What is the amount of current assets ?? The following financial information is from MAKA Construction Company.Accounts payableBuildingsCashAccounts receivableSales tax payableRetained earningsSupplies$14,50085,00011,60010,0002,90046,40041,800Notes payable (due in 18 months) 26,000Interest payableCommon stock1,00057,600What is the amount of current assets, assuming the accounts abovereflect normal activity?

Provided Data:Accounts payable: $14,500Buildings: $85,000Cash: $11,600Accounts receivable:…

Answered: The following financial information is…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 19BEA

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Prepare the income statements and balance sheets for years 2018 and 2019 for Thompson Company using the following information. The balance sheet numbers are at the end of year figures.Item20182019Accounts Payable120.0150.0Accounts Receivable150.0180.0Accumulated Depreciation330.0360.0Cash & Cash Equivalents10.012.0Common Stock150.0200.0Cost of Goods Sold750.0850.0Depreciation25.030.0Interest Expense30.033.0Inventory200.0180.0Long-term Debt150.0150.0Gross Plant & Equipment650.0780.0Retained Earnings208.5225.0Sales1,500.01,700.0SG&A Expenses500.0570.0Notes Payable51.567.0Tax Rate21%21%(2) Answer the following questions:(a) How much did Thompson Company spend in acquiring fixed assets in 2019?(b) How much dividend did Thompson Company pay out during 2019?(c) Using the end of year numbers, did the long-term solvency ratios improve or deteriorate from 2018 to 2019? Answer this question using at least two long-term solvency ratios.(d) Using the end of year numbers, did the asset…
Category Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year ??? ??? 320,715 397,400 40,500 33,750 500,000 541,650 17,500 47,500 94,000 105,000 328,500 431,876.00 33,750 35,000 54,000 54,402.00 40,500 42,823.00 279,000 288,000 339,660.00 398,369.00 946,535 999,000 148,500 162,000 126,000 162,881.00 306,000 342,000 639,000 847,928.00 24,750 47,224.00 What is the current year's return on assets (ROA)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))
Given the data in the following table, accounts receivable in 2023 was…
Category Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year 3,106.00 5,972.00 6,919.00 8,940.00 5,691.00 6,099.00 20,212.00 13,343.00 ??? ??? 2,850 18,751.00 500 2,850 22,826.00 500 965.00 1,016.00 1,259.00 1,123.00 3,086.00 6,750.00 16,982.00 22,296.00 75,731.00 73,844.00 4,053.00 6,596.00 19,950 20,000 35,937.00 34,762.00 46,360 45,530.00 350 920 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.
Cullumber company has these comparative balance sheet data:
Calculate the following for Co. XYZ: c. Average collection period (365 days) d. Times interest earned Assets: Cash and marketable securities $400,000Accounts receivable 1,415,000Inventories 1,847,500Prepaid expenses 24,000Total current assets $3,686,500Fixed assets 2,800,000Less: accumulated depreciation 1,087,500Net fixed assets $1,712,500Total assets $5,399,000Liabilities: Accounts payable $600,000Notes payable 875,000Accrued taxes Total current liabilities $1,567,000Long-term debt 900,000Owner's equity Total liabilities and owner's equity Co. XYZ Income Statement: Net sales (all credit) $6,375,000Less: Cost of goods sold 4,375,000Selling and administrative expense 1,000,500Depreciation expense 135,000Interest expense Earnings before taxes $765,000Income taxes Net income Common stock dividends $230,000Change in retained earnings
Given the data in the following table, the entry for Inventories on the 2023 common-sized balance sheet was %.
Data extracts from Gamma's accounts are shown below Turnover Gross Profit Expenses Operating Profit Interest and Tax Profit for Year Non-current assets Inventory Receivables Cash at Bank Payables Other Current Liabilities Net current assets Shareholder funds 10% Debenture (2030) Required: Ye-Dec-20 Ye-Dec-19 18,500 16,000 4,500 4,000 1,500 2,400 3,000 1,600 1,100 700 1,900 900 19,600 16,400 840 640 2,790 1,890 450 350 830 570 340 460 2,910 1,850 15,510 13,250 7,000 5,000 22,510 18,250 A) Calculate the following accounting ratios for each year-end 1) Return on Capital Employed 2) Profit Margin on Sales 3) Gearing Ratio 4) Interest Cover Ratio 5) Return to Shareholders 6) Quick Asset or Acid test Ratio 7) Cash Conversion Period (Operating Cash Cycle) B) Outline the limitations of accounting ratios
Use the below information to answer the following question. Sales Cost of goods sold Depreciation Income Statement For the Year Taxable income Taxes Earnings before interest $4,500 and taxes Interest paid Net income Dividends $900 Balance Sheet End-of-Year Cash Accounts receivable Inventory Total current assets Net fixed assets Total assets Accounts payable Long-term debt Common stock ($1 par value) Retained earnings O O O O Total Liab. & Equity 33 percent 40 percent 50 percent $28,400 60 percent 21,200 2,700 67 percent 850 $3,650 1,400 $2,250 $550 2,450 4,700 $7,700 What was the retention ratio? 16,900 $24,600 $ 2,700 9,800 8,000 4,100 $24,600
Presented below are a number of balance sheet items for Swifty, Inc. for the current year, 2025. Goodwill Payroll taxes payable Bonds payable Discount on bonds payable Cash Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Notes payable (long-term) $ 127,870 Accumulated depreciation-equipment Inventory 180,461 302,870 15,320 362,870 482,870 448,570 267,870 492,870 ? 100,500 1,602,870 Rent payable (short-term) Income taxes payable Rent payable (long-term) Common stock, $1 par value Preferred stock, $10 par value Prepaid expenses Equipment Debt investments (trading) Accumulated depreciation-buildings Buildings $292,320 242,670 47,870 101,232 482,870 202,870 152,870 90,790 1,472,870 123,870 270,520 1,642,870 Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated…
The following is a partial listing of accounts for XYZ, Inc., for the year ended December 31, 2020. Required: Prepare multiple step income statement for the year of 2020. Finished Goods Current Maturities of Long-Term Debt Accumulated Depreciation Accounts Receivable $ 38,872 2,515 19,960 Sales Revenue 6,273 127,260 Treasury Stock 251 Prepaid Expenses 2,199 Deferred Taxes (long-term liability) 8,506 Interest Expense 2,410 Allowance for Doubtful Accounts 915 Retained Earnings 18,951 Raw Materials 9,576 Accounts Payable 19,021 Cash and Cash Equivalents 8,527 Sales Salaries Expense 872 Cost of Goods Sold 82,471 Investment in Unconsolidated 3,559 Subsidiaries Income Taxes Payable 8,356 Work In Process 1,984 Additional Paid-In Capital 9,614 Equipment 41,905 Long-Term Debt 15,258 Rent Income 2,468 Common Stock 3,895 Notes Payable (short-term) 6,156 Income Tax Expense 2,461
Category. Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 429,735.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,152.00 Interest expense 40,500 42,662.00 Inventories 279,000 288,000 Long-term debt 339,349.00 400,985.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,641.00 Retained earnings 306,000 342,000 Sales 639,000 848,846.00 Тахes 24,750 47,931.00

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