Pronghorn Company had available at the end of 2025 the following information.Pronghorn CompanyComparative Balance SheetsAs of December 31, 2025 and 202420252024Cash$10,090$3,980Accounts receivable20,32012,920Short-term investments21,97029,850Inventory41,66034,950Prepaid rent3,02011,990Prepaid insurance2,10090Supplies1,01075Land123,940175,430Buildings346,530346,530Accumulated depreciation-buildings(104,430)(87,260)Equipment527,070402,150Accumulated depreciation-equipment(131,260)(111,670)Patents44,90050,370Total assets$906,920$869,405 Accounts payable$21,940$32,020Income taxes payable5,0303,960Salaries and wages payable5,0002,980Short-term notes payable10,01010,010Long-term notes payable59,56070,180Bonds payable397,360397,360Premium on bonds payable21,86025,065Common stock237,890220,760Paid-in capital in excess of par-common stock24,84017,470Retained earnings123,43089,600Total liabilities and stockholders' equity$906,920$869,405

Calculating Total Assets:In 2025, the total assets for Pronghorn Company amount to $906,920.In 2024,…

Answered: Pronghorn Company had available at the…

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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Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable 2020 2021 $ 43,500 $48,240 29,625 32,160 Assets 2020 2021 Current assets Cash $ 8,250 $ 12,240 Accounts receivable 34,500 40,560 Inventory 58,500 86,160 Total $101,250 $ 138,960 Total es Long-term debt Owners' equity $ 73,125 $ 80,400 $ 45,000 $ 36,000 Common stock and paid-in surplus $60,000 $60,000 Retained earnings 196,875 303,600 $ Net plant and equipment $273,750 $341,040 Total $ 256,875 363,600 $ Total assets $375,000 480,000 Total liabilities and owners' equity $ $375,000 480,000 Prepare the 2020 and 2021 common-size balance sheets for Just Dew It. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
Brown Company, had the following statements prepared as of December 31, 2020. Brown CompanyComparative Balance SheetAs of December 31, 2020 and 2019 12/31/20 12/31/19 Cash $160,800 $38,400 Accounts receivable 123,200 49,000 investments (available-for-sale) 112,500 57,900 Inventory 90,000 101,000 factory assets 240,000 212,500 Total assets $726,500 $458,800 Accounts payable $100,000 $66,200 mortgage debt 50,000 77,000 accumulated depreciation 30,000 52,000 Common stock 175,000 131,100 Retained earnings 371,500 133,500 Total liabilities and stockholders' equity $726,500 $458,800 Brown CompanyIncome StatementFor the Year Ending December 31, 2020 Sales revenue $440,000…
The 2024 income statement of Adrian Express reports sales of $20,710,000, cost of goods sold of $12,600,000, and net income of $1,980,000. Balance sheet information is provided in the following table. Assets Current assets: Cash Accounts receivable Inventory Long-term assets Total assets ADRIAN EXPRESS Balance Sheets December 31, 2024 and 2023 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity Industry averages for the following four risk ratios are as follows: Gross profit ratio Return on assets Profit margin Asset turnover Return on equity 45% 25% 15% 8.5 35% times 2024 2023 $840,000 $930,000 1,775,000 1,205,000 2,245,000 1,675,000 5,040,000 4,410,000 $9,900,000 $8,220,000 $2,074,000 $1,844,000 2,526,000 2,584,000 2,075,000 2,005,000 3,225,000 1,787,000 $9,900,000 $8,220,000 Complete this question by entering your answers in the tabs below. Required: 1. Calculate the five…
The financial statements for Barrington Service Company include the following items: 2025 2024 $44,500 33,000 52,000 Cash Short-term Investments Net Accounts Receivable. Merchandise Inventory Total Assets Accounts Payable Salaries Payable Long-term Note Payable OA. 0.86 OB. 6.60 OC. 3.82 OD. 1.17 164,000 535,000 126,500 24,000 61,000 $44,000 20,000 56,000 49,000 554,000 128,000 17,000 50,000
The current sections of Vaughn Inc's balance sheets at December 31, 2019 and 2020, are presented here. Vaughn's net income for 2020 was $214,500. Depreciation expense was $48,000. Current assets Cash Accounts receivable Inventory Prepaid expense Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2020 2019 128.000 $126.500 $110,500 100.500 165,500 195,000 50,000 32,500 $470,000 $438.500 $38,000 $16.500 96,500 116,000 $134,500 $132,500 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2020, using the indirect method. (Show amounts that decrease cash flow with either a sign eg-15,000 or in parenthesis eg. (15,000)) VAUGHN INC. Partial Statement of Cash Flows
