Samson Corporation has $200,000 of outstanding long-term debt, $400,000 in total liabilities, and $1,000,000 of total assets of which $75,000 is goodwill. Its long-term debt to tangible assets would be
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Samson Corporation has $200,000 of outstanding long-term debt, $400,000 in total liabilities, and $1,000,000 of total assets of which $75,000 is
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- During 2021, Tiktok Company constructed various assets. The weighted average expenditures for capitalization of interest during 2021 amounted to P 5,600,000. The entity had the following debt outstanding at December 31, 2021: • From BPI (specific borrowing), P 3,600,000, 10% • From BDO (general borrowing), P 4,000,000, 12% • From PNB (general borrowing), P 2,000,000, 9% QUESTION 1: What is the capitalized borrowing costs for the year ended December 31, 2021? I Select 1 QUESTION 2: What is the interest expense for the year ended December 31, 2021? I Select 1If a company has $181,000 in total liabilities and $225,000 in total assets,what percentage of total assets is being financed with the use of other people’smoney?During 2020, ABC Company constructed various assets. The weighted average expenditures for capitalization of interest during 2021 amounted to P 5,600,000. The entity had the following debt outstanding at December 31, 2021:• From BPI (specific borrowing), P 3,600,000, 10%• From BDO (general borrowing), P 4,000,000, 12%• From PNB (general borrowing), P 2,000,000, 9%1) What is the capitalized borrowing costs for the year ended December 31, 2020?P580,000P360,000P800,000P440,0002) What is the interest expense for the year ended December 31, 2020?P580,000P480,000P660,000P440,000
- Ayayai Company Limited reported the following for 2023: sales revenue, $1.16 million; cost of goods sold, $725, 000; selling and administrative expenses, $333, 000; gain on disposal of building, $283,000; and unrealized gain - OCI (related to FV- OCI equity investments with gains/losses not recycled), $17,000. Assume investments are accounted for as FV - OCI equity investments, with gains/losses not recycled through net income. Prepare a statement of comprehensive income. Ignore income tax and EPS.Consider the following information: Effective gross income (EGI) was $40 million; the deprecation deduction was $9 million; debt service was $17million, of which $6 million was principal; $1.5 million was put into a fund for future renovations; operating expenses were $14 million. Compute the taxable income from operations.Wakanda Company borrowed P4,000,000 on a 10% note payable to finance a new warehouse which the entity is constructing for own use.The only other debt of the entity is a P6,000,000, 12% mortgage payable on an office building.At the end of the current year, average accumulated expenditures on the new warehouse totaled P4,750,000. What amount of interest should be capitalized? A. P400,000 B. P475,000 C. P490,000 D. P522,500
- ATC Corporation had the following data in 2021: Revenues were P8,000,000, operating expenses totalled P7,200,000 that included depreciation of P150,000 and intangible asset amortization of P20,000. The profit and loss also reported unrealized loss on equity investments at fair market value through profit or loss of P18,000 and gain on sale of equipment of P28,000. How much is the net cash flow from operating activities?Boricua Corp. has $19 million in fixed assets according to its balance sheet, but its value is $30 million according to its most recent appraisal. Boricua Corp. also has $12 million in current assets according to its balance sheet and according to its most recent appraisal their value is $20 million. The current obligations according to the balance sheet and the market value are $2 million as well as the long-term obligations whose value is $19 million. The market value of shareholders' equity or capital is: Select one: a. 50 b. 29 c. 10 d. 19Muffin’s Masonry, Inc.’s, balance sheet lists net fixed assets as $19 million. The fixed assets could currently be sold for $29 million. Muffin’s current balance sheet shows current liabilities of $8.0 million and net working capital of $7.0 million. If all the current accounts were liquidated today, the company would receive $7.50 million cash after paying the $8.0 million in current liabilities. What is the book value of Muffin’s Masonry’s assets today and the market value of these assets? (Enter your answer in millions of dollars rounded to 2 decimal places.) current assets fixed assets total
- Muffin's Masonry Incorporated's balance sheet lists net fixed assets as $31 million. The fixed assets could currently be sold for $53 million. Muffin's current balance sheet shows current liabilities of $14.0 million and net working capital of $13.0 million. If all the current accounts were liquidated today, the company would receive $8.10 million cash after paying the $14.0 million in current liabilities What is the book value of Muffin's Masonry's assets today and the market value of these assets? Note: Enter your answers in millions of dollars rounded to 2 decimal places. (i.e., Enter 5,500,000 as 5.50.) Current assets Fixed assets Total BOOK VALUE MARKET VALUE (in millions of dollars) $ 0.00 $ 0.00Muffin’s Masonry, Inc.’s, balance sheet lists net fixed assets as $26 million. The fixed assets could currently be sold for $43 million. Muffin’s current balance sheet shows current liabilities of $11.5 million and net working capital of $10.5 million. If all the current accounts were liquidated today, the company would receive $7.85 million cash after paying the $11.5 million in current liabilities. What is the book value of Muffin’s Masonry’s assets today and the market value of these assets? (Enter your answer in millions of dollars rounded to 2 decimal places.) BOOK VALUE MARKET VALUE (in millions of dollars) Current assets Fixed assets TotalThe entity has an unsecured overdraft of R20000 at prospect Bank that carries an interest rate of 22% per annum. In which one of the following statement will this item be shown? A.Statement of financial position as a current liability B.Statement of financial position as a non current liability C.Statement of income and expenditure as finance costs C.Statement of financial position as current asset
