The balance sheet for Simmons Corporation reported the following: Non-current assets: $160,000 • Total assets: $420,000 . Non-current liabilities: $270,000 . Total stockholders' equity: $95,000 Required: Compute Simmons' working capital.
Q: What is the total period cost for the month?
A: Explanation of Variable Costing: Variable costing is a method of product costing that only includes…
Q: What is the predetermined overhead rate of this financial accounting question?
A: Step 1: Definition of Predetermined Overhead RateThe Predetermined Overhead Rate (POHR) is an…
Q: Ajani Company has variable costs equal to 35% of sales. The company is considering a proposal that…
A: Concept of Contribution Margin RatioThe contribution margin ratio represents the percentage of sales…
Q: Provide correct answer please
A: Step 1: Define Asset DisposalLong-term investments in physical assets are either sold or scrapped at…
Q: can you please this
A: Inventory Holding Cost Calculation:Formula: Holding Cost % = (Total Holding Costs ÷ Average…
Q: Don't use ai given answer accounting questions
A: To calculate the pension expense for Wilson Manufacturing in 2024, we use the pension expense…
Q: ?!
A: Step 1: Introduction to factory overheadsFactory overheads are defined as indirect costs that are…
Q: What is the opereting cash flow. Provide answer please
A: To calculate the Operating Cash Flow (OCF), we use the formula:OCF=EBIT+ Depreciation −TaxesStep 1:…
Q: best answer me
A: Step 1: Definition of Equivalent UnitsEquivalent units represent the number of fully completed units…
Q: What is the amount of budgeted direct labor cost?
A: Explanation of Direct Labor Cost: This represents the cost of wages paid to workers who directly…
Q: help me to solve this questions
A: The Gross Profit Margin is a financial metric that shows the percentage of revenue that exceeds the…
Q: How much of their social security is included in gross income?
A: To determine how much of Tom and Judy's Social Security benefits are included in their gross income,…
Q: Quick answer of this accounting questions
A: Calculation of Total Inventoriable Cost (using Absorption Costing)Total Inventoriable Cost = Direct…
Q: What is the best estimated of the total monthly fixed manufacturing cost ?
A: Step 1: Definition of Fixed Manufacturing Cost Using the High-Low MethodThe high-low method is used…
Q: chose best answer me
A: Step 1:The total cost of the cases completed during the period can be calculated by multiplying the…
Q: Provide correct answer this general accounting question not use ai please don't
A: Step 1: Define Manufacturing Overhead AppliedManufacturing Overhead Applied refers to the portion of…
Q: Can you help me with accounting questions
A: Step 1: Definition of Markup and Markup PercentageMarkup is the difference between the selling price…
Q: MCQ
A: Given:ROA = 5%Sales = $150Total assets = $200 Formula:Profit margin = Net income / Sales * 100Net…
Q: Hi experts please answer the financial accounting question
A: Step 1: Define Cash Flow from Operations (CFO)Cash Flow from Operations (CFO), also known as…
Q: help me to solve this questions
A: Step 1: Introduction to cost accountingThe field of accounting known as cost accounting is utilized…
Q: A manufacturer sells a product for $45 to a wholesaler, and the wholesaler sells it to a retailer.…
A: Concept of Selling PriceSelling price refers to the amount at which a product is sold to the next…
Q: Need help this question solution
A: I have given the correct answer for the question with proper steps and formula. Kindly check it…
Q: What is the Equity Ratio for this general accounting question?
A: Step 1: Definition of Equity RatioThe Equity Ratio measures the proportion of a company's total…
Q: Total fixed cost when nothing is produced?
