Use the information provided for Harding Company to answer the question that follow.Harding CompanyAccounts payableAccounts receivableAccrued liabilitiesCashIntangible assetsInventoryLong-term investmentsLong-term liabilitiesNotes payable (short-term)Property, plant, and equipmentPrepaid expensesTemporary investments$34,77668,7296,27417,18341,81379,200110,89574,49122,045646,1752,55431,252Based on the data for Harding Company, what is the amount of working capital?a. $198,918b. $643,621c. $997,801Od. $135,823

Working capital is the amount required by a firm to run its day to day business operation. Working…

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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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The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation. Credits Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals $ Debits 44,000 94,000 119,000 82,000 158,000 395,000 113,000 31,000 51,000 $ 29,000 119,000 44,000 84,000 39,000 345,000 6,000 390,000 31,000 $1,087,000 $1,087,000 Additional Information: 1. The $158,000 balance in the land account consists of $119,000 for the cost of land where the plant and office buildings are located. The remaining $39,000 represents the cost of land being held for speculation. 2. The $82,000 balance in the investment in equity securities account represents an investment in the…
Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, Intangible Assets, Current Liabilities, Long-Term Liabilities, and Equity. For each of the following items, identify the balance sheet category where the item typically would best appear. If an item does not appear on the balance, indicate that instead. Account Title 1. Notes receivable (due in 2 years) 2. Trademarks 3. Cash 4. Patents 5. Interest receivable 6. Machinery 7. Prepaid rent (2 months of Rent) 8. Equipment 9. Repairs expense 10. Land Classification Account Title 11. Depreciation expense Building 12. Office equipment 13. Prepaid Insurance (expires in 5 months) 14. Buildings 15. Bonds payable (due in 10 years) 16. Trucks 17. Mortgages payable (due in 6 years) 18. Automobiles 19. Notes payable (due in 3 years) 20. Utilities expense Classification
Please calculate the debts to assets ratio for the years 2022 and 2021, also please show your work.
Required: a. What is the ratio of real assets to total assets? (Hint: for this question, only include those listed under "Real assets") b. What is the ratio of real assets to total assets for nonfinancial firms in the following table? Assets Real assets Equipment and intellectual property Real estate Inventories Total real assets Financial assets Deposits and cash Marketable securities Required A $ Billion $ 8,345 14,423 2,724 $ 25,492 Required B $ 2,333 4,059 4,075 14,005 $ 24,472 $ 49,964 % Total 16.7% 28.9 5.5 51.0% 4.7% 8.1 8.2 28.0 49.0% 100.0% Liabilities and Net Worth Liabilities Debt securities Bank loans & mortgages Other loans Trade debt Other Total liabilities Complete this question by entering your answers in the tabs below. Net worth $ Billion Trade and consumer credit Other Total financial assets TOTAL Balance sheet of U.S. nonfinancial corporations Note: Column sums may differ from total because of rounding error. Source: Flow of Funds Accounts of the United States,…
Cash Received from: Sales to customers Interest on investment Collection of note receivable Sale of investments Issuance of notes payable Sale of long-term asset Issuance of equity Cash Paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Operating expenses Dividends to stockholders Purchase of supplies Income and property taxes Purchase of property Repurchase of stock $ 475,000 6,000 50,000 30,000 202,000 40,000 228,000 $ 33,000 5,000 18,000 140,000 25,000 20,000 3,000 11,000 400,000 8,000 The balance of cash at the beginning of 2024 was $220,000. दे Required: Prepare a statement of cash flows for the year for Shepa Incorporated, (Hint. For operating, investing, and financing activities, list the inflows and subtract the outflows to calculate net cash flows for each type of activity.) Note: Amounts to be deducted should be indicated with a minus sign.
Assets Current assets Cash and cash equivalents Accounts receivable, net Supplies Other current assets Total current assets Property and equipment Accumulated depreciation Net property and equipment Goodwill Deferred charges Other Total assets Liabilities and equity Current liabilities Accounts payable Accrued liabilities Current maturities of long-term debt Total current liabilities Operating lease liabilities non-current Long-term debt Other non-current liabilities Total liabilities Total liabilities Common stock Cummulative dividends Retained earnings Other Total equity Total liabilities and equities Revenue, net Operating charges Salaries, wages, and benefits Other operating expenses Supplies expense Depreciation and amortization Lease and rental expense Total operating charges Income from operations Interest expense, net Other (income) expense, net Income before income taxes Provision for income taxes Net income $61,268 1,560,847 Cost of debt (%) Cost of equity (%) Weighted…
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The balance sheets for Dual Monitors Corporation and additional information are provided below. DUAL MONITORS CORPORATION Balance Sheets December 31, 2024 and 2023 Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional Information for 2024: 1. Net Income is $150,600. 2. Sales on account are $1,215,500. (All sales are credit sales.) 3. Cost of goods sold is $973,400. Complete this question by entering your answers in the tabs below. a. Gross profit ratio b. Return on assets c. Profit margin d. Asset turnover e. Return on equity 2024 19.9 % 13.9 % %6 $208,600 60,000 86,000 3,100 times %6 390,000 390,000 700,000 580,000 (338,000) (178,000)…
Prepare a blance sheet
Analysis above two financial statement, what you can observe without using financial ratio.
Exercises: 1. Indicate under which activity (operating, financing, investing) the following accounts belong in the statement of cash flows: Activity Land Mortgage payable Profit for the year Trade and other payables Depreciation/amortization Inventories Prepaid expenses Buildings Accrued expenses Current taxes payable Equipment Long-term borTowings Purchase of a company Dividends
! Required information [The following information applies to the questions displayed below.] Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity This Year Last Year $ 26 $ 11 292 228 151 195 8 5 477 439 512 433 (81) (70) 431 363 28 34 $ 936 $ 836 $ 305 $ 225 73 78 73 65 451 368 199 172 650 540 163 202 123 94 286 296 $ 936 $ 836 Weaver Company Income Statement For This Year Ended December 31 Sales $ 753 Cost of goods sold 449 Gross margin Selling and administrative…

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