QS 13-6 Analyzing retained earnings LO²The Retained Earnings account for Callaho Inc. isshown below:Retained Earnings50,000 120,000X300,000(BalanceJan. 1/14)(BalanceDec. 31/14)1. Calculate X.2. What does X represent?3. What caused the debit of $50,000?Page 730

Lets understand the basics. Retained earning is a earning retained over a period of time. In other…

QS 13-6 Analyzing retained earnings LO² The Retained Earnings account for Callaho Inc. is shown below: Retained Earnings 50,000 120,000 (Balance Jan. 1/14) X 300,000 (Balance Dec. 31/14) 1. Calculate X. 2. What does X represent? 3. What caused the debit of $50,000? Page 730

QS 13-6 Analyzing retained earnings LO² The Retained Earnings account for Callaho Inc. is shown below: Retained Earnings 50,000 120,000 (Balance Jan. 1/14) X 300,000 (Balance Dec. 31/14) 1. Calculate X. 2. What does X represent? 3. What caused the debit of $50,000? Page 730

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 14.1BE: Horizontal analysis The comparative accounts payable and long-term debt balances for a company...

See similar textbooks

Similar questions

Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was 82.60 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Retained earnings, January 1........... 3,704,000 3,264,000 Net income.................... 600,000 550,000 Total....................... 4,304,000 3,814,000 Dividends: On preferred stock.............. 10,000 10,000 On common stock............ 100,000 100,000 Total dividends............... 110,000 110,000 Retained earnings, December 31..... 4,194,000 3,704,000 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales..................... 10,850,000 10,000,000 Cost of goods sold......... 6,000,000 5,450,000 Gross profit............... 4,850,000 4,550,00 Selling expenses.......... 2,170,000 2,000,000 Administrative expenses... 1,627,500 1.500,000 Total operating expenses .. 3,797,500 3,500,000 Income from operations ... 1,052,500 1,050,000 Other revenue............ 99,500 20,000 1,152,000 1,070,000 Other expense (interest)... 132,000 120,000 Income before income tax . 1,020,000 950,000 Income tax expense....... 420,000 400.000 Net income............... 600,000 550,000 Marshall Inc. Comparative Balance Sheet December 31,20Y2 and 20Y1 20Y2 20Y1 Assets Current assets: Cash.......................................................... 1,050,000 950,000 Marketable securities........................................... 301,000 420,000 Accounts receivable (net)....................................... 585,000 500,000 Inventories.................................................... 420,000 380,000 Prepaid expenses.............................................. 108,000 20,000 Total current assets.......................................... 2,464,000 2,270,000 Long-term investments............................................ 800.000 800,000 Property, plant, and equipment (net)............................... 5,760,000 5,184,000 Total assets....................................................... 9,024,000 8,254,000 Liabilities Current liabilities.................................................. 880,000 800,000 Long-term liabilities: Mortgage note payable, 6%.............. 200,000 0 Bonds payable, 4%............................................. 3,000,000 3,000,000 Total long-term liabilities.................................... 3,200,000 3,000,000 Total liabilities.................................................... 4,080,000 3,800,000 Stockholders' Equity Preferred 4% stock, 5 par......................................... 250,000 250,000 Common stock, 5 par............................................. 500,000 500,000 Retained earnings................................................. 4,194,000 3,704,000 Total stockholders' equity.......................................... 4,944.000 4,454,000 Total liabilities and stockholders' equity............................. 9,024.000 8,254,000 Instructions Determine the following measures for 20Y2, rounding to one decimal place, including percentages, except for per-share amounts: 1. Working capital 2. Current ratio 3 Quick ratio 4. Accounts receivable turnover 5. Number of days sales in receivables 6. Inventory turnover 7. Number of days sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders equity 14. Return on common stockholders equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield
please make sure the answer is correct 100%
#9 Item Prior year Current year Accounts payable 8,122.00 7,930.00 Accounts receivable 6,011.00 6,556.00 Accruals 1,028.00 1,686.00 Cash ??? ??? Common Stock 11,889.00 11,432.00 COGS 12,613.00 18,213.00 Current portion long-term 4,995.00 4,975.00 debt Depreciation expense 2,500 2,793.00 Interest expense 733 417 Inventories 4,294.00 4,819.00 Long-term debt 13,601.00 13,831.00 Net fixed assets 50,018.00 54,610.00 Notes payable 4,367.00 9,942.00 Operating expenses (excl. 13,977 18,172 depr.) Retained earnings 28,908.00 30,580.00 Sales 35,119 45,307.00 Тахes 2,084 2,775 What is the firm's cash flow from investing? Submit Answer format: Number: Round to: 0 decimal places.
