The total assets and total liabilities (in millions) of Dollar Tree Inc. and Target Corporation follow: Assets Liabilities Dollar Tree Target Corporation $ 3,567 1,782 $ 41,404 27,407 Determine the owners' equity of each company.
Q: General accounting
A: Step 1: Define Return on SalesReturn on sale is a financial ratio that compares the operating income…
Q: Home Stop sells two product categories, furniture and accessories. Information pertaining to its…
A: First, we need to calculate the cost and market value for each product. The cost is the quantity…
Q: Kenney Co. uses process costing to account for the production of canned energy drinks. Direct…
A: Step 1: Understand the Weighted-Average MethodUnder the weighted-average method, the cost per…
Q: Give me Answer
A: Concept of Direct Materials:Direct materials refer to the raw materials that are consumed directly…
Q: Answer? ? Financial accounting question
A: Explanation: The formula for calculating operating cash flow is as follows:Operating cash flow =…
Q: None
A: Step 1: Define Day sales outstandingIt is a ratio that calculates the number of days until a company…
Q: I don't need ai answer general accounting question
A: Step 1: Definition of Gain or Loss on DisposalThe gain or loss on disposal of an asset is calculated…
Q: Which of the following is a period cost? a. Raw materials cost b. Depreciation on factory equipment…
A: the correct answer is d. Rent for the headquarters office building, we need to distinguish between…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Stockholders' EquityStockholders' Equity represents the residual interest in…
Q: Holiday Inn Bakery purchased baking equipment for $45,000. The equipment has a salvage value of…
A: Detailed explanation:Given:Cost of Equipment $ 45000Salvage Value $ 5000Useful life 8 years Use…
Q: Requested general account answer
A: Step 1: Formula for Required ProductionThe formula to calculate the required production for a period…
Q: How much was the cost of goods sold
A: Step 1: Information providedBeginning inventory = $75,000Purchases = $200,000Ending inventory =…
Q: What is summit's contribution margin rate ?
A: Step 1: Definition of Contribution Margin RateThe Contribution Margin Rate is the percentage of…
Q: - Effects Manufacturing produces a pesticide chemical and uses process costing. There are three…
A: We are tasked with calculating the total number of equivalent units of production for conversion…
Q: What is connor's expected sales revenue for February general accounting
A: The expected sales revenue for February is calculated as follows: Sales revenue-February = Estimated…
Q: What is the cost of goods sold using absorption costing??
A: Step 1: Define Absorption CostingAn approach that is used to compute the actual cost related to the…
Q: Select the correct equation format for the purchases budget. a. Beginning inventory + expected sales…
A: To calculates the purchases needed by accounting for the expected sales, the inventory you want to…
Q: What is the total amount of capital raised on these financial accounting question?
A: Step 1: Define Municipal BondsMunicipal bonds are debt securities issued by municipalities to…
Q: The cost of goods sold by company for the period??
A: Step 1: Define Cost of Goods SoldThe cost of goods sold is an essential part of the income statement…
Q: Please solve this question answer financial Accounting question
A: Step 1: Define Adjusted Cost BasisThe adjusted cost basis is the cost value of any asset or security…
Q: Subject:- General Account
A: Step 1:First, calculate the units started during the period: Units started = Units completed +…
Q: General accounting
A: Step 1:First calculate the net purchases: Net purchases = Gross purchases - Purchase return and…
Q: Please solve this question general accounting
A: Step 1: Define Profit MarginProfit Margin is an accounting estimate, which helps firms in knowing…
Q: Help general account tutor
A: The correct answer is:C. Cash increases and Accounts Receivable decreases, $3,500 ExplanationWhen…
Q: What is the cost of goods sold for the year?
A: Step 1: Definition of Cost of Goods Sold (COGS)The Cost of Goods Sold (COGS) represents the direct…
Q: # accounting tutor please help
A: To determine the total cost recorded in Work in Process (WIP) for Job A-1 on May 21, 2019, we need…
Q: I need solution
A: Explanation of Owner's Equity:Owner's equity represents the owner's residual interest in a company's…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Earnings Per Share (EPS)Earnings Per Share (EPS) represents the portion of a…
Q: Accounting 12
A: Concept of Current RatioThe current ratio is a liquidity metric that measures a company's ability to…
Q: Which financial statement represents the accounting equation, Assets = Liabilities + Owner's equity.…
A: The correct answer is:c. Balance Sheet. Explanation:The Balance Sheet directly represents the…
Q: Hornaek Company
A: Explanation of Net Sales: Net sales represents the total sales revenue after deducting sales returns…
Q: Tracy Company, a manufacturer of air conditioners, sold 100 units to Thomas Company on November 17,…
A: The total list price of the air conditioners is calculated by multiplying the number of units sold…
Q: cost Accounting
A: Step 1: Formula for PurchasesThe formula to calculate direct materials purchases is: Direct…
Q: Novelli's Nursery has developed the following data in order to calculate the lower of cost or net…
A: The Net Realizable Value (NRV) is calculated as the selling price minus the cost to sell. The cost…
Q: What will be the level of account receivables following the change ?
A: Step 1: Define Accounts ReceivableWhen the product is given to the purchaser on credit by the…
Q: The cost of goods sold?
