Required:Items from the income statement, statement of retained earnings, and balance sheet are listed below in alphabetical order. For thecompanies shown in each column, solve for the missing amounts.Common StockDividendsNet IncomeRetained Earnings, Beginning of YearRetained Earnings, End of YearTotal AssetsTotal ExpensesTotal LiabilitiesTotal RevenuesAlphabetIncorporated$43 $0104AppleIncorporated1065613728 $1415IntelCorporation19526926426624506371

Assets = liabilities + common stock+ net incomeNet income = revenues- expenses Retained earnings at…

Answered: Required: Items from the income…

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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Applying Interrelations of Financial Statements Fill in the missing amounts, a through t, for each of the three separate companies. Note: All amounts relate to the current year unless indicated as a prior year amount. Case 1 Net income Retained earnings, December 31, current year Retained earnings, December 31, prior year Dividends Common stock, December 31 Total stockholders' equity, December 31 Other comprehensive income Accumulated other comprehensive income, December 31,prior year Accumulated other comprehensive income, December 31,current year Comprehensive income Total assets, December 31 Total assets, excluding cash, December 31 Total liabilities, December 31 Cash, December 31, prior year Cash, December 31, current year Change in cash Check (a) (b) (c) (d) (e) (f) $28,000 (h)$ 30,000 ✓ 10,000 8,000 x(i) 112,000 (j) X 3,000 2,000 x (k) 204,000✔ 194,000 (1) 92,000 5,000 10,000 (m) 5,000 ✓ Case 2 125,000 ✓ 870,000 (n) 780,000 35,000 (0) X 1,300,000 ✓ 0 (p) 0 0 X 2,200,000 2,135,000…
Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 67 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Υ1 Retained earnings, January 1 $3,595,450 $3,035,750 Net income 851,200 621,800 Dividends: On preferred stock On common stock (10,500) (10,500) (51,600) (51,600) Retained earnings, December 31 $4,384,550 $3,595,450 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Υ2 20Υ1 Sales $4,847,930 $4,466,640 Cost of merchandise sold 1,594,320 1,466,770 Gross profit $3,253,610 $2,999,870 Selling expenses $1,112,980 $1,377,430 Administrative expenses 948,100 808,960 Total operating expenses $2,061,080 $2,186,39o Income from operations $1,192,530 $813,480 Other revenue and expense: Other revenue 62,770 51,920 Other expense (interest) (288,000) (158,400)…
Compute the missing amounts on the company’s financial statements. (Hint: What’s the difference between the acid-test ratio and the current ratio?)13. Total liabilities14. Common stock capital15. Total stockholders' equity
Complete the following balance sheet based on the information provided ASSETS LIABILITIES & SHAREHOLDERS' EQUITY %$4 Question 2 Accounts payable Cash $63,000 Common stock Accounts receivable %$4 Retained earnings %24 Inventory %24 Plant and equipment, net $56,000 Total liabilities and s135,000 $135,000 Total assets shareholders' equity The values of selected ratios are as follows: Quick ratio 1.40 Average collection period Debt ratio 38 days 0.38 (Asset) Turnover ratio [Answer: Cash = 37,386, AR = 34,434, Inventory = 7,180, AP = 51,300, RE = 20,700] 2.45 %3D %3D %3D %3D
Based on the two pictures attached - I want to determine what is categorized as Operating Assets, Operating Liabilities and Non-operating liabilities, and Non-operating assets. From the information below
The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $47,481 $39,900 Long-term debt 44,650 47,000 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Enter all answers as positive numbers. Amount of Change Increase/Decrease Percentage Accounts payable $fill in the blank 1 IncreaseDecrease fill in the blank 3 % Long-term debt $fill in the blank 4 IncreaseDecrease fill in the blank 6 %
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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 StatementFor the Years Ended December 31, 20Y2 and 20Y1 Line Item Description 20Y2 20Y1 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 StatementFor the Years Ended December 31, 20Y2 and 20Y1 Line Item Description 20Y2 20Y1 Sales $10,850,000 $10,000,000 Cost of goods sold (6,000,000) (5,450,000) Gross profit $4,850,000 $4,550,000 Selling expenses $(2,170,000) $(2,000,000) Administrative expenses (1,627,500) (1,500,000) Total…
Selected current year company information follows: Net income Net sales Total liabilities, beginning-year Total liabilities, end-of-year $ 16,553 718,855 89,932 109,201 Total stockholders' equity, beginning-year 204,935 Total stockholders' equity, end-of-year 130,851 What is the return on total assets? (Do not round intermediate calculations.).
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