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- Which of the following constitutes an internal source of funds Oa. Corporate bonds b. Common stock Oc Commercial paper O d. Retained earnings and amortization cash flowIllies Corporation's comparative balance sheet appears below: Beginning Balance Assets: Current assets Cash and cash equivalents. Accounts receivable. Inventory. Total current assets Property, plant, and equipment. Less accumulated depreciation. Net property, plant, and equipment. Total assets. Liabilities and Stockholders' Equity Current liabilities: Accounts payable. Accrued wages and salaries payable.. Accrued income taxes payable. Notes payable. Total current liabilities. Long-term debt. Deferred income taxes. Total liabilities Stockholders' equity: Common stock. Retained earnings. Ending Balance Select one: $ 40,000 19,000 O a. $7,000 O b. $40,000 O c. $29,000 O d. $33,000 67,000 126,000 123,000 358,000 339,000 156,000 132,000 202.000 $328,000 $ 33,000 21,000 69,000 $ 18,000 35,000 23,000 207.000 $330,000 23,000 103,000 22,000 102,000 Total stockholders' equity 126,000 124.000 Total liabilities and stockholders' equity.... $328,000 $330.000 $ 19,000 37,000 19,000 19,000 22,000…"Accrued interest income" would normally appear in the financial statement under *Current assetsNoncurrent assetsRevenueEquity
- Organize the following under Income Statement, Share Holder's Equity, and Balance Sheet. a. Interest Receivable b. Interest Revenue c. Accounts Payable d. Accumulated Depreciation e. Wage PayableHirshberg Corporation's comparative balance sheet appears below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment. Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities. Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings. Total stockholders' equity Total liabilities and stockholders' equity. The company's net cash provided by (used in) investing activities is: Multiple Choice O $41,000 $38,300 O $(9,000) O Ending Balance $(23,000) $ 63,000 36,700 79,300 179,000 362,000 208,000 154,000 $333,000 The company's net income for the year was $14,700 and its cash dividends were $7,100. It did not sell or retire any property, plant, and equipment during the year. $ 39,300 84, 100 67,300…Liquid assets is determined by Select one: a. Current assets - current liabilities O b. Current liabilities- Bank overdraft c. Current assets +stock+ prepaid expenses O d. Current assets-stock-Prepaid expenses
- Autry Corporation's balance sheet and income statement appear below: Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Comparative Balance Sheet Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income $ 870 511 359 136 223 Ending Balance $ 46 79 58 183 652 251 401 $ 584 $ 53 30 58 141 81 222 56 306 362 $ 584 Beginning Balance $ 47 78 56 181 535 284 251 $ 432 $ 57 29 62 148 75 223 55 154 209 $ 432Dec. 31, 2020 Dec. 31, 2019 Assets Current assets: Cash and cash equivalents $248,005 $419,465 Accounts receivable 38,283 34,839 Inventory 15.043 15,332 Prepaid expenses and other current assets 39,965 34,795 Income tax receivable 58,152 16,488 Investments 415,199 338,592 Total current assets 814.647 859,511 Property, plant, & equipment, net 1,217.220 1,106,984 Long-term investments 622,939 496.106 Other assets 70,260 64,716 Total assets $2,725,066 $2,527,317 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $85,709 $69,613 Accrued payroll and benefits 64,958 73,894 Accrued liabilities 129,275 102,203 Total current liabilities 279,942 245,710 Deferred liabilities 284.267 240,975 Other liabilities 32.883 28,263 Total liabilities 597,092 514,948 Shareholders' equity: Common stock 358 354 Additional paid-in capital 954,988 861.843 Retained earnings 1,172.628 1,150,172 Total shareholders' equity 2,127,974 2,012.369 Total liabilities and shareholders' equity…Identify the asset from the following list of accounts:a. Notes Payableb. Common Stockc. Retained Earningsd. Inventory
- Appropriation for accumulated profits, if reflected in separate account, shall be shown as a. Component of equity as part of reserves b. Component of equity as part of share premium c. Component of total assets as noncurrent assets d. Component of total liabilities as current liabilityMarbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Gain on sale of plant and equipment Income before taxes Income taxes Net income $ 705 403 302 222 80 11 91 35 $ 56 Ending Balance $ 38 49 58 145 460 258 202 $ 347 $ 51 24 47 122 97 219 42 86 128 $ 347 Beginning Balance $ 33 52 52 137 420 252 168 $ 305 $ 47 18 47 112 124 236 32 37 69 $…What item flows from the income statement to the statement of retained earnings?a. Cashb. Dividendsc. Net incomed. Inventory