A: Explanation of Fixed Cost:Fixed cost refers to the expenses that remain constant regardless of the…
Q: none
A: Operating Cash Flow = EBIT + Depreciation - TaxesHere are the steps:1. Start with EBIT (Earnings…
Q: 4 PTS
A: Explanation of Accounts Receivable Turnover: Accounts receivable turnover is a financial ratio that…
Q: Subject: financial accounting
A: Step 1: Define Inventory Turnover and Average Days to Sell InventoryInventory Turnover measures how…
Q: Financial Accounting 13
A: Concept of Total AssetsTotal assets represent everything a company owns that has economic value and…
Q: A firm purchases machinery, which has an estimated useful life of 14 years and no salvage value, for…
A: An adjusting entry is a journal entry made at the end of an accounting period to record revenues and…
Q: Please find the correct answer
A: Step 1: Definition of High-Low MethodThe High-Low Method is a technique used to separate fixed and…
Q: best answer
A: Step 1: Given Value for Calculation Earning Before Interest and Taxes = EBIT = $1110Depreciation = d…
Q: Compute the gain recognized
A: Explanation of Gain on Sale of Equipment:The gain on sale of equipment occurs when an asset is sold…
Q: I want to correct answer general accounting question
A: Step 1: Definition of Overhead ApplicationOverhead application refers to the process of assigning…
Q: On January 1, Trump Financial Services lends a corporate client $180,000 at an 8% interest rate. The…
A: The problem pertains to accrual of interest.In finance, accrued interest refers to the interest that…
Q: answer general accounting
A: Step 1: Definition of Straight-Line DepreciationThe straight-line depreciation method allocates the…
Q: The Aakash Company forecasts that total overhead for the current year will be $17,000,000 and total…
A: Concept of Predetermined Overhead RateThe predetermined overhead rate is a calculation used by…
Q: answer plz
A: Step 1: Definition of Accounting EquationThe elements of accounting are impacted each time a…
Q: find operating cash floe.
A: To calculate the Operating Cash Flow (OCF), we can use the formula: OCF= EBIT + Depreciation −Taxes…
Q: Need step by step answer
A: We are given the following information about Nelson Industries:Inventory Conversion Period (ICP): 45…
Q: Sales revenue 250000, COGS 170000
A: Step 1: Net sales Net sales = Sales revenue - Sales discounts - Sales returns & allowancesNet…
Q: Company recognize in the second year?
A: Step 1: Definition of Installment Sales MethodThe installment sales method is an accounting method…
Q: The Pilot Corporation had 17,000 shares of common stock outstanding on January 1 and issued an…
A: Concept of Common Shares OutstandingCommon Shares Outstanding refers to the total number of shares…
Q: none
A: Step 1: Definition of Total AssetsWe classify total assets into current and fixed assets per the…
Q: Timberline Corporation, which manufactures wooden furniture, is developing direct labor standards.…
A: Explanation of Direct Labor Rate:The direct labor rate refers to the hourly wage paid to employees…
Q: Subject: financial accounting
A: Explanation of Operating Profit Margin: Operating profit margin is a financial metric that measures…
Q: What is its ROE
A: Step 1: Calculate Total Asset Turnover Step 2: Apply the ROE formulaStep 3: Substitute the given…
Q: Please give me true answer this financial accounting question
A: Step 1: Definition of Stock Price Valuation Using the Price-to-Earnings (P/E) RatioThe…
Q: need this help me
A: Approach to solving the question:Freeform Detailed explanation: Step 1: Identify the High and Low…
Q: provide financial accounting
A: Step 1: Definition of Receivables TurnoverThe accounts receivable turnover ratio measures how…
Q: Companys projected benefit obligation during the year?
