The 2024 balance sheet of Techno Corp. reports the following: Total assets: $200,000 million Operating liabilities: $60,000 million Total shareholders' equity: $120,000 million what are Techno Corp.'s non- operating liabilities? A) $20,000 million B) $30,000 million C) $40,000 million D) $50,000 million
Q: The equity of Alliance Company is $198,300 and the total liabilities are $16,700. The total assets…
A: Explanation of Liabilities:Liabilities are financial obligations or debts that a company owes to…
Q: Please answer the accounting question without use Ai
A: Step 1: Define Variable CostVariable cost is a cost that varies with the level of production output.…
Q: Tyler Toys has a beginning inventory for the year of $18,000. During the year, Tyler purchases…
A: To determine ending inventory, we use the cost of goods sold (COGS) formula:…
Q: What is the amount of cash collected from customers on these general accounting question?
A: Step 1: Definition of Cash Collected from CustomersCash collected from customers represents the…
Q: General Accounting Question need help
A: Step 1: Define Return on Equity (ROE)Return on Equity (ROE) is a financial metric that measures the…
Q: A firm sells 2,800 units of an item each year. The carrying cost per unit is $3.26 and the fixed…
A: To calculate EOQ, we use the formula:EOQ=H2DSWhere:D = Annual demand = 2,800 unitsS = Fixed…
Q: General accounting
A: Step 1: Formula Debt to equity ratio = Debt/EquityDebt = Debt to equity ratio x Equity Step 2:…
Q: MCQ
A: Concept of Fixed Assets: Fixed assets are tangible, long-term resources owned by a company that are…
Q: Provide correct answer general Accounting
A: Step 1: Define Standard Labor Cost Per Output UnitThe standard labor cost per output unit is the…
Q: Provide correct answer general Accounting
A: Step 1: Define Deferred Tax AssetsInternal Revenue Service states that by reducing the current…
Q: Answer?? General Account
A: To calculate the cost per equivalent unit for conversion costs, we use the weighted-average method…
Q: Please given correct option general accounting
A: Interest on note = 8,000 *( 6%/12 ) * 6 = 240 Total Cash to be repaid =…
Q: A company has sales of $389,000 and cost of goods sold of $174,000. What is the gross profit margin?…
A: Explanation of Gross Profit Margin:Gross Profit Margin is a critical profitability metric that…
Q: Choose correct option. for this general account questions.
A: To determine the total liabilities, we use the accounting equation, which states:…
Q: Goodwill upon acquiring summit
A: Step 1: Definition of GoodwillGoodwill is the excess amount paid by an acquiring company over the…
Q: Shown here are annual financial data taken from two different companies. Beginning inventory:…
A: 1. Music World Retail (Merchandising Business)Step 1: Understand the Formula for Merchandising…
Q: Please solve this question general accounting
A: To calculate the amount of investment , we can use the formula for compound interest:A = P (1 +…
Q: What is the equity at the end of the year?
A: Step 1: Use the formula for equity: • Equity = Assets - Liabilities Step 2: Calculate the assets at…
Q: Calculate operating cash flow accounting questions
A: Step 1: Definition of Operating Cash Flow (OCF)Operating Cash Flow (OCF) is the cash generated from…
Q: Calculate the standard cost per unit for ABC company??
A: Step 1: Define Standard costsThe standard costs are determined to calculate the per unit cost of the…
Q: What is the payback period in years for the machine?
A: Step 1: Given Value for Calculation Purchase Price of Machine = p = $76,000Annual Cash Flow = cf =…
Q: I want to correct answer general accounting question
A: Step 1: Definition of Factory OverheadsFactory Overheads are indirect costs incurred during…
Q: A yard =?? cost account.
