Financial data for Joel de Paris, Inc., for last year follow:Joel de Paris, Inc.Balance SheetAssetsCashAccounts receivableInventoryPlant and equipment, netInvestment in Buisson, S.A.Land (undeveloped)Total assetsLiabilities and Stockholders' EquityAccounts payableLong-term debtStockholders' equityTotal liabilities and stockholders' equityJoel de Paris, Inc.Income StatementSalesOperating expensesNet operating incomeInterest and taxes:Interest expenseTax expenseNet income.$116,000204,000$4,462,0003,792,700669,300$320,000349,300BeginningBalance133,000 $333,000580,000874,000407,000249,000$ 2,576,000EndingBalance128,000470,000488,000874,000430,000254,000$ 2,644,000$ 373,000 $ 344,0001,017,0001,017,0001,186,0001,283,000$ 2,576,000 $ 2,644,000 Financial data for Joel de Paris, Inc., for last year follow:Joel de Paris, Inc.Balance SheetAssetsCashAccounts receivableInventoryPlant and equipment, netInvestment in Buisson, S.A.Land (undeveloped)Total assetsLiabilities and Stockholders' EquityAccounts payableLong-term debtStockholders' equityTotal liabilities and stockholders' equityJoel de Paris, Inc.Income StatementSalesOperating expensesNet operating incomeInterest and taxes:Interest expenseTax expenseNet income.$116,000204,000$4,462,0003,792,700669,300$320,000349,300BeginningBalance133,000 $333,000580,000874,000407,000249,000$ 2,576,000EndingBalance128,000470,000488,000874,000430,000254,000$ 2,644,000$ 373,000 $ 344,0001,017,0001,017,0001,186,0001,283,000$ 2,576,000 $ 2,644,000

Lets understand the basics.Financial ratios also referred to as accounting ratios are the ratios…

ssets ash ccounts receivable nventory ant and equipment, net Joel de Paris, Inc. Balance Sheet nvestment in Buisson, S.A. and (undeveloped) otal assets Habilities and Stockholders' Equity ccounts payable ong-term debt tockholders' equity otal liabilities and stockholders' equity Beginning Balance $ 133,000 $ 128,000 333,000 470,000 580,000 874,000 407,000 249,000 $ 2,576,000 Ending Balance. $ 373,000 1,017,000 1,186,000 $ 2,576,000 488,000 874,000 430,000 254,000 $ 2,644,000 $ 344,000 1,017,000. 1,283,000 $ 2,644,000

ssets ash ccounts receivable nventory ant and equipment, net Joel de Paris, Inc. Balance Sheet nvestment in Buisson, S.A. and (undeveloped) otal assets Habilities and Stockholders' Equity ccounts payable ong-term debt tockholders' equity otal liabilities and stockholders' equity Beginning Balance $ 133,000 $ 128,000 333,000 470,000 580,000 874,000 407,000 249,000 $ 2,576,000 Ending Balance. $ 373,000 1,017,000 1,186,000 $ 2,576,000 488,000 874,000 430,000 254,000 $ 2,644,000 $ 344,000 1,017,000. 1,283,000 $ 2,644,000

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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Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 150,000 110,000 Beginning Balance $ 140,000 450,000 $ 120,000 530,000 320,000 380,000 680,000 620,000 280,000 250,000 180,000 170,000 $ 2,020,000 $ 2,100,000 $ 360,000 1,500,000 160,000 $ 2,020,000 $ 4,050,000 3,645,000 405,000 260,000 $ 145,000 Ending Balance $ 310,000 1,500,000 290,000 $ 2,100,000 The company paid dividends of $15,000 last year. The “Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The…
Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 113,000 192,000 $ 4,268,000 3,627,800 640, 200 305,000 $ 335,200 Beginning Balance $ 140,000 340,000 580,000 860,000 397,000 255,000 $ 2,572,000 Ending Balance $ 140,000 474,000 474,000 872,000 435,000 245,000 $ 2,640,000 $ 346,000 $ 372,000 990,000 1,210,000 990,000 1,304,000 $ 2,572,000 $ 2,640,000 The company paid dividends of $241,200 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The…
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Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 115,000 191,000 1. Average operating assets 2. Margin 2. Turnover 2. ROI 3. Residual income Beginning Balance $ 125,000 347,000 579,000 799,000 407,000 251,000 $ 2,508,000 $ 5,049,000 4,291,650 757,350 $385,000 967,000 1,156,000 $ 2,508,000 306,000 $ 451,350 % % Ending Balance $ 137,000 484,000 489,000 780,000 The company paid dividends of $347,350 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company.…
Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income. Interest and taxes: Interest expense Tax expense Net income $ 114,000 205,000 1. Average operating assets 2. Margin 2. Turnover 2. ROI 3. Residual income Beginning Balance $ 128,000 330,000 564,000 868,000 398,000 250,000 $ 2,538,000 $ 383,000 1,024,000 1,131,000 $ 2,538,000 $ 5,348,000 4,438,840 909,160 % 319,000 $ 590,160 Ending Balance $ 128,000 478,000 478,000 846,000 429,000 245,000 $ 2,604,000 The company paid dividends of $481,160 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in…