Presented below are selected data from the balance sheet of Julian Company for 2024. The figures are expressed inmillions.Total Current assetsProperty, plant, and equipmentOther assetsTotal Current liabilitiesTotal Long-term debtTotal Stockholders' equitya. Determine the amount of total current assets for Julian's 2024 balance sheet.b. How much of Julian Company is financed by creditors? Also provide the percentage financed by creditors.c. How much of Julian Company is financed by stockholders? Also provide the percentage financed bystockholders.$?$12,325$3,121$1,278$3,646$11,677Question 20Lulu Enterprises began the year with total liabilities of $188,000 and total stockholders equity of $330,000.Using this information, answer each of the following independent questions.a) If Lulu's total assets increased by $50,000 and its total liabilities increased by $20,000 during the year, whatwas the amount of Lulu's stockholders' equity at the end of the year?b) If Lulu's total liabilities decreased by $42,000 and its stockholders' equity decreased by $8,000 during theyear, what was the amount of its total assets at the end of the year?c) If Lulu's total assets remained the same and its stockholders' equity decreased to $297,000 during thewhat was the amount of its total liabilities at the end of the year?year,Question 3For each of the following transactions, indicate whether it increases (I), decreases (D), or has no effect (NE) onthe total dollar amount of each of the elements of the accounting equation. Each box has to be filled with(1/D/NE)Transactionsa. Equipment is purchased for cash.b. Services are provided to customers on account.c. Services are provided to customers in exchange for cash.d. A utility bill was received. Payment has not been made.e. An account payable is paid off.f. Cash is collected on an account receivable.g. Land was purchased in exchange of a loan.h. Advertising bill for the month is paid upon receipt of bill.i. Dividends are paid to stockholders.j Land is acquired by issuing shares of stock to the owner of the land.AssetsLiabilities Stockholders'Equity

“Since you have posted multiple questions, we will provide the solution only to the first question…

Presented below are selected data from the balance sheet of Julian Company for 2024. The figures are expressed in millions. Total Current assets Property, plant, and equipment Other assets Total Current liabilities Total Long-term debt Total Stockholders' equity $? $12,325 $3,121 $1,278 $3,646 $11,677 a. Determine the amount of total current assets for Julian's 2024 balance sheet. b. How much of Julian Company is financed by creditors? Also provide the percentage financed by creditors. c. How much of Julian Company is financed by stockholders? Also provide the percentage financed by stockholders.

Presented below are selected data from the balance sheet of Julian Company for 2024. The figures are expressed in millions. Total Current assets Property, plant, and equipment Other assets Total Current liabilities Total Long-term debt Total Stockholders' equity $? $12,325 $3,121 $1,278 $3,646 $11,677 a. Determine the amount of total current assets for Julian's 2024 balance sheet. b. How much of Julian Company is financed by creditors? Also provide the percentage financed by creditors. c. How much of Julian Company is financed by stockholders? Also provide the percentage financed by stockholders.

