Question
In: Accounting
Question 16 1 pts Use the following information for the next three items. The balance sheet...
Question 16 1 pts
Use the following information for the next three items.
The balance sheet of Y Company showed the following:
|
Accounts payable |
P145,000 |
|
Accounts receivable |
110,000 |
|
Accrued liabilities |
4,000 |
|
Cash |
80,000 |
|
Income tax payable |
10,000 |
|
Inventory |
140,000 |
|
Marketable securities |
250,000 |
|
Notes payable, short-term |
85,000 |
|
Prepaid expenses |
15,000 |
The amount of working capital for the company is
Group of answer choices
P211,000
P351,000
P336,000
P361,000
Question 171 pts
The company’s current ratio as of the balance sheet date is
Group of answer choices
2.44:1
2.02:1
1.95:1
2.67:1
Question 18 1 pts
The company’s acid-test ratio as of the balance sheet date is
Group of answer choices
2.02:1
1.80:1
2.40:1
1.76:1
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Use the following balance sheet information to answer this question. Balance Sheet (dollars in thousands) and...
Use the following balance sheet information to answer this
question.
Balance Sheet (dollars in thousands) and Duration (in
years)
Duration Amount
T-bills 0.5 90
T-notes 0.9 55
T-bonds 4.393 176
Loans 7 2,724
Deposits 1 2,092
Federal funds 0.01 238
Equity 715
A )What is the average duration of all the assets?
B )What is the average duration of all the liabilities?
C )What is the FI’s leverage-adjusted duration gap? What is
the FI’s interest rate risk exposure?
D...
Use the following information for the next four questions: Question 16: The Umbrella Corporation is considering...
Use the following information for the next four questions:
Question 16:
The Umbrella Corporation is considering expanding one of its
production facilities to research a new type of zombie, which will
hopefully not result in another zombie outbreak. The project would
require a $21,000,000 capital investment and will be depreciated
(straight-line to zero) over its 3 year life. They know that they
will be able to salvage $8,500,000 for the equipment at that
time.
Incremental sales are expected to be...
Question 1 The following balance sheet information is available (amounts in $ thousands and duration in...
Question 1
The following balance sheet
information is available (amounts in $ thousands and duration in
years) for a financial institution
Amount
Duration
T-bills
90
0.5
T-notes
55
0.9
T-bonds
176
To be calculated
Loans
2724
7
Deposits
2092
1
Federal Funds
238
0.01
Equity
715
Treasury bonds are 5-year
maturities paying 6% semiannually and selling at par
What is the duration of the T-Bond portfolio?
What is the average duration of
all the assets?
What is the average duration...
QUESTION 5 Entity A reported the following items on its balance sheet at the end of...
QUESTION 5
Entity A reported the following items on its balance sheet at
the end of the current year. All accounts are listed.
Cash $45,000
Accounts payable 80,000
Property, plant & equipment 200,000
Long-term debt 60,000
Common stock 150,000
Accounts receivable 90,000
Retained earnings ?
Inventory 75,000
What is Entity A’s Retained Earnings balance at
the end of the current year?
$270,000
$410,000
$140,000
$120,000
QUESTION 6
Entity I forgot to record four adjusting entries during 2019.
Which one of...
Question 7 Use the following income statement and balance sheet information to put together a statement...
Question 7
Use the following income statement and balance sheet information
to put together a statement of cash flows. (Enter
negative amounts using either a negative sign preceding the number
e.g. -45 or parentheses e.g. (45).)
2017
Sales
$1,242,000
Cost of goods sold
$685,000
Gross profit
$557,000
Gen'l & admin expense
$156,000
Selling & mkt expense
$135,000
Depreciation
$24,000
Operating income
$242,000
Interest
$140,000
Income before taxes
$102,000
Income taxes (27%)
$27,540
Net income
$74,460
Dividends paid
$25,000
Assets
2017...
In what section of the balance sheet should the following items appear, and what balance sheet terminology would you use?
In what section of the balance sheet should the following items
appear, and what balance sheet terminology would you use? (a)
Treasury stock (recorded at cost). (b) Checking account at bank.
(c) Land (held as an investment). (d) Sinking fund. (e) Unamortized
premium on bonds payable. (f) Copyrights. (g) Pension fund assets.
(h) Premium on common stock. (i) Long-term investments (pledged
against bank loans payable).
QUESTION 1 Given the following income statement and balance sheet data, select which items would be...
QUESTION 1
Given the following income statement and balance sheet data,
select which items would be included in presenting the cash flow
from operating activities section of the statement of cash flows
using the indirect method:
Income Statement ($ millions)
2019
Sales
$40,000
Less: Cost of goods sold
21,600
Gross profits
18,400
Less: Cash operating expenses
12,400
Less: Depreciation expense
1,100
Less: Amortization expense
120
Operating profits (EBIT)
4,780
Less: Interest expense
300
Equity in earnings (loss) of affiliate
40...
QUESTION 7 Use the following information to answer the next two questions: (Question 1 of 2)...
QUESTION 7
Use the following information to answer the next two
questions: (Question 1 of 2)
Higgins Company purchased specialized equipment on July 1, 2019,
that cost $300,000, has a residual value of $40,000, and a useful
life of four years.
The amount of depreciation expense for 2020,
under the double declining balance method is:
A.
$112,500.
B.
None of the above
C.
$97,500.
D.
$75,000.
E.
$125,000.
2 points
QUESTION 7
B
Use the following information to answer...
Question 211 pts Garamond Corporation reported the following income statement and balance sheet for the previous...
Question 211 pts
Garamond Corporation reported the following income statement and
balance sheet for the previous year:
Balance Sheet
Cash
P 100,000
Inventories
1,000,000
Accounts receivable
500,000
Current assets
P1,600,000
Total debt
P4,000,000
Net fixed assets
4,400,000
Total equity
2,000,000
Total assets
P6,000,000
Total claims
P6,000,000
Income Statement
Sales
P3,000,000
Operating costs
1,600,000
Operating income (EBIT)
P1,400,000
Interest
400,000
Taxable income (EBT)
P1,000,000
Taxes (40%)
400,000
Net income
P 600,000
The company’s interest cost is 10%, so the company’s interest...
Which of the following items are included on the balance sheet?
the
balance sheet is a snapshot of the entity. Which of the following
items are included on the balance sheet?A.assetsB.RevemuesC.expensesD.withdrawls
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