3. Consider the abbreviated financial statements below for 2015 and 2016 Arch Enterprises 2015 & 2016 Balance Sheet 2015 2016 2015 2016 Current Liabilities $261 $293 Current Assets $653 $707 3,240 Long Term Debt 1.422 1.512 Net Fixed Assets 2,691 What is Owners Equity for 2015 & 2016?
Q: 53,600 equivalent units for direct materia 48,800 equivalent units for direct labor; _nd 42,000…
A: Given in the Question During October : cost of ; Direct materials = $158,688 Overhead = $85,200…
Q: On January 1, 2020, Rama Company had 20,000 treasury shares of P100 par value that had been…
A: Treasury stocks are repurchased shares of the company. The firm can reissue these stocks at a…
Q: Each share of preference is convertible into 1 ordinary share. In June, ABC converted 4,000 of…
A: The stockholders’ equity for ABC Company on December 31 was: Preference share, P20 par, 60,000…
Q: . The following historical pattern on its credit sales of Rainy Co. was presented: 70% collection…
A: CASH BUDGET: Cash budget gives an estimate of the anticipated receipts and payments of cash during…
Q: Use the following information to answer items #31-#34:Standard Company has developed standard…
A: Formula: Variable overhead efficiency variance = (Standard labor hours allowed for actual output -…
Q: Why is the statement of cash flows required as part of the set of external financial statements?…
A: (Note: Since you have posted multiple questions, we will solve the first question for you. For the…
Q: A trader has made a sale of R75,500 out of which cash sales amounted to R25,500. He showed trade…
A: Accrual basis of accounting states that the expenses and revenues are recorded when they are accrued…
Q: What amount shall Tom Company recognize in profit or loss for the year 2020 if it designated the…
A: Fair value through profit and loss is the method through which a business records its investments…
Q: GinnyCo has pretax book and taxable income of $400,000 and reports a s100,000 income tax payable in…
A: Tax provision refers to the reporting year aggregate income tax expenses and it involves the foreign…
Q: Heg Se & Ea Bue Cab Company had 67,000 shares of common stock outstanding on January 1, 2021. On…
A: Diluted earnings per share (EPS) is a metric used to analyze the quality of a company's EPS after…
Q: Hufflepuff Corporation (a C corporation) had current and accumulated E&LP of $500.000 as of December…
A: The answer is stated below:
Q: Brandon Marchand is the owner of I Fornonse to increased demand Bra
A: A classified balance sheet organizes assets and liabilities into important subgroups, while an…
Q: We discussed contingent liabilities in class. Describe the conditions for when a contingent…
A: A liability whose occurrence depends upon the happening or non happening of future uncertain events…
Q: On January 1, 2021, Beauty Company sold a machine with a cost of P500,000 and accumulated…
A:
Q: rms 1/10, n/30, FOB destination. The items arrived at Beetle's warehouse or the purchase on May 7.…
A: Free on board" refers to who is responsible for things that are damaged or destroyed during…
Q: 2. How many regular hours will someone need to work to earn $250 at $12.50/h?
A: Hi student Since there are multiple questions, we will answer only first question.