The top part of Rammy's Incorporated's 2022 balance sheet is listed as follows (in millions of dollars). Current assets: Current liabilities: Cash and marketable securities $ 5 Accrued wages and taxes $ 6 Accounts receivable 15 Accounts payable 10 Inventory 95 Notes payable 50 Total $ 115 Total $ 66 What are Mars, Incorporated's current ratio, quick ratio, and cash ratio for 2022? Multiple Choice 1.74242, 0.30303, 0.07576 7.1875, 1.25, 0.3125 1.43939, 0.30303, 0.07576 19.16667, 3.33333, 0.83333
Stiller Corporation financials for the year of 2018 and 2019. Please review the data and follow the instruction:          Table 7          Stiller Corporation Comparative Balance Sheet (2018-2019) in USD # TEXT 2019 2018 1 Cash $157,000 $78,000 2 Accounts Receivable 180,000 185,000 3 Investments 52,000 74,000 4 Equipment 298,000 240,000 5 Less Accumulated depreciation (106,000) (89,000) 6 Current liabilities 134,000 151,000 7 Common Stock 160,000 160,000 8 Retained Earnings 287,000 177,000 Additional information: Investments were sold at a loss (not extraordinary) of $7,000; no equipment was sold; cash dividends paid were $50,000, and net income was $160,000. Prepare a statement of cash flows for 2019 for Stiller Corporation. Calculate the company’s free cash flow. Assuming the 2019 cash flows grow at the rates of 20%, 18%, 15% in 2020, 2021, and 2022 respectively, and then…
Comparative balance sheet accounts of Riverbed Company are presented below. RIVERBED COMPANYCOMPARATIVE BALANCE SHEET ACCOUNTSAS OF DECEMBER 31 Debit Balances 2020 2019 Cash $69,300 $51,100 Accounts Receivable 154,900 130,000 Inventory 75,600 60,700 Debt investments (available-for-sale) 54,500 85,100 Equipment 70,600 48,100 Buildings 146,000 146,000 Land 40,200 24,700      Totals $611,100 $545,700 Credit Balances Allowance for Doubtful Accounts $10,100 $7,900 Accumulated Depreciation—Equipment 20,900 13,900 Accumulated Depreciation—Buildings 37,300 28,200 Accounts Payable 66,100 60,600 Income Taxes Payable 12,100 10,000 Long-Term Notes Payable 62,000 70,000 Common Stock 310,000 260,000 Retained Earnings 92,600 95,100      Totals $611,100 $545,700 Additional data: 1.…
Laiho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown. Laiho Industries: Balance Sheets as of December 31 (thousands of dollars) 2021 2020 Cash $ 102,785 $ 89,530 Accounts receivable 103,454 85,552 Inventories 39,771 36,287    Total current assets $ 246,010 $ 211,369 Net fixed assets 63,528 40,673 Total assets $ 309,538 $ 252,042 Accounts payable $ 32,604 $ 24,450 Accruals 29,905 21,470 Notes payable 16,454 13,454    Total current liabilities $ 78,963 $ 59,374 Long-term debt 76,373 65,273    Total liabilities $ 155,336 $ 124,647 Common stock 105,000 95,000 Retained earnings 49,202 32,395    Total common equity $ 154,202 $ 127,395 Total liabilities and equity $ 309,538 $ 252,042 The data has been collected in the Microsoft Excel file below. Download the spreadsheet and perform the required analysis…
he current sections of Skysong, Inc.’s balance sheets at December 31, 2021 and 2022, are presented here.Skysong’s net income for 2022 was $152,700. Depreciation expense was $27,600. 2022 2021 Current assets Cash $107,600 $95,900 Accounts receivable 78,400 89,400 Inventory 167,800 172,100 Prepaid expenses 26,800 22,000 Total current assets $380,600 $379,400 Current liabilities Accrued expenses payable $15,800 $8,600 Accounts payable 84,900 95,500 Total current liabilities $100,700 $104,100 Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
The current sections of Larkspur, Inc.’s balance sheets at December 31, 2021 and 2022, are presented here. Larkspur, Inc.’s net income for 2022 was $221,850. Depreciation expense was $39,150. 2022 2021 Current assets Cash $152,250 $ 143,550 Accounts receivable 116,000 129,050 Inventory 243,600 249,400 Prepaid expenses 39,150 31,900 Total current assets $551,000 $553,900 Current liabilities Accrued expenses payable $ 21,750 $ 7,250 Accounts payable 123,250 133,400 Total current liabilities $145,000 $ 140,650 Prepare the net cash provided (used) by operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Bud Caufield Company reported these ratios at December 31, 2021 (dollar amounts in millions): Current ratio = $30 $20 $40 = 1.50 Debt ratio = 0.57 $70 CUNCIL HOUS current ratio LCULIQU debt ratio c. Collected cash from customers in advance, $2 Current ratio = current ratio d. Accrued interest expense, $1. Debt ratio debt ratio Bud Caufield Company completed these transactions during 2022 1 (Click the icon to view the transactions.) Read the requirement. More info debt ratio a. Purchased equipment on account, $9 b. Paid long-term debt, $12 c. Collected cash from customers in advance, $2 d. Accrued interest expense, $1 e. Made cash sales, $11 Current ratio = Debt ratio = current ratio debt ratio e. Made cash sales, $11. Current ratio = Debt ratio = current ratio Print Done ^ - X 11:24 AM 3/31/2024

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