#2 O Category Prior Year Current Year Accounts payable 3,183.00 5,910.00 Accounts receivable 6,961.00 8,937.00 Аccruals 5,792.00 6,126.00 Additional paid in capital 19,508.00 13,160.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,021.00 18,408.00 Current portion long-term debt 500 500 Depreciation expense 954.00 1,047.00 Interest expense 1,251.00 1,157.00 Inventories 3,074.00 6,677.00 Long-term debt 16,716.00 22,802.00 Net fixed assets 75,997.00 74,079.00 Notes payable 4,087.00 6,556.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,313.00 34,427.00 Sales 46,360 45,757.00 Таxes 350 920 What is the firm's cash flow from investing? Submit Answer format: Number: Round to: 0 decimal places.
financial management ch 17 hw question 3
#6 Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500 Additional paid in capital 200,000 216,660 Cash ??? ??? Common Stock @ par value 37,600 42,000 COGS 131,400 179,956.00 Depreciation expense 21,600 22,463.00 Interest expense 16,200 16,482.00 Inventories 111,600 115,200 Long-term debt 135,000 137,146.00 Net fixed assets 379,236.00 399,600 Notes payable 59,400 64,800 Operating expenses (excl. 50,400 68,301.00 depr.) Retained earnings 122,400 136,800 Sales 255,600 338,146.00 Taxes 9,900 19,217.00 What is the current year's entry for long-term debt on a common-sized balance sheet? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))
#8 O Item Prior year Current year Accounts payable 8,100.00 7,786.00 Accounts receivable 6,081.00 6,685.00 Accruals 1,000.00 1,553.00 Cash ??? ??? Common Stock 10,998.00 11,247.00 COGS 12,678.00 18,011.00 Current portion long-term 4,928.00 4,981.00 debt Depreciation expense 2,500 2,774.00 Interest expense 733 417 Inventories 4,250.00 4,824.00 Long-term debt 13,238.00 13,578.00 Net fixed assets 51,887.00 54,423.00 Notes payable 4,300.00 9,879.00 Operating expenses (excl. 13,977 depr.) 18,172 Retained earnings 28,209.00 29,224.00 Sales 35,119 45,333.00 Taxes 2,084 2,775 What is the firm's cash flow from financing? Submit Answer format: Number: Round to: 0 decimal places. unanswered not_submitted Attempts Remaining: Infinity
#10 Item Prior year Current year Accounts payable 8,192.00 7,708.00 Accounts receivable 6,001.00 6,656.00 Accruals 990.00 1,424.00 Cash ??? ??? Common Stock 11,572.00 12,100.00 COGS 12,755.00 18,124.00 Current portion long-term 4,908.00 4,906.00 debt Depreciation expense 2,500 2,795.00 Interest expense 733 417 Inventories 4,157.00 4,813.00 Long-term debt 14,743.00 13,589.00 Net fixed assets 51,715.00 54,037.00 Notes payable 4,358.00 9,905.00 Operating expenses (excl. 13,977 depr.) 18,172 Retained earnings 28,867.00 29,863.00 Sales 35,119 45,665.00 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. unanswered not_submitted Attempts Remaining: Infinity
ов. 2, 3 PR 15-4A Nineteen measures of solvency and profitability f days' bles, 36.5 of Bettancort Inc. common stock was $71.25 on December 31, 2016. Bettancort Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2016 and 2015 2015 2016 $2,400,000 280,000 Retained earnings, January 1.. Add net income for year $2,655,000 300,000 $2,955,000 $2,680,000 Total Deduct dividends: $ 15,000 $ 15,000 On preferred stock On common stock. . Total....... 10,000 10,000 25,000 $2,930,000 25,000 $2,655,000 Retained earnings, December 31 Bettancort Inc. Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Sales. $1,000,000 475,000 $ 525,000 $ 200,000 150,000 $ 350,000 $ 175,000 225,000 $ 400,000 $1,200,000 Cost of goods sold.. Gross profit. Selling expenses Administrative expenses.. Total operating expenses Income from operations 500,000 $ 700,000 $ 240,000 180,000 $ 420,000 $ 280,000 Other income.. 166,000 $ 446,000 Other expense (interest)…
Exercise 13-4 Computing and interpreting common-size percents P2 Compute common-size percents for the following comparative income statements (round percents to one decimal). Using the common-size percents, which item is most responsible for the decline in net income? GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Yr Prior Yr Sales $740,000 $625,000 Cost of goods sold 560,300 290,800 Gross profit Operating expenses Net income 179,700 128,200 $ 51,500 334,200 218,500 $115,700
QS 13-4 (Algo) Horizontal analysis LO P1 Compute the annual dollar changes and percent changes for each of the following accounts. Note: Decreases should be indicated with a minus sign. Round percent change to one decimal place. Short-term investments Accounts receivable Notes payable Percent Change = Short-term investments Accounts receivable Notes payable S Current Year $ 378,398 100,704 0 Prior Year $ 237,313 104,650 91,913 Horizontal Analysis - Calculation of Percent Change Numerator: Current Year 378,398 $ 100,704 0 Prior Year 237,313 104,650 91,913 Denominator: Dollar Change Percent Change %6 %6 %
#5 O Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500 Additional paid in capital 200,000 216,660 Cash ??? ??? Common Stock @ par value 37,600 42,000 COGS 131,400 174,291.00 Depreciation expense 21,600 23,154.00 Interest expense 16,200 16,447.00 Inventories 111,600 115,200 Long-term debt 135,000 137,086.00 Net fixed assets 375,289.00 399,600 Notes payable 59,400 64,800 Operating expenses (excl. depr.) 50,400 61,944.00 Retained earnings 122,400 136,800 Sales 255,600 337,419.00 Taxes 9,900 19,240.00 What is the current year's return on equity (ROE)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) unanswered not_submitted Attempts Remaining: Infinity