Provide Answer with calculation +Use the following information to calculate total Assets for the year ended December 31,2011:Supplies$500Revenues$17,000Operating Expenses10,000 Cash16,000Accounts Payable 11,000 DividendsAccounts Receivable 4,000 Notes payable 2,0006,000Common stock10,000 EquipmentRetained earnings4,0007,500

Step 1: As per given data, the total Assets for the year ended December 31, 2011 are calculated as…

Answered: + Use the following information to…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Calculate the profit margin (net income or net profit/total sales)for Rock Castle construction for this fiscal year. What’s the percentage
Recent financial statements ior Madison Company follow : AssetsCurrent assets: Madison Company Balance Sheet June 30 Cash$ 21,000Accounts receivable , net160,000Merchandise inventory prepaid expenses;300,0009,000Total current assets490 ,000Plant and equipment , net810,000Total assets$1 ,300,000Liabilities and Stockholders' EquityLiabilities:Current liabilities$ 200,000Bonds payable, 10%300,000Totalliabil ies500,000Stockholders' equ:Common stock, $5 par value$100,000Retained earnings700,000Total stockholders' equity600,000Totalliabil ies and stockholders' equ$1 ,300,000Madison Company Income StatementFor the Year Ended June 30Sales$2,100,000Cost of goods sold1,260,000Gross rna rgin840,000Selling and administrative expenses660,000Net operating income180,000Interest expense30,000Net income before taxes150,000Income taxes45,000Net income$ 105,000Account balances at the beginning of the company 's fiscal year were : accounts receivable , $140,000 ;and…
Use the following information to calculate total Assets for the year ended December 31, 2011: Supplies $ 500 Revenues $ 17,000Operating Expenses 10,000 Cash 16,000Accounts Payable 11,000 Dividends 6,000Accounts Receivable 4,000 Notes payabl 2,000Common stock 10,000 Equipment 7,500Retained earnings 4,000 a) $32,000 b) $35,000 c) $39,000 d) $28,000
The Butler-Huron Company’s balance sheet and income statement for last year are as follows:Balance Sheet (in Millions of Dollars) Assets Liabilities and Equity Cash and marketable securities $142 Accounts payable*** $808Accounts receivable* 941 Accrued liabilities Inventories** 1,607 (salaries and benefits) 508Other current assets 35 Other current liabilities 534Total current assets $2,725 Total current liabilities $1,850Plant and equipment (net) 3,029 Long-term debt and other Other assets 5,796 liabilities 2,228Total assets $5,796…
Suppose that you are given the following data for Niles Company : Note: The data and calculations are based on a 365-day year. Cash and equivalents Fixed assets Sales Net income Current liabilities Current ratio DSO ROE $225,000 $650,000 $2,500,000 $112,500 $240,000 2.5 18.25 12.00%
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How to calculate Net Operating Asset from this balance sheet for fiscal year-end 2015 .
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Use the following balance sheet data to compute the net operating working capital. Cash Accounts Receivable Inventory Current Assets Net fixed assets Total assets $60 160 200 $420 $700 $1,120 Account payable Accruals Notes payable Current liabilities Long-term debt Common equity Retained earnings Total liabilities and equity $180 110 200 $490 250 160 220 $1,120
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Find the following using the data bellow a. Accounts receivable B. Current assets C. Total assets D. Return on assets E. Common equity F. Quick ratio
The Butler-Huron Company's balance sheet and income statement for last year are as follows: Balance Sheet (in Millions of Dollars) Assets Cash and marketable securities Accounts receivable* Inventories** Other current assets Total current assets Plant and equipment (net) Other assets Total assets $82 820 1,507 22 $2,431 3,967 6,460 $6,460 Liabilities and Equity Accounts payable****** Accrued liabilities (salaries and benefits) Other current liabilities Total current liabilities Long-term debt and other liabilities Earnings before taxes Taxes Earnings after taxes (net income) Common stock Retained earnings Net sales Cost of sales Selling, general, and administrative expenses Other expenses Total expenses Total stockholders' equity Total liabilities and equity **Assume that average inventory over the year was the same as ending inventory. ***Assume that average accounts payable are the same as ending accounts payable. Income Statement (in Millions of Dollars) *Assume that all sales are…

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