Wilcox's days payable outstanding is: Wilcox Corporation Balance Sheet Accounts Cash $25 $85 Payable Short-term Accrued $15 $45 Investments Liabilities Long- Accounts $70 term $240 Receivable Debt Common Inventory $150 $80 Stock Property, Retained Plant, & $390 $410 Earnings Equipment Goodwill $210
Q: Blaser Corporation had $275,000 in invested assets, sales of $330,000, operating income amounting to…
A: Step 1: The calculation of the return on investment Return on investment = Net operating income /…
Q: None
A: To find the answers to these questions, you'll need to refer to the financial statements of American…
Q: Alta Company is constructing a production complex that qualifies for interest capitalization. The…
A: let's work through this step-by-step: 1. Compute the amount of interest costs capitalized each…
Q: eBook: Excel Applications for Accounting Principles me as I TIVIL VAN14. T TITUITE WorkSheet when…
A: In analyzing a chart representing variances, it's crucial to understand the context of the data…
Q: Carla Vista Company signed a lease for an office building for a period of 10 years. Under the lease…
A: Compute the amount at the time the lease expires: Amount at the time the lease expires = Security…
Q: The Railway Corporation has an overhead crane that has an estimated remaining life of 9 years. The…
A: Part 2:Approach to solving the question:To determine whether the Railway Corporation should replace…
Q: Gibson Manufacturing Company makes a product that sells for $74.60 per unit. Manufacturing costs for…
A: Step 1: Step 2: Step 3: Step 4:
Q: Solano Company has sales of $700,000, cost of goods sold of $470,000, other operating expenses of…
A: Please comment down for any doubt. I hope my answer helps you.
Q: Haresh
A: 1. Identify Expenses:Expense: Description of the cost incurred.Amount: Dollar amount spent on each…
Q: Please help me with all answers I will give upvote thanku
A: Step 1:To solve this problem, we need to use the given information and the formulas for contribution…
Q: Mason Corporation had $1,130,000 in invested assets, sales of $1,283,000, operating income amounting…
A: Step 1:Given:Invested assets = $1,130,000Sales = $1,283,000Operating income = $236,000Desired…
Q: N CPA Portal ← ← C WP WPUNJ WPConnect Portal LTI Launch × M Question 6 - Ch.9 Homework ✓ + Help…
A: Explanation:Assuming Icebreaker designates the forward contract as a cash flow hedge of a foreign…
Q: Hardev
A: Self explanatoryHope the answer was helpful. If any doubts feel free to ask for further…
Q: On June 13, the board of directors of Siewert Incorporated declared a 2-for-1 stock split on its 50…
A: **1. Understanding the Stock Split:** Siewert Incorporated declared a 2-for-1 stock split in the…
Q: shares of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $25…
A: Let's take a closer look at each transaction and how it affects the balance sheet's general journal…
Q: Alpesh
A: FAB Corporation - Activity Variances - March 2024Cost Category Cost Formula Budgeted Activity Level…
Q: Burger Office Equipment produces two types of desks, standard and deluxe. Deluxe desks have oak tops…
A: Part 2: Approach to solving the questionTo solve this linear optimization problem and find the…
Q: 4
A: Analyzing the Jet Ski Division's PerformanceDuPont Formula for Return on Investment (ROI):ROI =…
Q: "Your answer has been saved. See score details after the due date. 2025, Carla Vista Corporation…
A: Discontinuing OperationsThe net result of discontinuing operations should be reported as "Results of…
Q: answer in text from with all workings no AI no copy paste
A: Answer = option(d) It will decrease by $55,800Step 1:Given:Sales = $221,000Variable costs =…
Q: Totals 790 units $ 10,515 385 units Record journal entries for Laker Company's sales and purchases…
A: Step 1: It is given that the company uses a perpetual inventory system and FIFO METHOD to record the…
Q: REQUIRED Calculate the following from the information given below: 4.1.1 Payback Period (expressed…
A: Part 2: ExplanationStep 1: Calculate the Payback PeriodThe Payback Period is the time it takes for…
Q: Consider the following information: Initial cost of equipment $108,000 Sales tax and delivery costs…
A: Now, let's calculate the present value of each annual net cash flow using the discount rate of…
Q: None
A: Compute net present value (NPV):Formulas:Since NPV is negative, the machine should not be bought.
