a. Current ratio b. Equity ratio C. Debt ratio
Q: What is the formula used to calculate Owner's Equity on a balance sheet? Question 4 options:…
A: The fundamental Accounting equation is Asset = liabilities + equity Therefore Equity = Asset -…
Q: Give me an examples of t account for my accounting class. I need examples with asset, liability…
A: T accounts are the general ledger accounts that is being prepared by the business for posting of…
Q: Required: Complete the table using additions and subtractions to show the dollar effects of the…
A: Accounting Equation :— The accounting equation, also known as the basic accounting equation or…
Q: I understand th accounting equation is: Liabilities + Stock Holders’ Equity = Assets How do you…
A: Transaction: A transaction is a business event which has a monetary value that creates an impact on…
Q: For each of the following subsequent (post-balance sheet) events, indicate whether a company should…
A: Item Number Correct option 1 (a) Adjust the financial statements 2 (b) Disclose in…
Q: Explain the various steps in a multi step income statement. Solve this question with steps please.…
A: The multi-step income statement provides a clear picture of the company’s operations.
Q: What is the list in which all accounts to be used in accounting transactions are systematically and…
A: Accounting means the record and summary of all the business transaction and calculate the profit of…
Q: The two main sets of accounting standards followed by businesses are GAAP and IFRS. Briefly explain…
A: Balance Sheet: It is a financial statement prepared by an organization at the end of the trading…
Q: In financial accounting, is the journal is the ledger?
A: No, journal is different from ledger
Q: 3 - What is the list in which all accounts to be used in accounting transactions are systematically…
A: The process/system of recording the financial transaction relating to a business is called…
Q: I understand the accounting equation is: Liabilities + Stock Holders’ Equity = Assets How do you…
A: The basic Accounting Equation is Assets = Equity + LiabilitiesAssets are the resources owned by the…
Q: can you fill out the income statement and equity statement
A: Income Statement The purpose of preparing the income statement is to know the net income which are…
Q: For each of the accounting elements that follow (A-F), indicate in the space provided the…
A: Financial statements refers to the reports generated by the accounting system in respect of the…
Q: Which of the following statements about accounting information is (are) true? I. Accounting provides…
A: Accounting information is the record / structure / information of the receipt , payment , manage ,…
Q: Evaluate the statement “Accounting is all about numbers.”. Using the definition of accounting to…
A: Accounting is defined as the process of identifying, measuring, recording and communicating economic…
Q: or accounting what journals do you do if you have 2 revaluation increments in a row?
A: Revaluation seems to be a procedure in which the business recognizes a gain or loss based on the…
Q: Which of the following groups of accounts have a normal debit balance? a.stockholders' equity and…
A: Some items increase with a debit balance and decrease with a credit balance. Assets, losses,…
Q: Complete the following problem in Excel. Use a different tab for each financial statement. A.…
A: A financial statement refers to the set of statements that is prepared by the company on an annual…
Q: Complete this question by entering your answers in the tabs below. General Analyze Taccounts Joumal…
A: Effect of the transactions are given below:
Q: What is the fundamental accounting equation?
A: Hello, since the student has posted multiple requirements, only the first one is answerable. Thank…
Q: Problem 1 - Identify and Classify Accounts Required: Identify each account as either a…
A: Item Income Statement, Balance Sheet or Statement of Equity Asset, Liability, Equity, Revenue or…
Q: Provide an excel example showing the relationship between changes in the balance sheet, income…
A: balance sheet - balance sheet shows the statement of assets and liabilities of the company as on a…
Q: Omar Morena has recently completed his first year of studying accounting. His instructor for next…
A: As posted multiple sub parts questions we are answering only one question kindly repost the…
Q: relationship among the income statement,
A: The income statement format is , revenue , expenses , and profits ( or losses) of an entity over a…
Q: Match the accounting terms with the corresponding definitions. A (Click the icon to view the…
A: The first step in book keeping is to record transactions in journal. The journal entry are then…
Q: dentify and explain the 4 fundamental accounting concepts that guides the preparation and…
A: Financial statements:(FS) FS refers to presenting a company's true financial position based on the…
Q: The Basic Accounting Equation: (4 words) Fill in the blank assets, liabilities, stockholder's equity
A: An accounting equation is a mathematical representation of the financial transections. It indicates…
Q: Using the accounting equation in the picture, prepare a worksheet with trial balance, income…
A: Accounting equaton can be simply defined as entity assets is equal to its liability and equity.…
Q: Find the following using the data bellow a. Accounts receivable B. Current assets C. Total…
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
Q: . The accounting equation is often described as being very important in accounting. Explain the…
A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…
Q: rt the missing information into the accounting equation Signify increases as Incr. and decreases as…
A: Accounting Equation : Assets = Liabilities + Shareholder’s Equity Explanations: For every account,…
Q: Identify the missing information from the accounting equation. Signify increases as Incr. and…
A: Assets = Liabilities + Equity Debit Credit Assets Increase Decrease Liabilities…
Q: counts by completing the box below.
