Question
In: Finance
Smiley Corporation's current sales and partial balance sheet areshown below. This year Sales $ 10,000...
Smiley Corporation's current sales and partial balance sheet are shown below. This year Sales $ 10,000 Balance Sheet: Liabilities Accounts payable $ 1,500 Notes payable $ 3,000 Accruals $ 2,000 Total current liabilities $ 6,500 Long-term bonds $ 2,000 Total liabilities $ 8,500 Common stock $ 1,000 Retained earnings $ 2,500 Total common equity $ 3,500 Total liabilities & equity $ 12,000 Sales are expected to grow by 12% next year. Assuming no change in operations from this year to next year, what are the projected spontaneous liabilities? Do not round intermediate calculations. Round your answer to the nearest dollar.
Solutions
Expert Solution
- Current Spontaneous sales = Accounts Payable + Accruals = $1500 + $2000
= $3500
Expected Sales Growth rate next year = 12%
Projected spontaneous liabilities = Current Spontaneous sales*(1+Expected Sales Growth rate)
= $3500*(1+0.12)
Projected spontaneous liabilities = $3,920
jeff jeffy answered 2 years agoRelated Solutions
Berman & Jaccor Corporation's current sales and partial balance sheet are shown below. This year Sales...
Berman & Jaccor Corporation's current sales and partial
balance sheet are shown below.
This year
Sales
$
1,000
Balance Sheet: Assets
Cash
$
200
Short-term investments
$
140
Accounts receivable
$
100
Inventories
$
150
Total current assets
$
590
Net fixed assets
$
400
Total assets
$
990
Sales are expected to grow by 12% next year. Assuming no change
in operations from this year to next year, what are the projected
total operating assets? Do not round intermediate...
Berman & Jaccor Corporation's current sales and partial balance sheet are shown below. This year $1,000...
Berman & Jaccor Corporation's current sales and partial balance sheet are shown below. This year Sales$1,000Balance Sheet: Assets Cash$ 150 Short-term investments $ 145Accounts receivable $ 300Inventories $ 300Total current assets $ 895Net fixed assets $ 600Total assets $ 1,495 Sales are expected to grow by 12% next year. Assuming no change in operations from this year to next year, what are the projected total operating assets? Do not round intermediate calculations. Round your answer to the nearest dollar.
Projected Operating Assets Berman & Jaccor Corporation's current sales and partial balance sheet are shown below....
Projected Operating Assets Berman & Jaccor Corporation's
current sales and partial balance sheet are shown below.
This year
Sales $ 1,000
Balance Sheet: Assets
Cash $ 150
Short-term investments $ 70
Accounts receivable $ 250
Inventories $ 200
Total current assets $ 670
Net fixed assets $ 450
Total assets $ 1,120
Sales are expected to grow by 12% next year. Assuming no change
in operations from this year to next year, what are the projected
total operating assets? Do...
Projected Operating Assets Berman & Jaccor Corporation's current sales and partial balance sheet are shown below....
Projected Operating Assets
Berman & Jaccor Corporation's current sales and partial
balance sheet are shown below.
This year
Sales
$
1,000
Balance Sheet: Assets
Cash
$
150
Short-term investments
$
115
Accounts receivable
$
150
Inventories
$
250
Total current assets
$
665
Net fixed assets
$
600
Total assets
$
1,265
Sales are expected to grow by 14% next year. Assuming no change
in operations from this year to next year, what are the projected
total operating assets? Do...
Projected Operating Assets Berman & Jaccor Corporation's current sales and partial balance sheet are shown below....
Projected Operating Assets
Berman & Jaccor Corporation's current sales and partial
balance sheet are shown below.
This year
Sales
$
1,000
Balance Sheet: Assets
Cash
$
100
Short-term investments
$
95
Accounts receivable
$
250
Inventories
$
300
Total current assets
$
745
Net fixed assets
$
450
Total assets
$
1,195
Sales are expected to grow by 10% next year. Assuming no change
in operations from this year to next year, what are the projected
total operating assets? Do...
Projected Operating Assets Formula Explanation Berman & Jaccor Corporation's current sales and partial balance sheet are...
Projected Operating Assets Formula
Explanation
Berman & Jaccor Corporation's current sales and partial
balance sheet are shown below.
This year
Sales
$
1,000
Balance Sheet: Assets
Cash
$
100
Short-term investments
$
70
Accounts receivable
$
200
Inventories
$
200
Total current assets
$
570
Net fixed assets
$
450
Total assets
$
1,020
Sales are expected to grow by 12% next year. Assuming no change
in operations from this year to next year, what are the projected
total operating...
Krech Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Krech Corporation's comparative balance sheet appears below:
Comparative Balance Sheet
Ending Balance
Beginning Balance
Assets:
Current assets:
Cash and cash equivalents
$
31,000
$
28,000
Accounts receivable
18,000
20,000
Inventory
58,000
56,000
Prepaid expenses
12,000
10,000
Total current assets
119,000
114,000
Property, plant, and equipment
374,000
354,000
Less accumulated depreciation
190,000
165,000
Net property, plant, and equipment
184,000
189,000
Total assets
$
303,000
$
303,000
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
$
13,000
$
9,000
Accrued liabilities
52,000...
Krech Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Krech Corporation's comparative balance sheet appears below:
Comparative Balance Sheet
Ending Balance
Beginning Balance
Assets:
Current assets:
Cash and cash equivalents
$
32,000
$
25,800
Accounts receivable
18,500
21,000
Inventory
60,000
57,500
Prepaid expenses
12,200
10,100
Total current assets
122,700
114,400
Property, plant, and
equipment
386,000
366,000
Less accumulated
depreciation
193,000
164,700
Net property, plant, and
equipment
193,000
201,300
Total assets
$
315,700
$
315,700
Liabilities and stockholders'
equity:
Current liabilities:
Accounts payable
$
14,700
$
10,000
Accrued liabilities
53,000...
Krech Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Krech Corporation's comparative balance sheet appears below:
Comparative Balance Sheet
Ending Balance
Beginning Balance
Assets:
Current assets:
Cash and cash equivalents
$
33,000
$
26,300
Accounts receivable
19,000
22,000
Inventory
62,000
59,000
Prepaid expenses
12,400
10,200
Total current assets
126,400
117,500
Property, plant, and equipment
398,000
378,000
Less accumulated depreciation
199,000
170,100
Net property, plant, and equipment
199,000
207,900
Total assets
$
325,400
$
325,400
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
$
16,200
$
11,000
Accrued liabilities
54,000...
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Illies Corporation's comparative balance sheet appears
below:
Comparative Balance Sheet
Ending Balance
Beginning Balance
Assets:
Current assets:
Cash and cash equivalents
$
45,000
$
38,000
Accounts receivable
24,000
26,500
Inventory
72,000
74,500
Total current assets
141,000
139,000
Property, plant, and equipment
373,000
349,000
Less accumulated depreciation
166,000
137,000
Net property, plant, and equipment
207,000
212,000
Total assets
$
348,000
$
351,000
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
$
23,000
$
24,500
Accrued liabilities
59,000
64,500
Income taxes payable...
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