Q: A brand manager for ColPal Products must determine how much time to allocate between radio and…
A: Step 1: Step 2:This graph drawn by Desmos. Step 3:Step 4:
Q: 12. During the year ended 30 June 2015 Barry Ltd, pays quarterly tax installments as follows: $4000…
A: Step 1: Calculate the total tax paid. October 28, 2014 - $4,000February 28, 2015 - $11,000April 28,…
Q: Ashvinbhai
A: Here's the depreciation schedule for Pell Corporation for the year ended December 31, 2024:Land…
Q: plus a small base salary. The following data pertains to Shop 48 and is typical of the company's…
A: Part 2: Explanation:Step 1: Calculate the break-even point in pairs of shoes.The break-even point is…
Q: A partnership has total equity of $485,000. Partnership equity consists of Green, Capital, $338,000,…
A:
Q: For calendar year 2022, Stuart and Pamela Gibson file a joint return reflecting AGI of $343,400.…
A: To calculate the amount of itemized deductions the Gibsons may claim for the year, we need to…
Q: Lewis Industries owns 600,000 shares of Compton Corporation, which it originally purchased for $8…
A: The reduction in stockholders' equity for Lewis Industries due to the share distribution is…
Q: P Corporation acquires all of S Corporation's stock at the close of business on December 31 of Year…
A: The consolidated taxable income for each of Years 2 through 5 is provided in the table you…
Q: Budget Variances, Materials and Labor 1 Cinturon Corporation produces high-quality leather belts.…
A: Cinturon Corporation: Budget Variances1. Compute the costs of leather and direct labor that should…
Q: Brandon had only earned income for 2023 and was interesting if he could be eligible for the earned…
A: Brandon is eligible for the earned income credit (EIC), which is a tax credit that can be refunded…
Q: As a result of a slowdown in operations, Tradewind Stores is offering employees who have been…
A: The present value of the severance package offered by Tradewind Stores.Given:- Cash payment today:…
Q: None
A: Compute dividend per share for each class of stock:Formulas:
Q: ** *Hard On January 1, 2024, James Bond Inc. issued bonds with a par value of $1,000,000 that mature…
A: Calculate the present value of the bond using Excel as follows:Formula sheet:Note:To understand the…
Q: The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values…
A: The statement of cash flows for Fincorp Incorporated in 2022 provides a detailed overview of the…
Q: Please do not give solution in image format thanku
A: Total fixed cost remains the same regardless of volume. Case 1 Case 2 Case 3 Sales price per unit…
Q: ghfdfg
A: AH = Actual hoursSH = Standard hoursAR = Actual rateSR = Standard rateAQ = Actual quantitySQ =…
Q: Consider a European call option on a non-dividend-paying stock where the stock price is $33, the…
A: (a) Finding the up and down factors (u & d):Imagine a one-step decision tree where the stock…
Q: Consider the two (excess return) index model regression results for A and B. RA = 1.5% + 1.7RM…
A: a. Which stock has more firm-specific risk?Stock B (9.8% residual standard deviation) has less…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: Using the factor table provided, we can find the present value factor for 6 years at 8%…
Q: Break-Even in Units, After-Tax Target Income, CVP Assumptions Campbell Company manufactures and…
A: Requirement 1Breakeven point is the sales level where revenue is equal to expenses, meaning no…
Q: None
A: Actual overhead = 219,600Budgeted variable overhead costs = (24,400 hours x $7.45) + 42,900 =…
Q: 40
A: To calculate the interest coverage ratio (net income basis) for Jackson Company, we need to use the…
Q: Please do not give solution in image format thanku
A: 2. Investment Center II:a. Calculate the expected decrease in controllable fixed costs:Decrease in…
Q: A company records an unrealized profit on short-term securities. This would result in what type of…
A: Company Information:Macon Machines Company deals in selling high-end robots.They use a perpetual…
Q: Strong Arm Steve, a cash basis calendar year taxpayer, runs an illegal protection business.…
A: Let's break down the deductions for Strong Arm Steve's expenses:Operating expenses in conducting his…
Q: Required information [The following information applies to the questions displayed below.] The…
A: The reissuance of treasury stock for an amount higher than the purchase price would result in a gain…
Step by step
Solved in 2 steps
- A comparative balance sheet for Gena Company appears below:GENA COMPANYComparative Balance SheetDec. 31, 2021 Dec. 31, 2020AssetsCash $ 34,000 $11,000Accounts receivable 21,000 13,000Inventory 35,000 17,000Prepaid expenses 6,000 9,000Long-term investments -0- 17,000Equipment 60,000 33,000Accumulated depreciation—equipment (20,000) (15,000)Total assets $136,000 $85,000Liabilities and Stockholders' EquityAccounts payable $ 17,000 $ 7,000Bonds payable 36,000 45,000Common stock 53,000 23,000Retained earnings 30,000 10,000Total liabilities and stockholders' equity $136,000 $85,000Additional information:1. Net income for the year ending December 31, 2021 was $35,000.2. Cash dividends of $15,000 were declared and paid during the year.3. Long-term investments that had a cost of $17,000 were sold for $14,000.4. Depreciation expense for the year was $5,000.InstructionsPrepare a full statement of cash flows for the year ended December 31, 2021, using the indirectmethod.The comparative balance sheets for Metlock Corporation show the following information. December 312020 2019Cash $33,500 $12,900Accounts receivable 12,400 10,000Inventory 12,100 9,000Available-for-sale debt investments –0– 3,000Buildings –0– 29,800Equipment 44,800 19,900Patents 5,000 6,300 $107,800 $90,900Allowance for doubtful accounts $3,100 $4,500Accumulated depreciation—equipment 2,000 4,500Accumulated depreciation—building –0– 6,000Accounts payable 5,000 3,000Dividends payable –0– 4,900Notes payable, short-term (nontrade) 3,000 4,100Long-term notes payable 31,000 25,000Common stock 43,000 33,000Retained earnings 20,700 5,900 $107,800 $90,900 Additional data related to 2020 are as follows. 