Q: Raymond Company and Geeslin Company both use a periodic inventory system. The following transactions…
A: 2/10 net 30 means 2% discount will be there if payment is made with in 10 days and no discount after…
Q: ayment made by the lessee to the lessor? A. None of the above B. If the advance payment representing…
A: A lessee is someone who rents property or land from a lessor. The lessee, sometimes known as the…
Q: Markie is employed by Holy Cross as an ambulance driver with a salary of Php. 20,000 a month. In…
A: Income is defined differently depending on the situation, such as for taxation or analysis.…
Q: If sales equal $320,960, variable expenses equal $200,000, and the degree of operating leverage is…
A: Solution.. Sales revenue = $320,960 Variable cost = $200,000 Contribution margin = Sales -…
Q: In preparation for developing its statement of cash flows for the year ended December 31, 2018,…
A: Introduction: The net amount of cash received and disbursed by a company during a certain time…
Q: 1-Please construct a profit and loss statement for " Comfortable Shoes Store" for the year 2020 with…
A: The compny is having net loss of $1500. The profit & loss statement is given below
Q: 3) The following payroll information relates to Jones Company. Fica Rate 6.2% on the first $117,000…
A: Introduction After payroll register is prepared, entry for totals of each payroll period is made to…
Q: (for this question you do not need to show your work) A local partnership was in the process of…
A: Here discuss about the details of cash received for the partners in the partnership which has…
Q: On January 1, 2021, Gee Company sold a machine with a cost of P500,000 and accumulated depreciation…
A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…
Q: ve mentio
A: The journal entries are given as,
Q: A complex trust has taxable income of $29,900 in the current year. The $29,900 includes $5,000 of…
A: Tax liability: It is the amount of tax debt owed by an individual, company, or other entity to a tax…
Q: Describe the benefits and drawbacks of using online learning opportunities
A: The online learning opportunities in the recent years and during the time of pendemic evolve in a…
Q: Chart of Accounts of A Service Business ASSETS LIABILITIES Current Assets 101 Current Liabilities…
A: INTRODUCTION: In every business organization various accounting terms are used. It becomes necessary…
Q: IAS 21 provides that exchange differences/(gain/loss) arising on the settlement or remeasuring…
A: Introduction:- IAS 21 with as follows under:- Account for foreign currency transactions. When the…
Q: the beasts, Trough Brewery bought a bottler two years ago for $220,000, with a useful life of six…
A: Depreciation Calculation Old Machine Depreciation Schedule Year Depreciation Base Remaining…
Q: 99) Hesterman Corporation makes one product and has provided the following help prepare the master…
A: Calculation of Number of units of Finished Goods to be produced during May May Units…
Q: d. Cash Receipts…
A: Jan Feb Mar Total Sales Value 90,000 1,10,000 1,20,000 Sale in…
Q: Explain the role and limitations of budgeting in business organizations. Support your answer with…
A: The answer is stated below:
Q: make financial statement and worksheet For the past several years, M. Adam has operated a part-time…
A: The financial statement reflects the financial performance and position of the business entity with…
Q: Problem no. 2 Ray Corp. declared a 5% stock dividend on its 10,000 issued and outstanding shares of…
A: 5% stock dividend on 10000 shares @P2 par value = 5% x 20000 = P1000
Q: ordinary shares of Apple Corp., which represent a 25% investment in the net assets of Apple. IBM has…
A: Investments is one of the important assets of the business. This can be investment in shares or…
Q: Aboagye Mensah started business on January 1, 2009 with a capital of GHE16.000. The folowing…
A: The trial balance is prepared from the T-accounts of the business and further financial statements…
Q: Toothpaste is a necessary, frequently purchased consunmer product. In an average week a retailer…
A: Gross Margin is a financial measure that measures the financial health and working of an…
Q: P7,000,000 3,000,000 4,335,000 650,000 Preference share capital, P300 par Share premium - preference…
A: Contributed Capital is the total amount contributed by the owners and also includes shares premium.…
Q: Rojo Inc.’s production (during October 2010) was: • 53,600 equivalent units for direct material; •…
A: The equivalent units are calculated on the basis of percentage of the work completed during the…
Q: Milton Company reported inventory of $60,000 at the beginning of 2014. During the year, it purchased…
A: Cost of Goods Sold: The term "cost of goods sold" (COGS) refers to the direct expenses that are…
Q: Cost Retail Inventory, Jan 1 Purchases Freight-in Purchase Discounts 8,700 55,300 2,000 14,000…
A: Net Markups =[Mark-up]-[Mark-up Cancellation] =6,000-2,000…
Q: (1) Make the necessary customization journal! (2) Make the necessary return journal!
