Question

In: Finance

Consider the following abbreviated financial statements for Parrothead Enterprises:     PARROTHEAD ENTERPRISES 2017 and 2018 Partial...

Consider the following abbreviated financial statements for Parrothead Enterprises:

   

PARROTHEAD ENTERPRISES
2017 and 2018 Partial Balance Sheets
Assets Liabilities and Owners’ Equity
2017 2018 2017 2018
  Current assets $ 1,248 $ 1,363 Current liabilities $ 531 $ 583
  Net fixed assets 5,022 6,065 Long-term debt 2,705 2,879

  

PARROTHEAD ENTERPRISES
2018 Income Statement
  Sales $ 15,634
  Costs 7,198
  Depreciation 1,405
  Interest paid 416

  

a. What is owners' equity for 2017 and 2018? (Do not round intermediate calculations.)
b. What is the change in net working capital for 2018? (Do not round intermediate calculations.)
c-1. In 2018, Parrothead Enterprises purchased $2,580 in new fixed assets. How much in fixed assets did Parrothead Enterprises sell? (Do not round intermediate calculations.)
c-2. In 2018, Parrothead Enterprises purchased $2,580 in new fixed assets. What is the cash flow from assets for the year? The tax rate is 23 percent. (Do not round intermediate calculations.)

  

