Which of the following correctly describes the effect of the collection of cash from the credit card company on the financial statements of Yankee Corporation?Assets = LiabilitiesΝΑΝΑA. 582 (582)B.582C. 582 (582)D.600Multiple ChoiceOOOption BOption COption ABalance SheetOption DΝΑ582+Stockholders'EquityΝΑΝΑΝΑΝΑRevenueΝΑ582ΝΑΝΑIncome Statement-ExpenseΝΑΝΑΝΑNANet IncomeΝΑ582ΝΑΝΑStatement ofCash Flows582 OA582 OAΝΑ582 OA

The accounting equation serves as the foundation for double-entry bookkeeping, which assures that…

Which of the following correctly describes the effect of the collection of cash from the credit card company on the financial statements of Yankee Corporation? Balance Sheet Income Statement Assets. = Liabilities ΝΑ ΝΑ ΝΑ 582 A. 582 (582) B. 582 C. 582 (582) D. 600 Multiple Choice O O O Option B Option C Option A Option D + Stockholders' Equity ΝΑ ΝΑ ΝΑ ΝΑ . Revenue ΝΑ 582 NA ΝΑ Expense ΝΑ ΝΑ ΝΑ ΝΑ = Net Income NA 582 ΝΑ ΝΑ Statement of Cash Flows 582 QA 582 0A NA 582 0A

Which of the following correctly describes the effect of the collection of cash from the credit card company on the financial statements of Yankee Corporation? Balance Sheet Income Statement Assets. = Liabilities ΝΑ ΝΑ ΝΑ 582 A. 582 (582) B. 582 C. 582 (582) D. 600 Multiple Choice O O O Option B Option C Option A Option D + Stockholders' Equity ΝΑ ΝΑ ΝΑ ΝΑ . Revenue ΝΑ 582 NA ΝΑ Expense ΝΑ ΝΑ ΝΑ ΝΑ = Net Income NA 582 ΝΑ ΝΑ Statement of Cash Flows 582 QA 582 0A NA 582 0A

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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According to the information given in the table below, which of the following is cash flow from financing? Net income 68,300 Decrease in Bank Loan 49,400 Increase in Bonds 22,500 Decrease in Equipment 38,250 Increase in Common stock 41,000 Select one: a. 30100 b. 55200 c. 33000 d. 14100
Use the following information to determine cash flows from financing activities.
b. What is the ratio of real assets to total assets for nonfinancial firms in the following table? (Round your answer to 4 decimal places.) $ Billion Liabilities and Net Worth Liabilities Bonds and mortgages Bank loans $ 5,364 758 1,338 Other loans Trade debt 1,738 Other 4,608 $13,806 Assets Real assets Equipment and software Real estate Inventories Total real assets Financial assets Deposits and cash Marketable securities Trade and consumer credit Other Total financial assets Total $ Billion % Total $ 4,402 16.4% 36.3 9,749 1,734 6.5 $15,885 59.1% Ratio for nonfinancial firms $ 677 2.5% 1,056 3.9 2,282 8.5 6,968 25.9 $10,983 40.9% $26,868 100.0% Total liabilities Net worth $13,062 $26,868 % Total 20.0% 2.8 5.0 6.5 17.2 51.4% 48.6% 100.0% 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, Board of Governors of the Federal Reserve System, September 2018.
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With the help of accounting ratios, Critically analyse the Profitability performance of the Apple company.
The following information is available for Davis Company and Bender Inc.: Account Cash Cash equivalents Current notes receivable Accounts receivable Prepaid expenses Inventory Fixed assets Accumulated depreciation-Fixed assets Accounts payable Current accrued liabilities Mortgage payable Equity Total Davis Company Dr. $321 88 56 603 55 714 920 $2,757 Davis Company Cr. $415 260 213 917 952 $2,757 Bender Inc. Dr. $425 95 46 307 85 898 755 $2,611 a. Compute the quick ratio for each company. Round ratios to two decimal places. Bender Inc. Cr. $225 198 149 824 1,215 $2,611
The purchase of stock of another company as an investment would appear on the statement of cash flows as an O a a. outflow of cash in the investing activities section Ob. outflow of cash in the financing activities section O c. outflow of cash in the operating activities section Od. item listed in a separate schedule of noncash investing and financing activities
What is Bank A's ROA based on Figure 1 Balance Sheet ($ in Millions): Assets Liability and Equity Cash $850 Deposits $6,475 Securities 1,925 Other borrowing 1,645 Loans 5,400 Equity 1,030 Other 975 Total $9,150 Total $9,150 Figure 2 Income Statement ($ in Millions): Interest income on loans $450 Interest income on securities 95 Interest expense 246 Noninterest income 78 Noninterest expense 112 Provision for loan loss 35 Taxes 115 Net Income $115 Based on Figures 1 and 2, what is Bank A's Equity Multiplier? A. 8.88 B. 4.75 C. 7.23 D. 8.11
Explanation The margin requirement is set by the b. SEC (SecuritiesanExch
Use the following ratios from Walmart, Target, and Dollar General to answer Questions 12-13. Ratio Liabilities-to-equity ratio Times interest earned Cash from operations to total debt Walmart 1.246 11.49 0.787 Target O Target O Walmart O This cannot be determined based on the information given O Dollar General 1.275 15.11 0.447 Dollar General 1.17 7.85 0.974 Based on the information given, which of the three companies is better able to cover its interest expense with current income? 3.33 pts
Manually journalize the following: a. Bank transfer from any bank to 1612CN amounting P30,000 b. cash Payment amounting P1000 to Acme Corporation. c. the company issued ordinary share capital worth of P 5,000, payment received and deposited on its GBP Bank Account 1 Dr. GBP Bank Account 1 P 5,000 Cr. Ordinary Share Capital P 5,000 d. the company recorded a Salary Expense worth of P 2500, paid for through the company's GBP Bank Account 1. Dr. Salaries and Wages P 2500 Cr. GBP Bank Account 1 P 2500 2 e. the company will pay a total of P 1500 from the Petty Cash fund for transportation related expenses. This transaction is still subject to supervisor's approval.