Woodcrest Industries doubled its amount of assets from the beginning to the end of the year. Liabilities at the end of the year amount to $500,000, and owner's equity is $50,000. What is the amount of Woodcrest's assets at the beginning of the year?
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- Stale Bread Co. had net income in the current year of $700,000. Depreciation expense for the year was $80,000. Between the beginning and the end of the current year the company's accounts payable (all to suppliers of raw materials) increased $100,000 while accounts receivables from customer sales also increase by $150,000. The company also issued a long-term bond payable in exchange for receiving $300,000 cash. Compute the amount of cash provided or used for OPERATING ACTIVITIES, only, by the indirect method.Fallway, Inc. had current assets of $121,800 and current liabilities of $114,300 last year. This year, the current assets are $118,600 and the current liabilities are $100,400. The depreciation expense for the past year is $13,500 and the interest paid is $3,000. What is the amount of the change in net working capital?Need help!!
- Metlock Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,908,000 on March 1, $1,308,000 on June 1, and $3,015,990 on December 31. Compute Metlock's weighted-average accumulated expenditures for interest capitalization purposes. Weighted-average accumulated expenditures $XYZ Co. has current assets of OR 75000 and total assets of OR 210000. It has current liabilities of OR 45000 and total liabilities of OR 110000. If during the year he had drawings OR 7500, retained earnings OR 34000 & Net Profit for the year OR 12500. What will be the amount of XYZ's Opening Capital?The Boezi Corporation is beginning to report its financial statements at the end of Year Six. Preliminary information indicates that the company holds $90,000 in current assets and $210,000 in noncurrent assets. The company also plans to report current liabilities of $40,000 and noncurrent liabilities of $160,000. However, at the very end of the year, two final transactions take place. First, a $12,000 payment is made on an account payable. Second, a $21,000 collection is received from an account receivable. After recording these two transactions, what should the company report as the amount of its working capital? After recording these two transactions, what should the company report as its current ratio?
- Larkspur Inc. is constructing a building. Construction began on March 1 and was completed on December 31. Expenditures were $732,000 on March 1, $976,000 on July 1, and $878,400 on December 1. Compute Larkspur's weighted-average accumulated expenditures for interest capitalization purposes. Weighted-Average Accumulated Expenditures %24Metlock Inc. is constructing a building. Construction began on March 1 and was completed on December 31. Expenditures were $624,000 on March 1, $832,000 on July 1, and $748,800 on December 1. Compute Metlock's weighted-average accumulated expenditures for interest capitalization purposes. Weighted-Average Accumulated Expenditures $Subject : Accounting On January 1, Boston Company completed the following transactions (use a 7% annual interest rate for all transactions): (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) Borrowed $117,200 for nine years. Will pay $7,100 interest at the end of each year and repay the $117,200 at the end of the 9th year. Established a plant remodeling fund of $491,650 to be available at the end of Year 10. A single sum that will grow to $491,650 will be deposited on January 1 of this year. Agreed to pay a severance package to a discharged employee. The company will pay $76,100 at the end of the first year, $113,600 at the end of the second year, and $151,100 at the end of the third year. Purchased a $175,500 machine on January 1 of this year for $35,100 cash. A five-year note is signed for the balance. The note will be paid in five equal year-end payments starting on December 31 of this year. Required: 1. In transaction (a),…