The following information is from Princeton Company's comparative balance sheets.At December 31Common stock, $10 par valueCurrent Year$ 105,000567,000313,500Paid-in capital in excess of parPrior Year$ 100,000342,000287,500Retained earningsThe company's net income for the current year ended December 31 was $48,000.1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year.Beginning balanceIssuance of common stockEnding balanceCommon Stock, $10 ParPaid-in Capital in Excess of ParBeginning BalanceIssuance of common stockEnding balanceCash received$ 230,000100,00050,000150,000342,000225,000567,000

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College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1SEB

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The following information is from Princeton Company's comparative balance sheets. Current At December 31 Prior Year Year Common stock, $10 par value Paid-in capital in excess of par Retained earnings $ 105,000 $ 100,000 567,000 313,500 342, е00 287,500 The company's net income for the current year ended December 31 was $48,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. es Common Stock, $10 Par Beg. bal. End. bal. Paid-in Capital in Excess of Par Beg. bal.
The following information is from Princeton Company's comparative balance sheets. At December 31 Prior Year Common stock, $10 par value $126,000 Paid-in capital in excess of par Current Year $ 131,000 593,000 339,500 355,000 Retained earnings 313,500 The company's net income for the current year ended December 31 was $61,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock Beginning balance Ending balance Common Stock, $10 Par Paid-in Capital in Excess of Par Beginning balance Ending balance Cash received
Please show calculation
Ratio Analysis Presented below are summary financial data from Porter's annual report: Amounts in millions Balance Sheet Cash and Cash Equivalents Marketable Securities Accounts Receivable (net) Total Current Assets Total Assets Current Liabilities Long-Term Debt- Shareholders' Equity Income Statement Interest Expense Net Income Before Taxes b. Quick ratio $1,850 19,100 9,367 39,088 123,078 38,450 7,279 68,278 Calculate the following ratios: (Round to 2 decimal points) a. Times-interest-earned ratio c. Current ratio 400 14,007
Compute and analyse the trend analysis of the company. attached the Income statement and balance sheet
Measures of liquidity, solvency, and profitabilityThe comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2. InstructionsDetermine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts):1. Working capital2. Current ratio3. Quick ratio4. Accounts receivable turnover5. Number of days' sales in receivables6. Inventory turnover7. Number of days' sales in inventory8. Ratio of fixed assets to long-term liabilities9. Ratio of liabilities to stockholders' equity10. Times interest earned11. Asset turnover12. Return on total assets13. Return on stockholders' equity14. Return on common stockholders' equity15. Earnings per share on common stock16. Price-earnings ratio17. Dividends per share of common stock18. Dividend yield
Presented below is the comparative balance sheet for Novak Company. Assets Cash Novak Company Comparative Balance Sheet As of December 31 Accounts receivable (net) Short-term investments Inventories Prepaid expenses Plant & equipment Accumulated depreciation Liabilities and Stockholders' Equity Accounts payable Accrued expenses Bonds payable Common stock Retained earnings December 31 2026 $180,100 220,200 267,500 1,055,100 24,800 2,585,300 (1,004,300) $3,328,700 $49,600 171,200 445,900 2,108,000 554,000 $3,328,700 2025 $274,700 155,800 148,900 970,300 24,800 1,943,900 (749,000) $2,769,400 $75,300 199,000 189,200 1,768,300 537,600 $2,769,400
Prepare a balance sheet for Cornell Corp. based on the following information: cash = $120,000; accounts payable & accruals = $200,000; accounts receivable = $105,000; net fixed assets = $1,750,000; inventory = $290,000; notes payable = $160,000; Retained Earninigs = $660,000; Common Stock (par value+paid in Cap) = $400,000. Prepare the balance sheet. Calculate the long term debt of the firm. Calculate the NWC (Net Working Capital) and Debt to Equity (D/E) ratio.
The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities. $620,500 718,500 294,000 749,800 386,200 $2,769,000 1. Working capital 2. Current ratio 3. Quick ratio b. The liquidity of Albertini has in current assets relative to current liabilities. $411,800 298,200 $710,000 $496,000 558,000 186,000 529,500 338,500 $2,108,000 $434,000 186,000 $620,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year from the preceding year to the current year. The working capital, current ratio, and quick ratio have all Most of these changes are the result of an
Calculate the dividend payout ratio.
Ratio AnalysisPresented below are summary financial data from Porter’s annual report: Amounts in millions Balance Sheet Cash and Cash Equivalents $1,850 Marketable Securities 19,100 Accounts Receivable (net) 9,367 Total Current Assets 39,088 Total Assets 123,078 Current Liabilities 38,450 Long-Term Debt 7,279 Shareholders’ Equity 68,278 Income Statement Interest Expense 400 Net Income Before Taxes 14,007 Calculate the following ratios:(Round to 2 decimal points) a. Times-interest-earned ratio Answer b. Quick ratio Answer c. Current ratio Answer
The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities 1. Working capital 2. Current ratio $310,100 359,000 146,900 570,200 293,800 $1,680,000 3. Quick ratio $278,400 201,600 $480,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year $ $252,000 283,500 94,500 358,700 229,300 $1,218,000 $294,000 126,000 $420,000

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