Question: 1 FK Itd disclosed some accounts as following. Cash 30,000 9,000 Equipment &Furniture 70,000 1,500 Prepaid Rent 12,000 Prepaid insurance 10,000 depreciation-furniture 15,000 Unearned Revenue 17,000 Receivable 30,500 Instruction: Prepare current asset section from the accounts given above. Accounts Payable Inventory Accumulated Accounts

Question: 1 FK Itd disclosed some accounts as following. Cash 30,000 9,000 Equipment &Furniture 70,000 1,500 Prepaid Rent 12,000 Prepaid insurance 10,000 depreciation-furniture 15,000 Unearned Revenue 17,000 Receivable 30,500 Instruction: Prepare current asset section from the accounts given above. Accounts Payable Inventory Accumulated Accounts

Name: Question: 1 FK Itd disclosed some accounts as following.Cash 30,0009,
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Description: Question: 1 FK Itd disclosed some accounts as following.Cash 30,0009,000Equipment &Furniture 70,0001,500Prepaid Rent 12,000Prepaid insurance 10,000depreciation-furniture 15,000Unearned Revenue 17,000Receivable 30,500Instruction: Prepare current asse

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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! Required information Problem 12-6A (Algo) Use ratios to analyze risk and profitability (LO12-3, 12-4) [The following information applies to the questions displayed below.] Income statements and balance sheets data for Virtual Gaming Systems are provided below. Net sales Cost of goods sold Gross profit Expenses: VIRTUAL GAMING SYSTEMS Income Statements For the Years Ended December 31 2025 $3,495,000 2,477,000 1,018,000 Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income 952,000 27,000 16,500 7,700 1,003, 200 14,800 2024 $3,021,000 1,947,000 1,074,000 855,000 25,500 7,700 13,500 46,500 948, 200 125,800
Preparing Financial Statements: *Income Statement *Statement of Change in Owner's Equity *Statement of Financial Position *Cash Flow Statement
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Instructions: complete Pages 1 - 2 prior to class Listed below are balance sheet accounts. Identify what balance sheet section the account belongs in: Current Assets Current Liabilities Long Term Investments Property Plant and Equipment Intangibles Long-term liabilities Stockholders' Equity Account Amount Balance Sheet Section Accounts Payable 5,000 Accounts Receivable 5,000 Accum. Depreciation Bonds Payable 20,000 50,000 Cash 20,000 25,000 Common Stock Copyrights Discount on Bonds Payable 30,000 2,500 Inventory 1,000 Investments (long term) 25,000 Machinery 100,000 Marketable Securities 15,000 75,000 PIC in Excess of Par CS Prepaid Insurance Retained Earnings 3,000 23,500 Unearned Fees 1,000 Wages Payable 2,000 Calculate: Current Assets Long Term Investments Property Plant and Equipment Intangibles Total Assets Current Liabilities Long-term liabilities Total Liabilities
Question Content Area Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $33,234 Accounts receivable 67,995 Accrued liabilities 6,510 Cash 22,738 Intangible assets 35,347 Inventory 83,390 Long-term investments 101,069 Long-term liabilities 79,156 Notes payable (short-term) 27,161 Property, plant, and equipment 689,074 Prepaid expenses 2,037 Temporary investments 30,842 Based on the data for Harding Company, what is the quick ratio (rounded to one decimal place)? a.3.1 b.0.8 c.1.8 d.15.4
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
calc total assets The following information applies to questions 24-26: The following items were obtained from the records of ABC Limited for the year ended Item $000's Item $000's Accounts payable 90 Accounts receivable 97 Accrued expenses 13 Accumulated depreciation 104 Cash 26 Cost of goods sold 129 Depreciation expense General & admin expense 10 19 Interest expense 8 Inventory 89 Non-current liabilities 63 Notes payable 29 Property plant & equipment 608 Sales 320 Tax 51 Tax payable 54 Total assets at 30 June 2019 is: O a. $737,000 O b. $633,000 O c. $716,000 O d. $820,000
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QUESTION : " The balance sheet of Lara Ltd are as follows: 31/12/2019 Non-Current Assets RM RM RM Equipment (Cost) Less: Accumulated depreciation 28,500 (11,450) 17,050 Current Assets 18,570 Inventory Account receivable 8,470 Less: Provision doubtful debts (420) 8,050 4,060 30,680 Cash and bank Total Assets Current Liabilities Account Payable 4,140 Non-Current Liabilities Loan 10,000 Total Liabilities (14,140) 16,540 Net Assets 33,590 Capital Opening Add: Net profit 35,760 10,240 Cash introduced Less: Drawing Total Capital (12,410) 33,590 31/12/2020 Non-Current Assets RM RM RM Equipment (Cost) Less: Accumulated depreciation 26,100 (13,010) 13,090 Current Assets 16,250 Inventory Account receivable 14,190 Less: Provision doubtful debts (800) 13,390 3,700 33,340 Cash and bank Total Assets Current Liabilities Account Payable 5,730 Non-Current Liabilities Loan 4,000 23,610 36,700 Total Liabilities (9,730) Net Assets
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Click on the icons located on the top-right corners of the data tables below to copy their contents into a spreadsheet. Income Statement Balance Sheet Sales $202,590 Assets Cash and Equivalents Accounts Receivable Costs Except Depreciation $14,950 (99,910) $102,680 EBITDA 1,980 (5,940) $96,740 4,100 $21,030 Depreciation Inventories EBIT Total Current Assets Property, Plant, and Equipment Interest Expense (net) (490) 9,990 Pre-tax Income $96,250 Total Assets $31,020 (33,688) $62,562 Income Tax Liabilities and Equity. Accounts Payable Net Income $1,550 4,080 $5,630 Debt Total Liabilities Stockholders' Equity Total Liabilities and Equity 25,390 $31,020 For the next fiscal year, you forecast net income of $49,600 and ending assets of $508,300. Your firm's payout ratio is 10.6%. Your beginning stockholders' equity is $299,900, and your beginning total liabilities are $120,400. Your non-debt liabilities such as accounts payable are forecasted to increase by $10,400. Assume your beginning…