A: Calculation of Cost of Goods SoldCost of Goods Sold = Beginning Inventory + Cost of Goods…
Q: Please give true answer this financial accounting question
A: Step 1: Define Earnings Per Share (EPS)Earnings per Share (EPS) is calculated by dividing the net…
Q: Please need answer the following requirements on these general accounting question
A: Step 1: Define Predetermined Overhead RateThe predetermined overhead rate is a rate used to allocate…
Q: Financial Accounting: Corner Books has: Sales $764,200 Cost of goods sold $454,200 Profit margin 5.5…
A: Explanation of Price-Sales Ratio:The price-sales ratio is a financial metric that measures how much…
Q: Need General Accounting Questions Solution
A: 1. As a business changes how it operates, such as by introducing new products, expanding into new…
Q: Sooner industries charges a price of solve this question answer general Accounting
A: Calculation of Contribution Margin per unitContribution Margin per unit = ( Fixed Cost + Operating…
Q: General Accounting Question 2.1
A: 3. Camel Corporation's after-tax net cash inflow:Given:Merchandise sales = $100,000Cost of…
Q: What is the maturity value of the note ? General accounting
A: Step 1: Formula Maturity value = Principal + InterestInterest = Principal x Rate x Time Step 2:…
Q: What is the return on equity? General accounting
A: To calculate the return on equity (ROE), we need to follow these steps:Calculate Net Income:Profit…
Q: Will recognize on the sale ?
A: **Step 1: Determine the Amount Realized**The amount realized includes: - The **cash** received:…
Q: Expert of general account
A: Step 1: Understand the Perpetual Inventory SystemIn a perpetual inventory system:Inventory is…
Q: Do fast answer of this accounting questions
A: To determine the amount Carter Manufacturing would record as the cost of the equipment, we need to…
Q: Give correct option for following data of this general accounting question
A: Step 1:Sales also known as revenue from operations is the amount received from the sales of goods or…
Q: A company uses the weighted-average method for inventory costing. At the end of the period, 21,000…
A: To calculate the cost assigned to the ending Work in Process (WIP) inventory, we consider the…
Q: None
A: Explanation of Direct Materials: Direct materials are the raw materials that can be directly traced…
Step by step
Solved in 2 steps
- Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne EnterprisesCurrent assets:Cash and cash equivalents $ 2,494 $ 541Current investments 125Net receivables 1,395 217Inventory 10,710 8,600Other current assets 773 301Total current assets $15,372 $9,784Current liabilitiesCurrent debt $ 1,321 $ 47Accounts payable 8,871 5,327Other current liabilities 1,270 2,334Total current…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 ratioAccounting equation The total assets and total liabilities (in millions) of ABC Corporation and XYZ Corporation follow: Assets ABC Liabilities XYZ $47,172 $45,757 20,756 21,963 Determine the stockholders' equity of each company. ABC Corporation stockholders' equity $ XYZ Corporation stockholders' equity $ million million
- The balance sheet for Stuart 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 Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio $ 238,000 770,000 $1,008,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) % 144,000 441,000 585,000 423,000 $1,008,000The balance sheet for Baird 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 Required Compute the following. Note: Round "Ratios" to 1 decimal place. Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio % $ 248,000 751,000 $ 999,000 $ 142,000 456,000 598,000 401,000 $ 999,000Accounting Equation The total assets and total liabilities (in millions) of ABC Corporation and XYZ Corporation follow: ABC XYZ Assets $28,042 $27,201 Liabilities 12,338 13,056 Determine the stockholders' equity of each company. ABC Corporation stockholders' equity million XYZ Corporation stockholders' equity million
- The balance sheet for Shankland Corporation follows: 000'009 $ 000006 Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings 000 0000 000 00 000 009' 000 006 Total liabilities and stockholders' equity 000'00s Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratioSelected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: АСМЕ Wayne Enterprises ($ in millions) Current assets: Corporation $ 275 530 Cash and cash equivalents 369 Current investments Net receivables 575 196 Inventory Other current assets 10,545 1,367 8,509 245 Total current assets $12,862 $9,755 Current liabilities: Current debt $ 8,521 Accounts payable Other current liabilities $4,400 1,051 2,416 ר1,79 1,008 Total current liabilities $11,326 $7,867 Required: 1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Current Ratio ACME Corporation Wayne Enterprises Cashanswer please
- The balance sheet for Zachary 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 Required Compute the following. Note: Round ratios to 1 decimal place. Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio % $ 234,000 770,000 $ 1,004,000 $ 141,000 456,000 597,000 407,000 $ 1,004,000Calculate the following for Co. XYZ: a. Current ratio b. Debt ratio Assets: Cash and marketable securities $400,000 Accounts receivable 1,415,000 Inventories 1,847,500 Prepaid expenses 24,000 Total current assets $3,686,500 Fixed assets 2,800,000 Less: accumulated depreciation 1,087,500 Net fixed assets $1,712,500 Total assets $5,399,000 Liabilities: Accounts payable $600,000 Notes payable 875,000 Accrued taxes Total current liabilities $1,567,000 Long-term debt 900,000 Owner's equity Total liabilities and owner's equity Co. XYZ Income Statement: Net sales (all credit) $6,375,000 Less: Cost of goods sold 4,375,000 Selling and administrative expense 1,000,500 Depreciation expense 135,000 Interest expense Earnings before taxes $765,000 Income taxes Net income Common stock dividends $230,000 Change in retained earningsSelected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ($ in millions) ACME Corporation Wayne Enterprises Current assets: Cash and cash equivalents $519 $185 Current investments 7 461 Net receivables 618 106 Inventory 10, 645 7,609 Other current assets 1,251 155 Total current assets $13,040 $8,516 Current liabilities: Current debt $7,621 $4,464 Accounts payable 1,707 961 Other current liabilities 1, 148 2,552 Total current liabilities $10,476 $7,977 Required: 1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. 1-b. Which company has the more favorable ratio? 2-a. Calculate the acid-test (quick) ratio for ACME Corporation and Wayne Enterprises. 2-b. Which company has the more favorable ratio?
