Consider each of the following independent situations:Required:For each situation, calculate the missing amount.BeginningRetainedNet Income for Dividends forEndingRetainedthe Yearthe YearEarningsEarningsa. $396,000$142,000 $28,000b.$574,000 $205,000$716,000C.d.$EA265,000$50,000 $333,000$158,000 $38,000 $454,000

The above answer can be explained as under - The equation which is used here is - Ending retained…

Answered: Consider each of the following…

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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ok D Int = Print Compute the annual dollar changes and percent changes for each of the following accounts. (Decreases should be indicated with a minus sign. Round percent change to one decimal place.) 0 ferences # Short-term investments Accounts receivable Notes payable Percent Change = Short-term investments Accounts receivable Notes payable Type here to search Esc fo F1 1 X F2 $ Current Year $ 378,252 100,583 @ 2 0 Horizontal Analysis - Calculation of Percent Change Numerator: 1 Current Year F3 20 #m Prior Year $ 236,897 104,503 91,702 3 378,252 $ 100,583 F4 0 S4 Prior Year $ 236,897 104,503 91,702 F5 $ % 5 Denominator: Dollar Change F6 111,355 (3,920) (91,702) DELL F7 A Percent Change 29.4 % (26.7) % (100.0) % 6 F8 & 7 0 F9 * a 8 F10 9
How much is the dividend revenue recognized by Habagat? A. P0 B. P4,000 C. P10,000 D. P42,000
Takaful company has the following information: Earned contributions SR 500 Net claim incurred SR 100 Cash SR 50 Short-term investment SR 150 Average assets SR 1500 Total expenses SR 200 Net income SR 100 Gross contributions SR 600 Net contributions SR 550 What is expense ratio? а. 40% b. 30% С. 36.3% d. 50%
Hancock Company reported the following account balancesat December 31, 2027:Sales revenue $97,000Dividends. $11,000Supplies 13,000Accounts payable 41,000Patent $59,000Building Common stock.. $27,000Insurance expense .... $31,000Notes payable .. $39,000Income tax expense $42,000Cash . . $19,000Repair expense ?Copyright $20,000Equipment $14,000Utilities payable. $22,000Inventory $64,000Retained earnings. .. $87,000 (at Jan. 1, 2027)Interest revenue $55,000Cost of goods sold ..... .. $37,000Accumulated depreciation .... $23,000 $34,000Accounts receivable ? Trademark. ... $51,000Calculate the total intangible assets reported in HancockCompany's December 31, 2027 balance sheet. The following additional information is available:1) The note payable listed above was a 4- year bank loan taken out on September 1, 2024.2) The total P - P - E at Dec. 31, 2027 was equal to 75% of the total current liabilities at Dec. 31, 2027. ՄԴ S
# 3 Category. Prior Year Current Year Accounts payable 3,136.00 5,904.00 Accounts receivable 6,838.00 9,068.00 Accruals 5,663.00 6,026.00 Additional paid in capital 20,182.00 13,570.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,844.00 18,591.00 Current portion long-term debt 500 500 Depreciation expense 955.00 1,036.00 Interest expense 1,275.00 1,169.00 Inventories 3,020.00 6,732.00 Long-term debt 16,947.00 22,144.00 Net fixed assets 75,056.00 74,173.00 Notes payable 4,022.00 6,569.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,957.00 34,753.00 Sales 46,360 45,431.00 Таxes 350 920 What is the firm's total change in cash from the prior year to the current year? Submit Answer format: Number: Round to: 0 decimal places.
Liquid Company has the following information available at year end 2018: Cash Notes payable (current) P40,000 Common stock P140,000 P500,000 Gross income Plant and Equipment, net Total assets P60,000 P252,000 P480,000 Additional data: Current ratio 1.9:1.0 Debt-to-equity Inventory turnover based on (Sales divide by ending inventory) Inventory turnover based on (Cost of sales divide by ending inventory) 1.4:1.0 15 times 10 times
#1 O Category. Prior Year Current Year Accounts payable 3,134.00 5,904.00 Accounts receivable 6,978.00 8,907.00 Accruals 5,624.00 6,194.00 Additional paid in capital 20,362.00 13,212.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,484.00 18,100.00 Current portion long-term debt 500 500 Depreciation expense 1,003.00 1,011.00 Interest expense 1,257.00 1,156.00 Inventories 3,097.00 6,657.00 Long-term debt 16,532.00 22,027.00 Net fixed assets 75,252.00 74,022.00 Notes payable 4,045.00 6,536.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,789.00 34,684.00 Sales 46,360 45,408.00 Тахes 350 920 What is the firm's cash flow from financing? Submit Answer format: Number: Round to: 0 decimal places.
The following information relates to Basic Lid. for the year ended 31" December 2021: Net working capital RO. 1.200.000 Fixed assets to proprietor's fund ratio 0.75 Working capital turnover ratio 5 timeg Return on Equity 15% Current liabilities RO. 400.000 Long term Debts 0 You are required to calculate: Proprietor's funds Fixed Assets Current assets Net profit ratio Current ratio
Assume the following information is given:Income statementNet sales sh. 200,000Operating income 10,000 Balance sheetCurrent assets 95,000Total assets 150,000 Current liabilities 80,000Total liabilities 125,000Retained earnings 25,000 The market value of equity is sh. 300,000Required:Evaluate the credit worthiness of the borrower using Altman Z
*see attached What is the net rent income for the current year? *a. 275,000b. 290,000c. 350,000d. 365,000
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.)
Use the following information for the next three questions:The ledger of COLTISH UNDISCIPLINED Co. in 20x1 includes the following:Jan. 1, 20x1 Dec. 31, 20x1Current assets 1,200,000 ?Noncurrent assets 4,000,000 ?Current liabilities 900,000 1,000,000Noncurrent liabilities ? 3,000,000 Additional information:- COLTISH’s working capital as of December 31, 20x1 is twice as much as the working capital as of January 1, 20x1.- Total equity as of January 1, 20x1 is ₱1,700,000. Profit for the year is ₱2,400,000 while dividends declared amounted to ₱1,000,000. There were no other changes in equity during the year. How much is the total current assets as of December 31, 20x1?a. 1,600,000b. 800,000c. 300,000d. 2,200,000

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