A: Explanation of Projected Benefit Obligation (PBO):Projected Benefit Obligation (PBO) represents the…
The
Step by step
Solved in 2 steps
- The following information was taken from Slater Company's balance sheet: Fixed assets (net) $1,741,392 Long-term liabilities 417,600 Total liabilities 591,040 Total stockholders' equity 1,847,000 Determine the company's (a) ratio of fixed assets to long-term liabilities, and (b) ratio of liabilities to stockholders' equity. Round your answers to one decimal place. a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equityThe following information was taken from Charu Company's balance sheet: Line Item Description Amount Fixed assets (net) $1,176,000 Long-term liabilities 280,000 Total liabilities 960,000 Total stockholders’ equity 320,000 Determine the company's (a) ratio of fixed assets to long-term liabilities and (b) ratio of liabilities to stockholders' equity. If required, round your answers to one decimal place. Line Item Description Ratio a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equityThe following information was taken from Station Company's balance sheet: Line Item Description Amount Fixed assets (net) $940,800 Long-term liabilities 192,000 Total liabilities 1,209,600 Total stockholders' equity 672,000 Determine the company's (a) ratio of fixed assets to long-term liabilities and (b) ratio of liabilities to stockholders' equity. If required, round your answers to one decimal place. Line Item Description Ratio a. Ratio of fixed assets to long-term liabilities fill in the blank 1 b. Ratio of liabilities to stockholders' equity
- Coastal's balance sheet for a recent year revealed the following information Current assets Noncurrent assets Noncurrent liabilities $ 820,000 550,000 320,000 480,000 Stockholders' equity Required: Determine the amount of working capital reported in the balance sheet. Working capitalThe 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?Examine the following selected financial information for Best Value Corporation and Modern Stores, Inc., as of the end of their fiscal years ending in 2018: Data table (In millions) Best Value Corporation Modern Stores, Inc. 1. Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . $15,256 $203,110 2. Total common stockholders' equity. . . . . $3,075 $71,460 3. Operating income. . . . . . . . . . . . . . . . . . . . $1,350 $26,820 4. Interest expense. . . . . . . . . . . . . . . . . . . . . . $88 $2,020 5. Leverage ratio. . . . . . . . . . . . . . . . . . . . . . . . 6. Total debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. Debt ratio. . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. Times interest earned. . . . . . . . . . . . . . . . . Requirements…
- The following information was taken from Slater Company's balance sheet: Fixed assets (net) $2,258,704 Long-term liabilities 576,200 Total liabilities 819,420 Total stockholders' equity 1,951,000 Round your answers to two decimal places. a. Determine the company's ratio of fixed assets to long-term liabilities.fill in the blank 1 b. Determine the company's ratio of liabilities to stockholders' equity.fill in the blank 2 Richards Corporation had net income of $307,767 and paid dividends to common stockholders of $52,700. It had 59,300 shares of common stock outstanding during the entire year. Richards Corporation's common stock is selling for $53 per share. The price-earnings ratio (rounded to two decimal places) is a.10.21 times b.11.25 times c.11.76 times d.9.18 timesSunland's financial statements contained the following selected data (in millions). Current assets $3,618.0 Total assets 28,500.0 Current liabilities 5,400.0 Total liabilities 11,115.0 Interest expense $300.0 Income tax expense 1,170.0 Net income 1,332.0 Compute the following values. (Round current ratio and times interest earned to 2 decimal places, e.g. 6.25:1 or 2.66 and debt to assets ratio to O decimal places, e.g. 25%.) (a) Current ratio 0.67 :1 (b) Debt to assets ratio 39 % (c) Times interest earned 9.34 timesPrepare a balance sheet for Cornell Corp. based on the following information: cash = $120,000; accounts payable & accruals = $200,000; accounts receivable = $105,000; net fixed assets = $1,750,000; inventory = $290,000; notes payable = $160,000; Retained Earninigs = $660,000; Common Stock (par value+paid in Cap) = $400,000. Prepare the balance sheet. Calculate the long term debt of the firm. Calculate the NWC (Net Working Capital) and Debt to Equity (D/E) ratio.
- The following information was taken from Slater Company's balance sheet: Fixed assets (net) $1,718,248 Long-term liabilities 402,400 Total liabilities 1,152,480 Total stockholders' equity 2,401,000 Round your answers to two decimal places. a. Determine the company's ratio of fixed assets to long-term liabilities.fill in the blank 1 b. Determine the company's ratio of liabilities to stockholders' equity.fill in the blank 2Please fill out vertical analysis of this balance sheet to determine component percentage of assets liabilities and stockholders equity based on data. Round percentages to the nearest hundredths percentPresented below is information available for Bestfit Company. Current Assets Inventories $110,000 Prepaid expenses 30,000 Accounts receivable 61,000 Short-term investments 75,000 Cash 4,000 Total current assets $280,000 Total current liabilities are $120,000. The acid-test ratio for Bestfit is Select one: a. 0.54 to 1. O b. 2.08 to 1. O c. 1.17 to 1. O d. 2.33 to 1.
