Question: The 2020 balance sheet of Serena's Sports Gear, Inc., showed long-term debt of $4.5 million, and the 2021 balance sheet showed long-term debt of $5.1 million. The 2021 income statement showed an interest expense of $135,000. What was the firm's cash flow to creditors during 2021? Answer this question

Q: Help

A: Step 1: Calculate total assets: Cash + Inventory + Property, Plant & Equipment.Step 2: Calculate…

Q: What is the net income percentage??

A: To calculate the net income percentage (also known as return on sales or net profit margin), use the…

Q: True solution wanted in this general account questions

A: Step 1: Direct labor rate variance  Direct labor rate variance = Actual hours x (Actual rate -…

Q: Please need answer the general accounting question

A: To calculate the net realizable value (NRV) of Horizon Tech's receivables, use the following…

Q: Compute XYZ Co.'s asset turnover ratio.

A: Explanation of Asset Turnover Ratio:The asset turnover ratio measures how efficiently a company uses…

Q: Financial Accounting MCQ

A: Operational synchronization enhances period matching by ensuring that financial activities are…

Q: Total variable cost per unit?

A: Explanation for a: The formula for calculating variable product cost per unit is as follows:Variable…

Q: given answer general accounting question

A: To calculate the gross profit, subtract the cost of goods sold (COGS) from the sales revenue: Gross…

Q: Need answer

A: Explanation of Financing Activities: These are activities that involve obtaining or repaying…

Q: Please provide solution this general accounting question

A: Step 1: Define Principal Residence Gain ExclusionThe IRS allows a taxpayer to exclude up to $250,000…

Q: General accounting

A: To determine the expected stock price of Nextech Corp immediately after it pays the dividend in one…

Q: ??

A: When evaluating a system, product, or procedure, there are two main approaches:Process-Based…

Q: Statment of the cost of goods manufactured?

A: Step 1:The cost of goods manufactured is the cost of finished goods inventory completed during the…

Q: Please solve for items circuled in RED. Thank you.

A: Step 1: Since retained earnings is a balancing figure, we simply get the difference between the…

Q: Bal Engineering has $60,000 in assets. They also have $25,000 in liabilities and $5,000 in expenses,…

A: Concept of Assets: Assets are resources owned by a business that hold economic value and are…

Q: If you give me wrong answer this financial accounting question I will give you unhelpful rate

A: Step 1: Given Value for Calculation Total Tax Collection = ttc = $2,400Government Transfer and…

Q: Please provide solution this financial accounting question

A: Step 1: Define Cash ReceiptsCash receipts refer to the total cash inflows during a specific period,…

Q: What is the contribution margin ratio for this financial accounting question?

A: Step 1: Define Contribution Margin RatioThe contribution margin ratio (CMR) measures the percentage…

Q: During 2015, the assets of Inspiring Sky increased by $45,000, and the liabilities increased by…

A: To calculate the owner's equity at the beginning of 2015, we can use the accounting equation:…

Q: What is the degree of opereting leverage? General accounting

A: The degree of operating leverage (DOL) measures how a percentage change in sales affects a company's…

Q: HELP

A: Cash flow calculation:1. Net Income: $3,450 2. Retention Rate: 50%- Retained Earnings = $3,450 ×…

Q: What is the estimated variable order filling cost component per order? General accounting

A: To estimate the variable cost per order using the high-low method, we first need to identify the…

Q: Correct answer

A: Step 1:First, calculate the ending inventory in units: Ending inventory (Units) = Beginning…

Q: Stockholders equity? General accounting

A: Explanation: The formula for calculating return on common stockholders' equity is = (Net income -…

Q: Calculate the labor cost

A: The labor cost as a percentage of sales revenue is calculated as follows: Labor cost as % of sales…

Q: What is your capital gain or loss on these financial accounting question?

A: Step 1: Define Capital Gain or LossA Capital Gain or Loss refers to the profit or loss realized from…

Q: Genral account

A: To find the cost of the item, we use the formula: Price = Cost + 60% × Cost This simplifies to:…

Q: Can you please give answer the general accounting question?

A: Step 1: Define Cash Receipts from CustomersCash receipts from customers represent the total cash…

Q: What is the price earnings ratio for eagle corporation?

A: The Price-Earnings (P/E) Ratio is calculated using the formula:P/E Ratio=Earnings per Share…

Q: Sub: general accounting

A: Explanation of Components: Direct Materials Used:This is the cost of raw materials directly used in…

Q: Evergreen Logistics incurred the following costs for a new delivery truck: please answer the…

A: Step 1:The cost of assets includes the purchase price and the cost incurred to bring the assets for…

Q: Financial Accounting Question please provide solution

A: Step 1: Calculation of gross profit for 2021 and 2022Gross Profit = Net Sales Revenue - Cost of…

Q: Answer

A: Resource consumption sequencing affects cost accumulation because the order in which costs are…

Q: Financial accounting question please answer

A: Step 1: Define Trademark AccountThe trademark account includes all costs directly attributable to…

Q: What was the direct labor cost on these general accounting question?

A: Step 1: Define Direct Labor CostDirect labor cost refers to the wages paid to employees who are…

Q: What is the amount of current liabilities ?

A: Explanation: In the given case, we are required to calculate the amount of current liabilities from…

Q: Need answer

A: Detailed explanation:Given data:Sales $ 750,000Net Income $ 50,000 Question: What is the net income…

Q: Correct answer

A: To calculate the Return on Assets (ROA), we use the following formula: ROA = (Net Income) / (Total…

Q: Question

A: Explanation of Contribution Margin: This represents the amount remaining from sales revenue after…

Q: Deer's inventory records for January reflect the following details: On January 1, the beginning…

A: Concept of Beginning Inventory: Beginning inventory refers to the value and quantity of inventory…

Q: Gemini Store has operated with a 30% average gross profit ratio for a number of years. It had…

A: Concept of Gross Profit RatioThe gross profit ratio is a financial metric that represents the…

Q: Dynamics net income for the year?

A: Step 1: Definition of Net IncomeNet income is the surplus of revenues over expenses for a given…

Q: Correct answer

A: To calculate the Return on Equity (ROE), we use the DuPont formula: ROE = Net Profit Margin × Total…

Q: Solve this Accounting problem

A: Explanation of Total Assets: Total assets represent everything a company owns that has economic…

Q: The following items and amounts were taken from Sandhill Inc.'s 2025 income statement and balance…

A: Sandhill Inc                                       Income Statement…

Q: Please answer the financial accounting question

A: Step 1: Define Price-Earnings (P/E) RatioP/E Ratio The price-earnings ratio is a valuation metric…

Q: Please provide answer this general accounting question

A: To allocate the $60,000 payment to the building, we need to calculate the proportion of the total…

Q: General accounting question

A: Step 1: Define IncomeIncome is a term used to describe the amount remaining after paying various…

Q: None

A: To calculate the requested components, we will use the provided information on price, freight-in,…

Q: General accounting

A: Calculation of EBIT (Earnings before Interest & Tax)EBIT = EBITDA - Depreciation &…