Use the Following Data:AssetsLiabilitiesBeginning of Year$25,000$ 17,000End of Year$ 62,000$27,0001. What is the equity at the beginning of the year?2. What is the equity at the end of the year?3. If the owner contributes $9,600 and the owner withdraws $40,200,how much is net income (loss)?4. If net income is $2,600 and owner withdrawals are $7,600, how muchdid the owner contribute (owner, capital)?

To answer these questions, we will use the accounting equation: Assets=Liabilities+Equity.…

Answered: Use the Following Data: Assets…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 3P

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PLease answer. General Account.
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Using the simple equation on an Income Statement, what is your Net income if your Revenue was $929,000; and your Mortgage payment was $260,000; and your Utilities were $45,000; and your Employee expense w,as $352,000 [Show your math equation]
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"What was the return on net worth for the year?" Investment Assets at Year End $170,000 Investment Assets at Beginning of Year $125,000 Savings $25,000 Employer Match to 401(k) $4,800 Gross Income $120,000 Total Assets at Year End $650,000 Total Assets at Beginning of Year $610,000 Total Liabilities at Year End $235,000 Total Liabilities at Beginning of Year $240,000 4.11% O 12.16% 9.45% 5.41%.
The financial information is presented below for Bob's Appliance for the fiscal year ended 12/31/2020. $720,000 12,000 31,000 25,000 8,000 10,000 400,000 24,000 12,000 6,000 120,000 48,000 9,000 8,000 4,000 24,000 95,000 38,000 Sales Tax-exempt interest Long-term capital gain Short-term capital loss Interest income Passive activity loss Cost of goods sold Depreciation Section 179 expense Charitable contributions Bob's salary expense Employee salary expense Payroll taxes on employee Medical insurance expense for Bob Medical insurance expense for employee Rent expense Other operating expenses Net operating loss (from year ended 12/31/2019) Bob is a sole proprietor of the company and he has 1 employee. Assume Bob is single, no dependents, and does not itemize his deductions. Other than the income from Bob's Appliance, Bob has a short term capital loss of 22,000. Question #1) What is the income from Bob's appliance business? Be sure to show and label all your work and cell reference.…
Required: (a) You are required to calculate the following ratios:(iv) Return on Capital Employed(v) Asset turnover(vi) Non-current asset turnover(vii) Current Ratio(viii) Quick Ratio(ix) Inventory days(x) Receivables days(xi) Payable days(xii) Interest cover (b) In light of your calculations comment on the performance of the company over thelast two years.

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