and owners' equity of $84,000. We can conclude that Virginia Laboratories must have: Group of answer choices suffered a net loss of $151,000. total liabilities of $151,000. has total assets of $319,000. have experienced a cash inflow of $319,000.
Q: The owner’s capital of FDNACCT was P100,000 on October 1, 2020, the beginning of its fiscal year.…
A: Owner's Capital September 30, 2021 = Owner's Capital October 1, 2020 + Investment - Withdrawals +…
Q: Suppose Siam Traders has the following results related to cash flows for 2019: Net Income of…
A: Net cash flows = Cash flow from operating activities + cash flows from investment activities + cash…
Q: The following is the summarized statement of financial position Malover Ltd at 31 December 2019 and…
A: In financial accounting, a cash flow statement is a statement that shows the amount of cash and cash…
Q: Womack Corporation ended its fiscal year on September 30, 2021, with cash of $72 million, $21…
A: Balance sheet is the financial statement which is prepared to report all the assets, liabilities and…
Q: The following are ledger balances extracted from the books of Forte Enterprise at 31 December 2019.…
A:
Q: As at Dec. 31, 2020, the accounting records for Marcus Aurelius Outdoor Ad Concepts contained the…
A:
Q: 2019. It älšo Zen Corp in the business of wires and it has reported net income of RM225,000 reported…
A: The cash from operations means the cash provided by the operational activities of the company.…
Q: Jubilant Ind has reported net income of P176,600 for 2019. It also reported depreciation expense of…
A: Operating activities forms part of cash flow statements and it forms all the activities related with…
Q: As of December 31, 2019, the capital of Sweet & Spicy Company are equal to two-thirds of the total…
A: Total assets = Capital - liabilities Capital = total assets x 2/3
Q: As at Dec. 31, 2020, the accounting records for Marcus Aurelius Outdoor Ad Concepts contained the…
A: Interest payable in the financial statement is the interest expense that has accrued on the…
Q: The following balances were taken from the books of Pronghorn Limited on December 31, 2020:…
A: The question is based on the concept of Financial Accounting.
Q: The HEYBM CORPORATION presented the following in order to aid the accountant in preparing the CFS:…
A: 1. Statement of Cash Flow - Cash Flow is the statement prepared by the organization for the purpose…
Q: Maverick Ind was manufacturing bottles and it has reported net income of P425,000 for 2019. It also…
A: Cash flow statement forms part of financial statements. It was used to find the cash earned and…
Q: During 2021, Swifty Corporation earned net income of $262000 which included depreciation expense of…
A: The proportional change inside a company's cash position through one period to the next caused by…
Q: Pullman Corporation had retained earnings of €2,100,000 at January 1, 2019. During the year the…
A: Statement of retained earnings: The statement of retained earnings shows the change in the retained…
Q: How to solve these? The following expenses were recognized by CBA Co., a retailer, during 2020:…
A: General and administrative expenses: These are expenses which are incurred to operate the regular…
Q: Consider the following potential events that might have occurred to Global on December 30, 2019. For…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: The Beck Boat Co. equipment account increased by $20,000 and its accumulated depreciation account…
A: Purchase of equipment = Increase in equipment account + Cost of equipment sold = $20,000 + $42,000 =…
Q: obbin Corporation ended its fiscal year on September 30, 2018, with cash of $77 million, accounts…
A: Ending retained earnings: = Total stockholders equity - Common stock = $96 - $26 = $70 million
Q: The income and expense accounts of Rosie Corp. for the year ended 2019 are listed below. Sales…
A: Statement of owner's equity gives information about the changes in the owner's capital account.…
Q: Rotweiler Obedience School's December 31, 2018, balance sheet showed net fixed assets of $1,800,000,…
A: Capital expenditures are those expenses which are made for the purchase of capital assets or fixed…
Q: Tuscan Incorporated had a retained earnings balance of $86,000 at December 31, 2019. During the…
A: The statement of retained earnings is an essential financial statement prepared by the management.…
Q: During 2022, Marigold Corp. reported cash provided by operations of $619000, cash used in investing…
A: Free cash flow include the cash flow generated from its operations after deducting the expenditure…
Q: The net changes in the balance sheet accounts of Linda, Inc. for the year 2021 are shown below:…
A: Statement of cash flows of Linda, Inc. is as follows:
Q: In May 2020, Falcon Corporation sold to Eagle Company 5 computers which Eagle paid a total of…
A: The accounting equation is known as the equation that describes the transaction in accounting form.…
Q: The 2020 accounting records of Blocker Transport reveal these transactions and events. Payment of…
A: Statement of cash flows: To know the cash position of the firm for the particular period cash flow…
Q: As at Dec. 31, 2020, the accounting records for Marcus Aurelius Outdoor Ad Concepts contained the…
A: 1. Income Statement 2. Balance Sheet The first statement shows the income earned and loss incurred…
Q: Teejaan Inc, has the following accounts included in its December 31, 2019, trial balance: Accounts…
A: Current Assets means those assets in the business which can be converted into cash in short period…
Q: The HEYBM CORPORATION presented the following in order to aid the accountant in preparing the CFS…
A: Solution Concept There are two methods of preparing cash flow statement , direct and indirect method…
Q: On January 1, 2021 Phillip Enterprises showed total assets of P5,000,000 and total liabilities and…
A: Owner equity means the amount that belong to the owner of the business. Any profit will increase…
Q: During 2020, Reliable Corporation had cash and credit sales of $21,760 and $15,225, respectively.…
A: As per accrual basis of accounting, revenues and expenses are recognized when they are accrued…
Q: Rica Company was establish on January 1, 2019, with P5,000,000 from the owner and borrowed funds of…
A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…
Q: repare a statement of cash flows using the indirect method.
