Hi expart Provide solution The 2013 balance sheet of Microsoft Corp. reportstotal assets of $142,431 million, operating liabilities of$47,242 million, and total shareholders' equity of$78,944 million. Microsoft 2013 non-operatingliabilities are:A) $63,487 millionB) $16,245 millionC) $95,189 millionD) $31,702 millionE) There is not enough information to calculate theamount.

Step 1: Define Operating and Non-operating LiabilitiesOperating liabilities are those liabilities…

Answered: The 2013 balance sheet of Microsoft…

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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At the end of 2022, Shah Corp. underestimated its annual bad debts expense by $50,000. What is the effect of this error, if any, on total assets and total stockholders’ equity on 12/31/22? Total assets and total stockholders’ equity are both overstated by $50,000. Total assets and total stockholders’ equity are both understated by $50,000. Total assets and total stockholders’ equity are both correctly stated.
Suppose the following data were taken from the 2017 and 2016 financial statements of American Eagle Outfitters. (All numbers, including share data, are in thousands.) 2017 2016 Current assets $ 925,359 $1,020,834 Total assets 1,963,676 1,867,680 Current liabilities 401,763 376,178 Total liabilities 554,645 527,216 Net income 179,061 400,019 Net cash provided by operating activities 302,193 464,270 Capital expenditures 265,335 250,407 Dividends paid on common stock 82,394 80,796 Weighted-average shares outstanding 205,169 216,119 (a)Calculate the current ratio for each year. (Round answers to 2 decimal places, e.g. 15.25.) 2017 2016 Current ratio enter current ratio rounded to 2 decimal places : 1 enter current ratio rounded to 2 decimal places : 1 (b)Calculate earnings per share for each year. (Round answers to 2 decimal places, e.g. 15.25.) 2017 2016…
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The following are selected numbers from the financial statements of a publically traded firm for 2016 and 2017 (in millions): 2016 2017 Revenues $618.0 $644.0 (Less) Operating Expenses ($392.4) ($405.94) (Less) Depreciation ($10.37) ($12.50) = Earnings before Interest and Taxes $215.23 $225.56 (Less) Interest Expenses ($0.0) ($0.0) (Less) Taxes ($31.28) ($30.40) = Net Income $183.95 $195.16 Working Capital $202.0 $260.50 The firm had capital expenditures of $21 million in 2016 and $17 million in 2017. The working capital in 2015 was $144 million. Estimate the cash flows to equity in 2016 and 2017.
I'm analyzing AMC's financial statements, starting with their operating activities. Their 2021 financial statement says Net Loss (1,135.4) in the millions. What exactly does this say about the company?
The year-end balance sheet of Star Inc. shows total assets of $12,407 million, operating assets of $9,849 million, operating liabilities of $5,291 million, and shareholders’ equity of $5,532 million.The company's year-end net operating assets are: Select one: a. $9,849 million b. $17,698 million c. $15,140 million d. None of these are correct. e. $4,558 million
The 2017 balance sheet of Kerber's Tennis Shop, Incorporated, showed $2.45 million in long-term debt, $730,000 in the common stock account, and $6.15 million in the additional paid-in surplus account. The 2018 balance sheet showed $3.6 million, $975,000, and $8.45 million in the same three accounts, respectively. The 2018 income statement showed an interest expense of $330,000. The company paid out $540,000 in cash dividends during 2018. If the firm's net capital spending for 2018 was $790,000, and the firm reduced its net working capital investment by $125,000, what was the firm's 2018 operating cash flow, or OCF? Multiple Choice O O $3,075,000 $-4,570,000 $-2,160,000 $-2,825,000 $-3,240,000
Condensed balance sheets for Phillips Company and Solina Company on January 1, 2013, are as follows: Phillips Solina Current assets $164,340 $89,490 Plant and equipment (net) 482,600 150,090 Total assets $646,940 $239,580 Total liabilities $88,220 $31,550 Common stock, $10 par value 337,200 171,950 Other contributed capital 120,680 47,820 Retained earnings (deficit) 100,840 (11,740 ) Total liabilities and equities $646,940 $239,580 On January 1, 2013, the stockholders of Phillips and Solina agreed to a consolidation. Because FASB requires that one party be recognized as the acquirer and the other as the acquiree, it was agreed that Phillips was acquiring Solina. Phillips agreed to issue 19,880 shares of its $10 par stock to acquire all the net assets of Solina at a time when the fair value of Phillips’ common stock was $16 per share.On the date of consolidation, the fair values of Solina’s current…
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