+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

Total Assets = Supplies + Accounts Receivable + Cash + Equipment= 500 + 4000 + 16000 + 7500= 28,000…

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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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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Carr Corporation's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet Ending Balance Beginning Balance Cash and cash equivalents $ 3,060 $ 25,070 Accounts receivable 88,000 77,390 Inventory 41,300 48,410 Prepaid expenses 9,810 16,500 Long-term investments 252,000 208,000 Property, plant, and equipment 566,500 489,600 Less accumulated depreciation 339,200 318,600 Total assets $ 621,470 $ 546,370 Accounts payable $ 9,180 $ 27,250 Accrued liabilities 25,680 17,850 Income taxes payable 53,900 50,600 Bonds payable 176,000 210,000 Common stock 152,000 140,000 Retained earnings 204,710 100,670 Total liabilities and stockholders' equity $ 621,470 $ 546,370 Income Statement Sales $ 926,500 Cost of goods sold 486,000 Gross margin 440,500 Selling and administrative expense 286,200 Net operating income 154,300 Income taxes 41,300 Net income $ 113,000 The company declared and paid…
This Year Last Year Assets Current assets: Cash $360,000 $310,000 Marketable securities 220,000 80,000 Accounts receivable, net 775,000 700,000 Inventory 925,000 750,000 Other current assets 355,000 195,000 Total current assets 2,635,000 2,035,000 Plant and eqipment, net 1,975,000 1,800,000 Other assets 75,000 100,000 Total assets $4,685,000 $3,935,000 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable $250,000 $225,000 Short-term bank loans 750,000 600,000 Accrued payables 550,000 395,000 Other current liabilities 275,000 223,400 Total current liabilities 1,825,000 1,443,400 Bonds payable, 10% 575,000 400,000 Total liabilities 2,400,000 1,843,400 Stockholders' equity: Common stock 1,150,000 1,150,000 Retained earnings 1,135,000 941,600 Total stockholders' equity 2,285,000 2,091,600 Total liabilities and stockholders' equity $4,685,000 $3,935,000…
Current Assets Cash A/R Inventory Total Net Plant & Equip Total Assets Tomson Corporation 2013 and 2014 Statement of Financial Position Assets 2013 $ 8,436 21,530 38.760 $ 68,726 $ 226.706 $295,432 2014 $ 10,157 23,406 42.650 $ 76,213 Current Liabilities A/P Notes Payable Total 1. The current ratio for each year 2. The quick ratio for each year Long-term Debt Owner's Equity Common Stock & Paid-in Surplus Retained Earnings $248,306 Total Total Liabilities & $324,519 Owners Equity Liabilities 3. The cash ratio for each year 4. The NWC to total assets ratio for each year 2013 5. The debt-equity ratio and the equity multiplier for each year 6. The total debt ratio and the long-term debt ratio for each year Round all answers to 2 decimal places. $ 43,050 18.384 $61.434 $ 25.000 $ 40,000 168.998 $ 208,998 $ 295,432 2014 1. Prepare: The 2014 combined common-size, common-base year statement of financial position for Tomson. Round your intermediate calculations to 2 decimal places…
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Ratio AnalysisPresented below are summary financial data from Pompeo’s annual report: Amounts in millions Balance Sheet Cash and Cash Equivalents $1,865 Marketable Securities 19,100 Accounts Receivable (net) 9,367 Total Current Assets 39,088 Total Assets 123,078 Current Liabilities 39,255 Long-Term Debt 7,279 Shareholders’ Equity 68,278 Income Statement Interest Expense 375 Net Income Before Taxes 14,007 Calculate the following ratios:(Round to 2 decimal points) a. Times-interest-earned ratio Answer b. Quick ratio Answer c. Current ratio Answer PreviousSave AnswersNext
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Assets: Cash Accounts receivable Inventories Total current assets Net fixed assets Total assets Liabilities and equity: Accounts payable Notes payable Total current liabilities Long-term debt Common stock Retained earnings Total common equity Total liabilities and equity $ $ $ $ $ $ $ 2015 200,000 864,000 2,000,000 3,064,000 6,000,000 9,064,000 1,400,000 1,600,000 3,000,000 2,400,000 3,000,000 664,000 3,664,000 9,064,000 2014 170,000 700,000 1,400,000 $2,270,000 5,600,000 $7,870,000 $ $1,090,000 1,800,000 $2,890,000 2,400,000 2,000,000 580,00 $2,580,000 $7,870,000 If a firm has EBIT = 1,350,000 and 40% Tax rate, calculate Free Cash Flow.
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