P5-2 (LO3) EXCEL (Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc., for the current year, 2017. elanA awol rles to tnamsisi2 lo noldssgar T5Yo lo bns bns gm $ 125,000 177,591 300,000 15,000 Accumulated depreciation-equipment Inventory Rent payable (short-term) $ 292,000 239,800 45,000 Goodwill Payroll taxes payable Bonds payable Discount on bonds payable enne Income taxes payable 98,362 480,000 200,000 a 150,000 Rent payable (long-term) Common stock, $1 par value Preferred stock, $10 par value Prepaid expenses Equipment Debt investments (trading) 360,000 480,000 Cash Land Notes receivable 445,700 265,000 490,000 E Notes payable (to banks) Accounts payable Retained earnings 87,920 1,470,000 121,000 270,200 1,640,000 000 97,630 08A Accumulated depreciation-buildings 1,600,000 Income taxes receivable Notes payable (long-term) Buildings Instructions Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same.

P5-2 (LO3) EXCEL (Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc., for the current year, 2017. elanA awol rles to tnamsisi2 lo noldssgar T5Yo lo bns bns gm $ 125,000 177,591 300,000 15,000 Accumulated depreciation-equipment Inventory Rent payable (short-term) $ 292,000 239,800 45,000 Goodwill Payroll taxes payable Bonds payable Discount on bonds payable enne Income taxes payable 98,362 480,000 200,000 a 150,000 Rent payable (long-term) Common stock, $1 par value Preferred stock, $10 par value Prepaid expenses Equipment Debt investments (trading) 360,000 480,000 Cash Land Notes receivable 445,700 265,000 490,000 E Notes payable (to banks) Accounts payable Retained earnings 87,920 1,470,000 121,000 270,200 1,640,000 000 97,630 08A Accumulated depreciation-buildings 1,600,000 Income taxes receivable Notes payable (long-term) Buildings Instructions Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

What is the current ratio? I got 7.2:1
Statement of Profit and Loss and Other Comprehensive Income for the years ended 31 December 2024 2023 R'000 R'000 Turnover 1287052 934052 Operating Profit 137342 81768 Net Finance Cost 39264 20862 Operating Profit before taxation 98078 60906 Income tax expense 7027 3048 Profit for the Year 91051 57858 3502 2237 Operating profit includes Depreciation and loss on sale of fixed asset 5/12 Required: a) Prepare the cash flows from operating activities for the company for 2024 using the available information (10 Marks) b) Perform a financial review of the company based on calculating the following financial ratios and explain how it may be interpreted. Debt equity ratio Times interest earned Current ratio Debtors average collection period Inventory turnover Your answer should include an overall assessment of the company (25 Marks) c) List the audit steps to verify the existence of inventory (10 Marks)
($n millions) Net soles Cost of goods sold Depreciation Earnings before interest and taxes Interest paidl Taxable incone 7,010 470 $1,320 165 $1,214 425 Taxes Net. incone $789 windswept, Inc. 2016 and 2017 Balance sheets, ($ in nillions) 2016 2017 2016 2017 Cash Accounts re. Inventory Total Net fixed 33sets Accounts payable Long-tera debt, Conmon stock Retained earnings $240 S 270 $1,410 $1,410 1,110 1,318 1,820 920 1,848 1,710 3,368 3,280 658 3,430 4,008 Total assets $6,530 S6,9 Total 11ab. & equity $6,530$6.988
Pro Forma Financial Statement Information for Ideko 2014 - 2019 Year 1. Raw Material 2. Depreciation 3. Wages Payable 4. Interest Expense 5. Finished Goods 6. Other Accounts Payable 7. Accounts Receivable 8. Cash Balance 10. Interest Tax $22,170 $30,510 $35,195 $26,420 $21,260 2014 1,973 5,500 1,294 75 4,192 3,360 18,493 6,164 3,736 2015 1,534 5,450 1,433 6,800 4,967 4,099 14,525 7,262 2,796 2016 1,775 5,405 1,695 6,800 5,838 4,953 16,970 8,485 3,364 2017 2,039 6,865 1,941 6,800 6,815 5,938 19,689 9,845 3,748 The amount of net working capital for Ideko in 2017 is closest to: 2018 2,329 7,678 2,211 7,820 7,911 6,900 22,709 11,355 4,513 2019 2,646 7,710 2,570 8,160 9,138 7,878 26,059 13,030 5,678
The following information relates to Roland Limited as at 30 June 2023: 0.14:1 The quick ratio is: Select the one correct answer: 9:1 2:1 Total current assets Total assets Current liabilities Total liabilities O 14:1 Inventories Prepayments $'000s 2,200 10,000 1,100 2,400 2,000 45
Genatron Manufacturing Corporatio Balancs Sh出出t 2017 216 ASSETS Cach $41,752 $51,878 Accts. recelvable 260, 499 200,543 Inventory 450,460 Total current assets B02, 735 702,181 Fixed asset, nct 300, 100 $1,202, 735 $1,002, 381 LIABILITIES AND EQUITY Accts. paysble $172,648 $131,068 Bank loan 91,013 91,013 Accrusis 70,000 50, 000 Total current Isbllties 333,661 272.081 Long-term deot, 12% 398,220 290,301 Common stock, $10 par 300,000 Capital surplus 44,555 44,555 Retained crninga 126,299 95,444 Total liabiliiti &oulty 51.202,735 51,002,381 2017 2016 Net sales Cost of peocS So0 388,411 Gross profit E72.274 Experses: General ancasm nistrative 50.000 Market ng cod ost rer cs 44.5E5 Ceprec at cn v (a) Calculate Genatron's dollar amount of net working capital in each year. Interest E5.024 Earnings tetsre taxes 267.055 227.266 2017 2016 Incometaxes 75 145 Net working capital et ncome %24
Please do not give solution in image format thanku
Calculate the asset efficiency - receivables turnover ratio, inventory turnover ratio, fixed asset turnover ratio and total asset turnover ratio.
Please Do not Give image format
Please use the following information for the year ended 12/31/2021 for Clare & Co. International to answer the question Revenue COGS Selling Expenses Depreciation Net Income Long Term Assets Non-Cash Working Capital Long Term Debt O $119,000,000 O $118,000,000 O $98,000,000 What is Free Cashflow to Equity for 2021 O $340,680,000 $ 200,000,000 $ 60,000,000 $ 20,000,000 $ 10,000,000 $ 110,000,000 12/31/2021 $ 420,000,000 $ 6,000,000 $ 30,000,000 12/31/2020 $415,000,000 $ 5,000,000 $25,000,000
1.Presented below are the financial statements of KJ Electronics KJ Electronics Inc. Comparative Balance Sheets September 30 Assets 2021 2020 Current Assets Cash $92000 $42980 Short Term Investments 29500 22500 Accounts Receivable 56900 22300 Inventory 102,300 90220 Long Term Assets Long term Investments 96,300 103000 Equipment 198,000 215000 Accumulated depreciation- equipment (50000) (48000) Total $525,000 $448,000 Current Liabilities Accounts Payable $85,300 $30200 Accrued Expenses payable 26700 15000 Long Term Liabilities Bonds Payable 97,300 79,570 Stockholders’ Equity Common Stock 150,000 165500 Retained Earnings 165,700 157,730 Total $525,000 $448,000 KJ Electronics Inc. Income Statement For the Year Ended September 30, 2021 Sales Revenue Less: Sales Returns and Allowances Net…
Prepare Amount increase or decrease and Percentage?