7. Assets Php 120,000, Liabilities = ?, Owner's equity = Php 55,000 8. Assets, Liabilities= Php 65,000, Owner's equity = Php 150,000 9. Assets Php 175,000, Liabilities= Php 35,000, Owner's equity = ? 10. Assets ?, Liabilities + Owner's equity = Php 1,155,980
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- Refer to the 10-K for Abercrombie & Fitch. Required: 1. What does the company report for the following accounts for the most current fiscal year: Enter your answer in thousands. a. Cash b. Short-term investments (or marketable securities) c. Accounts receivable d. Inventory e. Other current assets f. Accounts payable g. Other current liabilities h. Cash flow from operations A A AA A A 好 2. The company projects the following to occur in the next fiscal year: • Accounts payable will decrease by 25%. • Other current liabilities are expected to increase by 33%. • Cash flow from operations is expected to decrease by 32%. Assume all other items remain unchanged from the prior year. Provide the next year's forecasted balances for the following accounts and cash flow from operations.DESCRIPTION: Bookkeeping and Accounting for Non-Accountant 1,000,000 +(-300,000) = 700,000. Now you can use the basic accounting equation to calculate total liabilities at the end of the year: ACTIVITY: 850,000 liabilities + 700,000 850,000-700,000 = 150,000 liabilities = 150,000 4. Assets = ?, Liabilities = Php 10,000, Owner's equity = Php 15,000 5. Assets = Php 60,000, Liabilities = ?, Owner's equity = Php 40,000 6. Assets ?, Liabilities + Owner's equity = Php 150,000 7. Assets = Php 120,000, Liabilities = ?, Owner's equity = Php 55,000 8. Assets = ?, Liabilities = Php 65,000, Owner's equity = Php 150,000 9. Assets = Php 175,000, Liabilities = Php 35,000, Owner's equity = ? 10. Assets = ?, Liabilities + Owner's equity = Php 1,155,980Imagine you are the financial accountant of Happiness Ltd. You have the following final balances for the different accounts on 31st December 2021 (the accounting-year end): Value (£) Buildings 300,000 Transportation element 148,000 Accumulated depreciation (buildings) at 01/01/2021 52,500 Accumulated depreciation (transportation element) at 01/01/2021 36,800 Salary expense 16,500 Share premium 7,200 Capital 20,000 Retained earnings at 31/12/2020 97,900 Long term debt 190,300 Cash 60,000 Trade receivables 62,500 Inventory at 31/12/2020 40,000 Purchases 10,000 Sales 200,000 Allowance for trade receivables 2,500 Accrued Expenses 19,500 Trade payables 10,300 Required: a)Prepare the Trial Balance corresponding to the above information. b)Considering the following additional information, prepare the Income Statement for Happiness Ltd. on 31/12/2021. Additional…
- Gulf Cement, Inc. reports the following assets and liabilities, Compute the totals that would appear in the corporation's basic accounting equation (Assets = Liabilities + Stockholders' Equity (Capital Stock)). Cash...Asset.. OMR 37,000 Assets e Yi abilities + Equity- Accounts Payable....liabi libies OMR 15,000 30 800 Supplies....A seps. OMR 1, 800 Loan Payable. ibiliies OMR 9,000 Inventory....AScts. OMR 12,000If you have the following account balances, how much are your current assets? Cash $5,921; Building $100,000; Accounts Payable $10,723; Accounts Receivable $25,783; Common Stock $200,000The bookkeeper for Geronimo Company has prepared the following balance sheet at 31/12/2007 Balance sheet for (Geronimo Company) at 31/12/2007 liabilities and owner equity Assets ID ID Current assets: Short-term liabilities: Bills payable 40625 Account payable (A/P) 28000 Long-Term Liabilities: bonds payable 82350 Long-term notes payable. Owners' Equity: Cash 22000 22000 Account receivable(A/R) Ending inventory Fixed assets: 35000 Machinery and equipment Intangible assets: Patents 40000 54900 Capital 155500 Total Total 274500 If you know Current assets 50% from total assets, fixed assets 30% from total assets, Intangible assets 20% from total assets, Cash 50% from Current assets R/ Complete the balance sheet
- signment #7 (Chapter 3) Due 7 April 2024 Saved Help $550,000; You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $340,000; accounts receivable = $1,300,000; inventory = $2,200,000; accrued wages and taxes = accounts payable $850,000; and notes payable = $700,000. = Calculate SophieLex's current ratio, quick ratio, and cash ratio. Note: Round your answers to 2 decimal places. Current ratio Quick ratio Cash ratio times times times WGiven the ledger accounts of Barella Company as of January 31, 2020: Accounts Payable $3,000 Rent Expense $5,600 Accounts Receivable 4,400 Service Revenue 10,400 Cash 8,800 Supplies 2,200 Share Capital-Ordinary 5,200 Notes Payable 2,400 Compute the total of the credit side of the trial balance. (show your computation). A. 22,000 B. 28,000 C. 26,000 O D. 21,000DESCRIPTION: Bookkeeping and Accounting for Non-Accountant 1,000,000+(-300,000) = 700,000. Now you can use the basic accounting equation to calculate total liabilities at the end of the year: ACTIVITY: 850,000 = liabilities + 700,000 850,000-700,000 = 150,000 liabilities = 150,000 1. A sole proprietorship business owes Php 12,000 and you, the owner personally invested Php 100,000 of your own cash into the business. The assets owned by the business will then be calculated as: 2. A business owes Php 35,000 and stockholders (investors) have invested Php 115,000 by buying stock in the company. The assets owned by the business will then be calculated as: 3. Assets = Php 50,000, Liabilities = Php 20,000, Owner's equity = ? 4. Assets = ?, Liabilities = Php 10,000, Owner's equity = Php 15,000 5. Assets = Php 60,000, Liabilities = ?, Owner's equity = Php 40,000 6. Assets = ?, Liabilities + Owner's equity = Php 150,000 7. Assets = Php 120,000, Liabilities = ?, Owner's equity = Php 55,000 8.…
- he following data were taken from Alvarado Company’s balance sheet: OBJ. 6 Dec. 31, 2019 Total liabilities $4,085,000 Total owner’s equity 4,300,000 Compute the ratio of liabilities to owner’s equity. Dec. 31, 2018 $2,880,000 3,600,000 a. b. Has the creditor’s risk increased or decreased from December 31, 2018, to December 31, 2019?The following data were taken from Mesa Company's balance sheet: Dec. 31, 2019 Dec. 31,2018 $518,000 Total liabilities $547,800 Total owner's equity 415,000 370,000 a. Compute the ratio of liabilities to owner's equity b. Has the creditor's risk increased or decreased from December 31, 2018, to December 31, 2019?Following are the current asset and current liability sections of the balance sheets for Freedom Incorporated at January 31, 2023 and 2022 (in millions): Current Assets Cash Accounts receivable Inventories Total current assets Current Liabilities Note payable Accounts payable Other accrued liabilities Total current liabilities Req A January 31, 2023 $12 8 7 $ 27 Req B and C Working capital Current ratio 4 3 $ 11 January 31, 2022 Required: a. Calculate the working capital and current ratio at each balance sheet date. b. Evaluate the firm's liquidity at each balance sheet date. c. Assume that the firm operated at a loss during the year ended January 31, 2023. How could cash have increased during the year? $ 9 11 11 $ 31 Complete this question by entering your answers in the tabs below. 1 3 01/31/2023 01/31/2022 $8 Calculate the working capital and current ratio at each balance sheet date. Note: Enter "Working capital" in millions of dollars (i.e., 10,000,000 should be entered as 10).…