INTERMEDIATE ACCOUNTING (LL) W/CONNECT
9th Edition
ISBN: 9781260679694
Author: SPICELAND
Publisher: MCG
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Chapter 3, Problem 3.1E
• LO3–2, LO3–3, LO3–8
| Cash and cash equivalents | $ 5,000 |
| 20,000 | |
| Inventories | 60,000 |
| Property, plant, and equipment (net) | 120,000 |
| Accounts payable | 44,000 |
| Wages payable | 15,000 |
| Paid-in-capital | 100,000 |
The only asset not listed is short-term investments. The only liabilities not listed are a $30,000 note payable due in two years and related accrued interest of $1,000 due in four months. The
Required:
Determine the following at December 31, 2018:
1. Total current assets
2. Short-term investments
3.
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AQUIL and BADIR formed a partnership on
January 2, 2022 by contributing their
respective assets and equities subject to
adjustments. On that date, the following
were provided:
Cash
Accounts Receivable
Inventories
Land
Building
Equipment
Intangible assets
Accounts Payable
Other Liabilities
Capital
AQUIL BADIR
28,000 62,000
200,000 600,000
120,000 200,000
600,000
500,000
50,000 35,000
2,000 3,000
180,000
250,000
200,000 350,000
OZU,UUU 800,000
ku.0
Pergunta 11
Use the information for the question(s) below.
Omicron Industries Market Value Balance Sheet (5 Millions)
and Cost of Capital
Assets
Cash
Other Assets
0
500
x
Liabilities
$50.00 million
$67.25 million
$38.50 million
$10.25 million
$75.50 million
Debt
200
Equity 300
Omicron Industries New Project Free Cash Flows (Millions)
0
3
40
Year
Free Cash Flows (100)
The debt capacity for Omicron's new project in year O is closest to:
2
50
Cost of Capital
▷ Exibir comentários da pergunta 11
TC
60
Det 6%
Equity 12%
Chapter 3 Solutions
INTERMEDIATE ACCOUNTING (LL) W/CONNECT
Ch. 3 - Prob. 3.1QCh. 3 - Prob. 3.2QCh. 3 - Define current assets and list the typical asset...Ch. 3 - Prob. 3.4QCh. 3 - Prob. 3.5QCh. 3 - Prob. 3.6QCh. 3 - Describe the common characteristics of assets...Ch. 3 - Prob. 3.8QCh. 3 - Prob. 3.9QCh. 3 - Define the terms paid-in-capital and retained...
Ch. 3 - Disclosure notes are an integral part of the...Ch. 3 - A summary of the companys significant accounting...Ch. 3 - Define a subsequent event.Ch. 3 - Prob. 3.14QCh. 3 - Prob. 3.15QCh. 3 - Prob. 3.16QCh. 3 - Prob. 3.17QCh. 3 - Show the calculation of the following solvency...Ch. 3 - Prob. 3.19QCh. 3 - Prob. 3.20QCh. 3 - (Based on Appendix 3) Segment reporting...Ch. 3 - Prob. 3.22QCh. 3 - Prob. 3.23QCh. 3 - Current versus long-term classification LO32,...Ch. 3 - Balance sheet classification LO32, LO33 The trial...Ch. 3 - Prob. 3.3BECh. 3 - Balance sheet classification LO32, LO33 Refer to...Ch. 3 - Balance sheet classification LO32, LO33 The...Ch. 3 - Balance sheet classification LO32, LO33 You have...Ch. 3 - Balance sheet preparation; missing elements LO32,...Ch. 3 - Financial statement disclosures LO34 For each of...Ch. 3 - Calculating ratios LO38 Refer to the trial...Ch. 3 - Prob. 3.10BECh. 3 - Calculating ratios; solving for unknowns LO38 The...Ch. 3 - Balance sheet; missing elements LO32, LO33, LO38...Ch. 3 - Balance sheet classification LO32, LO33 The...Ch. 3 - Balance sheet classification LO32, LO33 The...Ch. 3 - Balance sheet preparation LO32, LO33 The...Ch. 3 - Balance sheet preparation LO32, LO33 The...Ch. 3 - Balance sheet; Current versus long-term...Ch. 3 - Prob. 3.7ECh. 3 - Prob. 3.8ECh. 3 - Balance sheet preparation LO32, LO33 The...Ch. 3 - Financial statement disclosures LO34 The...Ch. 3 - Prob. 3.11ECh. 3 - Prob. 3.12ECh. 3 - Prob. 3.13ECh. 3 - FASB codification research LO32, LO34 Access the...Ch. 3 - Prob. 3.15ECh. 3 - Prob. 3.16ECh. 3 - Prob. 3.17ECh. 3 - Calculating ratios; solve for unknowns LO38 The...Ch. 3 - Prob. 3.19ECh. 3 - Effect of management decisions on ratios LO38...Ch. 3 - Prob. 3.21ECh. 3 - Prob. 3.22ECh. 3 - Balance sheet preparation LO32, LO33 Presented...Ch. 3 - Balance sheet preparation; missing elements LO32,...Ch. 3 - Balance sheet preparation LO32, LO33 The...Ch. 3 - Balance sheet preparation LO32, LO33 The...Ch. 3 - Balance sheet preparation LO32, LO33 The...Ch. 3 - Prob. 3.6PCh. 3 - Balance sheet preparation; errors LO32, LO33 The...Ch. 3 - Balance sheet; errors; missing amounts LO32, LO33...Ch. 3 - Balance sheet preparation LO32 , LO33 Presented...Ch. 3 - Prob. 3.10PCh. 3 - Communication Case 31 Current versus long-term...Ch. 3 - Analysis Case 32 Current versus long- term...Ch. 3 - Prob. 3.4BYPCh. 