A: Detailed Explanation: How to Convert Yards to Meters1 yard is a unit of length in the Imperial…
Q: A company had no beginning balance
A: Step 1: Definition of Stockholders' EquityStockholders' equity represents the residual interest in…
Q: Please provide this question solution general accounting
A: Step 1: Calculate Total Amount Received• Stock Value: $200,000• Boot (Company Vehicle): $30,000•…
Q: For the year, your company's sales are $305,000, the gross profit is $250,000, and the ending…
A: To calculate the beginning inventory, we use the formula for cost of goods sold (COGS) and the…
Q: If a company has sales revenue of $120,000, cost of goods sold of $70,000, and operating expenses of…
A: Step 1: Formula Net income = Sales - Cost of goods sold - Operating expenses Step 2: Substitution…
Q: Determine the Return on Total Assets on these general accounting question
A: Step 1:Return on assets is a financial ratio that indicates how efficiently a company earned profits…
Q: Quick answer of this accounting questions
A: Step 1: Definition of Direct Material Price VarianceThe Direct Material Price Variance measures the…
Q: Provide correct option general accounting
A: Step 1: Define Gross ProfitThe gross profit is the overall profit after neglecting the expenses and…
Q: To close the Withdrawals account. A. debit Withdrawals; credit Capital B. debit Capital; credit…
A: Approach to solving the question: To close the Withdrawals account, you should: B. debit Capital;…
Q: Determine the number of units completed
A: Explanation of Beginning Work in Process (WIP):Beginning Work in Process (WIP) refers to the…
Q: Johnson corp purchased
A: Explanation: In the given case, it is stated that the entity purchased a group of assets for…
Q: Question: A companys total liabilities are $247,000, and its equity is $987,000. What are the total…
A: Explanation of Assets:Assets are resources owned by a company that have monetary value and are…
Q: Kindly help me with accounting questions
A: Step 1: Identify indirect manufacturing costsStep 2: Exclude direct costs (e.g., direct materials,…
Q: Expert of general account hrlp me
A: To determine how much depreciation expense will be included in Finished Goods Inventory under…
Q: Solve asap. General Accounting.
A: Step 1: Identify the Taxable Income Formula Step 2: Input the Given Values Step 3: Substitute the…
Q: Need help with this accounting questions
A: Step 1: Definitions of Selling Price: The amount received from selling the asset.Book Value: The net…
Q: Accounting Problem: The markup on a new diamond ring should be 28% based on the selling price. If…
A: Step 1: Selling price = Cost/Cost ratioSelling price = Cost/(Sales ratio - Markup ratio) Step 2:…
Q: Financial accounting question
A: Step 1: Define Savings AccountIt is a recurring account issued by commercial banks where an…
Q: ??
A: Explanation of Predetermined Overhead Rate (POR):The predetermined overhead rate (POR) is a rate…
Q: Myrna and Geoffrey filed a joint tax return in 2017. Their AGI was $85,000, and itemized deductions…
A: To determine how much of the state income tax refund Myrna and Geoffrey must include in their gross…
Q: What was the company's net operating income for the year on these general accounting question?
A: Step 1: Define Return on Investment (ROI)Return on Investment is a financial metric used to measure…
Q: Calculate the gross profit margin?
A: Step 1: Define Gross Profit MarginThe gross profit of a company can be calculated in terms of ratio…
Q: I need answer of this accounting questions
A: Interest revenue = Principal x Annual interest rate x Period 2024 = 6 months (July 1 - December 31,…
Q: Calculate alpine manufacturing total manufacturing overhead
A: Step 1: Definition of Manufacturing OverheadManufacturing overhead includes all indirect costs…
Q: Per unit of each product follows
A: Concept of Selling Price per Unit:The selling price per unit represents the amount a company charges…
Q: Please help me this question general accounting
A: Step 1: Define Units-of-activity MethodThe units-of-activity method of depreciation calculates…
Q: Financial accounting question
A: Step 1: Define Net IncomeNet income is the profit made by a company after deducting the expenses…
Q: Parker company purchased equipment
A: Step 1: Definition of Straight-Line DepreciationThe straight-line depreciation method allocates the…
Please provide answer this accounting problem not use
Step by step
Solved in 2 steps
- Presented below is the balance sheet of Sargent Corporation for the current year, 2020. Sargent CorporationBalance SheetDecember 31, 2020 Current assets $ 485,000 Current liabilities $ 380,000 Investments 640,000 Long-term liabilities 1,000,000 Property, plant, and equipment 1,720,000 Stockholders' equity 1,770,000 Intangible assets 305,000 $3,150,000 $3,150,000 The following information is presented. 1. The current assets section includes cash $150,000, accounts receivable $170,000 less $10,000 for allowance for doubtful accounts, inventories $180,000, and unearned rent revenue $5,000. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. 2. The investments section includes the cash surrender value of a life insurance contract $40,000; investments in common stock, short-term $80,000 and long-term $270,000; and bond sinking fund $250,000. The cost and fair value of investments in common stock are the same. 3.…Prepare a 2020 balance sheet for Jarrow Corp. based on the following information: cash = $135,000; patents and copyrights = $630,000; accounts payable = $214,500; accounts receivable = $110,000; tangible net fixed assets = $1,640,000; inventory = $297,000; notes payable = $140,000; accumulated retained earnings = $1,262,000; long-term debt = $853,000. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.)The 2021 Balance Sheet of Eighty-Five Ltd. show a total of $100,000 in current assets, which is made up of $35,000 (cash), $15,000 (marketable securities), $20,000 (net receivables) and inventories (that make up the difference). If the company’s current liabilities for the year is $55,000, what is its quick ratio? 1.273. 0.780. 1.000. 1.875.
