Please provide answer this accounting question answer do fast The 2023 balance sheet of Microsoft CorporationSolutions reports the following: Total assets: $120,500million Operating liabilities: $45,300 million Totalstockholders' equity: $62,700 million What areMicrosoft Corporation Solutions' 2023 non-operatingliabilities?A) 25,300 millionB) $10,800 millionC) $ $12,500 millionD) $15,700 million

Step 1: Define Non-Operating LiabilitiesNon-operating liabilities are obligations not directly…

Answered: The 2023 balance sheet of Microsoft…

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter3: Financial Statements, Cash Flow, And Taxes

Section: Chapter Questions

Problem 19SP

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The comparative balance sheets for Metlock Corporation show the following information. December 312020 2019Cash $33,500 $12,900Accounts receivable 12,400 10,000Inventory 12,100 9,000Available-for-sale debt investments –0– 3,000Buildings –0– 29,800Equipment 44,800 19,900Patents 5,000 6,300 $107,800 $90,900Allowance for doubtful accounts $3,100 $4,500Accumulated depreciation—equipment 2,000 4,500Accumulated depreciation—building –0– 6,000Accounts payable 5,000 3,000Dividends payable –0– 4,900Notes payable, short-term (nontrade) 3,000 4,100Long-term notes payable 31,000 25,000Common stock 43,000 33,000Retained earnings 20,700 5,900 $107,800 $90,900 Additional data related to 2020 are as follows. 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500.2. $10,000 of the long-term note payable was paid by issuing common stock.3. Cash dividends paid were $4,900.4. On January…
Condensed balance sheet and income statement data for Bridgeport Corporation are presented here. BRIDGEPORT CORPORATIONBalance SheetsDecember 31 2022 2021 2020 Cash $ 32,000 $ 22,000 $ 20,000 Accounts receivable (net) 52,000 47,000 50,000 Other current assets 93,000 98,000 67,000 Investments 58,000 73,000 48,000 Property, plant, and equipment (net) 500,000 370,000 358,000 $735,000 $610,000 $543,000 Current liabilities $ 87,000 $ 82,000 $ 72,000 Long-term debt 148,000 88,000 53,000 Common stock, $10 par 323,000 313,000 303,000 Retained earnings 177,000 127,000 115,000 $735,000 $610,000 $543,000 BRIDGEPORT CORPORATIONIncome StatementsFor the Years Ended December 31 2022 2021 Sales $743,000 $603,000 Less: Sales returns and allowances 42,000 32,000…
Condensed balance sheet and income statement data for Coronado Corporation are presented here. Coronado CorporationBalance SheetsDecember 31 2022 2021 2020 Cash $ 29,700 $ 17,300 $ 17,100 Accounts receivable (net) 49,500 45,800 49,000 Other current assets 89,800 95,700 63,900 Investments 55,100 69,300 45,600 Property, plant, and equipment (net) 500,800 369,900 358,000 $724,900 $598,000 $533,600 Current liabilities $84,500 $80,200 $69,100 Long-term debt 145,100 84,100 49,100 Common stock, $10 par 354,000 321,000 308,000 Retained earnings 141,300 112,700 107,400 $724,900 $598,000 $533,600 Coronado CorporationIncome StatementsFor the Years Ended December 31 2022 2021 Sales $744,500 $606,300 Less: Sales returns and allowances 40,900 29,700 Net…
A comparative balance sheet for Gena Company appears below:GENA COMPANYComparative Balance SheetDec. 31, 2021 Dec. 31, 2020AssetsCash $ 34,000 $11,000Accounts receivable 21,000 13,000Inventory 35,000 17,000Prepaid expenses 6,000 9,000Long-term investments -0- 17,000Equipment 60,000 33,000Accumulated depreciation—equipment (20,000) (15,000)Total assets $136,000 $85,000Liabilities and Stockholders' EquityAccounts payable $ 17,000 $ 7,000Bonds payable 36,000 45,000Common stock 53,000 23,000Retained earnings 30,000 10,000Total liabilities and stockholders' equity $136,000 $85,000Additional information:1. Net income for the year ending December 31, 2021 was $35,000.2. Cash dividends of $15,000 were declared and paid during the year.3. Long-term investments that had a cost of $17,000 were sold for $14,000.4. Depreciation expense for the year was $5,000.InstructionsPrepare a full statement of cash flows for the year ended December 31, 2021, using the indirectmethod.
Pharoah Corporation’s comparative balance sheet is presented below. PHAROAH CORPORATIONBalance SheetDecember 31 Assets 2021 2020 Cash $12,010 $8,980 Accounts receivable 17,810 19,660 Land 16,800 21,840 Buildings 58,800 58,800 Accumulated depreciation—buildings (12,600 ) (8,400 ) Total $92,820 $100,880 Liabilities and Shareholders’ Equity Accounts payable $10,390 $26,120 Common shares 63,000 57,960 Retained earnings 19,430 16,800 Total $92,820 $100,880 Additional information: 1. Profit was $19,010. Dividends declared and paid were $16,380. 2. No noncash investing and financing activities occurred during 2021. 3. The land was sold for cash of $4,120 resulting in a loss of $920 on the sale of the land. Prepare a cash flow statement for 2021 using the indirect method. Lu…
