Please provide correct solution this financial accounting question The balance sheets at the end of each of the first two years of operations indicate the following:20162015Total current assets$600,000 $560,000Total investments$60,000 $40,000Total property, plant, and equipment$900,000 $700,000Total current liabilities$125,000 $80,000Total long-term liabilities$350,000 $250,000Preferred 9% stock, $100 par$100,000 $100,000Common stock, $10 par$600,000 $600,000Paid-in capital in excess of par-Common stock $60,000 $60,000Retained earnings$325,000 $210,000Based on the above information, if net income is $130,000 and interest expense is $40,000 for 2016, and the marketprice is $40, what is the price-earnings ratio on common stock?A. 19.8B. 18.4C. 17.3D. 14.9

Step 1: Define Preferred DividendThe dividend paid to the preferred stockholders is called a…

Answered: The balance sheets at the end of each…

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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The financial statements of Hainz Company appear below: HAINZ COMPANYComparative Balance SheetDecember 31 Assets 2020 20169 Cash $20,000 $40,000 Short-term investments 20,000 60,000 Accounts receivable (net) 40,000 30,000 Inventory 60,000 70,000 Property, plant and equipment (net) 260,000 300,000 Total assets $400,000 $500,000 Liabilities and stockholders' equity Accounts payable $20,000 $30,000 Short-term notes payable 40,000 90,000 Bonds payable 80,000 160,000 Common stock 150,000 150,000 Retained earnings 110,000 70,000 Total liabilities and stockholders' equity $400,000 $500,000 HAINZ COMPANYIncome StatementFor the Year Ended December 31, 2020 Net sales $400,000 Cost of goods sold 250,000 Gross profit 150,000 Expenses Operating expenses $42,000 Interest expense 18,000 Total expenses 60,000 Income before…
Select information from BUI Balance Sheets as of December 31 Current Assets Net Plant and Equipment Total Assets Accounts Payable Notes Payable Accruals Long-Term Bonds Total Common Equity Total Liabilities & Equity Income Statement Earnings before interest and taxes Depreciation and Amortization Interest Taxes 40% Net Income Other Information WACC Number of shares outstanding Price per share What was 2014 EVA? $0 $197,600 $140,000 $57,600 2013 1,200,000 900,000 2,800,000 2,700,000 4,000,000 3,600,000 2014 200,000 216,000 280,000 108,000 120,000 252,000 1,040,000 864,000 2,360,000 2,160,000 4,000,000 3,600,000 2014 1,200,000.0 140,000.0 104,000.0 438,400.0 657,600.0 2014 18.00% 80,000 $22.13
Find the Gross fixed assets and Accumulated depreciation
Some selected financial statement items belonging to MNO Company are given in the table below. According to this information, which of the following is Return on Assets (ROA) in 2021? Inventory 12,500Total Assets in 2021 110,000Current Liabilities 40,000Total Assets in 2020 90,000Net Profit 12,000Shareholders' Equity 65,000 Select one:a. 0.12b. 0.10c. 0.18d. 0.13
Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $ 122,000 $ 100,000 Plant assets (net) 395,456 334,000 Current liabilities 87,764 74,000 Long-term liabilities 129,096 88,000 Common stock, $1 par 166,430 110,000 Retained earnings 134,166 162,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.)
WAG PAPALOKO Inc. has the following balance sheet on January 1, 2018, which is the date of acquisition: Assets Liabilities and Equity Accounts Receivable 79,000 Current Liabilities 145,000 Inventory 112,000 Long-term notes 100,000 Other current assets 55,000 Ordinary share, P1 par 50,000 Equipment (net) 294,000 Share premium 200,000 Goodwill 30,000 Retained earnings 75,000 Total assets 570,000 Total liabilities and equity 570,000 On January 1, 2018, WAG PAPATINAG Corp. acquired the net assets of WAG PAPALOKO Inc. by issuing 7,000 shares of its P25 par value common stock. Subsequently, WAG PAPALOKO Inc. was liquidated and its assets and liabilities merged into WAG PAPATINAG Corp. WAG PAPATINAG Corp. and WAG PAPALOKO Inc. stocks were selling for P40 per share and P6 per share, respectively on January 1, 2018. The book values of WAG PAPALOKO Inc.’s identifiable assets and liabilities equaled their…
