The following information relates to the Gates Corporation: Net assets, end of year P650,000 Net assets, beginning of year 300,000 Additional investment by shareholders 100,000 Dividends paid 150,000 Other comprehensive income for the year 80,000 Profit for the year is a. 350,000 b. 400,000 c. 320,000
Q: The Diversified Portfolio Corporation provides investment advice to customers. A condensed income…
A: Cash flow statement refers to one of the key financial statements which is formed, prepared and…
Q: 20. RVR Enterprises shows net income of $100,000 for 2022 and retained earnings of $500,000 on its…
A: Retained earnings: These are the accumulated earnings of the company. These earnings were…
Q: "What was the return on net worth for the year?' Investment Assets at Year End $170,000 Investment…
A: Net worth refers to the total assets owned by the business after reducing total liabilities from it.…
Q: The balance sheet for Fanning Corporation follows: Current assets $232,000 763,000 Long-term assets…
A: Working Capital = Current Assets - Current Liabilities Current Ratio = Current AssetsCurrent…
Q: The following information relates to the Gates Corporation: Net assets, end of year P650,000…
A: The net assets are calculated as difference between total assets and liabilities. Hence, net assets…
Q: Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio…
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: X Co. has the following information: Sale $ 1,200,000 Cost of sales $800,000 Operating expenses…
A: Return on capital employed can be defined as the earnings from the capital contributed in the…
Q: return on total assets
A: Return on total assets = Net income * 100/ Average total assets
Q: ngs per share a. Construct the statement of stockholders' equity for December 31, 2021. No common…
A: Stockholders' equity refers to the value of the business that is owned by the stockholders of the…
Q: Using the following balance sheet and income statement data, what is the total amount of working…
A: Working capital is a measure of an organization's overall efficiency as well as an indicator of its…
Q: 36. ABC Industries has the following acount balances: Retained eamings Revenue Operating Expenses…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Lydex Company Comparative Balance Sheet This Year Last Year Assets Current assets: Cash Marketable…
A: Through ratio analysis, companies can evaluate both their financial strengths and weaknesses.…
Q: The Diversified Portfolio Corporation provides investment advice to customers. A condensed income…
A: Statement of cash flow -A cash flow statement is a summary of the amount of money that comes into…
Q: 8. How much is the total Capital Gains tax due?
A: As per our protocol we provide solution to the one question only but as you have asked two multiple…
Q: For example, 25 million should be entered as 25,000,000. Round your answers to the nearest share or…
A: As per GAAP, a set of financial statements include following : 1. Income Statement 2. Balance Sheet…
Q: The Davidson Corporation's balance sheet and income statement are provided here. Davidson…
A: Stockholders' equity refers to the value of the business that is owned by the stockholders of the…
Q: The financial statements of Neale Corporation include the following information:…
A: According to the rule, we will answer the first three subparts, for the remaining subparts, kindly…
Q: Total assets Average total assets Net income Sales Average common stockholders' equity Net cash…
A: ANSWER A)Asset Turnover ratio is the ratio between the company's salea revenue and the average value…
Q: Following is information from Soar Corporation for Year 6 ($ in millions). Total revenue…
A: Net operating profit after tax also known as NOPAT can be calculated in following way. Net…
Q: The balance sheet for Fanning Corporation follows: Current assets $ 247,000 Long-term…
A: Financial ratios are quantitative metrics used to evaluate and analyze the financial performance,…
Q: The assets of Moreland Corporation are presented below. January 1 December 31 Cash Marketable…
A: Morland's total asset turnover ratio is 1.37.{ Option (b) }Explanation:Step 1:Step 2:
Q: The balance sheet of ATLF, Inc. reports total assets of $1,950,000 and $2,050,000 at the beginning…
A: Profit margin ratio is calculating by dividing the net income by net sales.
Q: Assume Metro Corporation had a net income of $2,200 for the year ending December 31. Its beginning…
A: Net income = $2,200 Beginning assets = $35,500 Ending assets = $19,000
Q: The Weymire Corporation provides you with the following information for the year ended 12/3120:…
A: Cash Flow A/c
Q: Berry Corporation reports the following information. Year 7 Year 6 Cash $12,768 $11,592…
A: Residual operating income of the company is the Net operating profit after tax of current year minus…
Q: ncome statement Current Period Previous Period Sales Revenue 450,000…
A: FCFF is calculated as shown below.
