Use the following end-of-period spreadsheet below to answer the question that follow.Finley CompanyEnd-of-Period SpreadsheetFor the Year Ended December 31Adjusted Trial Balance Income Statement Balance SheetAccount TitleDr.Cr.Dr.Cr.Dr.Cr.Cash16,00016,000Accounts Receivable6,0006,000Supplies2,0002,000Equipment19,00019,000Accumulated DepreciationAccounts PayableWages PayableC. Finley, CapitalC. Finley, Drawing1,000Fees Earned21,815Wages Expense6,609Rent Expense5,769Depreciation Expense78,1936,00010,0002,00017,56542,62878,19321,8156,6095,76934,1936,00010,0002,00017,5651,00042,62842,628 44,000 35,565 The ending balance in C. Finley, Capital isOa. $8,435Ob. $25,000Oc. $25,685Od. $17,565

Financial accounting refers to the type of accounting which is primarily used by the outsiders to…

Answered: The ending balance in C. Finley,…

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 following information is available for Kiss Company: $101,500 $ 95,000 $ 42,500 $ 25,500 Sales Operating expenses Operating assets Stockholder's equity Cost of capital 8% What is Kiss Company's residual income? O $3,100. O $2,040. O $4,460. O $3,400.
Sales : $250,000Costs : $134,000Depreciation : $10,200Operating expenses : $6,000Interest expenses : $20,700Taxes : $18,420Dividends : $10,600Addition to Retained Earnings : $50,080Long term debt repaid : $9,300New Equity issued : $8,470New fixed assets acquired : $15,000 You are required to:i) Calculate the operating cash flow ii) Calculate the cash flow to creditors iii) Calculate the cash flow to shareholders
X Company reports these account balances on December 31, 2021 Accounts Payable Accounts Receivable Accumulated depreciation $450,000 150.000 180,000 600,000 80.000 300,000 Cash Drawings Operating Expenses Goodwill 90,000 000 080 Service Revenne Owner's capital Unearmed Service Reventie S00,000 720.000 50,000
K If the owner's equity is $135,000 and total liabilities are $90,000, then total assets would be OA. $90,000 OB. $225,000 OC. $45,000 OD. $135,000
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A-7
($ thousands) Present value at 19% Net cash flow Net present value 0 1 4 -13,700 -1,594 -13,700 -1,339 3,541 (sum of PVs). Period 2 3 6 3,057 6,433 10,644 10,095 5,867 2,159 3,817 5,308 4,230 2,066 5 7 3,379 1,000 Restate the above net cash flows in real terms. Discount the restated cash flows at a real discount rate. Assume a 19% nominal rate and 11% expected inflation. NPV should be unchanged at +3,541, or $3,541,000. Note: Negative answers should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers in thousands rounded to the nearest whole number. Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Real Net Cash Flows NPV
Date Accounts Debit Credit Cash 145,000 a. Accounts Receivable 145,000 b. Selling and Administrative Expenses 32,000 Cash 32,000 Accounts Payable 39,000 C. Cash 39,000 d. Raw Materials Inventory 28,200 Accounts Payable 28,200 Work-in-Process Inventory Manufacturing Overhead 8,850 e. 1,200 Raw Materials Inventory 10,050 Work-in-Process Inventory Manufacturing Overhead f. 20,600 18,400 Wages Payable 39,000 Wages Payable 38,700 g. Cash 38,700 h. Manufacturing Overhead 2,500 Accumulated Depreciation 2,500 Work-in-Process Inventory 16,480 i. Manufacturing Overhead 16,480 j. Finished Goods Inventory 47,430 Work-in-Process Inventory 47,430 k. Accounts Receivable 104,000 Sales Revenue 104,000 k. Cost of Goods Sold 47,430 Finished Goods Inventory 47,430 L. Cost of Goods Sold 5,620 Manufacturing Overhead 5,620
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Time left 0:43:13 Y Pty. Ltd. has assessable income of $100,000, deductions of $15,000 and tax offsets of $500. What is Y Pty. Ltd.'s tax payable for the year assuming a corporate tax rate of 25%? ut of O a. $21,200 O b. $25,500 O c. $20,750 O d. $25,000
A7 please help....
A company has sales of $38,000, costs of $21,670, addition to retained earnings of $2,990, dividends paid of $810, interest expense of $1,300, and a tax rate of 23 percent. What is the amount of the depreciation expense? Multiple Choice O $10,095 O O $10,220 $11,395 $15,030

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The ending balance in C. Finley, Capital is Oa. $8,435 Ob. $25,000 Oc. $25,685 Od. $17,565