A:
Q: During 2019, Raines Umbrella Corp. had sales of $740,000. Cost of goods sold, administrative and…
A: EBIT = Sales - Cost of goods sold - Administrative expenses - Depreciation EBIT = $740,000 -…
Q: Wallace Driving School's 2020 balance sheet showed net fixed assets of $2.3 million, and the 2021…
A: Answer - Calculation of Net capital spending = Net fixed assets (2021) - Net fixed assets (2020)…
Q: On December 31, 2018, the company posted an eding capital of 30 million. the following yer, the…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Consider the following potential events that might have occurred to Global on December 30, 2019. For…
A: In this question, the activities that took place in company G will affect the balance sheet or not…
Q: Zuhoor Muscat Company reported the following transactions during the year 2020: collected RO 85,000…
A: Under cash basis of accounting, all revenues and expenses are recorded whenever cash is received or…
Q: Max, Inc. reported net income of $80,000 for the year ended December 31, 2021. Included in net…
A: Investing activities is an important section of cash flow statement which shows all cash inflows and…
Q: Compute balance of total assets as of July, 2017
A: As per our protocol we provide solution to the one question only but you have asked three multiple…
Q: As at Dec. 31, 2020, the accounting records for Marcus Aurelius Outdoor Ad Concepts contained the…
A: Note: Since you have posted a question with multiple sub-parts, we will solve first three subparts…
Q: S1-9 Brazos Medical, Inc., ended 2019 with cash of $24,000. During Brazos earned net income of…
A: Statement of Cash Flow show the inflow and outflow of cash during the year. In Statement of Cash…
Q: 2019 balance sheet showed net fixed assets of $3.7 million while the firm's 2018 balance sheet…
A: 2019 Net fixed Assets = $3.7 million 2018 Net fixed Assets = $3 million 2019 Depreciation = $…
Q: Muscat Company reported the following transactions during the year 2020: collected RO 45,000 cash…
A: Cash Basis of accounting - It is a basis of accounting in which transactions are recorded only when…
Q: Consider the following potential events that might have occurred to Global on December 30, 2019. For…
A: Effect of Transactions: Every business transaction has a two-fold impact on the aspects of…
Q: Kingbird Inc., had the following condensed balance sheet at the end of operations for 2019.…
A: The cash flow statement segregates the total cash flows into three activities to give a more clear…
Q: Rotweiler Obedience School's December 31, 2018, balance sheet showed net fixed assets of $1,730,000,…
A: Net capital spending is the amount of money invested in fixed assets during a particular period.…
Q: At the end of the year of 2019, Barney BarN Inc. has a total assets of P 8, 435,969 and total…
A: Accounting equation shows the relation between asset, liabilities and capital. It is based on…
Q: d. A large customer owing $2.8 million for products it already received declared bankruptcy, leaving…
A: A large customer owing $2.8 million for products it already received declared bankruptcy, leaving no…
On December 31, 2019, A&A Enterprises had assets of $235,000 and owners' equity of $84,000. We can conclude that Virginia Laboratories must have: Group of answer choices
suffered a net loss of $151,000.
total liabilities of $151,000.
has total assets of $319,000.
