Assume the following excerpts from a company's balance sheet: Bonds payable Common stock Retained earnings Beginning Balance $500,000 $900, 000 $375,000 Ending Balance $600,000 $900,000 $443,000 During the year, the company did not retire any bonds or Issue or repurchase any common stock. If the company's net income for the year was $110,000, then its net cash provided by (used In) financing activities would be: Multiple Choce $(58,000). $142,000. $(142.000). $58,000. O O O

Assume the following excerpts from a company's balance sheet: Bonds payable Common stock Retained earnings Beginning Balance $500,000 $900, 000 $375,000 Ending Balance $600,000 $900,000 $443,000 During the year, the company did not retire any bonds or Issue or repurchase any common stock. If the company's net income for the year was $110,000, then its net cash provided by (used In) financing activities would be: Multiple Choce $(58,000). $142,000. $(142.000). $58,000. O O O

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter6: Statement Of Cash Flows

Section: Chapter Questions

Problem 18E

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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 328,500 431,139.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,349.00 Interest expense 40,500 41,741.00 Inventories 279,000 288,000 Long-term debt 337,728.00 398,725.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,280.00 Retained earnings 306,000 342,000 Sales 639,000 847,106.00 Taxes 24,750 48,618.00 What is the current year's return on assets (ROA)? (Round to 4 decimal places.)
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))
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.)
Sun City Corporation's end-of-year balance sheet consisted of the following amounts: Cash Property, plant, and equipment Capital stock Retained earnings $ 25,000 70,000 100,000 Ob. $200,000 Oc. $165,000 Od. $100,000 7 Accounts receivable Long-term debt Accounts payable Inventory What amount should Sun City report on its balance sheet for total assets? Oa. $95,000 $70,000 40,000 20,000 35,000
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 47,931.00
Compute the amount of liabilities for Company E at the beginning of the year. End of Year $ Assets Equity, beginning of year Add: Stock issuances Add: Net income 115,920 Less: Cash dividends Equity, end of year Beginning of Year Assets $ = = = 101,010 = $ $ $ Liabilities + 91,576 + 6,500 8,642 15,142 11,000 24,344 Liabilities 101,010 + + GA $ Equity 24,344 Equity
Category Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year ??? ??? 320,715 397,400 40,500 33,750 500,000 541,650 17,500 47,500 94,000 105,000 328,500 431,876.00 33,750 35,000 54,000 54,402.00 40,500 42,823.00 279,000 288,000 339,660.00 398,369.00 946,535 999,000 148,500 162,000 126,000 162,881.00 306,000 342,000 639,000 847,928.00 24,750 47,224.00 What is the current year's return on assets (ROA)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))
Determining Cash Flows from Financing Activities Nichols Inc. reported the following amounts on its balance sheet for equity: Common stock Retained earnings Required: Jan. 1 $105,000 376,750 Dec. 31 $162,000 455,490 Assume that, for the current year, Nichols did not retire any stock, it reported $94,300 of net income for 2019, and any dividends declared were paid in cash. Determine the amounts Nichols would report in the financing section of the statement of cash flows. Issuance of common stock Payment of cash dividends
A company reports the amounts below in its financial statements. Net cash flow from operating activities $37,570 Total net cash flow 73,440 Current liabilities beginning of year 42,240 Current liabilities end of year 47,520 What is the company's operating cash flows to current liabilities ratio at the end of the year? Select one: a. 1.64 b. None of these are correct c. 0.79 d. 1.55 e. 0.84
1. Floyd Corporation was formed and began operations on January 1, 2020. The corpora- tion is located at 210 N. Main St., Pearisburg, VA 24134 and the EIN is 91-1111111. The corporation's income statement for the year and the balance sheet at year-end are presented below. The Floyd Corporation Income Statement for the Year Ended December 31, 2020 Gross income from operations Qualified dividends received from a 15 percent- owned domestic corporation Total gross income Cost of goods sold Total income $ 320,000 20,000 340,000 (70,000) 270,000 Other expenses: Compensation of officers Salaries and wages Bad debts (direct charge-offs) Repairs Depreciation for book (tax depreciation Advertising Payroll taxes Total other expenses Pretax book income Income tax expense Net income $80,000 20,000 9,000 3,000 10,000 3,000 15,000 $90,000) %3D (140,000) 130,000 25,200 $ 104,800
Determining Retained Earnings and Net Income The following information appears in the records of Bock Corporation at year-end: Accounts Receivable $23,000 Retained Earnings ? Accounts Payable 00 Supplies Cash Common Stock 110,000 9,000 8,000 Equipment, net 154,000 a. Calculate the balance in Retained Earnings at year-end $ 0 b. If the amount of the retained earnings at the beginning of the year was $30,000 and $12,000 in dividends is paid during the year, calculate net income for the year. $42,000
The following is an extract from the financial statements of Pompeii at 31 October: 20X7 20X6 $00 $000 Equity and liabilities: Share capital 120 80 Share premium 60 40 Retained earnings 85 68 265 188 Non-current liabilities: Bank loan 100 150 365 338 What Pompeii's net cash inflow or outflow from financing activities to include in the statement of cash flows for the year ended 31 October 20X7?