A:
Q: Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Johnstone…
A: A cost sheet is a method of classifying the total costs into different categories. It helps to…
Q: FANTASY FOOTBALL Balance Sheets December 31 Year Increase (Decrease) 2021 2020 Amount Assets Current…
A: The horizontal analysis is prepared to compare the financial results of the two periods as increase…
Q: Clampett, Incorporated, has been an S corporation since its inception. On July 15, 2021, Clampett,…
A: The answer is stated below:
Q: hat is the amount of working capital at the end of January? A service enterprise's working capital…
A: Working capital is the amount of current assets in excess of current liabilities. Formula: Working…
Q: 9. Company O has outstanding accounts receivables of $1,650,000 at year-end. During the year,…
A: Allowance for bad debts is made to estimate and write off the account receivable. It is made to…
Q: Record the journal entry to account for tuition and fee revenue
A: Journal Entries is the method to record transactions within the accounting records of the business.…
Step by step
Solved in 2 steps
- For years ended December 31 Equity Investee Financial Summary, $ millions 2018 2017 2016 Net sales... Gross margin Net income.. Cummins' share of net income. $7,352 $7,050 $5,654 1,373 1,422 1,182 647 680 499 $ 336 $ 308 $ 260 Royalty and interest income.. 58 49 41 Total equity, royalty and interest from investees... $ 394 $ 357 $ 301 Current assets $3,401 1,449 $3,416 1,379 Noncurrent assets Current liabilities.. Noncurrent liabilities.. Net assets... (2,669) (218) (2,567) (237) $1,963 $1,991 Cummins' share of net assets $1,144 $1,116 a. What assets and liabilities of unconsolidated affiliates are omitted from Cummins' balance sheet as a result of the equity method of accounting for those investments? b. Do the liabilities of the unconsolidated affiliates affect Cummins directly? Explain. c. How does the equity method impact Cummins' ROE and its RNOA components (net operating asset turnover and net operating profit margin)?Question 2 The following are financial statements of AR Sdn Bhd. AR Sdn Bhd Income Statement for the year ended 31/12/2015 RM RM RM Sales 18600 R/Inward (440) Net Sales 18160 COGS Opening stock Purchase 3776 11556 -R/Owards (355) 11201 +carriage inwards 234 11435 15211 -Closing stock COGS (4998) (10213) GROSS PROFIT 7947 Other income Interest Received 862 8809 (-) Expenses Carriage O/ward Motor expenses 326 664 Discount allowed 526 Rent 576 Sundry expenses Salaries & wages 1208 2447 (5747) 3062 Net Profit □ ㅇ |l>How do I determine the NNO for 2014? Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2014 Operating Assets 1,447,869 1,513,139 Operating liabilities 1,094,173 1,158,007 Net operating assets (NOA) 353,696 355,132 $ 397,299.00 NNO $ 490,548 $ 473,323 Equity $ 844,244 $ 828,455 $ 726,328.00 NOA= NNO + Equity $ 1,334,792 $ 1,301,778
- Data for llang-llang Trading Company are given below: 2014 2015 Current Assets Property, Plant, and Equipment Other Assets Total Assets 192,375 937,508 152,618 1,282,500 265,500 967,500 159,750 1,392,750 Liabilities Total Current Liabilities 220,590 491,198 225,450 460,250 Long term Debt Owner's Capital 570,713 706.950 ТOTAL 1,282,500 1,392,750 Requirements: a. Prepare a common-size Statement of Financial Position for 2014 and 2013 for llang-llang Trading Company. b. Prepare a horizontal analysis for llang-llang Trading Company.Suppose the 2022 Adidas financial statement contain the following selected data (in millions) current assets 4215 total assets 9000 current liabilities 4860 cash 755 interest expense 150 income tax 190 net income 275 a.working capital b.current ratio c.debt to assets ratio d.times interest earenedFIND ROE( RETURN ON EQUITY) USING THE FOLLOWING INFORMATION Years Revenue ($M) Net Income ($M) 2012 221.8 2.9 2013 473.8 20.2 2014 627.7 36.4 2015 947.8 45.0 2016 1,015.5 50.3 2017 1,046.2 64.9 2018 1,293.2 90.4 Exhibit 2 Years Total Assets ($M) Fixed Assets ($M) Current Assets ($M) Total Equity ($M) Retained Earnings ($M) 2012 430 286 144 293 12.8 2013 956 501 455 558 33.0 2014 922 668 324 620 69.4 2015 1103 796 307 665 114.4 2016 1120 835 285 729 164.7 2017 1294 738 556 805 229.6 2018 2053 703 1350 934 320…
