esWThe 2020 balance sheet of Dugan, Incorporated, showed current assets of $3,160 andcurrent liabilities of $1,560. The 2021 balance sheet showed current assets of $3,090and current liabilities of $1,560. What was the company's 2021 change in net workingcapital, or NWC? (A negative answer should be indicated by a minus sign. Do notround intermediate calculations.)Change in NWC80000000< Prev6 of 13Next >

Given, The current assets of 2020 are $3160 The current liabilities of 2020 are $1560 The current…

Answered: The 2020 balance sheet of Dugan,…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The company's return on assets for the year ending December 31, 2019, is not exactly matching any of the options provided. However, I will now read back the entire question and provide the closest answer from the options given. A company reported the following financial information: As of December 31, 2018: total assets of $10,000,000 net sales revenue of $6,000,000 Net income of $1,000,000 As of December 31, 2019: total assets of $14,000,000 net sales revenue of $8,000,000 net income of $2,200,000 What was the company's return on assets for the year ending December 31, 2019? 8.33% 14.29% 16.67% 66.67%
Hokusai Creative's 2018 balance sheet showed long-term debt of $450,000, the 2019 balance sheet showed long-term debt of $490,000, and the 2019 income statement showed an interest expense of $15,750. Cash flow to creditors in 2019 was:
The December 31, 2018, balance sheet of Justin's Golf Shop, Inc., showed current assets of $1,055 and current liabilities of $890. The December 31, 2019, balance sheet showed current assets of $1,270 and current liabilities of $945. What was the company's 2019 change in net working capital, or NWC?
At January 1, 2020, Crane Company reported retained earnings of $1,938,000. In 2020, Crane discovered that 2019 depreciation expense was understated by $387,600. In 2020, net income was $822,000 and dividends declared were $205,000. The tax rate is 20%. Prepare a 2020 retained earnings statement for Crane Company. CRANE COMPANY Retained Earnings Statement
The 2020 balance sheet of Dugan, Incorporated, showed current assets of $2,945 and current liabilities of $1,230. The 2021 balance sheet showed current assets of $3,260 and current liabilities of $1,680. What was the company's 2021 change in net working capital, or NWC? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations.) Change in NWC
The 2019 balance sheet showed net fixed assets of $3.7 million while the firm's 2018 balance sheet showednet fixed assets of $3 million. The company’s 2019 income statement showed a depreciation expenseof $200,000. What was net capital spending for 2019?
Refer to the following financial statements for Kodenko Inc: Prepare forecasts of its income statement, statement of financial position and statement of cash flows for 2020 under the following assumptions:a. All financial ratio remains at 2019 level.b. Kodenko will not record restructuring costs for 2020.c. Taxes payable are at the 2019 level of RM544 million.d. Depreciation expense charged to Selling, general and administrative is RM765million for 2019 and 2018 repectively.e. Gross PPE is RM 12,982 million and RM12,963 million for 2019 and 2018 respectively.f. Projected current maturities of long term debt are RM13 million for 2020.g. Capital expenditure for 2019 and 2018 are RM1,047 and RM783, respectively
Assume that Lululemon Athletica Inc. reported the following summarized data at December 31, 2020. Accounts appear in no particular order. Revenues: $275, Other Liabilities: $38, Other assets: $101, Cash and other Current assets: 53, Accounts Payable: $5, Expenses: $244, Shareholder's equity: $80. Prepare the Trail Balance of Lululemon at December 31,2020. List the accounts in proper order, as shown on "in class" practice. How much was Lululemon's net income or net loss?
Metlock Corporation has retained earnings of $681,500 at January 1, 2020. Net income during 2020 was $1,434,800, and cash dividends declared and paid during 2020 totaled $81,300. Prepare a retained earnings statement for the year ended December 31, 2020. Assume an error was discovered: land costing $88,800 (net of tax) was charged to maintenance and repairs expense in 2019.
2. The following is extracted from the books of White Co as at 31 December 2019: $ nta sets Net current assets 6 010 Current assets 12 585 Non-current liabilities 2 500 Non-current assets 6 475 For the year ended 31 December 2019, 2$ Net profit Drawings 4 500 3 000 REQUIRED: Calculate the amount of capital at 1 January 2019. END OF PAPER
Applying the Fundamental Accounting Equation At the beginning of 2019, KJ Corporation had total assets of $554,000, total liabilities of $261,800, common stock of $139,300, and retained earnings of $152,900. During 2019, KJ had net income of $225,200, paid dividends of $74,400, and issued additional common stock for $93,900. KJ's total assets at the end of 2019 were $721,800. Required: Calculate the amount of liabilities that KJ must have at the end of 2019 in order for the balance sheet equation to balance.
Presented below is the trial balance of Flounder Corporation at December 31, 2020. Cash Sales Debt Investments (trading) (at cost, $145,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings Paid-in Capital in Excess of Par Totals Debit $ 199,490 156,530 4,800,000 301,490 279,490 2,003,530 263,530 1,042,490 438,530 903,610 214,610 599,490 603,530 160,000 194,530 195,000 $12,355,850 Credit $ 8,103,530 93,530 458,530 66,610 138,490 99,530 152,000 28,530 83,610 902,490 1,002,490 60,000 1,003,530 80,490 82,490 $12,355,850 Prepare a…

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