Tournesol Inc. Income Statement Year Ended December 15, 2018 Sale Cost of goods sold Rent Expense Wages and Salaries Expense Amortization Expense Results of Sale of equipment Interest Expense Income Tax Expense Profit Cash Accounts Receivable Inventory Prepaid Expenses Tournesol Inc. comparative balance sheet at December 15, 2018 Equipment Accumulated Depreciation - equipment Total Assets Account Payable Wages and Salaries Payable Income taxes payable Dividends Payable Long-term Notes Payable Common shares Retained Earnings Total Liabilities & Shareholders' Equity 2018 $ 7,000 $ 5,000 $ 10,000 $ 2,400 $ 34,000 $ (12,000) $ 46,400 $ $ 3,500 6,800 $ 1,200 $ 1,000 $ $ $ $ $ 100,000 $ (52,000) $ (6,000) 7,000 9,000 17,900 46,400 $ (15,000) $ (4,000) $ 1,000 $ (1,600) $ (2,000) $ 20,400 2017 $ 1,000 $ 9,000 $ 13,000 $ 5,000 $ 40,000 $ (18,000) $ 50,000 $ $ 5,000 5,500 $ 3,000 $ 2,500 $ 22,000 $ 10,000 $ 2,000 $ 50,000

Tournesol Inc. Income Statement Year Ended December 15, 2018 Sale Cost of goods sold Rent Expense Wages and Salaries Expense Amortization Expense Results of Sale of equipment Interest Expense Income Tax Expense Profit Cash Accounts Receivable Inventory Prepaid Expenses Tournesol Inc. comparative balance sheet at December 15, 2018 Equipment Accumulated Depreciation - equipment Total Assets Account Payable Wages and Salaries Payable Income taxes payable Dividends Payable Long-term Notes Payable Common shares Retained Earnings Total Liabilities & Shareholders' Equity 2018 $ 7,000 $ 5,000 $ 10,000 $ 2,400 $ 34,000 $ (12,000) $ 46,400 $ $ 3,500 6,800 $ 1,200 $ 1,000 $ $ $ $ $ 100,000 $ (52,000) $ (6,000) 7,000 9,000 17,900 46,400 $ (15,000) $ (4,000) $ 1,000 $ (1,600) $ (2,000) $ 20,400 2017 $ 1,000 $ 9,000 $ 13,000 $ 5,000 $ 40,000 $ (18,000) $ 50,000 $ $ 5,000 5,500 $ 3,000 $ 2,500 $ 22,000 $ 10,000 $ 2,000 $ 50,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please don't give image format
Comment on the changes between these two years. More specifically, how do the changes in total asset turnover TATO ratio between 2017 and 2016 reflect changes in asset utilization efficiency and, other things equal, shareholder value
Disaggregate Traditional DuPont ROE Graphical representations of the KLA-Tencor 2018 income statement and average balance sheet numbers (2017-2018) follow ($ thousands). KLA-Tencor Average Balance Sheet 2017-2018 $1,473,464 O $2,583,930 -$2,627,235.5 $1,518,3711 Operating assets Nonoperating assets Operating labilities Nonoperating Babies Equity + 0 수 $2.948.529 0 KLA-Tencor Income Statement 2018 $802,265 $653.666- ✪ 0 O $81,263 a. Compute return on equity (ROE). Note: 1. Select the appropriate numerator and denominator used to compute ROE from the drop-down menu options. 2. Enter the numerator and denominator amounts to compute ROE. Numerator Denominator ROE Operating expenses Tax expense 수 0 b. Apply the DuPont disaggregation into return on assets (ROA) and financial leverage (FL). Note: 1. Select the appropriate numerator and denominator used to compute ROA from the drop-down menu options. 2. Enter the numerator and denominator amounts to compute ROA. Numerator Denominator ROA 수 0…
please see incorrect or unanswered questions, ty
State the effect the following situation would have on the amount of annual net income reported for 2019. No adjustment was made for the revenue earned previously recorded as unearned revenue for USD 6,000 as of 2019 December 31. Group of answer choices Net income is overstated, liabilities are understated Net income is understated, assets are overstated Net income is overstated, assets are overstated Net income is understated, liabilities are overstated
left numbers are 2025 right column is 2024. i need to figure out B. asset turnover C return on assets D. return on common stockholder equity.
If current assets are $20,000 and total assets are $187,000, what percentage of total assets are current assets? (Answer as a percentage to 1 decimal point with no % sign needed, e.g. xx.x or 12.3)
Perform a horizontal analysis for the balance sheet entry "Cash" given below. That is, find the amount of increase or decrease (in $) and the associated percent (rounded to the nearest tenth).
Find the following financial ratios for LVMH Moet Hennessy Louis Vuitton SA (use year-end figures rather than average values where appropriate) (Round your answers to 2 decimal places (e.g., 32.16).) : 2015 2016 Short-term solvency ratios: Current ratio Quick ratio Cash ratio Asset utilization ratios: Total asset turnover Inventory turnover Receivables turnover Long-term solvency ratios: Total debt ratio Debt–equity ratio Equity multiplier Times interest earned ratio Profitability ratios: Profit margin % % Return on assets % % Return on equity % %
Hello, I am trying to calculate NNEP based on this - not sure how to calculate NNE Dec. 31, 2018 Dec. 31, 2017 Operating Assets 31,922 32,463 Operating liabilities 7,244 7,687 Net operating assets (NOA) 24,678 24,776 NNO $ 14,830.00 $ 13,154.00 Equity $ 9,848 $ 11,622 NOA= NNO + Equity $ 24,678 $ 24,776
The following is an example of Current assets Fixed assets Current Year $ 420,000 1,530,000 a. regression analysis b. horizontal analysis c. net assets analysis d. marketability analysis Prior Year $ 500,000 1,500,000 Increase (Decrease) Amount $(80,000) 30,000 Percent (16%) 2%
If current assets are P90,000 and total assets are P270,000, what percentage of total assetsare current assets?