Use the information provided for Harding Company to answer the question that follow.Harding CompanyAccounts payable$36,068Accounts receivable67,962Accrued liabilities6,331Cash21,747Intangible assets38,687Inventory88,371Long-term investments111,372Long-term liabilities75,442Notes payable (short-term)25,371Property, plant, and equipment645,701Prepaid expenses2,435Temporary investments31,403Based on the data for Harding Company, what is the amount of working capital?

The ratio analysis helps to analyse the financial statements of the business.

Answered: Use the information provided for…

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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Privett Company Line Item Description Amount Accounts payable $27,815 Accounts receivable 70,978 Accrued liabilities 6,525 Cash 22,970 Intangible assets 43,640 Inventory 74,446 Long-term investments 100,209 Long-term liabilities 78,528 Marketable securities 34,768 Notes payable (short-term) 25,264 Prepaid expenses 2,065 Property, plant, and equipment 646,687 Based on the data for Privett Company, what is the amount of working capital? a. $205,227 b. $995,763 c. $128,716 d. $145,623
Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $36,767 Accounts receivable 74,993 Accrued liabilities 6,681 Cash 17,378 Intangible assets 41,965 Inventory 83,039 Long-term investments 90,147 Long-term liabilities 70,154 Marketable securities 39,256 Notes payable (short-term) 24,477 Property, plant, and equipment 689,894 Prepaid expenses 1,932 Based on the data for Harding Company, what is the amount of working capital?
Harding Co Line Item Description Amount Accounts payable $40,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 30,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 110,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 30,000 Prepaid expenses 2,000 Property, plant, and equipment 625,000 Based on the data for Harding Co, what is the quick ratio?
The following comparative balance sheet is given for Estern Co.: Assets Dec 31, 2021 Dec 31, 2020 Cash $58,500 $351,000 72,000 Notes Receivable 63,000 Supplies & Inventory 81,000 121,500 Prepaid expense 31,500 54,000 Long-term investments 0 81,000 Machines and tools 166,500 144,000 Accumulated depreciation-equipment (63.000) (45,000) Total Assets $639,000 $477.000 Liabilities & Stockholders' Equity Accounts payable $ 76,500 $ 31,500 Bonds payable (long-term) 166,500 211,500 Common Stock 180,000 103,500 Retained Earnings 216.000 130.500 Total Liabilities & Stockholders' Equity $639.000 $477,000 Income Statement Information (2021): 1. Net income for the year ending December 31, 2021 is $130,500. 2. Depreciation expense is $18,000. 3. There is a loss of $9,000 resulted from the sale of long-term investment. Additional information (2021): 1. All sales and purchases of inventory are on account (or credit). 2. Received cash for the sale of long-term investments that had a cost of $81,000,…
You observe a company with the following items on the balance sheet (in thousands): Cash and equivalents 2018: $22 Cash and equivalents 2017: $23 Inventory 2018: $26 Inventory 2017: $21 Accounts receivable 2018: $144 Accounts receivable 2017: $129 Property, Plant, and Equipment 2018: $1,584 Property, Plant, and Equipment 2017: $1,663 Current Liabilities 2018: $247 Current Liabilities 2017: $291 Long-term debt 2018: $857 Long-term debt 2017: $1,494 What is the change in net working capital for the firm for these years. Answer in thousands (the same as how the numbers are presented).
Harding Company Accounts payable $34,411 Accounts receivable 74,965 Accrued liabilities 6,258 Cash 21,193 Intangible assets 37,609 Inventory 78,910 Long-term investments 111,094 Long-term liabilities 73,297 Notes payable (short-term) 28,248 Property, plant, and equipment 613,888 Prepaid expenses 2,504 Temporary investments 36,411 Based on the data for Harding Company, what is the amount of quick assets?
The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2021 (millions of dollars) Assets Liabilities and Equity Cash and equivalents $ 20 Accounts payable $ 140 Accounts receivable 475 Accruals 310 Inventories 890 Notes payable 225 Total current assets $ 1,385 Total current liabilities $ 675 Net plant and equipment 2,560 Long-term bonds 1,500 Total liabilities $ 2,175 Common stock (100 million shares) 270 Retained earnings $ 1,500 Common equity $ 1,770 Total assets $ 3,945 Total liabilities and equity $ 3,945 Davidson Corporation: Income Statement for Year Ending December 31, 2021 (millions of dollars) Sales $ 8,500 Operating costs excluding depreciation and amortization 5,650 EBITDA $ 2,850 Depreciation and amortization 500 EBIT $ 2,350 Interest 230 EBT $ 2,120…
Presented below is the balance sheet of Sheffield Corporation for the current year, 2025. Current assets Investments 643,870 Property, plant, and equipment 1,723,870 Intangible assets 305,000 1. 2. 3. The following information is presented. The current assets section includes cash $153,870, accounts receivable $173,870 less $13,870 for allowance for doubtful accounts, inventories $183,870, and unearned rent revenue $8,870. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. 4. 5. Sheffield Corporation Balance Sheet December 31, 2025 $ 488,870 6. 7. $3,161,610 Current liabilities Long-term liabilities Stockholders' equity $ 383,870 1,003,870 1,773,870 $3,161,610 The investments section includes the cash surrender value of a life insurance contract $43,870; investments in common stock, short-term $83,870 and long-term $273,870; and bond sinking fund $242,260. The cost and fair value of investments in common stock are the same. Property, plant, and equipment includes…
Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000 should be entered as 10).) WRIGHT COMPANY Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Cash inflows: Cash outflows: Net cash flows from operating activities. Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31
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…
Use the information below for Privett Company to answer the questions that follow. Privett Company Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point?
Selected financial data for Wilmington Corporation is presented below. WILMINGTON CORPORATION Balance Sheet As of December 31 Year 7 Year 6 Current Assets Cash and cash equivalents $ 634,527 $ 335,597 Marketable securities 166,106 187,064 Accounts receivable (net) 284,226 318,010 Inventories 466,942 430,249 Prepaid expenses 60,906 28,060 Other current assets 83,053 85,029 Total Current Assets 1,695,760 1,384,009 Property, plant and equipment 1,384,217 625,421 Long-term investment 568,003 425,000 Total Assets $3,647,980 $2,434,430 Current Liabilities Short-term borrowings $ 306,376 $ 170,419 Current portion of long-term debt 155,000 168,000 Accounts payable 279,522 314,883 Accrued liabilities 301,024 183,681 Income taxes payable 107,509 196,802 Total Current Liabilities 1,149,431…

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Harding Company
Accounts payable	$36,068
Accounts receivable	67,962
Accrued liabilities	6,331
Cash	21,747
Intangible assets	38,687
Inventory	88,371
Long-term investments	111,372
Long-term liabilities	75,442
Notes payable (short-term)	25,371
Property, plant, and equipment	645,701
Prepaid expenses	2,435
Temporary investments	31,403