Using the following Balance Sheet summary information, for the two years presented calculate the working capital for 2018 and 2019 respectively: Current Assets 12/31/2018 is $101,600/ 12/31/2019 is $97,350 current liabilities 12/31/2018 is $33,650/ 12/31/2019 is $32,800
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Using the following
Current Assets 12/31/2018 is $101,600/ 12/31/2019 is $97,350
current liabilities 12/31/2018 is $33,650/ 12/31/2019 is $32,800
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- Using the information from question 1, calculate the current ratio for 2018 and 2019 respectively: 12/31/2018 12/31/2019 Current Assets $101,600 $97,350 Current Liabilities ($33,650) ($32,800) Working Capital (CA-CL) $67,950 $64,550In its November 2018 press release, AT&T revealed that CAPEX for fiscal 2019 was expected to be in the $23 billion range. How will this planned expenditure affect operating, investing, and financial activities in 2019?Balance Sheet Calculations. Fermer Company's balance sheet information at the end of 2019 and 2020 is as follows: 2019 Total shareholders' equity Accumulated other comprehensive income Current liabilities Intangible assets Property, plant, and equipment (net) Current assets Total contributed capital Long-term liabilities Retained earnings Total assets Common stock, $10 par Working capital Additional paid-in capital Long-term Investments Total liabilities Current accets Cong-term investments Property, plant, and equipment (net) Intangible assets ✓ Total assets $ (a) 4,800 (b) 12,600 (c) Current abilities Long-term abilities Total liabilities Common stock 10 par Additional paid-in capital Total contributed capital Retained earnings -V Accumulated other comprehensive income 18,000 51,000 (d) Total shareholders equity Total liabilities and shareholderslequity 40,900 (e) (1) 9,900 (0) (m) (n) Additional information: At the end of 2019, additional paid-in capital is twice the amount of…
- On January 1, 2021, the company obtained a $3 million loan with a 11% interest rate. The building was completed on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 March 1, 2021 $1,200,000 660,000 520,000 620,000 360,000 675,000 1,080,000 June 30, 2021 October 1, 2021 January 31, 2022 April 30, 2022 August 31, 2022 On January 1, 2021, the company obtained a $3 million construction loan with a 11% interest rate. Assume the $3 million loan is not specifically tied to construction of the building. The loan was outstanding all of 2021 and 2022. The company's other interest-bearing debt included two long-term notes of $4,200,000 and $6.200,000 with interest rates of 6% and 8%, respectively. Both notes were outstanding during all of 2021 and 2022. Interest is paid annually on all debt. The company's fiscal year-end is December 31. Required: 1. Calculate the amount of interest that Mason should capitalize in 2021 and 2022 using the weighted-average method. 2.…Research and development cost for Herald Corporation for the year ended December 31, 2018: Project A - Expected total revenues P7,000,000, starting in early 2018. Expected total costs will be P5,000,000. Costs incurred to date, all in 2019, are P2,200,000. Project B - Expected total revenues P6,000,000. Costs incurred to date are P3,500,000. Expected total costs are P4,500,000. The commencement of commercial sales is uncertain due to problems in raising funds to cover the final development costs. Project C - Expected total revenues, P3,500,000 with P1,000,000 of revenue already earned in 2018. Total development costs incurred, all in 2018, were P3,800,000. Research projects. Total costs spend in 2018 were P1,500,000. What total amount should be charged against income in 2018 related to the research and development costs?On the balance sheets, what is the most recent fiscal year reported? Fiscal year 2020, ending on February 1, 2020 Fiscal year 2020, ending on January 30, 2021 Fiscal year 2021, ending on February 1, 2020 Fiscal year 2021, ending on January 30, 2021
- Use the following information for questions 7 to 8: Sarah Company started construction of its administration building at an estimated cost of P50,000,000 on January 1, 2020. The construction is expected to finish by December 31, 2022. Sarah has the following debt obligations outstanding during 2020: Construction loan - 12% interest payable semiannually, issued December 31, 2019 P 20,000,000 Short-term loan - 10% interest payable monthly, principal payable at maturity on January 1, 2021 14,000,000 Long-term loan - 11% interest payable on January 1 of each year. Principal payable on January 1, 2024 10,000,000 The weighted-average of the accumulated expenditures during 2020 was P36,000,000. How much interest expense should Sarah Company report in 2020? ans: 833,333 What amount of interest incurred in 2020 should be included in the cost of the building being constructed? ans: 4,066,667 Provide solutions.Below are three independent scenarios concerning the GST account balance and the effect on the Statement of Financial Position in the previous year (2023) and the current year (2024). SFP as at 31/3/2023 Scenario 1 GST liability of $267 Scenario 2 GST asset of $267 Scenario 3 GST asset of $267 SFP as at 31/3/2024 GST asset of $769 GST asset of $769 GST liability of $769 Required: Correctly insert the opening and closing balances into the three independent GST general ledger accounts provided in the answer booklet. Balance each of the three GST general ledger accounts and insert the opening balance for 1 April 2024.Total capital as of December 31, 2019
- On 1st July 2019, the Director Finance of Sapphire Fabrics Ltd., wishes to know the working capital requirement for the current year to arrange the short-term financing. The following information are available: (i) Issued and paid-up capital Rs. 4,000,000. (ii) 10% TFCs Rs. 1,000,000. (iii) Fixed assets valued at Rs. 2,500,000 on 30th June 2019. The depreciation for the current year is Rs. 250,000. (iv) Production during the previous year was 4,000 units. It is planned that this level of activity should be increased by 50% during the current year. (v) The expected ratios of cost to selling price are ñ raw materials 60%, direct wages 10%, and overheads 20%. (vi) Raw materials are expected to remain in stores for an average of two months before these are issued for production. (vii) Each unit of production is expected to be in process for one month. (viii) Finished goods will stay in warehouse for approximately three months. (ix) The suppliers grant credit for two months from the date of…On December 31, 2020, the pre-closing trial balance of Agency GHI shows the following totals: Current Assets P600,000, Property, Plant and Equipment, P800,000, Current Liabilities 500,000, Subsidy Income from NG 50,000 Expenses 40,000. What is the Accumulated Surplus/Deficit balance at December 31, 2020?The summarized balance sheet of WIPRO Itd forthe year ended 31/03/2020 and 31/03/2021 are given below. Prepare funds flow statement. Liabilities Equity share capital General Reserve Pro fit&loss a/c Sundry Creditor Provision for Tax 2020 5,00,000 2,00,000 40,000 1,58,000 45,000 2021 Assets 2020 2021 Land & Building 6,00,000 2,20,000 1,32,000 1,72,000 30,000 1,80,000 Plant and Machinery 2,10,000 80,000 2,00,000 1,70,000 1,03,000 9,43,000 3,00,000 2,76,000 95,000 1,90,000 1,95,000 98,000 11,54,000 Other fixed Assets Stock Debtors Cash at bank Total 9,43,000 The following adjustment the company faces during the year. 11,54,000 Total Dividend Rs. 30,000 was paid during the year. An old machinery costing 1,20.000 was sold for 1,00,000 and the depreciation Rs 50,000.
