Required information Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2021. Accounts Payable Accounts Receivable $148,000 18,000 78,000 Cash (balance on September 1, 2020) Cash (balance on August 31, 2021) Common Stock 86,000 100,000 Dividends 13,000 Equipment 758,000 Notes Payable 33,000 Office Expense 110,000 Prepaid Rent 53,000 413,000 970,000 Retained Earnings (beginning) Salaries and Wages Expense Salaries and Wages Payable Sales Revenue 173,000 1,717,000 Supplies 31,000 Utilities Expense 545,000 Other cash flow information: Additional investments by stockholders Cash paid to purchase equipment Cash paid to suppliers and employees Repayments of borrowings Cash received from customers Cash received from borrowings Dividends paid in cash $ 34,000 43,000 1,496,000 158,000 1,676,000 8,000 13,000

Required information Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2021. Accounts Payable Accounts Receivable $148,000 18,000 78,000 Cash (balance on September 1, 2020) Cash (balance on August 31, 2021) Common Stock 86,000 100,000 Dividends 13,000 Equipment 758,000 Notes Payable 33,000 Office Expense 110,000 Prepaid Rent 53,000 413,000 970,000 Retained Earnings (beginning) Salaries and Wages Expense Salaries and Wages Payable Sales Revenue 173,000 1,717,000 Supplies 31,000 Utilities Expense 545,000 Other cash flow information: Additional investments by stockholders Cash paid to purchase equipment Cash paid to suppliers and employees Repayments of borrowings Cash received from customers Cash received from borrowings Dividends paid in cash $ 34,000 43,000 1,496,000 158,000 1,676,000 8,000 13,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

SW Company provides the Equity & Liability information below for analysis. SW Company had net income of $365,700 in 2023 and $335,800 in 2022 Equity and Liabilities share capital-connen (137, 700 shares issued) Retained earnings (ote 1) Accrued liabilities sotes payable (current) Accounts payable Total egrity and liabilities Return on equity Note 1 Cash dividends were paid at the rate of $1 per share in 2022 and 52 per shore in 2023 Required: 1. Calculate the return on common there equity for 2022 and 2023. (Assurne total equity was $1,454,000 at December 31, 2021) (Round your answers to 1 decimal piace) 2022 23.4 $1,417,500 $1,417,500 417,700 10,300 22,700 59,500 2023 225 111,300 6,500 65,500 179,000 $1,937,700 $1,979,200 2. Calculate the book value per shares for 2022 and 2023 (Round your answers to 2 decimal places) 2022 XX S1254 S 13.31
Amy Dyken, controller at Shamrock Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for Shamrock’s financial statements. Below is selected financial information for the fiscal year ended June 30, 2020. Long-term debt Notes payable, 10% $990,000 9% convertible bonds payable 5,040,000 10% bonds payable 6,080,000 Total long-term debt $12,110,000 Shareholders’ equity Preferred stock, 5% cumulative, $50 par value, 104,000 shares authorized, 26,000 shares issued and outstanding $1,300,000 Common stock, $1 par, 10,000,000 shares authorized, 1,000,000 shares issued and outstanding 1,000,000 Additional paid-in capital 3,990,000 Retained earnings 6,090,000 Total shareholders’ equity $12,380,000 The following transactions have also occurred at Shamrock. 1. Options were granted on July 1, 2019, to purchase 180,000 shares at $15…
C7
Godo
Subject: acounting
The following information pertains to MNA Corporation for the year ended December 31, 2020: Accumulated profits, January 1, 2020 P1,500,000 Net income for 2020 300,000 Cash dividends declared December 1, 2020 and distributable on January 10, 2021 490,000 Share dividends declared November 25, 2011 and distributed on December 15, 2020 370,000 Required: Compute the balance of accumulated profits as of December 31, 2020.
The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Merry International Incorporated for the 2024 fiscal year. The following additional information from an analysis of Merry's financial position is available: Current ratio = 1.352272; Acid - test ratio = 0.5769817; Debt to equity ratio = 0.6063000. Required: Compute the missing amounts in the balance sheet. Note: Enter your answers in millions of dollars. Round your intermediate and final answers to the nearest whole dollar. MERRY INTERNATIONAL INCORPORATED Balance Sheet At December 31, 2024 ($ in millions) Assets Current assets \table[[Cash and cash equivalents,,510]. [Accounts and notes receivable]. [Inventory], [Other,, 460], [Total current assets], [Property and equipment, net,1,322,], [Intangible assets, net]. [Investments, 260,], [Notes and other receivables, net,1,276,].[Other assets, 1, 152,]. [Total long-term assets], [Total assets]. [Liabilities and Shareholders' Equity],…
Calculate the earnings per share (average of 420,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, e.g. 2.55.) Earning per share $enter the earning per share in dollars rounded to 2 decimal places per share Matthias Medical manufactures hospital beds and other institutional furniture. The company’s comparative balance sheet and income statement for 2019 and 2020 follow. Matthias MedicalComparative Balance SheetAs of December 31 2020 2019 Assets Current assets Cash $397,220 $417,400 Accounts receivable, net 906,800 776,400 Inventory 743,000 681,000 Other current assets 381,300 247,000 Total current assets 2,428,320 2,121,800 Property, plant, & equipment, net 8,678,000 8,440,100 Total assets $11,106,320 $10,561,900 Liabilities and Stockholders’ Equity Current liabilities $2,934,700…
What is your company’s common and preferred stock par or stated value? 2019
Need Answer with This Question please provide this one
On its Form 10-K for the year ended December 31, 2018, Bank of America Corp. reported information related to basic earnings per share.Fill in the missing information. Rounding instruction: Round answer a. to two decimal places.Round answer b., c., & d. to the nearest million.Round answer e. to one decimal place. $ millions, except per share amounts 2018 2017 2016 Net income $28,147 $18,232 d. Answer Preferred stock dividends 1,451 b. Answer $1,682 Net income applicable to common shareholders 26,696 c. Answer $16,140 Average common shares outstanding 10,096.5 10,195.6 e. Answer Basic earnings per share a. Answer $1.63 $1.57
The following data is given: December 31, 2021 2020 Cash $59,000 $49,500 Accounts receivable (net) 103,000 59,000 Inventories 93,000 102,000 Plant assets (net) 381,500 320,000 Accounts payable 55,500 40,500 Salaries and wages payable 9,500 5,000 Bonds payable 71,500 68,000 8% Preferred stock, $40 par 100,000 100,000 Common stock, $10 par 120,000 90,000 Paid-in capital in excess of par 80,000 65,000 Retained earnings 200,000 162,000 Net credit sales 940,000 Cost of goods sold 750,000 Net income 82,000 Compute the following ratios: (Round answers to 2 decimal places e.g. 15.25.) (a) Acid-test ratio at 12/31/21 :1 (b) Accounts receivable turnover in 2021 times (c) Inventory turnover in 2021 times (d) Profit margin on sales in 2021 (e) Return on common stockholders' equity in 2021 % (f) Book value per share of common stock at 12/31/21