sales of $183,000 $158,000 on account $25,000 for cash ignore cost of goods
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sales of $183,000 $158,000 on account $25,000 for cash ignore cost of goods
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- Question Content Area Cash and accounts receivable for Adams Company are as follows: Line Item Description Current Year Prior Year Cash $51,246 $43,800 Accounts receivable (net) 17,596 33,200 What is the amount and percentage of increase or decrease that would be shown with horizontal analysis? Enter a decrease using a minus sign before the amount and the percentage. Account Dollar Change Percent Change Effect Cash $fill in the blank 1 fill in the blank 2 % Accounts Receivable $fill in the blank 4 fill in the blank 5 %QUESTION 7 Claculate Delta Airlines' Cash COnversion Cycle based on the following information: Sales 260,028 COGS 213,500 Accounts Receivable 35,917 Inventory 4,253 Accounts Payable 59,583Data table Account Title Cash Accounts Receivable Merchandise Inventory Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Notes Payable, long-term Moray, Capital Moray, Withdrawals Sales Revenue Cost of Goods Sold Selling Expense Administrative Expense Budget Office Systems Adjusted Trial Balance March 31, 2018 Interest Expense Total $ Debit Balance 4,300 13,400 31,400 7,000 42,800 40,000 SA 106,200 27,200 14,000 2,200 288,500 $ Credit 13,300 9,600 900 8,100 20,600 236,000 288,500 X
- Please do not give solution in image format thanku----- Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 24,930 71,524 89,927 8, 109 232,313 $29,435 $ 30,652 49,965 69,429 7,881 211,224 38,886 42,258 3,307 185,497 Total assets $426,803 $ 367,934 $ 300,600 Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $105,211 $ 62,803 $ 40,473 81,844 162,500 77,248 $426,803 82,932 162,500 59,699 $ 367,934 $ 300,600 68,426 162,500 29,201 Total liabilities and equity The company's income statements for the Current Year and 1 Year Ago, follow. 1 Yr Ago $ 437,841 For Year Ended December 31 Sales Cost of goods sold other operating expenses Interest expense Income tax expense Total costs and expenses Current Yr $554,844 $338,455 172,002 9,432 7,213 $284,597 110,774 10,070 6,568 527,102 $ 27,742 412,009 $ 25,832 Net…22 Calculate the missing amounts. a b d e Net sales Cost of goods sold Gross profit from sales Operating expenses Profit (loss) $ 208,800 $ 165,000 $ 73,800 41,600 303,000 205,600 108,200 75,200 91,600 93,000 106,000 (31,000) (5,900) 57,000 (28,400)
- Sales revenue $350,000 Accounts receivable $280,000 Ending inventory $230,000 Cost of goods sold $180,000 Sales returns $50,000 Sales discount $20,000 What is the gross profit? numeric response:????????Problem 21-9 (Algo) Cash flows from operating activities (direct method and indirect method)—cash equivalent [LO21-3, 21-4] Skip to question [The following information applies to the questions displayed below.]Portions of the financial statements for Hawkeye Company are provided below. HAWKEYE COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales $ 950 Cost of goods sold 375 Gross margin 575 Operating expenses: Salaries $ 237 Depreciation 195 Loss on sale of land 14 Total operating expenses 446 Operating income 129 Other income (expense): Gain on sale of cash equivalents 4 Interest expense (45 ) Income before tax 88 Income tax expense 44 Net income $ 44 HAWKEYE COMPANY Selected Accounts from Comparative Balance Sheets December…Decrease in accounts receivable Increase in inventory Depreciation expense Hemmer Company reported net income for 2021 in the amount of $49,000. The company's financial statements also included the following What is net cash provided by operating activities? Multiple Choice O $51,600. $56.000 Saved $6,400 2,000 2,600 7
- Instructions This assignment is designed for practicing both the retailer/merchandiser accounting cycle and your basic excel skills. Below are select sales transactions for two companies. You will need to enter the missing pieces of each transaction on the journal entry tab. Each missing piece of information is highlighted in yellow. The only cell where an actual number is to be input is on the journal entries worksheet. Please note: not every yellow cell requires input (it could be left blank if appropriate). After completing the journal entries, you must then complete the missing pieces of the T accounts, trial balance, and statements highlighted in yellow. Only excel functions may be used to calculate the appropriate cell value on these pages. DO NOT INPUT THE ACTUAL NUMBER INTO THE T ACCOUNTS, TRIAL BALANCE, OR STATEMENTS. Use excel functions (such as making a cell equal another from the journal entry page, summing numbers together, or using the plus or minus symbols to help you…QUESTION 17 Claculate Delta Airlines' Cash COnversion Cycle based on the following information: Sales 279,852 COGS 164,821 Accounts Receivable 36,266 Inventory 5,171 Accounts Payable 56,060Cash Accounts receivable Equipment, net Land Total assets Current Year $7,440 $4,000 44,000 91,680 $197.120 Percent change Prior Year Required: Compute the annual dollar changes and percent changes for each of the following items $8,000 18,000 40,000 66,000 $132.000 (Use cells A2 to C7 from the given information to complete this question. Decreases should be entered with a minus sign. Round your percentage answers to one decimal place.) Cash Accounts receivable Equipment, net Horizontal Analysis Calculation of Percent Change Numerator: Current Year $7,440 54,000 44,000 Prior Year $8,000 18,000 40,000 Denominator: Dollar Change Change