A: Given : Account Codes: Assets 100-199 Liabilities 200-299 Equity 300-399 Revenues…
Q: Select any 5 Q1 transactions of your choice and put them into the basic accounting equations. Find…
A: Five financial transactions are: 1) Mr. X commenced business with $50000 2) machinery purchased for…
Q: Here is question The purpose of this assignment is for you to demonstrate your ability to record…
A: a. Cash balance = $ 353 Equity = 2968. The equity is not same as cash as there are some reserve…
Q: Required: a. Show the effect of these transactions on the basic accounting equation. b. Prepare the…
A: Introduction:- Journal entry is the first stage of accounting process. Journal entry used to record…
Q: financial accounting please give me the answer of this question thanks
A: The question is related to determine the amount of cash balance by preparing Balance Sheet as on…
Q: 2. Notes to financial statements a. Must be quantifiable. b. Must qualify as an element.: c. Amplify…
A: 1. c) IFRS requires that all notes should be clear, simple to understand and non-technical in…
Q: This chapter introduced the accounting equation as a mathematical formula (e.g., Assets =…
A: The accounting equation states that the asset equal to sum of liabilities and shareholders equity.
Q: E2-10 Using accounting vocabulary Match the accounting terms with the corresponding definitions. a.…
A:
Q: Instructions: Classify each of the following account titles according to: (1) whether it belongs on…
A: Items of Balance sheet and income statement: The balance sheet summarises assets, liabilities, and…
Q: The Basic Accounting Equation An each of the examples below, find the missing value OWNER'S ASSETS…
A: Accounting equation is an equation which states that the total of assets is equal to the total of…
please help with questions a,b,c,d at the top and question e at the bottom asap for my accounting homework.
Step by step
Solved in 2 steps
- The following are the Financial Statements of Louise Company: Loulse Company Statement of Financial Position As of December 31, 2015, and 2016 2015 2016 ASSETS Current Assets Cash Accounts Receivables, net Merchandise Inventory Marketable Securities 198,000 30,000 15,000 20,000 10,000 273,000 270,000 40,000 10,000 20,000 8.000 348,000 Prepaid Expenses Total Current Assets Non-Current Assets Land Building, net Machinery, net Fumiture and Fixtures, net Long-term Investments Total Non-Current Assets 500,000 390,000 100,000 50,000 100,000 L140.000 500,000 380,000 90,000 45,000 80,000 1,095,000 TOTAL ASSETS 1413.000 1.443.000BALANCE SHEETCash $ 140.0 Accounts payable $ 800 .0Accts. receivable 880 .0 Notes payable 600.0Inventories 1,320.0 Accruals 400 .0Total current assets $2,340.0 Total current liabilities $1,800.0Long-term bonds 1,000.0Total debt $2,800.0Common stock 200 .0Retained earnings 1,000.0Net plant & equip. 1,660.0 Total common equity $1,200.0Total assets $4.000.0 Total liabilities & equity $4.000.0lNCOME STATEMENTNet sales $6,000.0Operating costs 5,599.8Depreciation 100.2EBIT $ 300.0Less: Interest 96 .0EBT $ 204 .0Less: Taxes 81.6Net income $ 122.4OTHER DATAAnnual Principal and Lease Payments 0.00Shares outstanding (millions) 60 .00Common dividends (millions) $42.8Interest rate on NIP and long-term bonds 6.0 %Federal plus state income tax rate 40%Year-end stock price $30 .60 Question 9 What is the firm's Debt Ratio? Group of answer choices 60.0% 65.0% 70.0% 75.0% Question 10 What is the firm's Inventory Turnover? 4.41 4.55 4.69 4.83 Question 11 What is the firm's DPS…Current Attempt in Progress XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g.…
- BALANCE SHEETCash $ 140.0 Accounts payable $ 800 .0Accts. receivable 880 .0 Notes payable 600.0Inventories 1,320.0 Accruals 400 .0Total current assets $2,340.0 Total current liabilities $1,800.0Long-term bonds 1,000.0Total debt $2,800.0Common stock 200 .0Retained earnings 1,000.0Net plant & equip. 1,660.0 Total common equity $1,200.0Total assets $4.000.0 Total liabilities & equity $4.000.0lNCOME STATEMENTNet sales $6,000.0Operating costs 5,599.8Depreciation 100.2EBIT $ 300.0Less: Interest 96 .0EBT $ 204 .0Less: Taxes 81.6Net income $ 122.4OTHER DATAAnnual Principal and Lease Payments 0.00Shares outstanding (millions) 60 .00Common dividends (millions) $42.8Interest rate on NIP and long-term bonds 6.0 %Federal plus state income tax rate 40%Year-end stock price $30 .60 What is the firms ROE (Return on Equity)?Group of answer choices 9.45% 9.63% 9.84% 10.20%BALANCE SHEETCash $ 140.0 Accounts payable $ 800 .0Accts. receivable 880 .0 Notes payable 600.0Inventories 1,320.0 Accruals 400 .0Total current assets $2,340.0 Total current liabilities $1,800.0Long-term bonds 1,000.0Total debt $2,800.0Common stock 200 .0Retained earnings 1,000.0Net plant & equip. 