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan CorporationBalance SheetsDecember 31 2020 2019 2018 Cash $ 30,800 $ 17,600 $ 18,700 Accounts receivable (net) 50,500 44,200 47,100 Other current assets 89,600 94,900 63,900 Investments 55,300 71,000 45,100 Plant and equipment (net) 500,500 370,000 358,500 $726,700 $597,700 $533,300 Current liabilities $85,500 $79,800 $69,400 Long-term debt 144,300 84,100 50,300 Common stock, $10 par 348,000 316,000 304,000 Retained earnings 148,900 117,800 109,600 $726,700 $597,700 $533,300 Jergan CorporationIncome StatementFor the Years Ended December 31 2020 2019 Sales revenue $738,000 $605,500 Less: Sales returns and allowances 39,100 29,900 Net sales…
Jamison Corp.'s balance sheet accounts as of December 31, 2021 and 2020 and information relating to 2021 activities are presented below. December 31, 2021 2020 AssetsCash $ 440,000 $ 200,000Short-term investments 600,000 —Accounts receivable (net) 1,020,000 1,020,000Inventory 1,380,000 1,200,000Long-term investments 400,000 600,000Plant assets 3,400,000 2,000,000Accumulated depreciation (900,000)…
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan CorporationBalance SheetsDecember 31 2020 2019 2018 Cash $ 29,600 $ 17,000 $ 17,600 Accounts receivable (net) 50,600 44,300 48,300 Other current assets 90,300 94,500 64,500 Investments 55,000 70,000 44,700 Plant and equipment (net) 500,400 370,600 357,400 $725,900 $596,400 $532,500 Current liabilities $85,400 $79,800 $69,900 Long-term debt 144,900 84,300 50,900 Common stock, $10 par 351,000 310,000 300,000 Retained earnings 144,600 122,300 111,700 $725,900 $596,400 $532,500 Jergan CorporationIncome StatementFor the Years Ended December 31 2020 2019 Sales revenue $737,000 $605,800 Less: Sales returns and allowances 39,700 30,300 Net sales 697,300 575,500…
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan CorporationBalance SheetsDecember 31 2020 2019 2018 Cash $ 29,600 $ 17,000 $ 17,600 Accounts receivable (net) 50,600 44,300 48,300 Other current assets 90,300 94,500 64,500 Investments 55,000 70,000 44,700 Plant and equipment (net) 500,400 370,600 357,400 $ 725,900 $ 596,400 $ 532,500 Current liabilities $ 85,400 $ 79,800 $ 69,900 Long-term debt 144,900 84,300 50,900 Common stock, $10 par 351,000 310,000 300,000 Retained earnings 144,600 122,300 111,700 $ 725,900 $ 596,400 $ 532,500 Jergan CorporationIncome StatementFor the Years Ended December 31 2020 2019 Sales revenue $ 737,000 $ 605,800 Less: Sales returns and allowances 39,700 30,300…
Condensed balance sheet and income statement data for Bridgeport Corporation are presented here. Bridgeport CorporationBalance SheetsDecember 31 2020 2019 2018 Cash $ 32,000 $ 22,000 $ 20,000 Accounts receivable (net) 52,000 47,000 50,000 Other current assets 93,000 98,000 67,000 Investments 58,000 73,000 48,000 Plant and equipment (net) 500,000 370,000 358,000 $735,000 $610,000 $543,000 Current liabilities $ 87,000 $ 82,000 $ 72,000 Long-term debt 148,000 88,000 53,000 Common stock, $10 par 323,000 313,000 303,000 Retained earnings 177,000 127,000 115,000 $735,000 $610,000 $543,000 Bridgeport CorporationIncome StatementsFor the Years Ended December 31 2020 2019 Sales revenue $743,000 $603,000 Less: Sales returns and allowances 42,000 32,000 Net sales 701,000…
The Murdock Corporation reported the following balance sheet data for 2024 and 2023: 2024 2023 Cash $ 98,465 $ 34,355 Available-for-sale debt securities (not cash equivalents) 25,000 104,000 Accounts receivable 99,000 85,350 Inventory 184,000 162,100 Prepaid insurance 3,210 3,900 Land, buildings, and equipment 1,288,000 1,144,000 Accumulated depreciation (629,000) (591,000) Total assets $ 1,068,675 $ 942,705 Accounts payable $ 93,440 $ 167,670 Salaries payable 27,600 34,000 Notes payable (current) 42,100 94,000 Bonds payable 219,000 0 Common stock 300,000 300,000 Retained earnings 386,535 347,035 Total liabilities and shareholders' equity $ 1,068,675 $ 942,705 Additional information for 2024: (1) Sold available-for-sale debt securities costing $79,000 for $85,400. (2) Equipment costing $20,000 with a book value of $6,900 was sold for $8,850. (3) Issued 6% bonds payable at face value, $219,000. (4) Purchased new equipment for $164,000 cash. (5)…
Condensed balance sheet and income statement data for Lily Corporation are presented here. 2022 2021 2020 Cash $29,100 17400 $17,800 Accounts receivable (net) 50,000 44700 47,500 Other current assets 90,100 95700 63,500 Investments 54,500 70600 44,000 Property, plant, and equipment (net) 500,500 370700 358,200 724,200 $599,100 531,000 Current liabilities 85,000 80,500 69,100 Long-term debt 144,900 84,200 49,500 Common stock, $10 par 342,000 311,000 299,000 Retained earnings 152,300 123,400 113,400 724,200 599100 531,000 2022 2021 Sales $737,000 605400 less: sales return and allowances 39,900 31000 net sales 697,100 574400 cost of goods sold 424,400 370500 gross profit 272,700 203900 operating expenses (including income taxes) 182,077 $146,460 net income 90,623 57,440 Additional information: 1. The market price of Jergan's common stock was $7, $7.5, $8.5 for 2020, 2021, and 2022. 2. You must compute…

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