Presented below is selected information related to F. Co. on December 31, 2010. F. reports financial information monthly. Office Equipment $10,000, Utilities Expense $ 4,000, Cash 8,000, Accounts Receivable 9,000, Services Revenue 36,000, Wages Expense 7,00O, Rent Expense 11,00O, Notes Payable 16,500, Accounts Payable 2,000. Required :(a) Determine the total assets of F. Co. on December 31, 2010. (b) Determine the net income that F. Co. reported for December 2010. (c) Determine the owner's equity of F. Co. at December 31, 2010

Presented below is selected information related to F. Co. on December 31, 2010. F. reports financial information monthly. Office Equipment $10,000, Utilities Expense $ 4,000, Cash 8,000, Accounts Receivable 9,000, Services Revenue 36,000, Wages Expense 7,00O, Rent Expense 11,00O, Notes Payable 16,500, Accounts Payable 2,000. Required :(a) Determine the total assets of F. Co. on December 31, 2010. (b) Determine the net income that F. Co. reported for December 2010. (c) Determine the owner's equity of F. Co. at December 31, 2010

Name: Presented below is selectedinformation related to F. Co. onDecember 3
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Description: Presented below is selectedinformation related to F. Co. onDecember 31, 2010. F. reportsfinancial information monthly. OfficeEquipment $10,000, Utilities Expense$ 4,000, Cash 8,000, AccountsReceivable 9,000, Services Revenue36,000, Wages Expense 7,0

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Am. 359.
Blythe Industries reports the following account balances: inventory of $417,600, equipment of $2,028,300, accounts payable of $224,700, cash of $51,900, and accounts receivable of $313,900. What is the amount of the current assets? a. $46,700 b. $783,400 c. $56,000 d. $975,000 e. $699,700
The following information (in $ millions) comes from the Annual Report of Saratoga Springs Company for the year ending 12/31/2024: Year ended 12/31/2024 $ 8,139 4,957 2,099 Net sales Cost of goods sold Selling and administrative expense Interest expense Income before taxes Net income Cash and cash equivalents Receivables, net Inventories Land, buildings and equipment at cost, net Total assets Total current liabilities Long-term debt Total liabilities Total stockholders' equity 606 477 648 Profit margin on sales 12/31/2024 $ 1,165 1,200. 1,245 13,690 $ 17,300 $ 5,937 5,781 $ 11,718 $5,582 Required: Compute the profit margin on sales for 2024. Note: Round your answer to 1 decimal place, e.g., 0.1234 as 12.3%. 12/31/2023 $ 83 854 709 4,034 $ 5,680 $ 2,399 2,411 $ 4,810 $ 870
The following balance sheet is for the Ballyhoo Company forfiscal year-end 2014. Please fill in all missingdata. Assets Liabilities and Equity_____________ Cash $4,300 Accountspayable $2,340 Accounts receivable _____ Notespayable 4,300 Inventories 8,200 Accruals 1,620 Total current assets$14,300 Total currentliabs. _____ Gross plant and equip._____ Long-termbonds _____ Less: accum depr. 5,630 Totaldebt $13,100 Net plant and equip. _____ Common stock(100 shares) 6,300 Retainedearnings _____ Total Common equity $13,800 TotalAssets _______ Preferred Stock _____ Total liabs &equity $30,000
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Orange Inc. had the following financial data related to the year ended December 31, 2021. Balance Sheet information As at December 31 2021 2020 Cash $270,040 $138,880 Accounts receivable 136,360 58,800 Inventory 155,250 143,420 Equipment 351,000 (2) 291,000 Accumulated depreciation (65.000) (62.400) S847.650 $569,700 Accounts Payable s106,393 S 80,760 Income Taxes Payable 11,450 10,400 Dividends Payable 33,607 10,000 Bonds Payable 100,000 132,000 Common Shares 282,000 198,000 Retained Earnings 314.200 138.540 S847,650 $569,700 Income Statement For Year ended December 31 Sales $479,892 Cost of goods sold $161,644 Amortization expense 58,800 Other expenses 17,374 Income tax expense 10,185 Interest expense 5,822 Loss on sale of equipment 16,800 (270,625) Net Income $209,267
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