Post-Closing Trial BalanceDecember 31, Year 1Account TitlesDebitCreditCommon stock$ 45,000 (Prepaid rent13,000Supplies280Accounts receivable45,000Accounts payable1,700Cash39,900Unearned revenue12,000Salaries payable3,600Accounts payable45,000Retained earnings35,880000Totals$ 98,180143,180Statement of Cash FlowsFor the Year Ended December 31, Year 1S76,500Cash flows from operating activitiesReceived from customersPaid for expenses47.40029,100Net cash flow from operating activitiesCash flows from investing activities$0009Net cash flow from investing activitiesCash flows from financing activitiesSNet cash flow from financing activitiesPlus: Beginning cash balanceS0 ☑0 ☑076,500

Analysis of the data you've given and pointing out some observations and potential issues. 1.…

Answered: Post-Closing Trial Balance December 31,…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 17E

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Category Prior Year Current Year Accounts payable 3,159.00 5,955.00 Accounts receivable 6,974.00 8,952.00 Accruals 5,771.00 6,100.00 Additional paid in capital 19,965.00 13,214.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,509.00 18,563.00 Current portion long-term debt 500 500 Depreciation expense 1,044.00 984.00 Interest expense 1,285.00 1,168.00 Inventories 3,015.00 6,719.00 Long-term debt 16,894.00 22,766.00 Net fixed assets 75,882.00 73,989.00 Notes payable 4,022.00 6,500.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,811.00 34,391.00 Sales 46,360 45,993.00 Taxes 350 920 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places. unanswered not_submitted Attempts Remaining: Infinity
Find earnings per share 2019
A. Belowis the Statement of Firancial Position of QM General Merchandise: Increase (Decrease) 2019 2020 Percentage P 192,375 937,508 152,618 P1,282,500 P1,392,750 P 265,500 968,500 159,750 Curent Assets Property, Plant, and Equipment Other Assets Total Assets Liabilities |Total Current Liabilities Long-term debt Owner's Capit al Total Liabilities and Equity P 220,590 491,198 570,713 P1,282,500 P1,392,750 P 225,450 460,250 706,950 Requirements: Prepare a horizontal aralysis for QM General Merchandise.
TRIAL balance dated Dec 31, 2019 MUSIC-IS-US, INCTRIAL BALANCEDECEMBER 31, 2018 cash …………………………………………………. $ 45,000Marketable securities…………………………. 25,000 Accounts receivable…………………………… 125,000Allowance for doubtful accounts………… $5,000Merchandise inventory……………………….. 250,000Office supplies................................................... 1,200Prepaid insurance…………………………………… 6,600 Building and fixtures…………………………… 1,791,000 Accumulated depreciation………………………. 800,000 Land…………………………………………………... 64,800Accounts payable…………………………………… 70,000Unearned customer deposits…………………… 8,000Income taxes payable………………………………. 75,000Capital stock…………………………………………. 1,000,000Retained…
TRIAL balance dated Dec 31, 2019 MUSIC-IS-US, INCTRIAL BALANCEDECEMBER 31, 2018 cash …………………………………………………. $ 45,000Marketable securities…………………………. 25,000 Accounts receivable…………………………… 125,000Allowance for doubtful accounts………… $5,000Merchandise inventory……………………….. 250,000Office supplies................................................... 1,200Prepaid insurance…………………………………… 6,600 Building and fixtures…………………………… 1,791,000 Accumulated depreciation………………………. 800,000 Land…………………………………………………... 64,800Accounts payable…………………………………… 70,000Unearned customer deposits…………………… 8,000Income taxes payable………………………………. 75,000Capital stock…………………………………………. 1,000,000Retained…
Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 428,571.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,035.00 Interest expense 40,500 42,155.00 Inventories 279,000 288,000 Long-term debt 339,577.00 401,377.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,171.00 Retained earnings 306,000 342,000 Sales 639,000 849,094.00 Taxes 24,750 47,192.00 What is the current year's entry for long-term debt on a common-sized balance sheet? (ROUND TO 4 DECIMAL PLACES.)
