Problem 2. ABC Company started the accounting period with a capital balance of P456,000 and ended the period with a capital balance of P474,000. During the period, the owner made an additional investment of P10,000 and personal withdrawals of P20,000. How much is the net income enjoyed or net loss suffered by the company during the period? a. P8,000 net income b. P8,000 net loss c. P28,000 net income d. P28,000 net loss
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- wo years. EXERCISE 15-2 Financial Ratios for Assessing Liquidity LO15-2 ending December 31 appear below. The company did not issue any new common stock during the payable was 12%, the income tax rate was 40%, and the dividend per share of common stock was this year was $18. All of the company’s sales are on account. year Deceof 800,000 shares of common stock were outstanding, The interest rate on the bond year. $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash .... $ 1,280 $ 1,560 Accounts receivable, net 12,300 9,100 Inventory .... 9,700 8,200 Prepaid expenses 1,800 2,100 Total current assets 25,080 20,960 Property and equipment: Land ..... 6,000 6,000 Buildings and equipment, net .. 19,200 19,000 epeA Total property and equipment ... 25,200 25,000 Total assets $50,280 $45,960 Liabilities and Stockholders' Equity Current…9. At the beginning of the year, an Entity had total assets of P700,000 and total liabilities of P500,000. If the total assets increased by 30% which corresponds to decrease in total liabilities by 20%, what is the amount of owner's equity at the end of the year?* O A. P200,000 O B. P210,000 O C. P110,000 O D. P510,000At the beginning of the year, an Entity had total assets of P700,000 and total liabilities of P500,000. If the total assets increased by 30% which corresponds to decrease in total liabilities by 20%, what is the amount of owner’s equity at the end of the year?A. P200,000B. P210,000C. P110,000D. P510,000
- A. Solve each of the following problems. 1. Sioux Company had current assets amounting to P100,000. Noncurrent assets for the year totaled P76,000. How much is the company’s total assets? 2. Bjork Company’s total liabilities amounted to P10,000. Total equity had an ending balance of P20,000. How much is total assets? 3. Laoise Company had the following accounts at year end: Cash P250,000, Accounts Payable P70,000, Prepaid Expense P15,000. Compute for the company’s current assets. 4. Luna Company’s Accounts Receivable amounted to P500,000. Prepaid Expense and Unearned Income totaled P30,000 and P10,000 respectively. Cash balance amounted to P100,000 while Accounts Payable and Inventory totaled to P20,000 and P10,000 respectively. How much is the company’s current assets? Current liabilities? 5. Claes Company’s Total Liabilities and Equity amounted to P285,000. Total noncurrent assets ended at P85,000. Cash totaled P50,000. Inventory amounted to P100,000. Assuming the company had no…If Income Summary has a P10,000 debit balance before it is closed to the Capital account, you know that Choices: The company had a profit of P10,000 Expenses exceeded revenue by P10,000 Owner made withdrawals of P10,000 The company has a net loss of P10,000b. 25. At the start of the period, a business has total assets of P500,000 and total liabilities of P300,000. During the period, the business earned total income of P1,000,000 and total expenses of P640,000. No additional investments or withdrawals were made by the owner. Total assets at the end of the period were P830,000. How much is the total liabilities at the end of the period? a. P 280,000 b. P 270,000 c. P 260,000 d. P 240,000
- 11. If beginning capital was $25,000, ending capital is $37,000, and the owner's withdrawals were $23,000, the amount of net income or net loss for the period was: a. net loss of $35,000 b. net income of $35,000 c. net income of $14,000 d. net loss of $14,000 12. A company began the accounting period with $50,000 in owner's capital, ended with $75,000 in owner's capital, and the owner withdrew $30,000 during the period for personal use. What was the company's net income or loss for the period? a. $55,000 net income. b. $30,000 net loss. c. $5,000 net loss. d. $5,000 net income.12. Mara Inc. is a retail business with the following financial forecasts as well as the current (t=0) working capital levels ($000): 0 1 2 $9.75 $11.95 $2.08 $2.98 $1.06 $0 $3.64 $1.88 $1.85 $1.85 $1.85 Net Income Depreciation CAPEX Accounts Receivables $2.5 $2.75 $1.45 $0.97 Inventory Accounts Payable 3 4 $14.67 $24.99 $3.91 $5.03 $0 $1.01 $4.47 $5.23 $4.59 $2.76 $1.85 $1.85 5 $30.03 $4.06 $0 $2.21 $1.02 $1.85 a) Calculate the net working capital for each month.. b) During which month is the firm's change in net working capital the greatest? {The following financial information was provided by Anya Company: Net Income 8,255,000.00 NOPAT 75,785,000.00 EBITDA 143.000.000.00 Net Profit Margin 6.00% Operating capital 425.070.000.00 After tax cost of capital 12.00% Tax rate 35.00% 1. Assuming the Company has no amortization expense, how much is its depreciation expense? Use 2 decimal places in your final answer 2. Refer to Anya Company, calculate its Interest Expense. Use 2 decimal places in your final answer 3. Refer to Anya Company, calculate its sales. Use 2 decimal places in your final answer
- MC.03.083.Algo Wu Systems has the following balance sheet. Assume that all current assets are used in operations. How much net operating working capital does the firm have? Cash Accounts receivable Inventory Current assets Net fixed assets Total assets O a. $400 b. $1,770 O c. $2,200 d. $470 e. $830 $ 70 Accounts payable 720 Accruals 510 $1,300 1,000 Notes payable Current liabilities Long-term debt Common equity Retained earnings $2,300 Total liab. & equity $ 250 220 430 Question 3 of 40 $ 900 640 260 500 $2,3001) The total assets of X firm is P350,000 of which P50,000 is accounts receivable. Subsequently, P22,500 of accounts receivable was collected. What is the new balance of its total assets? a. P377,500 b. P322,000 c. P350,000 d. P400,000 2) The net asset (capital of Y) was P125,000. An account payable of P11,700 was paid. What is the new balance of Y’s net asset? a. P136,700 b. P133,300 c. P125,000 d. P101,600Q1. An annual income statement from Quest Realty, Inc. is shown below: (A) Revenues Revenue from sales of goods and services S80,000,000 Operating costs and expenses: Cost of products and services sold Selling expenses... Administrative expense. S30,000,000 S3,000,000 $4,000,000 Total operating costs and expenses. S37.000.000 Income from operations Interest expense (corporate bonds & loans). Non-recurring expense (Legal expenses fines in settling a federal antitrust suit. Income taxes S43,000,000 S300,000 S200,000 $700.000 Net income.. S41,800,000 During this year of operation, Quest Realty owned and occupied an office building in downtown Indianapolis. For this year, the building could have been leased to other businesses for $2,000,000 in lease income. Quest Realty also owned undeveloped land valued at $15,000,000. Owners of Quest Realty can earn a 14% rate of return annually on funds invested elsewhere. Calculate: a) Total explicit costs b) Total implicit costs c) Total economic…