Parker Corporation's owner's equity is $800,000, and total liabilities are $400,000. The company issued $100,000 in additional stock during the year. What are Parker Corporation's total assets? A. $400,000 B. $800,000 C. $1,200,000 D. $1,300,000
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- Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital expenditures of $112,900, cash dividends of $35,800, and average maturities of long-term debt over the next 5 years of $122,300. What is Chasses free cash flow and cash flow adequacy ratio? a. $94,300 and 0.77, respectively c. $130,100 and 1.06, respectively b. $94,300 and 0.82, respectively d. $165,900 and 1.36, respectivelyAssume that as of January 1, 20Y8, Sylvester Con- suiting has total assets of $500,000 and total assets of $150,000. As of December 31, 20Y8, Sylvester has total liabilities of $200,000 and total stockholders’ equity of $400,000. (a) What was Sylvester’s stockholders’ equity as of January 1, 20Y8? (b) Assume that Sylvester did not pay any dividends during 20Y8. What was the amount of net income for 20Y8?During 20X2, Evans Company had the following transactions: a. Cash dividends of 6,000 were paid. b. Equipment was sold for 2,880. It had an original cost of 10,800 and a book value of 5,400. The loss is included in operating expenses. c. Land with a fair market value of 15,000 was acquired by issuing common stock with a par value of 3,600. d. One thousand shares of preferred stock (no par) were sold for 4.20 per share. Evans provided the following income statement (for 20X2) and comparative balance sheets: Required: Prepare a worksheet for Evans Company.
- During 20X2, Norton Company had the following transactions: a. Cash dividends of 20,000 were paid. b. Equipment was sold for 9,600. It had an original cost of 36,000 and a book value of 18,000. The loss is included in operating expenses. c. Land with a fair market value of 50,000 was acquired by issuing common stock with a par value of 12,000. d. One thousand shares of preferred stock (no par) were sold for 14 per share. Norton provided the following income statement (for 20X2) and comparative balance sheets: Required: Prepare a worksheet for Norton Company.If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity is: A. $32,000. B. $(32,000). C. $(8000). D. $8,000.Myers Company provides you with the following condensed balance sheet information. Assets 0000 Liabilities and Stockholders’ Equity Current assets $ 40,000 Current and long-term liabilities 00 $100,000 Equity investments 60,000 Stockholders’ equity 00 00 Equipment (net) 250,000 00Common stock ($5 par) $ 20,000 00 Intangibles $160,000 00Paid-in capital in excess of par 110,000 00 00Total assets $410,000 00Retained earnings 0180,000 $310,000 00 00 0000Total liabilities and stockholders’ equity 00 $410,000 Instructions For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders’ equity. (Each situation is independent.) a. Myers declares and pays a $0.50 per share cash dividend. b. Myers declares and issues a 10% stock dividend when the market price of the stock is $14 per share. c.…
- What is Grey wood Corporation's long term debt on these financial accounting question?Suppose the Schoof Company has this book value balance sheet:Current assets $30,000,000 Current liabilities $10,000,000Fixed assets 50,000,000 Long-term debt 30,000,000Common equityCommon stock(1 million shares) 1,000,000Retained earnings 39,000,000Total assets $80,000,000 Total claims $80,000,000The current liabilities consist entirely of notes payable to banks, and the interest rate on this debt is 10%, thesame as the rate on new bank loans. These bank loans are not used for seasonal financing but instead are partof the company’s permanent capital structure. The long-term debt consists of 30,000 bonds, each with a parvalue of $1,000, an annual coupon interest rate of 6%, and a 20-year maturity. The going rate of interest onnew long-term debt, rd, is 10%, and this is the present yield to maturity on the bonds. The common stocksells at a price of $60 per share.Required:Calculate the firm’s market value capital structure.The balance sheet for Fanning Corporation follows: Current assets $ 247,000 Long-term assets (net) 752,000 Total assets $ 999,000 Current liabilities $ 144,000 Long-term liabilities 452,000 Total liabilities 596,000 Common stock and retained earnings 403,000 Total liabilities and stockholders’ equity $ 999,000 RequiredCompute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio
- Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash $ 81,900 Accounts payable $ 136,000 Accounts receivable 188,000 Bonds payable (long term) 89,500 Inventory 51,200 Long-Term Assets Stockholders' Equity Gross fixed assets $ 555,000 Common stock $ 150,000 Less: Accumulated depreciation 151,000 Paid-in capital 70,000 Net fixed assets* 404,000 Retained earnings 279,600 Total assets $ 725,100 Total liabilities and equity $ 725,100 Sales (on credit) $ 1,255,000 Cost of goods sold 816,000 Gross profit $ 439,000 Selling and administrative expense† 266,000 Depreciation expense 55,500 Operating profit $ 117,500 Interest expense 10,000 Earnings before taxes $ 107,500 Tax expense 96,200 Net income $ 11,300 *Use net fixed assets in computing fixed asset turnover.†Includes $11,700 in lease payments.…Quincy Martin Manufacturing has assets of $5 million and liabilities of $3 million. The company has also issued 400,000 shares of common stock. What is the company's book value per share? Select one: O a. $10.25 O b. $7.50 O c. $5 O d. $2.50 O e. $1.00Sandy Corporation’s balance sheet at January 2, 20x5 is as follows:Sandy-Dr(Cr)Cash and receivables P200,000,000Inventories 600,000,000.00Property, plant and equipment, net 7,500,000,000.00 Current liabilities (400,000,000.00)Long-term debt (7,200,000,000.00)Capital stock (7,200,000.00)Retained earnings (25,000,000.00)Accumulated othercomprehensive income (5,000,000.00) An analysis of Sandy’s assets and liabilities reveals that book values of some reported itemsdo not reflect their market values at the date of acquisition:● Inventories are overvalued by P200,000,000● Property, plant and equipment is overvalued by P2,000,000,000● Long-term debt is undervalued by P100,000,000 On January 2, 20x5, Velasco issues new stock with a market value of P700,000,000 toacquire the assets and liabilities of Sandy. Stock registration fees are P100,000,000, paid incash. Consulting, accounting, and legal fees connected with the merger are P150,000,000,paid in cash. In addition, Velasco enters into an…