Item Prior year Current year Accounts payable 8,112.00 7,889.00 Accounts receivable 6,029.00 6,526.00 Accruals 981.00 1,445.00 Cash ??? ??? Common Stock 10,050.00 11,831.00 COGS 12,659.00 18,136.00 Current portion long-term 5,054.00 5,053.00 debt Depreciation expense 2,500 2,814.00 Interest expense 733 417 Inventories 4,101.00 4,816.00 Long-term debt 14,355.00 13,032.00 Net fixed assets 51,776.00 54,131.00 Notes payable 4,395.00 9,850.00 Operating expenses (excl. 13,977 depr.) 18,172 Retained earnings 28,273.00 29,816.00 Sales 47,524 Taxes 2,084 2,775 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.
Un=nttps%253A%252F%252Flms.mheducation.com%252F... Pa hapter 16, 17, 18) 6 Saved Help Save & Exit Submit The shareholders' equity section of Time Company's comparative balance sheets for the years ended December 31, 2021 and 2020, reported the following data: ($ in millions) 2021 2020 $600 300 600 $612 Common stock, $1 par per share Paid-in capital-excess of par Retained earnings 348 628 During 2021, Time declared and paid cash dividends of $90 million. The company also declared and issued a small stock dividend. No other changes occurred in shares outstanding during 2021. What was Time's net income for 2021? Multiple Choice $28 million $130 million $118 million Next 30 of 39 < Prev Question no...pages nages
COMPARATIVE BALANCE SHEET S OF DECEMBER 31,2020 AND 2019 $1,800 1,750 1,600 $1,150 1,300 1,000 1,700 (1,170) 1,420 Cash Recetvables Inventory Plant assets (1,200 ) 1,300 $7,150 Accumulated depreclatlon Long-term Investments (held-to-maturity) $6,300 Accounts payable Accrued llabilitles 200 250 Bonds payable 1,400 1,550 Common stock 1,700 Retained eamings 2,450 $7,150 $6,300 PAT METHENY COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 $5,900 4,200 sales revEnue Pjos spoo6 jo j50 Selling and administrative expenses Income fron operations 930 1,270 Other revenues and gains Gain on sale of Investrments Income befare tax 1,350 Income tax expense 540 Net incoE Cash dy deds 266 Income retained In business Add tional information:
Vertical Analysis of Balance Sheet Balance sheet data for a company for the years ended December 31, 20Y2 and 20Y1, are shown below. 20Y2 20Υ1 Current assets $ 752,000 $ 602,000 Property, plant, and equipment 6,248,000 5,397,000 Intangible assets 1,000,000 1,001,000 Current liabilities 504,000 427,000 Long-term liabilities 1,504,000 1,197,000 Common stock 1,248,000 1,253,000 Retained earnings 4,744,000 4,123,000 | Prepare a comparative balance sheet for 20Y2 and 20Y1, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. Round your answers to one decimal place. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 Amount 20Y2 Percent 20Y1 Amount 20Y1 Percent Assets Current assets $752,000 % $602,000 % Property, plant, and equipment 6,248,000 5,397,000 Intangible assets 1,000,000 1,001,000
Prior Year Current Year Accounts payable 3,153.00 5,915.00 Accounts receivable 6,935.00 9,046.00 Accruals 5,794.00 6,085.00 Additional paid in capital 19,655.00 13,876.00 Cash. ??? ??? Common Stock 2,850 2,850 COGS 22,169.00 18,794.00 Current portion long-term debt 500 500 Depreciation expense 1,016.00 1,037.00 Interest expense 1,276.00 1,138.00 Inventories 3,041.00 6,672.00 Long-term debt 16,904.00 22,546.00 Net fixed assets 75,987.00 73,861.00 Notes payable 4,002.00 6,534.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,536.00 34,724.00 Sales 46,360 45,799.00 Taxes 350 920 Category ww What is the firm's total change in cash from the prior year to the current year?
Item Prior year Current year Accounts payable 8,198.00 7,775.00 Accounts receivable 6,030.00 6,768.00 Accruals 1,007.00 1,602.00 Cash ??? ??? Common Stock 10,168.00 12,293.00 COGS 12,621.00 18,231.00 Current portion long-term 4,953.00 5,046.00 debt Depreciation expense 2,500 2,756.00 Interest expense 733 417 Inventories 4,136.00 4,819.00 Long-term debt 14,434.00 13,704.00 Net fixed assets 50,920.00 54,636.00 Notes payable 4,385.00 9,940.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,358.00 30,071.00 Sales 35,119 47,773.00 Тахes 2,084 2,775 What is the firm's total change in cash from the prior year to the current year? Submit Answer format: Number: Round to: 0 decimal places.

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