What is the balance in Retained Earnings on these financial accounting question? Silver Bay Inc. had the following account balances:AccountAccounts PayableBalance ($)1,120Accounts Receivable 2,150Cash5,400Common Stock1,600Deferred Revenue1,200Silver Bay Inc. was missing the account balance for retainedearnings.What is Silver Bay Inc.'s balance in retained earnings?

To calculate the retained earnings for Silver Bay Inc., we need to use the accounting equation:…

Answered: Silver Bay Inc. had the following…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13GI

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What is balance in retained earnings?
Eilish Company had the following account balances. Accounts Payable $ 821Accounts Receivable $ 1953Cash $ 4730Common Stock $ 1702Deferred Revenue $ 1475 Eilish was missing the account balance for retained earnings. What is Eilish's balance in retained earnings?
I need help with filling out this financial statement sheet
What is the Days Payables Outstanding? Use the attached financial data to calculate the ratios. Round to the nearest decimal. Abercrombie & Fitch Co (ANF) Financial Data Revenues Cost of Sales Total Operating Expenses Interest Expense Income Tax Expense Diluted Weighted Shares Outstanding Cash + Equivalents Accounts Receivable Inventories Total Current Assets Total Assets Accounts Payable Total Current Liabilities Total Stockholders' Equity ANF Stock Price = $10.30 Select one O A. 42.3 days, 37.0 days OB. 76.1 days, 89.4 days OC. 89.4 days, 37.0 days OD. 76.1 days, 97.7 days 2022 $3,659.3 $1,545.9 $2,026.9 $28.5 $37.8 52.8 $257.3 $108.5 $742.0 $1,220.4 $2,694.0 $322.1 $935.5 $656.1 2021 $3,712.8 $1,400.8 $1,968.9 $34.1 $38.9 62.6 $823.1 $69.1 $525.9 $1,507.8 $2,939.5 $374.8 $1,015.2 $826.1
The following is selected financial data from Block Industries. How much does Block Industries have in current liabilities? Cash Accounts receivable Equipment Prepaid expenses Accounts payable Unearned revenue Long-term notes payable Common stock Revenue Sales tax payable Interest expense Depreciation expense OOOO $1 $19,800 $25,800 $12,300 $20,000 13,400 10,650 5,000 12,300 7,500 10,000 18,000 11,700 6,000 4,500 1,000
1. Presented below is the adjusted trial balance of the LLL Corporation. Using this data, prepare the following statements: a. Income Statement (multiple step format); be sure to include the required earnings per share presentation. b. Statement of Retained Earnings Balance Sheet (classified format) C. LLL Corporation Adjusted Trial Balance 31-Dec-20 Debit Credit Cash 104,000 Accounts Receivable 294,000 Allowance for Doubtful Accounts 22,000 Notes Receivable (due 2/25/21) 2,500 Inventory, 12/31/17 Equipment Accumulated Depreciation - Equipment Building Accumulated Depreciation - Building 259,500 325,000 115,000 531,000 166,000 Land 125,000 Accounts Payable 136,000 Salaries & Wages Payable 6,000 Notes Payable - Due 5/31/21 125,000 395,000 Mortgage Payable - Due 12/31/2035 Common Stock, Par $.01 10,000 Additional Paid in Capital in Excess of Par 400,000 Retained Earnings, 12/31/20 179,000 Dividends Declared 15,000 Sales, Net 885,000 Cost of Goods Sold (COGS) 475,000 165,000 Selling…
Find the following using the data bellow a. Accounts receivable B. Current assets C. Total assets D. Return on assets E. Common equity F. Quick ratio
Identify whether each of the following accounts would be considered a permanent account (yes/no) and which financial statement it would be reported on (Balance Sheet, Income Statement, or Retained Earnings Statement). A. Common Stock B. Dividends C. Dividends Payable D. Equipment E. Income Tax Expense F. Income Tax Payable G. Service Revenue H. Unearned Service Revenue I. Net Income
Which set of accounts has the same type of normal balance? A. Cash, accounts payable B. Prepaid rent, unearned service revenue C. Dividends, common stock D. Accounts payable, retained earnings
The following information pertains to Cachet Company. Assume that allBalance sheet amounts represent both average and ending balance figures.Assume that all sales were on credit.AssetsCash and short-term investments P 40,000Accounts receivable (net) 30,000Inventory 25,000Property, plant and equipment 215,000Total Assets P310, 000Liabilities and Stockholders’ EquityCurrent liabilities P 60,000Long-term liabilities 95,000Stockholders’ equity—common 55,000Total Liabilities and Stockholders’ Equity P310, 000Income StatementSales P 90,000Cost of goods sold 45,000Gross margin 45,000Operating expenses 20,000Net income P 25,000Number of shares of common stock 6,000Market price of common stock P20Dividends per share P1.00What is the price-earnings ratio for this company?A. 6 timesB. 4.2 timesC. 8 times D. 4.8 times Can you please give me a coherent solution for this?
C. Comparative Financial data for the two companies are shown below: Cash Accounts Receivable Inventories Prepaid Expenses Other Assets (net) Current Liabilities Mortgage Payable Owner's Equity Sales (all on credit) Gross Profit rate on Sales Number of Business days, 360 TIKTAK CORP. P67,832 a. Inventory Turnover b. Average age of inventory c. Accounts receivable turnover 84,480 71,280 12,000 353,388 126,694 50,000 412,286 844,800 32.5% METATA CORP. P 17,100 27,600 26,496 3,000 173,124 48,392 100,000 98,928 165,600 20% Required: 1. Determine which of the two companies has the more liquid current assets by developing the following ratios: d. Average collection period 2. Determine which of the two companies has the more total liquid assets. 3. Determine which of the two companies is generally more stable.

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