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

Allianze Ltd has the following data information as of 30 June 2022: Current assets of $ 6,970 Net fixed assets of $18,700 Current liabilities of $4,570 Long term debts of $9,490. Required: How much is net working capital of the company? Calculate the return on assets of the company given the return on equity is 20%
Presented below is the balance sheet for HHD, Inc., at December 31, 2021. Current assets $ 644,000 533,000 2,308,000 222,000 Investments Property, plant, and equipment Intangible assets Total assets $3,787,000 Current liabilities Long-term liabilities Shareholders' equity $ 444,000 803,000 2,460,000 $3,787,800 Total liabilities and shareholders' equity The captions shown in the summarized statement above include the following: a. Current assets: cash, $161,000; accounts receivable (net), $211,000; inventory, $236,000; and prepaid insurance, $36,000. b. Investments: investment in equity securities, short term, $101,000, and long term, $171,000; and restricted cash, long term, $261,000. c. Property, plant, and equipment: buildings, $1,610,000 less accumulated depreciation, $611,000; equipment, $610,000 less accumulated depreciation, $211,000; and land, $910,000. d. Intangible assets net of amortization: patent, $121,000; and copyright, $101,000. e. Current liabilities: accounts payable,…
Barger Corporation has the following data as of December 31, 2024: Total Stockholders' Equity Total Current Liabilities Total Current Assets $ 36,210 58,200 181,630 Other Assets Long-term Liabilities Property, Plant, and Equipment, Net Compute the debt to equity ratio at December 31, 2024. (Round your answer to two decimal places, X.XX.) = = C $? 45,600 269,640 Debt to equity ratio
Text Predictions: On ABC Inc. Balance Sheet as at December 31, 2015 and 2016 ($ thousands) Current Assets Cash Accounts Receivable Inventory Total Current Assets Fixed Assets Property, Plant & Equipment Less Accumulated Depreciation Property, Plant & Equipment, net Total Assets Liabilities and S/H Equity Current Liabilities Accounts Payable Notes Payable and short-term debt Total Current Liabilities Long-Term Debt Shareholders' Equity Common Shares Paid-In Capital Retained Earnings Total Total Liabilities and S/H Equity ABC Inc. Income Statement for 2015 and 2016 ($ thousands) Revenue Cost of Goods Sold Operating Expenses Depreciation Earnings Before Interest & Taxes (EBIT) Interest Paid Income Before Taxes (EBT) Taxes Paid Net Income (NI) Dividend Accessibility: Investigate 2015 $ 200 450 550 $1,200 2.200 (1.000) 1,200 $2,400 $ 200 0 $ 200 $ 600 300 600 700 $1,600 $2,400 2015 $1,200 700 30 220 S 250 50 $ 200 180 $ 120 $ S 2016 $ 150 425 625 $1,200 2016 $1,450 850 40 200 $360 160 $ 300…
Presented below are data taken from the records of Sheffield Company. December 31,2020 December 31,2019 Cash $15,100 $7,900 Current assets other than cash 85,800 59,800 Long-term investments 10,100 53,000 Plant assets 335,200 214,500 $446,200 $335,200 Accumulated depreciation $20,200 $40,200 Current liabilities 39,600 22,000 Bonds payable 75,800 –0– Common stock 252,800 252,800 Retained earnings 57,800 20,200 $446,200 $335,200 Additional information: 1. Held-to-maturity debt securities carried at a cost of $42,900 on December 31, 2019, were sold in 2020 for $33,600. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $49,600 and were 80% depreciated were sold during 2020 for $7,900. The loss was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the…
Presented below are data taken from the records of Wildhorse Company. December 31,2020 December 31,2019 Cash $15,200 $8,100 Current assets other than cash 84,700 60,600 Long-term investments 10,000 52,900 Plant assets 332,400 215,200 $442,300 $336,800 Accumulated depreciation $20,100 $40,100 Current liabilities 39,600 22,100 Bonds payable 74,800 –0– Common stock 254,500 254,500 Retained earnings 53,300 20,100 $442,300 $336,800 Additional information: 1. Held-to-maturity debt securities carried at a cost of $42,900 on December 31, 2019, were sold in 2020 for $33,600. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $50,500 and were 80% depreciated were sold during 2020 for $8,000. The loss was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the…
The balance sheets for Dual Monitors Corporation and additional information are provided below. DUAL MONITORS CORPORATION Balance Sheets December 31, 2024 and 2023 Assets. Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable. Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional information for 2024: 1. Net income is $91,560. 2. Sales on account are $1,416,800. (All sales are credit sales.) 3. Cost of goods sold is $1,098,500. 2024 $149,560 72,000 92,000 3,700 450,000 760,000 2023 450,000 640,000 (398,000) (238,000) $1,129,260 $1,136,700 $95,400 6,000 8,000 $117,000 89,000 77,000 1,700 $82,000 11,700 4,700 220,000 670,000 148,300 110,000 670,000 239,860 $1,129,260 $1,136,700 Required: 1. Calculate the…
Subject: acounting
The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Wright Company. Additional information from Wright's accounting records is provided also. WRIGHT COMPANYComparative Balance SheetsDecember 31, 2021 and 2020($ in thousands) 2021 2020 Assets Cash $ 116 $ 95 Accounts receivable 136 140 Short-term investment 47 14 Inventory 137 135 Land 102 125 Buildings and equipment 695 530 Less: Accumulated depreciation (193 ) (140 ) $ 1,040 899 Liabilities Accounts payable $ 40 $ 48 Salaries payable 2 6 Interest payable 8 5 Income tax payable 5 10 Notes payable 0 33 Bonds payable 296 230 Shareholders’ Equity Common stock 390 330 Paid-in capital—excess of par 187 165…
The current sections of Crane Inc.’s balance sheets at December 31, 2021 and 2022, are presented here. Crane’s net income for 2022 was $154,700. Depreciation expense was $26,300. 2022 2021 Current assets Cash $102,700 $97,700 Accounts receivable 79,400 90,000 Inventory 168,200 173,000 Prepaid expenses 26,900 22,900 Total current assets $377,200 $383,600 Current liabilities Accrued expenses payable $15,000 $9,300 Accounts payable 84,000 95,600 Total current liabilities $99,000 $104,900 Prepare the operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, using the indirect method
The balance sheets for a company and additional information are provided below. A COMPANY Balance Sheets December 31, 2024 and 2023 2024 2023 Assets Current assets: Cash $160,000 $116,000 Accounts receivable 70,000 88,000 Inventory 91,000 76,000 Investments 3,600 1,600 Long-term assets: Land 440,000 440,000 Equipment 750,000 630,000 Less: Accumulated depreciation (388,000) (228,000) Total assets $1,126,600 $1,123,600 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $95,200 $81,000 Interest payable 5,500 11,600 Income tax payable 7,500 4,600 Long-term liabilities: Notes payable 120,000 240,000 Stockholders' equity: Common stock 660,000 660,000 Retained earnings 238,400 126,400 Total liabilities and stockholders' equity $1,126,600 $1,123,600 Additional information for 2024: Net income is $112,000. Sales on account are $1,382,500. (All sales are credit sales.) Cost of goods…
Here are simplified financial statements for Phone Corporation in 2020: Net sales Cost of goods sold Other expenses INCOME STATEMENT (Figures in $ millions) Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax Taxes (at 21%) Net income Dividends Assets Cash and marketable securities Receivables Inventories Other current assets BALANCE SHEET (Figures in $ millions) Total current assets Net property, plant, and equipment Other long-term assets. Total assets Liabilities and shareholders' equity Payables Short-term debt Other current liabilities Total current liabilities Long-term debt and leases Other long-term liabilities Shareholders' equity Total liabilities and shareholders' equity $ 13,600 4,310 4,162 2,668 $2,460 718 $1,750 368 a. Return on equity (use average balance sheet figures) b. Return on assets (use average balance sheet figures) c. Return on capital (use average balance sheet figures) d. Days in inventory (use start-of-year balance sheet…