The following financial information is from Shovels 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 above reflect normal activity?

Step 1: Identify the items classified as current assets:• Accounts receivable• Cash• Supplies Step…

Answered: The following financial information is…

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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JPJ Corp has sales of $1.00 million, accounts receivable of $50,000, total assets of $5.00 million (of which $3.00 million are fixed assets), inventory of $150,000, and cost of goods sold of $600,000. What is JPJ's accounts receivable days? Fixed asset turnover? Total asset turnover? Inventory turnover? What is JPJ's accounts receivable days? JPJ's accounts receivable days are days. (Round to two decimal places)
Refer to the following selected financial information from Texas Electronics. Compute the company's accounts receivable turnover for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 38,300 $ 33,050 98,000 64,000 89,500 83,500 125,000 129,000 12,900 10,500 392,000 342,000 109,400 111,800 715,000 680,000 394,000 379,000
The following information pertains to Dallas Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments $41,706 Accounts receivable (net) 32,359 Inventory 33,536 Property, plant, and equipment 244,092 Total Assets $351,693 Liabilities and Stockholders' Equity Current liabilities $67,811 Long-term liabilities 92,969 Common stock, $20 par 125,380 Retained earnings 65,533 Total Liabilities and stockholders' equity $351,693 Income Statement Sales $85,174 Cost of goods sold 38,328 Gross margin $46,846 Operating expenses 28,378 Net income $18,468 Number of shares of common stock 6,269 Market price of common stock $20 Dividends per share $1.00 Cash provided by operations $40,000 What is the return on stockholders' equity? a.28.2% b.1.1% c.6.9% d.2.9%
1n. Account
The following is selected financial data from Block Industries. How much does Block Industries have in current liabilities? Cash Accounts receivable Equipment Prepaid expenses Accounts payable Unearned revenue Long-term notes payable Common stock Revenue Sales tax payable Interest expense Depreciation expense OOOO $1 $19,800 $25,800 $12,300 $20,000 13,400 10,650 5,000 12,300 7,500 10,000 18,000 11,700 6,000 4,500 1,000
Profile Co has the following assets and liabilities: Assets: Cash $100 , account receivable,$150 ; Inventory,$240 ,land $200, plant net of accumulated amortization $300 : liabilities short term bank loan, $60 : accounts payable long term loan mortage loan ,$160 ,profolio co long term assets total was
The following information (in $ millions) comes from the Annual Report of Saratoga Springs Company for the year ending 12/31/2024: Year ended 12/31/2024 $ 8,139 4,957 2,099 Net sales Cost of goods sold Selling and administrative expense Interest expense Income before taxes Net income Cash and cash equivalents Receivables, net Inventories Land, buildings and equipment at cost, net Total assets Total current liabilities Long-term debt Total liabilities Total stockholders' equity 606 477 648 Profit margin on sales 12/31/2024 $ 1,165 1,200. 1,245 13,690 $ 17,300 $ 5,937 5,781 $ 11,718 $5,582 Required: Compute the profit margin on sales for 2024. Note: Round your answer to 1 decimal place, e.g., 0.1234 as 12.3%. 12/31/2023 $ 83 854 709 4,034 $ 5,680 $ 2,399 2,411 $ 4,810 $ 870
The following selected financial data is available for Sneasle Company: 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 What is the amount of the company's current assets? Group of answer choices $33,400 $47,800 $49,050 $38,400
Operating activities: Net earnings Non-cash items Add: Depreciation LAURENT COMPANY Statement of Cash Flows For the year 31 December 20X8 Changes to working ital: Add: Decrease in accounts receivable Less: Increase in accounts payable Less: Increase in inventory Investing activities: Decrease in long-term bank loan Purchase of long-term investment Financing activities: Sold long-term investment Paid cash dividend Net change in cash Opening cash Closing cash Chemisie ہے
1. The following accounts appeared on the partial Balance Sheet of Brandy Inc.: Accounts Payable Accounts Receivable $ 5,500 2,300 2,820 3,000 8,140 18,560 18,760 100 Bank Loan Cash Common Stock Inventory Long-term debt Machinery What is the total amount of all assets (rounded to the nearest dollar)?
Data extracts from Dormer's accounts are shown below Ye-Dec-21 Ye-Dec-20 Land & Buildings 279,000 228,000 Plant 75,000 72,000 Inventory Receivables Cash at Bank Total Assets Share Capital Reserves Long term loans Payables Taxation Interest Total Liabilities & Equity Operating Profits Interest Taxation 65,000 53,000 52,000 63,000 64,000 14,000 535,000 430,000 165,000 115,000 195,000 84,000 110,000 158,000 51,000 62,000 8,000 5,000 6,000 6,000 535,000 430,000 37,000 -5,000 -11,000 21,000 Profit for the Year Notes for the year to 31-Dec-21: Annual depreciation charges were £30,000. Plant (cost £15,000/depreciation £8,000) was sold for £4,000. Buildings costing £80,000 were sold for £110,000. A warehouse had been revalued by £60,000. Buildings/warehouses are not depreciated. Required: a) Prepare a statement of cashflows for Ye-Dec-21. b) Reconcile the annual movement in non-current assets. c) For Ye-Dec-21 calculate: Gearing, Current, and Quick Asset ratios

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