Question
In: Finance
Given Chester Corporation’s Q2 balance sheet, compute the missing balance sheet amounts: Cash $19,546,000 Accounts Receivable...
Given Chester Corporation’s Q2 balance sheet, compute the missing balance sheet amounts: Cash $19,546,000 Accounts Receivable $5,853,000 Inventory $3,820,000 Plant & Equipment $74,640,000 Accumulated Depreciation ($28,373,000) Accounts Payable $3,478,000 Current Debt $15,300,000 Long Term Debt $24,817,000 Common Stock $8,629,000 Retained Earnings $23,261,000 Market Cap $69,304,000 Current Assets -?- Current Liabilities -?- Total Equity -?- Total Assets -?-
Solutions
Expert Solution
| Liabilities | Amount in $ | Amount in $ |
| Shareholders fund | ||
| Common stock | 8,629,000.00 | |
| Retained earnings | 23,261,000.00 | 31,890,000.00 |
| Borrowings | ||
| Long term debt | 24,817,000.00 | 24,817,000.00 |
| Current liabilities | ||
| Account payable | 3,478,000.00 | |
| current debt | 15,300,000.00 | |
| Other outstanding liabilities (balancing figure) | 1,000.00 | 18,779,000.00 |
| 75,486,000.00 | ||
| Assets | ||
| Plant & Machinery | 74,640,000.00 | |
| Accumulated depreciation | -28,373,000.00 | 46,267,000.00 |
| Current Assets | ||
| Cash | 19,546,000.00 | |
| Accounts Receivable | 5,853,000.00 | |
| Inventory | 3,820,000.00 | 29,219,000.00 |
| 75,486,000.00 | ||
| Final Answer | ||
| So, | ||
| Current Assets | 29,219,000.00 | |
| Current liabilities | 18,779,000.00 | |
| Total Assets | 75,486,000.00 | |
| Total liabilities | 43,596,000.00 | (excluding equity $31890000) |
jeff jeffy answered 3 years agoRelated Solutions
Q2: Brown Cow Dairy uses the balance sheet approach (aging of accounts receivable) to estimate the...
Q2:
Brown Cow Dairy uses the balance sheet approach (aging of accounts
receivable) to estimate the uncollectible accounts expense. The
balance of each account receivable is aged on the basis of three
time periods as follows: (1) not yet due, $25,000; (2) up to 120
days past due, $10,000; and (3) more than 120 days past due,
$5,000. Experience has shown that, for each age group, the average
uncollectible percentage of receivables are (1) 2 percent, (2) 10
percent, (3)...
Find the missing Parts of the Balance Sheet: Cash [ Select ] ["25", "30", "20"] Accounts...
Find the missing Parts of the Balance Sheet:
Cash
[ Select ] ["25", "30",
"20"]
Accounts Payable
12
Accounts Receivables
15
Accruals
[ Select ] ["15", "20",
"10"]
Inventories
20
Notes Payable
20
Current
Assets
[ Select ]
["45", "55", "60"]
Current
Liabilities
[ Select ]
["30", "18", "42"]
Gross Fixed Assets
45
Long Term Debt
30
Depreciation
8
Net fixed Assets
37
Common Stock
20
Retained Earnings
5
Total Fixed
Assets
97
Common
Equity
25
Total Liabilities and Owners...
12.Use your knowledge of balance sheets to fill in the amounts missing in the text. Cash$50,000Accounts...
12.Use your knowledge of balance sheets to fill in the
amounts missing in the text.
Cash$50,000Accounts payable$12,000
Accounts receivable80,000Notes payable50,000
Inventory Total current liabilities$
Total current assets$Long-term debt
Gross P&E Total liabilities$
Less accumulatedCommon stock100,000
depreciation130,000Paid-in capital250,000
Net P&E$600,000Retained earnings200,000
Total assetsTotal stockholders’ equity
Total liabilities and equity$830,000
Case X: Compute cash received from customers: Sales $ 710,000 Accounts receivable, Beginning balance 30,000 Accounts...
