Question 50 of 50Among the items in the financial statements for 20X1, Kadan Company reported theinformation below. (This is not a complete list of all of the financial statement items.)Accounts receivable $200• Inventory $400Property, plant, and equipment $1,000• Accounts payable $100. Long-term loans payable $800• Sales $10,000. Cost of goods sold $7,500.Depreciation expense $250Interest expense $60In 20X2, sales are expected to increase from $10,000 to $13,000. On January 1,20X2, Kadan plans to purchase new property, plant, and equipment, increasing thebalance from $1,000 to $1,500. Also on January 1, 20X2, Kadan plans to obtain newlong-term loans, increasing the loan balance from $800 to $1,600. What is areasonable forecast of the amount of interest expense in 20X2?

Detailed explanation:The changes in the company's long-term loans and the interest expenditure…

Answered: Question 50 of 50 Among the items in…

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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Total Current assets value to be reported in Balance sheet?
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 20Υ2 20Υ1 Retained earnings, January 1 $3,704,000 $3,264,000 Net income $ 600,000 $ 550,000 Dividends: On preferred stock (10,000) (10,000) On common stock (100,000) (100,000) Increase in retained earnings $ 490,000 $ 440,000 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 20Υ1 Sales $ 10,850,000 $10,000,000 Cost of goods sold (6,000,000) (5,450,000) $ 4,850,000 $ (2,170,000) Gross profit $ 4,550,000 Selling expenses $ (2,000,000) Administrative expenses (1,627,500) (1,500,000) Total operating expenses $(3,797,500) $ (3,500,000) Operating income $ 1,052,500 $ 1,050,000 Other revenue and expense:…
jDL Coroproation Selected Financial Data as at december 21,2016 Current asset 2,50,000$ Current Liabilities 1,50,000$ Inventories 60,000$ Accounts Receivable 45,000$ Revenue 9,50,000$ Cost of Good Sold 6,75,000$ Note: Ignore averaging for this question JDL's Quick ratio is: 1 0.8 2.45 1.27 JDL's average collection period is: 8 days 11 days 17 days 20 days JDL's inventory turnover is: 9.50 times 11.25 times 4.50 times 5.43 times JDL's receivables turnover is: 24.34 times 22.56 times 21.11 times 20.11 times
q. 14 teddy’s Pillow’s had beginning net fixed assets of $461 and ending net fixed assets of $530. Assets valued at $309 were sold during the year. Depreciation was $22. What is the amount of net capital spending? $91 $47 $243 $69 $400
Line Item Description 20X1 20X2 Current assets: Accounts receivable $750,000 $582,500 Inventories 300,000 320,000 Current liabilities: Wages payable 700,000 515,000 Davis CompanyIncome StatementFor the Year Ended December 31, 20X2 Line Item Description Amount Amount Revenues $3,000,000 Cost of goods sold 1,920,000 Gross margin $1,080,000 Operating expenses Depreciation 270,000 Operating income $ 810,000 Other revenues and expenses Gain on sale of equipment 100,000 Interest expense 10,000 90,000 Net income $ 900,000 Required: Compute operating cash flows using the indirect method.
A28
Question Content Area Use the information provided for Privett Company to answer the question that follow. Privett Company Accounts payable $30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Temporary investments 36,000 Based on the data for Privett Company, what is the amount of working capital? a.$213,000 b.$153,000 c.$39,000 d.$113,000
1
Cash $59,000 $23,500 Accounts receivable 43,000 25,500 Inventory 50,000 29,500 Prepaid expenses 18,500 34,000 Long-term investments 0 42,000 Equipment 97,500 45,500 Accumulated depreciation—equipment (45,000) (27,500) Total assets $223,000 $172,500 Liabilities and Stockholder's Equity Accounts payable $42,000 $19,500 Bonds payable 48,500 70,000 Common stock 65,000 35,500 Retained earnings 67,500 47,500 Total liabilities and stockholders' equity $223,000 $172,500 Additional information: 1. Net income for the year ending December 31, 2022 was $47,500. 2. Cash dividends of $27,500 were declared and paid during the year. 3. Long-term investments that had a cost of $42,000 were sold for $26,500.…
Camaro GTO Torino Cash $ 2,000 $ 110 $ 1,000 Short-term investments 50 0 580 Current receivables 350 470 700 Inventory 2,600 2,420 4,230 Prepaid expenses 200 500 900 Total current assets $ 5,200 $ 3,500 $ 7,410 Current liabilities $ 2,000 $ 1,000 $ 3,800 Compute the current ratio and acid-test ratio for each of the following separate cases.
Condensed financial data are presented below for the Phoenix Corporation: 20X2 20X1 $ 267,500 312,500 670,000 50,000 825,000 252,500 77,500 1,640,000 982,500 Accounts receivable $230,000 257,500 565,000 60,000 695,000 200,000 Inventory Total current assets Intangible assets Total assets Current liabilities Long-term liabilities 75,000 Sales Cost of goods sold Interest expense 10,000 77,500 127,500 71,000 (6,000) (62,500) Income tax expense Net income Cash flow from operations Cash flow from investing activities Cash flow from financing activities Tax rate 30% The quick ratio for 20X2 is (rounded): (Assume that total current assets include cash, marketable securities, accounts receivable and inventory).
What 20,20,22,23,24

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