3 - Judgment Case 35 Balance sheet; errors LO32...Ch. 3 - Prob. 3.6BYPCh. 3 - Real World Case 37 Balance sheet and significant...Ch. 3 - Judgment Case 38 Post fiscal year-end e vents ...Ch. 3 - Prob. 3.9BYPCh. 3 - Prob. 3.10BYPCh. 3 - Prob. 3.11BYPCh. 3 - Analysis Case 314 Balance sheet information LO32...Ch. 3 - Prob. 3.15BYPCh. 3 - Ethics Case 316 Segment reporting Appendix 3 You...Ch. 3 - Prob. 1CCTC
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- Use the following table: Case X Case Y Case Z Cash $ 940 $ 1,470 $ 1,940 Short-term investments 0 0 780 Receivables 0 1,690 1,360 Inventory 3,400 1,560 6,520 Prepaid expenses 2,600 1,020 1,460 Total current assets $ 6,940 $ 5,740 $ 12,060 Current liabilities $ 3,600 $ 1,800 $ 5,750 Required:Calculate the quick ratio in each of the above cases and select the case which is in the best position to meet short-term obligations most easily. (Round your answers to 2 decimal places.)arrow_forwardAbhaliyaarrow_forwardData Review View Acrob Page Layout P19 F G D A Using the information provided in the following table, find the value of each asset. Cash Flow End of Amount Asset Year (Php) Appropriate Required Return (%) A 250,000 18 250,000 250,000 15,000 15 0 16 0 0 1,750,000 75,000 12 425,000 100,000 14 150,000 250,000 350,000 200,000 50.000 File dy B C F Home O 1 through 1 2 3 14 5 1 through 5 6 E 1 2 3 4 5 6 Solution and Answer: 123 Insert Shot on OnePlus Powered by Triple Camera Num Ette Formulasarrow_forward
- Asaparrow_forward24 range the following items in proper balance sheet presentation: (Be sure to list the assets in order of their liquidity. Input all swers as positive values.) Accumulated amortization Retained earnings Cash Bonds payable Accounts receivable Plant and equipment-original cost Accounts payable Allowance for bad debts Common stock, 100,000 shares outstanding Inventory Preferred stock, 1,000 shares outstanding Marketable securities Investments Notes payable $230,000 195,300 12,000 136,000 51,500 700,000 42,000 5,200 172,000 73,000 60,000 20,000 22,000 38,000 Help Save & Exit Submitarrow_forwardParticulars 31st Mar' 19 Amt (Rs) 31st Mar' 20 Amt (Rs) Land and Building 3600000 3600000 Cash 400000 320,000 Sundry Debtors 640000 800,000 Temporary Investments 400000 640,000 Stock 3680000 4320000 Prepaid Expenses 560000 24000 Plant and Machinery 1920000 3096000 Total Assets 11200000 12800000 Current Liabilities 1280000 1600000 Loans 3200000 3200000 Capital 4000000 4000000 Retained Earnings 936000 1624000 Statement of Profit for the Current Year 1st Apr to 31st Mar' 20 : Amt (Rs) Sales 8000000 Less: Cost of Goods Sold -5600000 Less: Interest -320000 Net Profit 2080000 Less: Taxes @ 50% -1040000 Profit after Tax 1040000 Profit Distributed 440000 Calculate Gross Profit Ratio Return on Equityarrow_forward
- Particulars 31st Mar' 19 Amt (Rs) 31st Mar' 20 Amt (Rs) Land and Building 3600000 3600000 Cash 400000 320,000 Sundry Debtors 640000 800,000 Temporary Investments 400000 640,000 Stock 3680000 4320000 Prepaid Expenses 560000 24000 Plant and Machinery 1920000 3096000 Total Assets 11200000 12800000 Current Liabilities 1280000 1600000 Loans 3200000 3200000 Capital 4000000 4000000 Retained Earnings 936000 1624000 Statement of Profit for the Current Year 1st Apr to 31st Mar' 20 : Amt (Rs) Sales 8000000 Less: Cost of Goods Sold -5600000 Less: Interest -320000 Net Profit 2080000 Less: Taxes @ 50% -1040000 Profit after Tax 1040000 Profit Distributed 440000 Calculate Current Ratio Debtors Turnover Ratio Stock Turnover Ratio Return on Total Assetsarrow_forwardpm1arrow_forwardWhat is correct optionarrow_forward
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