- 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…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)…Worldwide Corp.'s statement of financial position accounts as of December 31, 2023 and 2022 and information relating to 2023 activities are presented below. December 31, 2023 2022 Assets Cash $440,000 $160,000 Short-term investments 800,000 – Accounts receivable (net) 1,150,000 1,270,000 Inventory 1,130,000 1,000,000 Long-term investments 400,000 600,000 Plant assets 3,100,000 2,000,000 Accumulated depreciation (700,000) (900,000) Patent 280,000 300,000 Total assets $6,620,000 $4,430,000 Liabilities and Equity Accounts payable $1,580,000 $1,320,000 Other accrued liabilities 200,000 250,000 Notes payable (nontrade) 560,000 – Common Stock-$10 par 1,600,000 1,400,000 Additional paid-in capital 800,000 500,000 Retained earnings 1,880,000 960,000 Total equity and liabilities $6,620,000 $4,430,000 Information relating to 2023 activities:•Net income for…
- Below is Company A's balance sheet at the end of 2022. What is the gross profits of Company A? 2022 AmountNet sales$1,000.0Variable operating costs 770.0Fixed operating costs 50.0Depreciation and 50.0Interest30.0Taxes20.0Preferred dividends5.0Common dividends25.0 amortization Group of answer choices $130 $230 $180 $1,000Prepare a 2021 balance sheet for Willis Corporation based on the following information: Cash = $128,000; Patents and copyrights = $630,000; Accounts payable = $210,500; Accounts receivable = $100,000; Tangible net fixed assets = $1,620,000; Inventory = $293,500; Notes payable = $165,000; Accumulated retained earnings = $1,276,000; Long-term debt = $846,000. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.)Presented below is the balance sheet of Pina Corporation for the current year, 2020. PINA CORPORATIONBALANCE SHEETDECEMBER 31, 2020 Current assets $ 486,360 Current liabilities $ 381,360 Investments 641,360 Long-term liabilities 1,001,360 Property, plant, and equipment 1,721,360 Stockholders’ equity 1,771,360 Intangible assets 305,000 $3,154,080 $3,154,080 The following information is presented. 1. The current assets section includes cash $151,360, accounts receivable $171,360 less $11,360 for allowance for doubtful accounts, inventories $181,360, and unearned rent revenue $6,360. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. 2. The investments section includes the cash surrender value of a life insurance contract $41,360; investments in common stock, short-term $81,360 and long-term $271,360; and bond sinking fund $247,280. The cost and fair value of investments in common stock are the same.…
- Presented below is the balance sheet of Novak Corporation for the current year, 2020. NOVAK CORPORATIONBALANCE SHEETDECEMBER 31, 2020 Current assets $ 488,570 Current liabilities $ 383,570 Investments 643,570 Long-term liabilities 1,003,570 Property, plant, and equipment 1,723,570 Stockholders’ equity 1,773,570 Intangible assets 305,000 $3,160,710 $3,160,710 The following information is presented. 1. The current assets section includes cash $153,570, accounts receivable $173,570 less $13,570 for allowance for doubtful accounts, inventories $183,570, and unearned rent revenue $8,570. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. 2. The investments section includes the cash surrender value of a life insurance contract $43,570; investments in common stock, short-term $83,570 and long-term $273,570; and bond sinking fund $242,860. The cost and fair value of investments in common stock are the…Sunland Corporation reports the following information for 2026: Net cash provided by operating activities Average current liabilities Average long-term liabilities Dividends declared Capital expenditures Payments of debt Sunland's cash debt coverage is 1.45. 3.59. 2.52. 3.42. $362500 144000 106000 55000 101000 3600017