- ABC Industry and Trade Inc. Balance Sheet as of 31.12.2020 (TL) transactions ASSETS(Assets) I-Current Assets Ready Values Securities Commercial debts Stocks Other Current Assets Current Assets Total I-Fixed Assets Financial Fixed Assets Tangible Fixed Assets Total Fixed Assets TOTAL ASSETS 31.12.2020 Amount Vertical Percent (%) 360.000 12 45.000 1.5 870.000 29 840.000 28 255.000 8.5 2.370.000 79 390.000 13 240.000 8. 630.000 21 3.000.000 100 LIABILITIES(RESOURCES) l-Short Term Liv. resources Financial Debts Trade payables Short Term Foreign Resource Total Il-Long-Term Liabilities Financial Debts Long Term Liv. Source Ball. III-Equity Paid-in capital Profit Reserves Net profit for the period Previous Year's profit Total Equity TOTAL LIABILITIES (RESOURCES) 39.000 1.3 120.000 4 159.000 5.3 81.000 2.7 81.000 2.7 120.000 4 420.000 14 1.950.000 65 270.000 9 2.760.000 92 3.000.000 100 Requested: Calculate the vertical percentages of the Balance Sheet items of ABC Sanayi ve Ticaret A.Ş. dated…15. Using the information above calculate the net income/ profit, total assets,total debt, total equity,current assets and current liabilities for the year 2016 and choose the correct belowRequired:a. Calculate the following ratios for Sweets plc for 2021 and 2020, showing the formulas and workings:4- Net profit margin5- Asset turnover6- Stock holding days7- Debtors collection period8- Current ratio9- Gearing ratio10- Interest cover
- GIVE THE COMPARATIVE BALANCE SHEET HORIZONTAL AND VERTICAL ANALYSIS FROM THE GIVEN BALANCE SHEET BELOW JOLLIBEE BALANCE SHEET ASSETS ITEM 2016 2017 2018 2019 2020 Cash & Short Term Investments 17.46B 22.52B 24.17B 23.02B 57.46B Cash & Short Term Investments Growth - 28.99% 7.32% -4.75% 149.59% Cash Only 16.73B 21.11B 23.29B 20.89B 21.36B Short-Term Investments 726M 1.41B 883.2M 2.13B 36.1B Cash & ST Investments / Total Assets 23.96% 25.08% 16.06% 12.28% 27.26% Total Accounts Receivable 3.59B 4.02B 4.86B 5.91B 7.05B Total Accounts Receivable Growth - 11.86% 21.04% 21.46% 19.36% Accounts Receivables, Net 3.03B 3.39B 4.41B 5.37B 5.8B Accounts Receivables, Gross 3.61B 4.08B 5.09B 5.76B 6.46B Bad Debt/Doubtful Accounts (579.79M) (690.12M) (676.91M) (392.36M) (658.63M) Other Receivable 562.75M 630.06M 451.73M…GIVE THE COMPARATIVE BALANCE SHEET VERTICAL ANALYSIS FROM THE GIVEN BALANCE SHEET BELOW JOLLIBEE BALANCE SHEET ASSETS ITEM 2016 2017 2018 2019 2020 Cash & Short Term Investments 17.46B 22.52B 24.17B 23.02B 57.46B Cash & Short Term Investments Growth - 28.99% 7.32% -4.75% 149.59% Cash Only 16.73B 21.11B 23.29B 20.89B 21.36B Short-Term Investments 726M 1.41B 883.2M 2.13B 36.1B Cash & ST Investments / Total Assets 23.96% 25.08% 16.06% 12.28% 27.26% Total Accounts Receivable 3.59B 4.02B 4.86B 5.91B 7.05B Total Accounts Receivable Growth - 11.86% 21.04% 21.46% 19.36% Accounts Receivables, Net 3.03B 3.39B 4.41B 5.37B 5.8B Accounts Receivables, Gross 3.61B 4.08B 5.09B 5.76B 6.46B Bad Debt/Doubtful Accounts (579.79M) (690.12M) (676.91M) (392.36M) (658.63M) Other Receivable 562.75M 630.06M 451.73M 536.62M 1.25B…Comparative balance sheets for Hamilton Company are presented below. Hamilton Company Comparative Balance Sheet Decemebr 31 Assets 2017 2016 Cash 78000 12000 Accoutns Receivable 93000 76000 Inventory 180000 189000 Land 75000 100000 Equipemnt 250000 210000 Accu Dep - Equipment (66,000) (42,000) Total 610000 545000 Liability and Equity Accounts Payable 34000 47000 Bonds Payable 150000 200000 Common Stock ($1 Par ) 214000 164000 Retained Earnings 212000 134000 Total 610000 545000 Additional information: 1. Net income for 2017 was $134000 2. Cash dividends of $65,000 were declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.…