Financial information for Kurzen INC. is presented below. December 31, 2017 December 31, 2016 Current assets $125,000 $100,000 Plant assets (net) 396,000 330,000 Current liabilities 91,000 70,000 Long - term liabilities 133,000 95,000 Common stock, $1 par 161,000 115,000 Retained earnings 136,000 150,000 Instructions: Prepare a schedule showing a horizontal analysis for 2017 using 2016 as the base year?
On January 1, 2020, Jack and Jill Companies had condensed balance sheets as shown below: Jack Jill Company Company Current Assets $1,000,000 $ 500,000 Plant and Equipment (Net) 1,500,000 900,000 $2,500,000 $1,400,000 Current Liabilities $ 200,000 $ 175,000 Long-Term Debt 300,000 200,000 Common Stock, $5 par 1,400,000 400,000 Paid-in Capital in Excess of Par 0 125,000 Retained Earnings 600,000 500,000 $2,500,000 $1,400,000 Required: Record the acquisition of Jill’s net assets, the issuance of the stock and/or payment of cash, and payment of the related costs. Assume that Jack issued 15,000 shares of new common stock with a fair value of $15 per share and paid $400,000 cash for all of the net assets of Jill. Acquisition costs of $25,000 and stock issuance costs of $10,000 were paid in cash. Current assets had a fair value of $525,000, plant and equipment had a fair…
On January 1, 2020, Jack and Jill Companies had condensed balance sheets as shown below: Jack Jill Company Company Current Assets $1,000,000 $ 500,000 Plant and Equipment (Net) 1,500,000 900,000 $2,500,000 $1,400,000 Current Liabilities $ 200,000 $ 175,000 Long-Term Debt 300,000 200,000 Common Stock, $5 par 1,400,000 400,000 Paid-in Capital in Excess of Par 0 125,000 Retained Earnings 600,000 500,000 $2,500,000 $1,400,000 Required: Record the acquisition of Jill’s net assets, the issuance of the stock and/or payment of cash, and payment of the related costs. Assume that Jack issued 60,000 shares of new common stock with a fair value of $15 per share and paid $400,000 cash for all of the net assets of Jill. Acquisition costs of $25,000 and stock issuance costs of $10,000 were paid in cash. Current assets had a fair value of $525,000, plant and equipment had a fair value…
Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $123,000 $100,000 Plant assets (net) 395,214 331,000 Current liabilities 88,134 74,000 Long-term liabilities 136,840 88,000 Common stock, $1 par 166,026 118,000 Retained earnings 127,214 151,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) GLITTER INC.Condensed Balance SheetsDecember 31 Increase or (Decrease) 2020 2019 Amount Percentage Assets Current assets $123,000 $100,000 $enter a dollar amount enter a percentage number rounded to 1 decimal place % Plant assets (net) 395,214 331,000 enter a dollar…
The balance sheets at the end of each of the first two years of operations indicate the following: 2011 $560,000 40,000 2012 $600,000 60,000 900,000 125,000 350,000 100,000 600,000 75,000 310,000 Total current assets Total investments Total property, plant, and equipment Total current liabilities 700,000 65,000 250,000 100,000 600,000 75,000 Total long-term liabilities Preferred 9% stock, $100 par Common stock, $10 par Paid-in capital in excess of par-common stock Retained earnings 210,000
Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $123,000 $100,000 Plant assets (net) 394,471 329,000 Current liabilities 88,430 74,000 Long-term liabilities 128,140 86,000 Common stock, $1 par 166,600 119,000 Retained earnings 134,301 150,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) GLITTER INC. Condensed Balance Sheets December 31 Increase or (Decrease) 2020 2019 Amount Percentage

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