Required information[The following information applies to the questions displayed below.]The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for DuxCompany. Additional information from Dux's accounting records is provided also.AssetsCashAccounts receivableLess: Allowance for uncollectible accountsDividends receivableInventoryLong-term investmentLandBuildings and equipmentLess: Accumulated depreciationLiabilitiesAccounts payableSalaries payableInterest payableDUX COMPANYComparative Balance SheetsDecember 31, 2021 and 2020($ in thousands)Income tax payableNotes payableBonds payableLess: Discount on bondsShareholders' EquityCommon stockPaid-in capital-excess of parRetained earningsLess: Treasury stock$2021465 $80(4)3510395182561(105)$ 1,4124823$ 45182062543(18)370120237(8)$ 1,412$2020$ 1,185tA32482(3)188290120586(114)52211824390(19)3601002390$ 1,185 For the Year Ended December 31, 2021($ in thousands)RevenuesDUX COMPANYIncome StatementSales revenueDividend revenueExpensesCost of goods soldSalaries expenseDepreciation expenseBad debt expenseInterest expenseLoss on sale of buildingIncome tax expenseNet income$ 52035 $555$ 3124121140$48466$89Additional information from the accounting records:a. A building that originally cost $40,000, and which was three-fourths depreciated, was sold for $7,000.b. The common stock of Byrd Corporation was purchased for $5,000 as a long-term investment.c. Property was acquired by issuing a 13%, seven-year, $62,000 note payable to the seller.d. New equipment was purchased for $15,000 cash.e. On January 1, 2021, bonds were sold at their $153,000 face value.f. On January 19, Dux issued a stock dividend (1,000 shares). The market price of the $10 par value common stock was$30 per share at that time.g. Cash dividends of $61,000 were paid to shareholders.h. On November 12, 2,100 shares of common stock were repurchased as treasury stock at a cost of $8,000.Prepare the statement of cash flows for Dux Company. Use the T-account method to assist in your analysis. (Enter your answers inthousands (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.)

Statement of Cash Flow - Statement of Cash Flow is a financial Statement. That includes Inflow and…

Required information [The following information applies to the questions displayed below.] The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Additional information from Dux's accounting records is provided also. Assets Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment Less: Accumulated depreciation Liabilities Accounts payable Salaries payable Interest payable DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Income tax payable Notes payable Bonds payable Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings Less: Treasury stock 2021 $ 465 $ 324 80 82 $ (4) 35 103 95 182 561 (105) $1,412 45 18 20 23 62 543 (18) 370 120 237 (8) $ 1,412 2020 $ (3) 18 82 90 120 586 (114) $1,185 52 21 18 24 0 390 (19) 360 100 239 0 $ 1,185

Required information [The following information applies to the questions displayed below.] The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Additional information from Dux's accounting records is provided also. Assets Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment Less: Accumulated depreciation Liabilities Accounts payable Salaries payable Interest payable DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Income tax payable Notes payable Bonds payable Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings Less: Treasury stock 2021 $ 465 $ 324 80 82 $ (4) 35 103 95 182 561 (105) $1,412 45 18 20 23 62 543 (18) 370 120 237 (8) $ 1,412 2020 $ (3) 18 82 90 120 586 (114) $1,185 52 21 18 24 0 390 (19) 360 100 239 0 $ 1,185

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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Here are simplified financial statements for Phone Corporation in 2020: Net sales Cost of goods sold Other expenses INCOME STATEMENT (Figures in $ millions) Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax Taxes (at 21%) Net income Dividends Assets Cash and marketable securities Receivables Inventories Other current assets BALANCE SHEET (Figures in $ millions) Total current assets Net property, plant, and equipment Other long-term assets. Total assets Liabilities and shareholders' equity Payables Short-term debt Other current liabilities Total current liabilities Long-term debt and leases Other long-term liabilities Shareholders' equity Total liabilities and shareholders' equity $ 13,600 4,310 4,162 2,668 $2,460 718 $1,750 368 a. Return on equity (use average balance sheet figures) b. Return on assets (use average balance sheet figures) c. Return on capital (use average balance sheet figures) d. Days in inventory (use start-of-year balance sheet…
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The balance sheets for Dual Monitors Corporation and additional information are provided below. DUAL MONITORS CORPORATION Balance Sheets December 31, 2024 and 2023 Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional Information for 2024: 1. Net Income is $150,600. 2. Sales on account are $1,215,500. (All sales are credit sales.) 3. Cost of goods sold is $973,400. Complete this question by entering your answers in the tabs below. a. Gross profit ratio b. Return on assets c. Profit margin d. Asset turnover e. Return on equity 2024 19.9 % 13.9 % %6 $208,600 60,000 86,000 3,100 times %6 390,000 390,000 700,000 580,000 (338,000) (178,000)…
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Determine the WACC, and determine whether the company generated value or not, and what the amount was for both years ANSWER 2020 2021 WACC EVA ROIC
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! Required information [The following information applies to the questions displayed below.] Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity This Year Last Year $ 26 $ 11 292 228 151 195 8 5 477 439 512 433 (81) (70) 431 363 28 34 $ 936 $ 836 $ 305 $ 225 73 78 73 65 451 368 199 172 650 540 163 202 123 94 286 296 $ 936 $ 836 Weaver Company Income Statement For This Year Ended December 31 Sales $ 753 Cost of goods sold 449 Gross margin Selling and administrative…
use the information to make a common size balance sheet
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Item Nos. 12 and 13 are based on the following information:ddet01oM mat Bravo Company was organized at the beginning of this year with dones authorized capital of 100,000 ordinary shares with a par value of P 200 per hatini share. During the year, Bravo had the following transactions affecting the shareholders' equity: 01 Fon Jan. 10 Issued 25,000 shares at P 220 per share. .000 Mar. 25 Issued 1,000 shares for legal services when the fair value was P 240 per share. dw.or Sep. 30 Issued 5,000 shares for a tract of land when the fair value was P 260 per share.
Prepare a well-written analysis of each financial statement using appropriate business/accounting vocabulary.
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