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500.2. $10,000 of the long-term note payable was paid by issuing common stock.3. Cash dividends paid were $4,900.4. On January…Cullumber company has these comparative balance sheet data:
- What is Ratio Corporation's Fiscal 2021 Times Interest Earned Ratio? 1.41 2.57 4.5 1.63Pharoah Corporation’s comparative balance sheet is presented below. PHAROAH CORPORATIONBalance SheetDecember 31 Assets 2021 2020 Cash $12,010 $8,980 Accounts receivable 17,810 19,660 Land 16,800 21,840 Buildings 58,800 58,800 Accumulated depreciation—buildings (12,600 ) (8,400 ) Total $92,820 $100,880 Liabilities and Shareholders’ Equity Accounts payable $10,390 $26,120 Common shares 63,000 57,960 Retained earnings 19,430 16,800 Total $92,820 $100,880 Additional information: 1. Profit was $19,010. Dividends declared and paid were $16,380. 2. No noncash investing and financing activities occurred during 2021. 3. The land was sold for cash of $4,120 resulting in a loss of $920 on the sale of the land. Prepare a cash flow statement for 2021 using the indirect method. Lu…Information for Crane Company is given below: Crane Company Balance Sheet December 31, 2021 Assets Equities Cash $ 302000 Accounts payable $ 625000 Accounts receivable (net) 1955000 Income taxes payable 193000 Inventories 2436000 Miscellaneous accrued payables 227000 Plant and equipment, Bonds payable (8%, due 2023) 1900000 net of depreciation 1983000 Preferred stock ($100 par, 6% Patents 262000 cumulative nonparticipating) 700000 Other intangible assets 75000 Common stock (no par, 60,000 Total Assets $7013000 shares authorized, issued and outstanding) 1127000 Retained earnings 2464000 Treasury stock-1500 shares of preferred (223000) Total Equities $7013000 Crane…
- Jamison Corp.'s balance sheet accounts as of December 31, 2021 and 2020 and information relating to 2021 activities are presented below. December 31, 2021 2020 AssetsCash $ 440,000 $ 200,000Short-term investments 600,000 —Accounts receivable (net) 1,020,000 1,020,000Inventory 1,380,000 1,200,000Long-term investments 400,000 600,000Plant assets 3,400,000 2,000,000Accumulated depreciation (900,000)…Category. Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 429,735.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,152.00 Interest expense 40,500 42,662.00 Inventories 279,000 288,000 Long-term debt 339,349.00 400,985.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,641.00 Retained earnings 306,000 342,000 Sales 639,000 848,846.00 Тахes 24,750 47,931.00Vaughn Manufacturing Balance Sheet December 31, 2021 Assets Equities Cash $ 302000 Accounts payable $ 640000 Accounts receivable (net) 1942000 Income taxes payable 185000 Inventories 2451000 Miscellaneous accrued payables 230000 Plant and equipment, Bonds payable (8%, due 2023) 1850000 net of depreciation 1984000 Preferred stock ($100 par, 6% Patents 262000 cumulative nonparticipating) 752000 Other intangible assets 75200 Common stock (no par, 60,000 Total Assets $7016200 shares authorized, issued and outstanding) 1122000 Retained earnings 2466200 Treasury stock-1500 shares of preferred (229000) Total Equities $7016200 Vaughn Manufacturing Income Statement Year Ended December 31, 2021 Net…
- Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne EnterprisesCurrent assets:Cash and cash equivalents $ 2,494 $ 541Current investments 125Net receivables 1,395 217Inventory 10,710 8,600Other current assets 773 301Total current assets $15,372 $9,784Current liabilitiesCurrent debt $ 1,321 $ 47Accounts payable 8,871 5,327Other current liabilities 1,270 2,334Total current…Sandhill Co. reported the following information for 2020: Sales revenue $2520000 Cost of goods sold 1748000 Operating expenses 282000 Unrealized holding gain on available-for-sale securities 85700 Cash dividends received on the securities 9200 For 2020, Sandhill would report comprehensive income of A.$85700. B.$499200. C.$575700. D.$584900.QUESTION 4 REQUIRED 4.1 Use the information provided below to calculate the following ratios. Where applicable, express answers to two decimal places. 4.1.1 Profit margin 4.1.2 Debtors collection period 4.1.3 Return on equity 4.1.4 Acid test ratio 4.1.5 Debt to assets 4.1.6 Return on assets 4.1.7 Interest coverage 4.2 Comment on the current ratio which was 1.56:1 in 2019 and 2.19:1 in 2020. 4.3 Provide two possible reasons for a drop in the gross margin from 27.35% in 2019 to 15.82% in 2020. INFORMATION Extracts of the financial statements of Sibaya Limited are as follows: SIBAYA LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2020 Sales (all credit) 2 409 000 Cost of sales (2 028 000) Gross profit Operating expenses Operating profit Interest expense 381 000 (276 000) 105 000 (36 000) Profit before tax 69 000 Income tax (19 320) Profit after tax 49 680