Solutions

Expert Solution

*Please rate Thumbs up

jeff jeffy answered 1 year ago
Next > < Previous

Related Solutions

Consider the following abbreviated financial statements for Parrothead Enterprises:     PARROTHEAD ENTERPRISES 2017 and 2018 Partial...
Consider the following abbreviated financial statements for Parrothead Enterprises:     PARROTHEAD ENTERPRISES 2017 and 2018 Partial Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018 2017 2018   Current assets $ 1,308 $ 1,443 Current liabilities $ 601 $ 643   Net fixed assets 5,092 6,175 Long-term debt 2,815 2,999    PARROTHEAD ENTERPRISES 2018 Income Statement   Sales $ 16,114   Costs 7,288   Depreciation 1,465   Interest paid 456    a. What is owners' equity for 2017 and 2018? (Do not round intermediate calculations.) b....
Consider the following abbreviated financial statements for Parrothead Enterprises:     PARROTHEAD ENTERPRISES 2017 and 2018 Partial...
Consider the following abbreviated financial statements for Parrothead Enterprises:     PARROTHEAD ENTERPRISES 2017 and 2018 Partial Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018 2017 2018   Current assets $ 1,272 $ 1,395 Current liabilities $ 559 $ 607   Net fixed assets 5,050 6,109 Long-term debt 2,749 2,927    PARROTHEAD ENTERPRISES 2018 Income Statement   Sales $ 15,826   Costs 7,234   Depreciation 1,429   Interest paid 432    a. What is owners' equity for 2017 and 2018? (Do not round intermediate calculations.) b....
Consider the following abbreviated financial statements for Parrothead Enterprises:     PARROTHEAD ENTERPRISES 2017 and 2018 Partial...
Consider the following abbreviated financial statements for Parrothead Enterprises:     PARROTHEAD ENTERPRISES 2017 and 2018 Partial Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018 2017 2018   Current assets $ 1,290 $ 1,419 Current liabilities $ 580 $ 625   Net fixed assets 5,071 6,142 Long-term debt 2,782 2,963    PARROTHEAD ENTERPRISES 2018 Income Statement   Sales $ 15,970   Costs 7,261   Depreciation 1,447   Interest paid 444    a. What is owners' equity for 2017 and 2018? (Do not round intermediate calculations.) b....
Consider the following abbreviated financial statements for Parrothead Enterprises:     PARROTHEAD ENTERPRISES 2017 and 2018 Partial...
Consider the following abbreviated financial statements for Parrothead Enterprises:     PARROTHEAD ENTERPRISES 2017 and 2018 Partial Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018 2017 2018   Current assets $ 1,302 $ 1,435 Current liabilities $ 594 $ 637   Net fixed assets 5,085 6,164 Long-term debt 2,804 2,987    PARROTHEAD ENTERPRISES 2018 Income Statement   Sales $ 16,066   Costs 7,279   Depreciation 1,459   Interest paid 452    a. What is owners' equity for 2017 and 2018? (Do not round intermediate calculations.) b....
Consider the following abbreviated financial statements for Parrothead Enterprises:     PARROTHEAD ENTERPRISES 2017 and 2018 Partial...
Consider the following abbreviated financial statements for Parrothead Enterprises:     PARROTHEAD ENTERPRISES 2017 and 2018 Partial Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018 2017 2018   Current assets $ 1,266 $ 1,387 Current liabilities $ 552 $ 601   Net fixed assets 5,043 6,098 Long-term debt 2,738 2,915    PARROTHEAD ENTERPRISES 2018 Income Statement   Sales $ 15,778   Costs 7,225   Depreciation 1,423   Interest paid 428    a. What is owners' equity for 2017 and 2018? (Do not round intermediate calculations.) b....
Consider the following abbreviated financial statements for Parrothead Enterprises: Parrothead Enterprises 2017 and 2018 Partial Balance...
Consider the following abbreviated financial statements for Parrothead Enterprises: Parrothead Enterprises 2017 and 2018 Partial Balance Sheet Assets Liabilities & Owners Equity 2017 2018 2017 2018 Current assets $1230 $1339 Current liabilities $510 $565 Net fixed assets $5001 $6032 Long-term debt $2672 $2843 Parrothead Enterprises 2018 Income Statement Sales 15490 Costs 7171 Depreciation 1387 Interest paid 404 a. What is owners' equity for 2017 and 2018? (Do not round intermediate calculations.) b. What is the change in net working capital...
Consider the following abbreviated financial statements for Parrothead Enterprises:     PARROTHEAD ENTERPRISES 2014 and 2015 Partial...
Consider the following abbreviated financial statements for Parrothead Enterprises:     PARROTHEAD ENTERPRISES 2014 and 2015 Partial Balance Sheets Assets Liabilities and Owners’ Equity 2014 2015 2014 2015   Current assets $ 950 $ 1,016 Current liabilities $ 385 $ 416   Net fixed assets 3,967 4,608 Long-term debt 2,035 2,207    PARROTHEAD ENTERPRISES 2015 Income Statement   Sales $ 12,530   Costs 5,990   Depreciation 1,080   Interest paid 200    a. What is owners' equity for 2014 and 2015? (Do not round intermediate calculations.)   ...
Consider the following abbreviated financial statements for Barrie Enterprises: BARRIE Enterprises 2017 and 2018 Partial Statement...
Consider the following abbreviated financial statements for Barrie Enterprises: BARRIE Enterprises 2017 and 2018 Partial Statement of Financial Position Assets Liabilities and Owner's Equity 2017 2018 2017 2018 Current assets $ 938 $ 1,014 Current liabilities $ 377 $ 413 Net fixed assets 4,007 4,776 Long-term debt 2,111 2,249 BARRIE Enterprises 2018 Statement of Comprehensive Income Sales $ 12,800 Costs 5,509 Depreciation 1,153 Interest paid 318 a. What is owner's equity for 2017 and 2018? (Omit $ sign in your...
Consider the following abbreviated financial statements for Barrie Enterprises: BARRIE Enterprises 2017 and 2018 Partial Statement...
Consider the following abbreviated financial statements for Barrie Enterprises: BARRIE Enterprises 2017 and 2018 Partial Statement of Financial Position Assets Liabilities and Owner's Equity 2017 2018 2017 2018 Current assets $ 914 $ 990 Current liabilities $ 365 $ 410 Net fixed assets 3,767 4,536 Long-term debt 1,991 2,117 BARRIE Enterprises 2018 Statement of Comprehensive Income Sales $ 11,592 Costs 5,405 Depreciation 1,033 Interest paid 294 a. What is owner's equity for 2017 and 2018? (Negative answer should be indicated...
Consider the following abbreviated financial statements for Weston Enterprises: WESTON ENTERPRISES 2018 and 2019 Partial Balance...
Consider the following abbreviated financial statements for Weston Enterprises: WESTON ENTERPRISES 2018 and 2019 Partial Balance Sheets Assets Liabilities and Owners’ Equity 2018 2019 2018 2019 Current assets $ 1,266 $ 1,387 Current liabilities $ 552 $ 601 Net fixed assets 5,043 6,098 Long-term debt 2,738 2,915 WESTON ENTERPRISES 2019 Income Statement Sales $ 15,778 Costs 7,225 Depreciation 1,423 Interest paid 428 a. What is owners' equity for 2018 and 2019? (Do not round intermediate calculations.) b. What is the...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT