Question: Sunday Company reports the following information on December 31, 2014: Cash $20,000 Accounts receivable 112,000 Accounts payable 91,000 Accrued wages payable 6,000 Unearned revenue 2,000 Paid-in capital 59,000 Retained earnings 80,000 Inventory 30,000 Prepaid rent 4,000 Equipment (net) 12,000 What are total assets at December 31, 2014?
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- Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances:Accounts Debit CreditCash $ 11,200Accounts Receivable 34,000Allowance for Uncollectible Accounts $ 1,800Inventory 152,000Land 67,300Buildings 120,000Accumulated Depreciation 9,600Accounts Payable 17,700Common Stock 200,000Retained Earnings 155,400Totals $384,500 $384,500During January 2021, the…Hancock Company reported the following account balancesat December 31, 2027:Sales revenue $97,000Dividends. $11,000Supplies 13,000Accounts payable 41,000Patent $59,000Building Common stock.. $27,000Insurance expense .... $31,000Notes payable .. $39,000Income tax expense $42,000Cash . . $19,000Repair expense ?Copyright $20,000Equipment $14,000Utilities payable. $22,000Inventory $64,000Retained earnings. .. $87,000 (at Jan. 1, 2027)Interest revenue $55,000Cost of goods sold ..... .. $37,000Accumulated depreciation .... $23,000 $34,000Accounts receivable ? Trademark. ... $51,000Calculate the total intangible assets reported in HancockCompany's December 31, 2027 balance sheet. The following additional information is available:1) The note payable listed above was a 4- year bank loan taken out on September 1, 2024.2) The total P - P - E at Dec. 31, 2027 was equal to 75% of the total current liabilities at Dec. 31, 2027. ՄԴ S
- Calculate the profit margin (net income or net profit/total sales)for Rock Castle construction for this fiscal year. What’s the percentageSelected information from the comparative financial statements of AppleVerse Company for the year ended December 31 appears below: 2018 2017 Php Php Accounts receivable (net) 175,000 200,000 Inventory 130,000 150,000 Total assets 1,100,000 800,000 Current liabilities 140,000 110,000 Long-term debt 410,000 300,000 Net credit sales 800,000 700,000 Cost of goods sold 600,000 530.000 Interest expense 40.000 25,000 Income tax expense 60.000 29,000 Net income 150.000 85,000 Net cash provided by operating 220,000 135,000 activities Compute for the Receivables Turnover for 2018. O 2.13 O 4.27 O 5.95 O 3.23Laiho Industries: Balance Sheets as of December 31 (thousands of dollars) 2021 Cash $101,426 2020 $ 89,860 Accounts receivable 101,633 83,682 Inventories 38,056 35,033 Total current assets $241,115 $208,575 Net fixed assets Total assets 70,997 $312,112 44,385 $252,960 Accounts payable Accruals Notes payable Total current liabilities Long-term debt $ 32,241 29,743 16,658 $ 78,642 77,676 $156,318 $ 24,640 22,720 14,048 $ 61,408 65,276 $126,684 Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity 105,500 93,000 50,294 33,276 $155,794 $126,276 $312,112 $252,960
- Consider the following financial data for Terry Enterprises: Balance Sheet as of December 31, 2018 Cash $ 86,000 Accounts payable $ 15,500 Accts. receivable 91,500 Notes payable 93,500 Inventories 65,500 Accruals 19,500 Total current assets $ 243,000 Total current liabilities $ 128,500 Long-term debt 162,500 Net plant & equip. 419,500 Common equity 371,500 Total assets $ 662,500 Total liab. & equity $ 662,500 Statement of Earnings for 2018 Industry Average Ratios Net sales $ 642,500 Current ratio 2.2× Cost of goods sold 482,000 Quick ratio 1.7× Gross profit $ 160,500 Days sales outstanding 44 days Operating expenses 119,500 Inventory turnover 6.7× EBIT $ 41,000 Total asset turnover 0.6× Interest expense 14,500 Net profit margin 7.2% Pre-tax earnings $ 26,500…Accounts Payable$ 46,000 Accounts Receivable23, 800Cash (balance on January 1, 2021)90, 400Cash ( balance on December 31, 2021)78,000Common Stock152, 500 Dividends0Equipment137, 700Income Tax Expense10, 200Interest Expense 29, 600Inventory 17, 300Notes Payable25,000Office Expense 14, 400Prepaid Rent7, 100 Retained Earnings (beginning)6, 800Salaries and Wages Expense35, 800Service Revenue139,800 Utilities Expense25, 200Salaries and Wages Payable9, 000 Other cash flow information: Cash from issuing common stock$ 22,000Cash paid to reacquire common stock24, 500Cash paid for income taxes11, 100Cash paid to purchase long-term assets53, 400Cash paid to suppliers and employees84, 400Cash received from customers139,000 Prepare a statement of retained earnings for 2021.Use the following data: Barry Computer Company Balance Sheet as of December 31, 2014 In thousands of $ Cash 85,775 Accounts payable 171,550 Receivables 669,045 Other current liabilities 257,325 Inventories 446,030 Notes payable 85,775 Total current assets 1,200,850 Total current liabilities 514,650 Net fixed assets 514,650 Long-term debbt 394,565 Common equity 806,285 Total assets 1,715,500 Total liabilities and equity 1,715,500 Barry Computer Company Income Statement For the year ended December 31, 2014 In thousands of $ Sales 2,350,000 COGS Materials 1,081,000 Labour 517,000 Heat, light and power 164,500 Indirect labour 188,000 Depreciation 94,000 Total COGS 2,044,500 Gross profit 305,500 Selling expenses 164,500 General and administrative expenses 47,000 EBIT 94,000 Interest expense 39,457 EBT 54,543 Federal and state income taxes (40%) 21,817 Net income 32,726 Calculate the following ratio for Barry Company. Round your answer to two decimal places. ROIC:
- How to calculate Net Operating Asset from this balance sheet for fiscal year-end 2015 .Consider the following financial data for Nguyen Industries: Statement of Financial Position as of December 31, 2018 Cash $ 232,500 Accounts payable $ 86,500 Accts. receivable 357,500 Short-term bank note 254,000 Inventories 150,500 Accrued wages & taxes 80,000 Total current assets $ 740,500 Total current liabilities $ 420,500 Long-term debt 566,000 Net fixed assets 774,500 Common equity 528,500 Total assets $ 1,515,000 Total liab. & equity $ 1,515,000 Profit & Loss Statement for 2018 Industry Average Ratios Net sales $ 1,894,000 Current ratio 1.4× Cost of goods sold 1,382,500 Quick ratio 1.0× Gross profit $ 511,500 Days sales outstanding 63 days Operating expenses 373,000 Inventory turnover 9.5× EBIT $ 138,500 Total asset turnover 1.5× Interest expense 64,000 Net…Required Information On January 1, 2024, the general ledger of TNT Fireworks includes the following account balances: Accounts Cash Debit Credit Accounts Receivable $ 58,800 25,200 Allowance for Uncollectible Accounts $ 2,300 Inventory 36,480 Notes Receivable (5%, due in 2 years) 13,200 Land 156,000 Accounts Payable Common Stock Retained Earnings 14,900 221,200 51,408 Totals $ 289,680 $ 289,600 During January 2024, the following transactions occur. January 1 Purchase equipment for $19,600. The company estimates a residual value of $1,608 and a six-year service life. January 4 Pay cash on accounts payable, $9,600. January 8 Purchase additional inventory on account, $83,980. January 15 Receive cash on accounts receivable, $22,100. January 19 Pay cash for salaries, $29,900. January 28 Pay cash for January utilities, $16,600. January 30 Firework sales for January total $221,000. All of these sales are on account. The cost of the units sold is $115,500. Information for adjusting entries: a.…