1,660.0 Total common equity $1,200.0Total assets $4.000.0 Total liabilities & equity $4.000.0lNCOME STATEMENTNet sales $6,000.0Operating costs 5,599.8Depreciation 100.2EBIT $ 300.0Less: Interest 96 .0EBT $ 204 .0Less: Taxes 81.6Net income $ 122.4OTHER DATAAnnual Principal and Lease Payments 0.00Shares outstanding (millions) 60 .00Common dividends (millions) $42.8Interest rate on NIP and long-term bonds 6.0 %Federal plus state income tax rate 40%Year-end stock price $30 .60 Question 5 What is the firm's EBITDA coverage? Group of answer choices 3.51 3.69 3.88 4.17 Question 6 What is the firms DSO (Days Sales Outstanding)? Group of answer choices 51.30 days 52.80 days 53.50…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
- need the calculation for debt to assets ratio, debt equity ratio, long-term debt to equity and times interest earned ratio. CURRENT ASSETS Cash and cash equivalents $ 5,910 $ 5,238 Marketable securities 406 503 Accounts receivable 10,888 9,645 Less: Allowance for credit losses (138) (93) Accounts receivable, net 10,750 9,552 Assets held for sale 1,197 0 Other current assets 1,953 1,810 Total Current Assets 20,216 17,103 Property, Plant and Equipment, Net 32,254 30,482 Operating Lease, Right-of-Use Asset 3,073 2,856 Goodwill 3,367 3,813 Intangible Assets, Net 2,274 2,167 Investments and Restricted Cash 25 24 Deferred Income Tax Assets 527 330 Other Non-Current Assets 672 1,082 Total Assets 62,408 57,857 Current Liabilities: Current maturities of long-term debt, commercial paper and finance leases 2,623 3,420 Operating Lease, Liability, Current 560 538 Accounts payable 6,455 5,555 Accrued wages and withholdings 3,569 2,552…Category Prior Year Current Year Accounts payable ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,516.41 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,946.66 Interest expense 40,500 41,874.31 Inventories 279,000 288,000 Long-term debt 336,467.85 401,942.46 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,499.58 Retained earnings 306,000 342,000 Sales 639,000 854,554.01 Taxes 24,750 48,384.56 ??? What is the current year's return on equity (ROE)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign re rounded to 4 decimal places (ex: 0.0924))XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.): Current Ratio ? times…
- Category. Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 429,735.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,152.00 Interest expense 40,500 42,662.00 Inventories 279,000 288,000 Long-term debt 339,349.00 400,985.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,641.00 Retained earnings 306,000 342,000 Sales 639,000 848,846.00 Тахes 24,750 47,931.00The comparative balance sheet of Merrick Equipment Co. for Dec. 31, 20Y9 and 20Y8, is:Dec. 31, 20Y9 Dec. 31, 20Y8AssetsCash $70,720 $47,940Accounts receivable (net) 207,230 188,190Inventories 298,520 289,850Investments 0 102,000Land 295,800 0Equipment 438,600 358,020Accumulated depreciation—equipment (99,110) (84,320)Total assets $1,211,760 $901,680Liabilities and Stockholders' EquityAccounts payable (merchandise creditors) $205,700 $194,140Accrued expenses payable (operating expenses) 30,600 26,860Dividends payable 25,500 20,400Common stock, $1 par 202,000 102,000Paid-in capital: Excess of issue price over par—common stock 354,000 204,000Retained earnings 393,960 354,280Total liabilities and stockholders' equity $1,211,760 $901,680The income statement for the year ended December 31, 20Y9, is as follows:Sales $2,023,898Cost of goods sold 1,245,476Gross profit $778,422Operating expenses:Depreciation expense $14,790Other operating expenses 517,299Total operating expenses 532,089Operating…Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 428,571.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,035.00 Interest expense 40,500 42,155.00 Inventories 279,000 288,000 Long-term debt 339,577.00 401,377.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,171.00 Retained earnings 306,000 342,000 Sales 639,000 849,094.00 Taxes 24,750 47,192.00 What is the current year's entry for long-term debt on a common-sized balance sheet? (ROUND TO 4 DECIMAL PLACES.)