Case X:
Compute cash received from customers:
Sales
$
710,000
Accounts receivable, Beginning balance
30,000
Accounts receivable, Ending balance
41,400
Case Y:
Compute cash paid for rent
Rent expense
$
102,300
Rent payable, Beginning balance
5,550
Rent payable, Ending balance
4,551
Case Z:
Compute cash paid for inventory
Cost of goods sold
$
688,000
Inventory, Beginning balance
213,280
Accounts payable, Beginning balance
89,578
Inventory, Ending balance
174,890
Accounts payable, Ending balance
111,077
For each of the above three separate cases,...
The following T-accounts represent September activity. Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity.
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB (9/1)
7,500
(a)
4,300
(b)
EB (9/30)
10,500
Work-In-Process
Inventory
BB (9/1)
20,600
180,500
(e)
121,000
87,700
EB (9/30)
18,000
Finished Goods
Inventory
BB (9/1)
13,800
(e)
(f)
EB (9/30)
(g)
Cost of Goods Sold
397,300
Applied Overhead
Control
(d)
Manufacturing Overhead
Control
121,000
4,300
36,200
30,600
2,200
Wages Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated
Depreciation—Plant...
The following T-accounts represent September activity. Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity.
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB (9/1)
7,500
(a)
4,000
(b)
EB (9/30)
9,300
Work-In-Process Inventory
BB (9/1)
22,600
181,500
(e)
121,000
84,200
EB (9/30)
19,000
Finished Goods Inventory
BB (9/1)
13,300
(e)
(f)
EB (9/30)
(g)
Cost of Goods Sold
397,700
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
4,000
36,200
30,700
4,900
Wages Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated Depreciation—Plant...
The following T-accounts represent September activity: Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity:
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB (9/1)
8,000
(a)
5,100
(b)
EB (9/30)
9,600
Work-In-Process Inventory
BB (9/1)
20,800
179,200
121,000
98,300
EB (9/30)
17,000
Finished Goods Inventory
BB (9/1)
14,900
(e)
(f)
EB (9/30)
(g)
Cost of Goods Sold
396,900
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
5,100
36,200
34,000
2,500
Wages Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated Depreciation—Plant &...
The following T-accounts represent September activity: Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity:
Required:
Compute the missing amounts indicated by the letters (a) through
(i).
Materials Inventory
BB (9/1) 8,000
(a) 5,200
(b)
EB (9/30) 8,800
Work-In-Process Inventory
BB (9/1) 21,800
179,100
121,000
94,000
EB (9/30) 15,900
Finished Goods Inventory
BB (9/1) 13,500
(e) (f)
EB (9/30) (g)
Cost of Goods Sold
397,000
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
5,200
36,200
34,300
3,500
Wages Payable
124,300
162,000 (c)
36,200
119,500 EB (9/30)
Accumulated Depreciation—Plant &...
The following T-accounts represent September activity: Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity:
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB (9/1)
8,000
(a)
4,900
(b)
EB (9/30)
8,900
Work-In-Process Inventory
BB (9/1)
21,100
180,700
121,000
99,200
EB (9/30)
18,500
Finished Goods Inventory
BB (9/1)
14,300
(e)
(f)
EB (9/30)
(g)
Cost of Goods Sold
396,400
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
4,900
36,200
30,100
4,400
Wages Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated Depreciation—Plant &...
1.The balance sheet for PalletPaper, Inc. shows cash is $73,500, accounts receivable are $185,400, inventories are...
1.The balance sheet for PalletPaper, Inc. shows cash is $73,500,
accounts receivable are $185,400, inventories are $447,300, fixed
assets are $820,000, current liabilities are $489,450, accounts
payable are $132,500, accrued payroll is $145,000 and long-term
debt is $900,000? What is the current ratio for PalletPaper?
A.more than 1.5
B.more than 1.46but less than 1.53
C.more than 1.39but less than1.4
D.more than 1.32 but less than 1.39
E.less than 1.32
2.Which of the following statements is correct?(x)If a firm
undertakes a...
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