Practice 1. solve for the Efficiency of the Given Company aple Company Statement of Financial Position as of December 31, 2014 ASSETS LIABILITIES AND STOCKHOLDERS' EQUITY Cash P 120,000.00 Accounts Payable P 70,000.00 Marketable Securities P 35,000.00 Short-term notes P 55,000.00 Accounts Receivable P 45,000.00 Current Liabilities P 125,000.00 Inventories P 130,000.00 Long-term debt P 2,700,000.00 Current Assets P 330,000.00 Total Liabilities P 2,825,000.00 Equipment P 2,970,000.00 Common stock P 500,000.00 Buildings P 1,600,000.00 Retained earnings P 1,575,000.00 Fixed Assets P 4,570,000.00 Stockholders' equity P 2,075,000.00 Total Assets P 4,900,000.00 Total liabilities and equity P 4,900,000.00 Sample Company Statement of Financial Performance for the Year Ended December 31, 2014 Sales Revenue P 2,000,000.00 Cost of Sales/Service P (1,300,000.00) Gross Margin P 700,000.00 Operating Expenes P (199,000.00) Operating Profit P 501,000.00 Other Income P 5,000.00 Other Expenses P (2,800.00) Net Income before Tax P 503,200.00 P (150,960.00) Income Tax P 352,240.00 Net Income after Tax
Practice 1. solve for the Efficiency of the Given Company aple Company Statement of Financial Position as of December 31, 2014 ASSETS LIABILITIES AND STOCKHOLDERS' EQUITY Cash P 120,000.00 Accounts Payable P 70,000.00 Marketable Securities P 35,000.00 Short-term notes P 55,000.00 Accounts Receivable P 45,000.00 Current Liabilities P 125,000.00 Inventories P 130,000.00 Long-term debt P 2,700,000.00 Current Assets P 330,000.00 Total Liabilities P 2,825,000.00 Equipment P 2,970,000.00 Common stock P 500,000.00 Buildings P 1,600,000.00 Retained earnings P 1,575,000.00 Fixed Assets P 4,570,000.00 Stockholders' equity P 2,075,000.00 Total Assets P 4,900,000.00 Total liabilities and equity P 4,900,000.00 Sample Company Statement of Financial Performance for the Year Ended December 31, 2014 Sales Revenue P 2,000,000.00 Cost of Sales/Service P (1,300,000.00) Gross Margin P 700,000.00 Operating Expenes P (199,000.00) Operating Profit P 501,000.00 Other Income P 5,000.00 Other Expenses P (2,800.00) Net Income before Tax P 503,200.00 P (150,960.00) Income Tax P 352,240.00 Net Income after Tax
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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