The following are some of the year-end balances of Tyagi Company:20X120X0Unbilled Revenue 1,800 2,100Interest Receivable 680 570Unearned revenue 1,600 1,100Prepaid Rent7,900 5,900Salaries Payable 8501,200810 730Interest PayableThe cash flow statement for 20X1 has the following information:Fees received21,710Interest received 2,030Rent paid11,600Salaries paid6,820Interest paid1,840Compute the following for 20X1:a) Fee revenueb) Interest incomec) Rent expensed) Salaries expense

c) Rent ExpenseRent expense is calculated as:Rent Expense=Rent Paid+Ending Prepaid Rent−Beginning…

Answered: The following are some of the year-end…

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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Selected accounts are listed below. How much is the firm's operating income? accrued payroll $2,000 sales 45,000 cost of goods sold 26,000 interwst expense 1,000 expenses ( other than interest) 8,000
Refer to the 10-K for Abercrombie & Fitch. Required: 1. What does the company report for the following accounts for the most current fiscal year: Enter your answer in thousands. a. Cash b. Short-term investments (or marketable securities) c. Accounts receivable d. Inventory e. Other current assets f. Accounts payable g. Other current liabilities h. Cash flow from operations A A AA A A 好 2. The company projects the following to occur in the next fiscal year: • Accounts payable will decrease by 25%. • Other current liabilities are expected to increase by 33%. • Cash flow from operations is expected to decrease by 32%. Assume all other items remain unchanged from the prior year. Provide the next year's forecasted balances for the following accounts and cash flow from operations.
Selected information from the comparative financial statements of AppleVerse Company for the year ended December 31 appears below: 2018 2017 Php Php Accounts receivable (net) 175,000 200,000 Inventory 130,000 150,000 Total assets 1,100,000 800,000 Current liabilities 140,000 110,000 Long-term debt 410,000 300,000 Net credit sales 800,000 700,000 Cost of goods sold 600,000 530.000 Interest expense 40.000 25,000 Income tax expense 60.000 29,000 Net income 150.000 85,000 Net cash provided by operating 220,000 135,000 activities Compute for the Receivables Turnover for 2018. O 2.13 O 4.27 O 5.95 O 3.23
From the following information, calculate current ratio. Trade receivables (debtors) 1, 00,000 Bills payable 20,000 Prepaid Expenses 10,000 Sundry Creditors 40,000 Cash and cash equivalents 30,000 Debentures 2,00,000 Short term investments 20,000 Inventories 40,000 Machinery 7,000 Expenses Payable 40,000
Question: How much is the total cash received from the financing of receivables? Round off to the nearest whole number.
The following is selected financial data from Block Industries: Cash $20,000 Accounts receivable 13,400 Equipment 10,650 Prepaid expenses 5,000 Accounts payable 12,300 Unearned revenue 7,500 Long-term notes payable 10,000 Common stock 18,000 Revenue 11,700 Sales tax payable 6,000 Interest expense 4,500 Depreciation expense 1,000 How much does Block Industries have in current liabilities? A.$12,300 B.$25,800 C.$18,300 D.$19,800
Presented below are certain account balances of Splish Products Co. Rent revenue $6,810 Sales discounts $8,080 Interest expense 13,280 Selling expenses 99,900 Beginning retained earnings 114,710 Sales revenue 404,200 Ending retained earnings 134,920 Income tax expense 26,028 Dividend revenue 71,170 Cost of goods sold 200,378 Sales returns and allowances 12,960 Administrative expenses 79,380 Allocation to noncontrolling interest 20,680 From the foregoing, compute the following: (a) total net revenue, (b) net income, (c) income attributable to controlling stockholders, if Splish has allocation to noncontrolling interest of $20,680. (a) Total net revenue $enter total net revenue in dollars (b) Net income $enter net income in dollars (c) Income attributable to controlling stockholders $enter income attributable to controlling stockholders in dollars
Show the current ratio with formulas
Problem 1: RM Company disclosed the following information on December 31, 2021: Accrued rent expense Share dividends payable Accounts receivable, after deducting credit balances of customers' accounts amounting to P42, 500 Estimated premium liability Cash in bank, net of bank overdraft of P22,650 Deferred tax liability Accounts payable, net of debit balances in suppliers' accounts amounting to P8,310 Unearned interest income 54,000 750,000 179,300 65,800 481,900 215,500 95,420 225,000 1,500,000 Mortgage payable, issued on March 1, 2012, maturing after 10 years Notes payable due to bank, 12% interest bearing note payable yearly, issued on August 31, 2021, maturing on August 31, 2022 Cash dividends payable SSS payable Serial bonds payable in 5 yearly installment of P250,000 payable every October 31 Estimated damages because of a supposed unsatisfactory „performance on a contract, a possible obligation Income tax payable Notes payable 1,000,000 520,000 57,100 1,250,000 75,000 138,500…
A company reports the following: Sales $572,320Average accounts receivable (net) 20,440
The following items are reported on a company's balance sheet: Cash $579,700 Marketable securities 452,900 Accounts receivable (net) 520,200 Inventory 258,800 Accounts payable 647,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place. a. Current ratio b. Quick ratio
From the following information, calculate - 1. Trade receivables turnover ratio 2. Average collection period 3. Trade payable turnover ratio Given: Revenue from Operations 8,75,000 Creditors 40,000 Bills receivable 48,000 Bills payable 2,000 Purchases 4,20,000 Trade debtors 59,000

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