Q: Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN…
A: Income statement for Year 2, using the percentage of sales approach is prepared as below
Q: Oversees Corporation reported the following income and expense items for the year: Gross receipts…
A: Taxable income is the income on which tax to be paid to government. It is calculated by deducting…
Q: During 2021, Target Corporation had: Revenue of $623,000 Cost of Goods Sold of $250,000 …
A: Hi student Since there are multiple questions, we will answer only first question. Multi Step…
Q: Using the following balance sheet and income statement data, what is the total amount of working…
A: The ratio analysis helps to analyze the financial statements of the business with respect to assets…
Q: Compute the following ratios for 2021 and 2022. (Round profit margin, gross profit rate and…
A:
Q: Approximately how much does the outstanding debt cost shareholders every year? a. $50 b. $33 c.…
A: Outstanding debt arises due to debt owned by the company and that too for a long period of time. To…
Q: The balance sheet for a corporation reported the following: noncurrent assets, $180,000; total…
A: Working capital: It implies to a capital that is being utilized by the business in it's operational…
Q: A corporation began the year with total assets of $125,000 and stockholders' equity of $40,000.…
A: We know as per accounting equation ASSETS = EQUITIES + LIABILITIES.
Q: I need amounts for total current assets, total assets, retained earning, dec 31, year 1, and tiotal…
A: Retained earnings, December 1, Year 1.
Q: Apex Inc. reports the following for a recent year: Income from continuing operations before income…
A: Income from continuing operation = Income from continuing operation before income tax - Income tax…
Q: stockholders equity amount to
A: We will solve this question using balance sheet accounting equation.
Q: Balance Sheet You are evaluating the balance sheet for Cypress Corporation. From the balance sheet…
A: Cash and Marketable Securities = c = $670,000Accounts Receivable = ar = $870,000Inventory = i =…
Q: Tax rate Dividend payout rate Calculate: i. Net income ii. Dividends iii. (Retained earnings 30% 45%
A: Comprehensive income: It implies to an overall change or variation in the company's equity for a…
Q: presented
A: Introduction: The financial performance of the companies can be analyzed with the help of ratios as…
Q: Selected financial data for Wilmington Corporation is presented below. WILMINGTON CORPORATION…
A: The debt-equity ratio is the ratio that is helpful in evaluating the financial leverage of the…
Q: Determine the amount of taxable income/(loss) for the year 2020 assuming the taxpayer opted to use…
A: Tax is calculated on the income earned by an individual from all the sources of income such as…
Q: Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION…
A: The question is based on the concept of Financial Accounting.
Q: During the year, ChemClean Corporation has $280,000 in revenues, $130,000 in expenses,and $10,000 in…
A: Definition: Net income: The bottom line of an income statement which is the result of excess…
Q: What is the times interest earned ratio for year 7?
A: Information Provided: Operating Income = $1,094,129 Interest expense = $55,240 Times Interest…
Q: Lydex Company Comparative Balance Sheet Assets Current assets: Cash Marketable securities Accounts…
A: Through ratio analysis, companies can evaluate both their financial strengths and weaknesses.…
The following information relates to the Gates Corporation:
Net assets, end of year |
P650,000 |
Net assets, beginning of year |
300,000 |
Additional investment by shareholders |
100,000 |
Dividends paid |
150,000 |
Other comprehensive income for the year |
80,000 |
Profit for the year is
a. 350,000
b. 400,000
c. 320,000
![](/static/compass_v2/shared-icons/check-mark.png)
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- The balance sheet for Fanning Corporation follows: $ 246,000 764,000 Current assets Long-term assets (net) Total assets $1,010,000 $ 149,000 452,000 601,000 409,000 Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $1,010,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio % Debt-to-equity ratio < Prev 5 of 6 MacEThe Fountain Corporation data for the current year and prior year is as follows: Current year Prior year $76,200 $60,000 $59,400 $51,200 $82,500 $38,000 $47,880 $18,420 $618,000 $478,140 $139,860 $47,860 $50,000 $92,000 $80,000 $23,000 $20,000 $69,000 $60,000 With respect to long- term liabilities, what would a horizontal analysis report? Account Current assets Account receivable Merchandise inventory Current liabilities Long-term liabilities Common stock (5,000 shares) Retained earnings Net sales revenue COGS Gross Profit Selling/General expenses Net income before taxes Income tax expense Net Income A. Long-term liabilities increased by $8,000 B. Long-term liabilities decreased by $8,000. OC. Long-term liabilities increased by 21.05%. OD. Long-term liabilities decreased by 21.05%. ithat $44,000 $40,000 $55,000 $30,000 $42,000 $17,000 $515,000 $385,000 $130,000Cash Accounts receivable (net) Other current assets Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Blue Corporation Balance Sheets December 31 Net income 2025 $31,000 $21,000 51,000 95,000 60,000 500,000 $86,000 150,000 370,000 $737,000 $612,000 $81,000 325,000 176,000 $737,000 Blue Corporation Income Statements For the Years Ended December 31 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) 2024 46,000 100.000 2025 75,000 90,000 315,000 $745,000 41,000 704,000 430,000 2023 $19,000 49,000 126,000 114,000 $612,000 $545,000 69,000 2024 50,000 358,000 $545,000 $71,000 55,000 305,000 $605,000 31,000 574,000 355,000 219,000 151,000 274,000 181,000 $93,000 $68,000
- Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATIONIncome Statement Sales $ 42,900 Costs 33,900 Taxable income $ 9,000 Taxes (21%) 1,890 Net income $ 7,110 Dividends $ 2,509 Addition to retained earnings 4,601 The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATIONBalance Sheet Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 2,250 Accounts payable $ 4,000 Accounts receivable 5,100 Notes payable 8,000 Inventory 8,000 Total $ 12,000 Total $ 15,350 Long-term debt $ 22,000 Owners’ equity Fixed assets Common stock and…1. During 2021, Target Corporation had: Revenue of $623,000 Cost of Goods Sold of $250,000 Operating expenses of $68,000 Interest expense of $4,000 Depreciation Expense of $13,000 During the year Target Corporation paid: 50% of net income in dividends 21% in corporate taxes a. Prepare a multi-step income statement on Sheet 1 of your spreadsheet. Include the dividend and additions to Retained Earnings below the income statement. b. Calculate Target's Operating Cash Flow beneath the Income Statement. 2. The following data refers to the 2021 year-end account balances for Target. However, the Retained Earnings balance is as of 12/31/2020. The accounts are listed in alphabetical order. $ Accounts Payable 25,000 Accounts Receivable 16,000 Accumulated Depreciation 175,000 Cash 44,000 Common Stock 120,000 Fixed Assets (gross) 390,000…The following information pertains to MNA Corporation for the year ended December 31, 2020: Accumulated profits, January 1, 2020 P1,500,000 Net income for 2020 300,000 Cash dividends declared December 1, 2020 and distributable on January 10, 2021 490,000 Share dividends declared November 25, 2011 and distributed on December 15, 2020 370,000 Required: Compute the balance of accumulated profits as of December 31, 2020.
- • The following is available for Golden Corporation for 2019: Sales 2,000,000 Average invested capital (assets) 500,000 Net income 300,000 I Cost of capital 18% What is the residual income for Golden Corp.? 1. P - 0 - 2. P 200,000 3. P 210,000 4. P 246,000 0 1 O 2 O 3 O 4Dutchess Bosco, Inc. reported the following items in the current year: Capital Gains $44,000,000 Capital Losses $60,000,000 In addition, the corporation reported capital gains for the previous years: 2016 $9041,000 2017 $5,826,000 2018 $5,924.000 2019 $1.771.000 The corporation recovered to show capital gains income in 2021 of $469,200. Calculate the remaining capital gains carryover the corporation has after 2021.Using the financial statements mentioned above estimate the annual rate of interest paid by the corporation (cost of debt). Also, find the tax rate and capitalization ratio (proportions among equity and debt). Using these values that you have found estimate the annual weighted cost of capital (WACC) of the corporation. Income statement PERIOD ENDING: 12/31/2019 Total Revenue $20,972,000 Cost of Revenue $17,755,000 Gross Profit $3,217,000 OPERATING EXPENSES Research and Development $0 Sales, General and Admin. $938,000 Non-Recurring Items $138,000 Other Operating Items $341,000 Operating Income $1,800,000 Add'l income/expense items $180,000 Earnings Before Interest and Tax $1,993,000 Interest Expense $394,000 Earnings Before Tax $1,599,000 Income Tax $326,000 Minority Interest $13,000 Equity Earnings/Loss Unconsolidated Subsidiary $0 Net Income-Cont. Operations $1,286,000 Net Income $1,273,000 Net Income Applicable to Common Shareholders…
- Seminole Corporation reported the following items at December 31, 2021, and 2020: (Click the icon to view the comparative financial information.) Read the requirements. Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2021. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formula and calculate the quick (acid-test) ratio for 2021. (Abbreviation used: Cash* = Cash and cash equivalents. Round your final answer to two decimal places.) Cash* + Short-term investments + Net current receivables + Total current liabilities = Quick (acid-test) ratio $ Seminole's quick (acid-test) ratio is considered fairly weak. (b) Select the formula and calculate Seminole's days' sales outstanding for 2021. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) Accounts receivable turnover = + Days' sales outstanding Seminole's days'…The balance sheet for the Capella Corporation is as follows: Assets Liabilities and Shareholders' Equity Current assets $ 300 Current liabilities $ 110 Net fixed assets 1, 200 Long-term debt 500 Shareholders' equity 890 Total assets $ 1,500 Total liabilities and shareholders' equity $ 1, 500 What is the Net Working Capital for Capella Corporation?The balance sheet for Munoz Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $ 235,000 762,000 $997,000 $160,000 457,000 617,000 380,000 $997,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) ace Working capital Current ratio Debt to assets ratio
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)