances in common stock $359,700; accumulated other comprehensive income $90,900; and retained earnings $97,460. It issued no stock during 2020. (Ignore income taxes.)Prepare a statement of stockholders’ equity. SUNLAND CO.Statement of Stockholders’ Equitychoose the accounting period December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020 Total Retained Earnings Accumulated OtherComprehensive Income Common Stock select an item Ending BalanceDividendsBeginning BalanceOther Comprehensive…
- Tamarisk Co. reports the following information for 2020: sales revenue $769,400, cost of goods sold $502,400, operating expenses $88,400, and an unrealized holding loss on available-for-sale debt securities for 2020 of $57,800. It declared and paid a cash dividend of $14,160 in 2020. Tamarisk Co. has January 1, 2020, balances in common stock $365,300; accumulated other comprehensive income $90,400; and retained earnings $91,010. It issued no stock during 2020. (Ignore income taxes.) Prepare a statement of stockholders' equity. TAMARISK CO. Statement of Stockholders' Equity For the Year Ended December 31, 2020 Accumulated Other Total Retained Earnings Comprehensive Income Common StockFlint Inc., a greetlng card company, had the following statements prepared as of December 31, 2020. FLINT INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $6,100 $7,100 Accounts recelvable 62,400 51,000 Short-term debt Investments (avallable-for-sale) 34,700 18,100 Inventory 40,400 60,300 Prepald rent 4,900 4,000 Equipment 154,100 130,600 Accumulated depreclatlon-equlpment (34,900 ) (24,800 ) Copyrights 46,400 49,800 Total assets $314,100 $296,100 Accounts payable $46,500 $40,200 Income taxes payable 4,000 6,000 Salarles and wages payable 8,100 4,100 Short-term loans payable 7,900 10,100 Long-term loans payable 59,600 68,400 Common stock, $10 par 100,000 100,000 Contributed capital, common stock 30,000 30,000 Retalned earnings 58,000 37,300 Total labiles &. stockholders' equlty $314,100 $296,100 FLINT INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020 Sales revenue $339,800 Cost of goods sold 176,500 Gross profit 163,300 Operating expenses…Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Prepare the 2021 combined common-size, common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.)
- Bernard King Co.'s (BKC) balance sheet shows $7150 in long term debt at the end of 2020. BKC paid $730 in interest during 2020 and cash flow to creditors for 2020 was -$850. How much long term debt was on BKC's balance sheet at the end of 2019?Royalbird Co. reports the following information for 2020: sales revenue $762,900, cost of goods sold $518,900, operating expenses $83,600, and an unrealized holding loss on available-for-sale debt securities for 2020 of $53,600. It declared and paid a cash dividend of $13,990 in 2020.Royalbird Co. has January 1, 2020, balances in common stock $366,000; accumulated other comprehensive income $83,700; and retained earnings $92,370. It issued no stock during 2020. (Ignore income taxes.)Prepare a statement of stockholders’ equity.Swifty Co. reports the following information for 2020: sales revenue $768,300, cost of goods sold $516,000, operating expenses $85,000, and an unrealized holding loss on available-for-sale debt securities for 2020 of $60,700. It declared and paid a cash dividend of $12,070 in 2020.Swifty Co. has January 1, 2020, balances in common stock $358,200; accumulated other comprehensive income $88,500; and retained earnings $91,950. It issued no stock during 2020. (Ignore income taxes.)Prepare a statement of stockholders’ equity.
- Diligent Company reported the following account balances on December 31, 2020: Accounts payable - 1,900,000; Bonds payable - 3,400,000; Discount on bonds payable - 200,000; Share dividend payable - 500,000; Withholding taxes payable - 900,000. On December 31, 2000, what total amount should be reported as current liabilities?Sheridan Corporation had the following 2020 income statement. Revenues $95,000Expenses 63,000 $32,000 In 2020, Sheridan had the following activity in selected accounts. Accounts Receivable1/1/20 20,000Revenues 95,00012/31/20 22,100 Write-offs 900Collections 92,000 Allowance for Doubtful AccountsWrite-offs 900 1/1/20 1,200Bad debt expense 1,90012/31/20 2,200 (a) Prepare Sheridan’s cash flows from the operating activities section of the statement of cash flows using the direct method. Sheridan CorporationStatement of Cash Flows-Direct Method (Partial) $ $ (b) Prepare Sheridan’s cash flows from the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Sheridan CorporationStatement of…The income statement of Armenia Corporation for 2020 included the following items: Interest income P2,101,000; Salaries expense 1,650,000; Insurance expense 277,200. The following balances have been excerpted from Armenia Corporation's statements of financial position for the year ended 12/31/2019 and 12/31/2020 respectively. Accrued interest receivable P165,000 P200,200; Accrued salaries payable 92,400 195,800; Prepaid insurance 33,000 24,200; Requirement #2: The cash paid for salaries during 2020 was Choices; P1,753,400 P1,557,600 P1,845,800 P1,546,600
