23:23 ® O N •Voll il 22%!LTE1TSaveQuestion 20Worldwide Corp.'s statement of financial position accounts as of December 31, 2019and 2018 and information relating to 2019 activities are presented below.IncorrectMark 0.00 out ofDecember 313.0020192018AssetsCash$440,000$160,000Short-term investments800,000Accounts receivable (net)1,130,0001,230,000Inventory1,210,0001,050,000Long-term investments400,000600,000Plant assets3,100,0002,000,000Accumulated depreciation(700,000)(900,000)Patent280,000300,000Total assets$6,660,000$4.440.000Liabilities and Equity.Accounts payable$1,620,000$1,330,000Other accrued liabilities200,000250,000Notes payable (nontrade)560,000-Common Stock-$10 par1,600,0001,400,000Additional paid-in capital800,000500,000Retained earnings1.880,000960,000Total liabilities and equity$6,660,000$4,440.000Information relating to 2019 activities:• Net income for 2019 was $1,250,000. This amount includes net sales revenue of$4,500,000 and cost of goods sold of $2,100,000.• Equipment casting $1,000,000 and having a carrying amount of $320,000 was soldin 2019 for $360,000.• A long-term investment was sold in 2019 for $345,000. There were no othertransactions affecting long-term investments in 2019.• 20,000 ordinary shares were issued in 2019 for $25 a share.• Short-term investments consist of treasury bills maturing on 9/30/20.Compute net cash provided by operating activities.A) $1,745,000B) $3,470,000C) $1,450,000D) $2,595,000Select one:16/ 19 >II

Calculation of Cash Flow from Operating Activities. Net Income 1250000 Adjustment for…

Worldwide Corp.'s statement of financial pasitian accounts as of December 31, 2019 and 2018 and information relating to 2019 activities are presented below. December 31. 2019 2018 Assets Cash $440,000 $160,000 Short-term investments 800,000 Accounts receivable (net) 1,130,000 1,230,000 Inventory 1,210,000 1,050,000 Long-term investments 400,000 600,000 Plant assets 3,100,000 2,000,000 Accumulated depreciation (700,000) (900,000) Patent 280.000 300.000 Total assets $6.660.000 $4.440.000 Liabilities and Equity.

Worldwide Corp.'s statement of financial pasitian accounts as of December 31, 2019 and 2018 and information relating to 2019 activities are presented below. December 31. 2019 2018 Assets Cash $440,000 $160,000 Short-term investments 800,000 Accounts receivable (net) 1,130,000 1,230,000 Inventory 1,210,000 1,050,000 Long-term investments 400,000 600,000 Plant assets 3,100,000 2,000,000 Accumulated depreciation (700,000) (900,000) Patent 280.000 300.000 Total assets $6.660.000 $4.440.000 Liabilities and Equity.

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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Provide statement of financial position
Jaez Corporation is in the process of going through a reorganization. As of December 31, 2020, the company's accountant has determined the following information although the company is still several months away from emerging from the bankruptcy proceeding. ts Book Value Fair Value Assets Cash $ 23,000 45,000 140,000 220,000 154,000 $ 23,000 47,000 210,000 260,000 157,000 eBook Inventory Land Buildings Equipment Print ferences Allowed Claims Expected Sett lement Liabilities as of the date of the order for relief Accounts payable Accrued expenses Income taxes payable Note payable (due 2023, secured by land) Note payable (due 2025) Liabilities since the date of the order for relief Accounts payable Note payable (due 2022) Stockholders' equity Common stock Deficit $ 123,000 $ 20,000 30,000 22,000 100,000 170,000 4,000 18,000 100,e00 80,000 $ 60,000 110,000 200,000 (233,000) Prepare the balance sheet for Jaez Corporation. (Neative amounts should be indicated bv a minus sian.) nc Graw lill…
PROBLEM 8:Tomas Co. has the following balance sheet as of December 31, 2021.Current assets 180,000.00Fixed assets 120,000.00Total assets 300,000.00Accounts payable 40,000.00Accrued liabilities 20,000.00Notes payable 50,000.00Other Long-term debt 75,000.00Total Equity 115,000.00Total liabilities and equity 300,000.00 In 2021, Tomas Co. reported sales of P1,500,0000, net income of P30,000, and dividends of P18,000. The company expected its sales to increase by 20% by next year and its retention ratio will remain at 40%. Assume that Tomas Co. is operating at full capacity and it uses the AFN approach in determining the amount of external financing needed.How much is the sales for 2022? Using Problem 8, how much is the increase in retained earnings for the purpose of computing the AFN? Using Problem 8, how much external funds needed for the year 2022?
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tion 8Income statement for the year ended 31 December, 2019 of KKMTN Ghana Ltd2018 2019ȼ ‘000 ȼ ‘000Turnover 420,000 523,600Cost of sales (330,000) (417,200)Gross profit 89,000 106,400Expenses:Administration 44,600 50,200Selling and distribution 15,400 (60,000) 19,600 (69,800)Profit before interest 29,000 36,600Debenture interest - (2,800)Net profit before tax 29,000 33,800Taxation (8,000) (10,000)Net Profit after tax 21,000 23,800Ordinary dividend paid 8,400 9,250Ordinary shares issued 12 million and trading at ȼ3 each as at yesterday onGSE.You are required to compute the following investment ratios:a). Earnings per shareb). Dividend per sharec). Payout ratiod). Price earnings ratioe). Earnings yield
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