What are the total assets at the end of the period on this general accounting question? SanFran Sales has projected the following balances for the end of the fiscal period:Sales$234,000Cash$14,900Cost of goods sold$149,000Accounts receivable$37,000Inventory$54,000Selling expenses$44,000Interest expenses$22,000Equipment$134,000Accumulated depreciation $72,000What are the total assets at the end of the period?a. $167,900b. $19,000c. $239,900d. $186,900

Step 1: Define AssetsAssets refer to the resources that a company has on hand to generate revenues…

Answered: SanFran Sales has projected the…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 30P

See similar textbooks

Similar questions

CB Winter Sports specializes in providing ski lessons to beginners. The company uses the allowance method to account for uncollectible accounts expense CB Winter Sports experienced the following four accounting events in Year 1: 1. Recognized $266,000 of revenue on account. 2. Collected $126,000 cash from accounts receivable. 3. Wrote off uncollectible accounts of $2,300, 4. Recognized uncollectible accounts expense, CB Winter Sports estimated that uncollectible accounts expense will be 3 percent of sales on account Required: Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA) The first transaction is shown as an example. Note: Enter any decreases to account balances and cash…
Current Attempt in Progress Robert Company began the year with retained earnings of $407000. During the year, the company recorded revenues of $502000, expenses of $382000, and paid dividends of $39500. What was Robert's retained earnings at the end of the year? O $541500 ○ $487500 O $502000 O $844500
Deborah provides the following list for her CPA who is preparing her gift tax return. Which of the following will be included as a taxable gift? Payment to her grandmother of $20,000 to help her with her medical bills. Payment to Doctor’s Hospital for $35,000 to cover the medical bills of a friend. Payment to Northshore Medical School for $17,000 to cover her nephew’s tuition. $6,000 to her son to help cover his college expenses. Carole made the following transfers this year: She gave her friend, Paul, $23,000 to pay his tuition for law school. She made a $14,000 alimony payment of $20,000 to her ex-husband. She paid $20,000 to Diamond Shores Hospital for her friend Jackie’s medical bill. If these are the only gift transactions this year, what is the amount of Carole’s taxable gifts?
In 2011, the fixed costs of a company were $500,000, and its variable costs equaled $150,000. In 2010, the company made an annual profit of $200,000. It has been predicted that, despite a steady growth, the company's variable costs will likely equal $300,00 by 2013. The total costs of the company in 2011 were
Capital Budgeting with Taxes (Non-MACRS Depreciation); Sensitivity Analysis GravinaCompany is planning to spend $6,000 for a machine that it will depreciate on a straight-line basisover 10 years with no salvage value. The machine will generate additional cash revenues of $1,200 ayear. Gravina will incur no additional costs except for depreciation. Its income tax rate is 35%. Thepresent value annuity factor for 15%, 10 years (from Appendix C, Table 2) is 5.019.Required1. What is the payback period of the proposed investment (in years, and rounded to 1 decimal place) underthe assumption that the cash inflows occur evenly throughout the year?2. What is the accounting (book) rate of return (ARR) based on the initial investment outlay? Round youranswer to 1 decimal place (e.g., 13.571% = 13.6%).
The company uses the allowance method to account for uncollectible receivables. Allowance for doubtful account had 1.500 TL credit balance and account receivable account had 12.000 TL debit balance at the beginning of year. During the year bad debt expense was recorded for 2.000 TL and wrote off bad receivables for 2.500. a. what is the balance of allowance for doubtful account at the year - end? b. what is the net realizable value of account receivable at the vear - end?
Current liabilities Total assets Retained earnings The following data are for the A, B, and C Companies: Variables Current assets A $150,000 $ 60,000 $300,000 Company B $170,000 $ 50,000 $280,000 C $180,000 $ 30,000 $250,000 $ 60,000 $ 80,000 $ 90,000 Earnings before interest and taxes $ 70,000 $ 60,000 $ 50,000 Market price per share $ 20.00 $ 18.75 $ 16.50 Number of shares outstanding 9,000 9,000 9,000 Book value of total debt Sales $ 30,000 $430,000 $ 50,000 $ 80,000 $400,000 $200,000 REQUIRED: A. B. Using MS Excel, compute the Z score for each company. According to the Altman model, which of these firms is most likely to experience financial failure?
Assume that you are a partner with the firm of Santos & Lopez LLP. You have been asked by Gonzales, Inc., an industrial supply company, to provide assurance about the change in existing customer satisfaction over the last three years. Gonzales' management has indicated that the criteria it intends to use to evaluate customer satisfaction are a combination of customer retention rate and increase in peso sales. Gonzales' management will provide a schedule of the customer satisfaction measures and a note that describes the criteria used Required If Gonzales wants to provide the presentation and CPA's report for general use by prospective customers, identify any available standards that provide guidance for such a service and the type or types of services that your firm could provide
A property's annual property taxes equaled $7,560. The seller owes the buyer for 20 days c prorated property taxes. Using the 360-day calendar, how much does the seller owe the buyer? $1,950 $360 $2,100 $420
ro forma income statement. Given the income statement , for California Cement Company for 2013 and an expected sales growth rate of 6.67% for 2014, prepare a pro forma income statement for 2014. First, find the percentage of each income statement line from 2013 as a percent of sales. (Round to three decimal places.) California Cement Company Income Statement for 2013 Sales revenue $ 22,869,000 Cost of goods sold $ -11,637,000 Selling, general, and administrative expenses $ -3,993,000 Depreciation expenses $ -1,331,000 EBIT $ 5,908,000 Interest expense $ -175,000 Taxable income $ 5,733,000 Taxes $ -2,512,462 Net income $ 3,220,538 What is the sales forecast for 2014? (Round to the nearest dollar.) The pro forma income statement for 2014 is: (Round to the nearest dollar.) California Cement Company Pro Forma Income Statement for 2014 Sales revenue $ ? 100.00% Cost of goods sold $ ? 50.885 %…
On October 1, 2023, Ross Wind Energy Inc. issued a $1,570,000, 10.5%, seven-year bond. Interest is to be paid annually each October 1. Assume a November 30 year-end. (Use appropriate factor(s) from the tables provided.) Required: a. Calculate the issue price of the bond assuming a market interest rate of 8% on the date of the bond issue. (Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) Issue price of the bond $ 17,755,252 b. Using the effective interest method, prepare an amortization schedule. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.) Period Ending Cash Interest Paid Period Interest Expense Premium Unamortized Carrying Amort. Premium Value Oct. 1/23 $ Ο
A company had the following accounts and balances as of December 31: Account Debit Credit Cash $ 20,000 Accounts Receivable 2,000 Supplies 1,500 Prepaid Insurance 1,400 Accounts Payable $ 4,000 Total equity 14,900 Lodging Revenue 7,000 Salaries Expense 500 Utilities Expense 500 Totals $ 25,900 $ 25,900 Using the information in the table, calculate the total assets reported on the balance sheet for the period. Multiple Choice $23,400. $25,400. $25,900. $22,500. $24,900.

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

SEE MORE TEXTBOOKS