have experienced a
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital expenditures of $112,900, cash dividends of $35,800, and average maturities of long-term debt over the next 5 years of $122,300. What is Chasses free cash flow and cash flow adequacy ratio? a. $94,300 and 0.77, respectively c. $130,100 and 1.06, respectively b. $94,300 and 0.82, respectively d. $165,900 and 1.36, respectivelyPresented below is selected information pertaining to the Cassie Inc:Cash balance, January 1, 2020- P13,000Accounts receivable, January 1, 2020- P19,000Collections from customers in 2020- P210,000 Capital account balance, January 1, 2020- P38,000Total assets, January 1, 2020- P75,000Cash investment added, July 1, 2020-P5,000Total asset, December 31, 2020- P101,000 Cash balance, December 31, 2020- P20,000Accounts receivable, December 31, 2020- P36,000Merchandise taken for personal use during 2020- P11,000Total liabilities, December 31, 2020- P41,000How much is the net income for 2020?The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents $ 5,000Accounts receivable (net) 20,000Inventory 60,000Property, plant, and equipment (net) 120,000Accounts payable 44,000Salaries payable 15,000Paid-in capital 100,000 The only asset not listed is short-term investments. The only liabilities not listed are $30,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.5:1.Required:Determine the following…
- Jubilant Ind has reported net income of P176,600 for 2019. It also reported depreciation expense of P43,700 and a loss of P4,900 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of 11,600 for the year, a 13,600 Increase in accounts payable, and a 3,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020 by using indirect method.For 2019, Nirvana Industries disclosed cash revenue of $12.0 million and cash expenses of $6.0 million, depreciation on plant and equipment of $2.0million and an effective tax rate of 21%. For 2019, Nirvana Industries had capital expenditures of $1.0 million to purchase manufacturing equipment and invested $850,000 in net working capital. What were the net (total) cash flows for Nirvana Industries in 2019? Round your answer to the nearest hundredth of million $Berhad has the following financial statement as at 31 December 2019: Jiki Berhad Statement of Financial Position as at 31 December 2019 Assets (RM) Plant (Net) 4,000,000 Research and Development 16,000,000 Cash 5,400,000 Trade Receivable (Net) 5,400,000 Interest Receivable 800,000 Inventory 2,000,000 Total Assets 33,600,000 Liabilities and Shareholders’ Equity Trade Payable 5,920,000 Loan Payable 9,300,000 Provision for warranties 300,000 Deferred tax liability 4,200,000 Share Capital 10,380,000 Retained Earnings 3,500,000 Total Liabilities and Shareholders’ Equity 33,600,000 Additional Information: a) Tax laws allow only specific bad debts. The carrying amount in the trade receivable account is after the provision of 10% provision of doubtful debts. b) Interest receivable is recorded on accrued basis however is taxable only upon receipt. c) The carrying amount of the plant is after providing accumulated depreciation of RM 6 million. As at 31…
- Finance Schwert Corp. shows the following information on its 2019 income statement: sales = $246,000; costs = $135,000; other expenses = $7,100; depreciation expense = $19,100; interest expense = $10,000; taxes = $18,876; dividends = $9,800. In addition, you’re told that the firm issued $7,900 in new equity during 2019 and redeemed $6,800 in outstanding long-term debt. Net capital spending is X. There is no change in net working capital. What is X?According to the balance sheet of Free Inc, at the end of the 2020 fiscal year, the cash balance is $200,000, account available balance is $500,000, inventory balance is $750,000; the net fixed asset is $1,500,000. On the other side, the account payable is $250,000, the accrual $40,000, the notes payable is $300,000, long-term debt is $510,000, common stock is $1,200,000, retained earnings is $650,000. The net income is $500,000; the interest payment is $45,600; the tax rate is 25%. The weighted average after tax cost of capital is 9%. Please calculate the NOWC.According to the balance sheet of Free Inc, at the end of the 2020 fiscal year, the cash balance is $200,000, account available balance is $500,000, inventory balance is $750,000; the net fixed asset is $1,500,000. On the other side, the account payable is $250,000, the accrual $40,000, the notes payable is $300,000, long-term debt is $510,000, common stock is $1,200,000, retained earnings is $650,000. The net income is $900,000; the interest payment is $45,600; the tax rate is 25%. The weighted average after tax cost of capital is 9%. what is the EVA?
- According to the balance sheet of Free Inc, at the end of the 2020 fiscal year, the cash balance is $200,000, account available balance is $500,000, inventory balance is $750,000; the net fixed asset is $1,500,000. On the other side, the account payable is $250,000, the accrual $40,000, the notes payable is $300,000, long-term debt is $510,000, common stock is $1,200,000, retained earnings is $650,000. The net income is $900,000; the interest payment is $45,600; the tax rate is 25%. If the sales is $10,000,000, what is the operating margin?b. 13.26%c. 11.45%d. 10.66%According to the balance sheet of Free Inc, at the end of the 2020 fiscal year, the cash balance is $200,000, account available balance is $500,000, inventory balance is $750,000; the net fixed asset is $1,500,000. On the other side, the account payable is $250,000, the accrual $40,000, the notes payable is $300,000, long-term debt is $510,000, common stock is $1,200,000, retained earnings is $650,000. The net income is $900,000; the interest payment is $45,600; the tax rate is 25%. Find ROE.a. 49%b. 31%c. 34%d. 75%Rebecky's Flowers 4U, Incorporated, had free cash flows during 2024 of $54 million, NOPAT of $98 million, and depreciation of $22 million. Using this information, fill in the blanks on Rebecky's balance sheet below. Note: Enter your answers in millions of dollars. (i.e., Enter 10,000,000 as 10.) Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Assets Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets 2024 $ $ $ $ $ $ REBECKY'S FLOWERS 4U, INCORPORATED Balance Sheet as of December 31, 2024 and 2023 (in millions of dollars) 35 $ 94 143 272 $ 2023 540 $ 72 468 $ 90 558 $ 830 $ Liabilities and Equity Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total Long-term debt 490 Stockholders' equity 32 84 124 240 Preferred stock (5 million shares) Common stock and paid-in surplus (40 million shares) 50 440 90 Retained earnings 530 Total 770 Total…