Use the following information for Taco Swell, Inc. (assume the2017 2018SalesDepreciationCost of goods soldOther expensesInterestCashAccounts receivable$24,049 $19,2182,526 2,6346,440 6,8811,448 1,2531,1851,4008,751 9,69711,638 13,932Short-term notes payable 1,8241,79129,510 35,60473,114 78,0606,359 7,09020,679 22,0122,729 2,464Long-term debtNet fixed assetsAccounts payableInventoryDividendsFor 2018, calculate the cash flow from assets, cash flow tonegative answer should be indicated by a minus sign. Doround your answers to 2 decimal places, e.g., 32.16.)Cash flow from assetsCash flow to creditorsCash flow to stockholders27,689.784,694.002,464.00

For computing the Cashflows from Assets, first step is to compute the Net income of the business.…

Answered: Use the following information for Taco…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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4) During June 2019, Andy Company had the following transactions: 1 Sales of $185,000 ($142,000 on account, $43,000 for cash). 2. Collections on account, $128,000 3 Write-offs of uncollectible receivables, S1,900 4. Recovery of receivable previously written off $600. Additional information Ignore Cost of Goods Sold Andy uses the allowance method for uncollectibles Andy estimates that 4.50% of its accounts receivable will be uncollectible. On June 1, 2019, the Accounts Receivable balance was $25.000 and the Allowance for Bad Debts had a normal account balance of $1,125. Requirements: a. Prepare the journal entries for the June 2019 transactions. b. prepare the june 30, 2019 adjusting journal entry. c. what is the net realizable value of acccounts receivable on june 30, 2019(after the adjusting journal has been posted)?
During August 2024, Helio Company recorded the following: • Sales of $91,400 ($77,000 on account, $14,400 for cash). Ignore Cost of Goods Sold • Collections on account, $63,700. • Write-offs of uncollectible receivables, $1,680. • Recovery of receivable previously written off, $700. Requirements Journalize Helio's transactions during August 2024, assuming Helio uses the direct write-off method. 1. 2. Journalize Helio's transactions during August 2024, assuming Helio uses the allowance method.
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts rec.. Inventory Total Net fixed assets Total assets $11,400 8,150 440 $ 2,810 108 $ 2,702 946 $1,756 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 $ 320 $ 350 What is the equity multiplier for 2017? Accounts payable 1,190 1,090 Long-term debt 2,120 1,805 Common stock $3,630 $3,245 Retained earnings 3,560 4,180 $7,190 $7,425 Total liab. & equity 2016 2017 $1,950 $2,022 1,110 1,393. 3,440 3,070 690 940 $7,190 $7,425
Required Information [The following Information applies to the questions displayed below.] On January 1, 2021, the general ledger of ACME Fireworks Includes the following account balances: Accounts Cash Debit. Credit Accounts Receivable Allowance for Uncollectible Accounts $ 27,100 50,200 $ 6,200 Inventory 22,000 Land 66,000 Equipment 25,000 Accumulated Depreciation 3,500 Accounts Payable 30,500 Notes Payable (6%, due April 1, 2022) 70,000 Common Stock 55,000 Retained Earnings 25,100 Totals $190,300 $190,300 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $12,000. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $167,000. January 15 Firework sales for the first half of the month total $155,000. All of these sales are on account. The cost of the units sold is $83,800. January 23 Receive $127,400 from customers on accounts receivable. January 25 Pay $110,000 to…
Use the following information to answer this question: Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Windswept, Incorporated 2021 Income Statement ($ in millions) Total Net fixed assets Total assets 2020 $ 290 What is the fixed asset turnover for 2021? 1, 170 2, 090 $ 3,550 3, 590 $ 7,140 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2021 $ 13, 850 8, 100 510 $ 5, 240 106 $5, 134 1,078 $4, 056 $ 320 1, 070 1, 780 $ 3, 170 4, 160 $ 7,330 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2020 $ 1,940 1, 100 3, 420 680 $ 7,140 2021 $ 1,910 1, 420 3, 070 930 $ 7,330
In fiscal 2017 and 2016, Estée Lauder's financial statements included the following items. Inventory Receivables $ millions Payables Sales Cost of goods sold Cash cycle 2017 2016 $ 1,583 $ 1,264 1,242 1,258 2,924 2,349 14,071 11, 262 2,876 2,181 What was its cash cycle? Assume 365 days in a year. (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to the nearest whole number.) (228) days
As of December 31, 2017 Cash $ 17,900 Accounts payable $ 29,500 Accounts receivable $ 39,600 Notes payable 15,400 Less: Allowance for doubtful accounts 3,200 36,400 Unearned revenue 3,800 Inventory 61,100 Total current liabilities $ 48,700 Prepaid expenses 7,400 Total current assets $ 122,800 The following errors in the corporation's accounting have been discovered: Keane collected $ 5,200 on December 20, 2017 as a down payment for services to be performed in January, 2018. The company's controller recorded the amount as revenue. 1. The inventory amount reported included $ 2,300 of merchandise that had been received on December 31, 2017 but for which no purchase invoices had been received or entered. Of this amount, $ 1,600 had been received on consignment; the remainder was purchased f.o.b. destination, terms 2/10, n/30. 2. Sales for the first day in January 2018 in the amount of $ 11,100 were entered in the sales journal as of December 31, 2017. Of these, $ 7,000 were sales on…
Consider the following financial statement information: Item Beginning Year Ending Inventory € 9.780 € 11.380 € 4.108 € 4.938 € 7.636 € 7.927 Accounts Receivable Accounts Payable Credit Sales Cost of Goods Sold € 89.804 € 56.384 Calculate the operating and cash cycles. How do you interpret your answer?
Given the following information, answer the questions provided in the space below. Cash Gross accounts receivable Allowance for doubtful accounts Inventory Prepaid expenses Total long-term assets (net) Total assets Net credit sales Cost of goods sold Gross profit Net income 2019 $ 14,400 $ $ 106,300 $ $ 98,700 7,200 115,600 $ 108,700 7,000 $ 131,550 $ 140,000 5 363,050 $ 358,700 $ 976,600 $ 902.500 $ 598,000 $ 576,000 $ 378,600 $ 326,500 13,450 17,000 $ $ $ $ 9,800 $ 2018 11,500 5,000 $ Time left 2:15: 1. If target accounts receivable turnover is 30 days, how well is this company managing its accounts receivable in 2019? Be sure to include your calculations. 2. If target inventory turnover is 80 days, how well is this company managing its inventory in 2019? Be sure to include your calculations. 3. All of this company's competitors have a return on assets of 3.2-4,4%. How does this company compare? Are they better or worse?
Receivables using Columbia Sportswear 2017 Annual Report Income Statement Net sales Cost of sales Gross profit Selling, general and administrative expenses Net licensing income Income from operations Interest income, net Interest expense on note payable to related party (Note 21) Other non-operating expense Income before income tax Income tax expense (Note 10) Net income In the footnotes, they provided the following information: T Trade accounts receivable Allowance for doubtful accounts Accounts receivable, net 1. What was bad debt expense for 2017? Using the following T account if helpful. Allowance for bad debts 8556 3296 Other information Columbia Sportswear reported net accounts receivables on its balance sheet of $364,862. In another footnote, they disclosed that write-offs of receivables were $2,809. 2809 9043 2. Did Columbia Sportswear collect cash faster or slower in 2017 as compared to 2016? To aid you complete the following schedule % of Sales uncollected at the end of 2017…
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