Required Use the following Information to prepare a classified balance sheet for Alpha Company at the end of Year 1. Accounts receivable $ 43,280 Accounts payable Cash Common stock Land Long-term notes payable Merchandise inventory Retained earnings 6,135 17,530 41,000 29,430 22,350 30,550 51,305 Current assets ALPHA COMPANY Classified Balance Sheet As of December 31, Year 1 Total current assets Property, plant and equipment $ ° ° Total property, plant and equipment Total assets $ ° Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity 0 ° $ О

Required Use the following Information to prepare a classified balance sheet for Alpha Company at the end of Year 1. Accounts receivable $ 43,280 Accounts payable Cash Common stock Land Long-term notes payable Merchandise inventory Retained earnings 6,135 17,530 41,000 29,430 22,350 30,550 51,305 Current assets ALPHA COMPANY Classified Balance Sheet As of December 31, Year 1 Total current assets Property, plant and equipment $ ° ° Total property, plant and equipment Total assets $ ° Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity 0 ° $ О

Name: RequiredUse the following Information to prepare a classified balance
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Description: RequiredUse the following Information to prepare a classified balance sheet for Alpha Company at the end of Year 1.Accounts receivable$ 43,280Accounts payable6,135Cash17,530Common stock41,000Land29,430Long-term notes payable22,350Merchandise invento

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4PB

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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.…
Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable. Common stock, $10 par value Retained earnings Total liabilities and equity Current Year $ 30,800 88,100 111,000 10,900 280,000 $ 520,800 $ 128,400 98,000 163,500 130,900 $ 520,800 Current Year 1 Year Ago $ 35,000 61,500 82,400 9,300 250,500 $ 438,700 $ 478,850 243,350 12,100 9,550 $73,750 101,750 163,500 99,700 $438,700 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses $785,000 Interest expense Income tax expense Total costs and expenses Net income Earnings per share For both the Current Year and 1 Year Ago, compute the following ratios: 743,850 $ 41,150 $ 2.52 2…
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Question: Prepare a statement of profit or loss and other comprehensive income for the year ended 31 December 2021 Below is the list of nominal ledger balances of Tonson Plc at 31 December 2021. Tonson’s financial year end is at 31 December. Nominal ledger closing balances at 31 December 2021 The following information is relevant. 1. Closing inventory at 31 December 2021 is £45,000 On further investigation of the suspense account in the trial balance above, it was discovered that: An expense of £8,250 for legal services had been posted to the suspense account and a cash receipt of £15,750 had been posted to the suspense account. This represented the disposal proceeds from selling equipment, which had been purchased on 1 March 2017 at a cost of £48,000. Tonson depreciates non-current assets as follows: buildings at 1 per cent on a straight-line basis plant and equipment at 10 per cent on a straight-line basis motor vehicles at 20 per cent on a reducing balance basis.…
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Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year $ 27,970 80, 264 100,917 9,097 251, 134 $ 469,382 $ 116,876 90,891 163,500 98,115 $ 469,382 $ 372,220 189,161 10,373 7,933 For both the current year and one year ago, compute the following ratios: Current Year 1 Year Ago $ 31,400 58,349 77,104 8,412 229,375 $ 404,640 Exercise 13-9 (Algo) Analyzing risk and capital structure LO P3 $ 70,436 92,137 163,500 78,567 $ 404,640 The company's income statements for the current year and one year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share $ 610,197 579,687 $ 30,510 $1.88 2 Years Ago $ 312,989…
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Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current balances appear in the ledger of Prescott Inc. for the fiscal year ended September 30, 20Y8: Cash $187,875 Retained Earnings (as of Sept. 30, 20Y7) $ 571,050 Accounts Receivable 337,500 Dividends 281,250 Inventory 850,500 Sales 8,025,750 Estimated Returns Inventory 78,750 Cost of Goods Sold 4,893,750 Office Supplies 33,750 Sales Salaries Expense 874,800 Prepaid Insurance 27,000 Advertising Expense 103,275 Office Equipment 259,200 Depreciation Expense— Store Equipment 18,675 Accumulated Depreciation— Office Equipment 111,375 Miscellaneous Selling Expense 4,500 Store Equipment 1,150,875 Office Salaries Expense 174,150 Accumulated Depreciation— Store Equipment 420,075 Rent Expense 89,775 Accounts Payable 109,350 Insurance Expense 51,638 Customer Refunds Payable…
Use the following Company A Balance Sheet for the next questions 8 and 9 ASSETS Cash Accounts Receivable, net Inventory Other Current Assets Property, Plant and Equipment, net Other Total Assets 1. 1. 2. 3. The Common Size entry for Inventory for Company A is: 54% 33% 18% S 16% $ LIABILITIES AND EQUITY Accounts Payable Accrued Expenses Current portion of LTD Other 1,400,000 1,600,000 1,800,000 500,000 5,300,000 20%Current Liabilities 3,700,000 Long Term Debt 1,000,000 Shareholder's Equity 10,000,000 100% Total Liabilities and Equity 1,200,000 1,500,000 300,000 400,000 3,400,000 2,800,000 3,800,000 $ 10,000,000
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