Question
In: Accounting
itter Corporation’s accountants prepared the following financial statements for year-end 2019: (Do not round intermediate calculations.)...
|
itter Corporation’s accountants prepared the following financial statements for year-end 2019: (Do not round intermediate calculations.) |
| RITTER CORPORATION | ||
| Income Statement | ||
| 2019 | ||
| Revenue | $ | 940 |
| Expenses | 660 | |
| Depreciation | 109 | |
| Net income | $ | 171 |
| Dividends | $ | 151 |
| RITTER CORPORATION | |||||
| Balance Sheets | |||||
| December 31 | |||||
| 2018 | 2019 | ||||
| Assets | |||||
| Cash | $ | 74 | $ | 103 | |
| Other current assets | 184 | 208 | |||
| Net fixed assets | 389 | 409 | |||
| Total assets | $ | 647 | $ | 720 | |
| Liabilities and Equity | |||||
| Accounts payable | $ | 134 | $ | 163 | |
| Long-term debt | 159 | 183 | |||
| Stockholders’ equity | 354 | 374 | |||
| Total liabilities and equity | $ | 647 | $ | 720 | |
| a. | What is the change in cash during 2019? |
| b. | Determine the change in net working capital in 2019. |
| c. | Determine the cash flow generated by the firm’s assets during 2019. |
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Ritter Corporation’s accountants prepared the following financial statements for year-end 2019: (Do not round intermediate calculations.)...
Ritter Corporation’s accountants prepared the following
financial statements for year-end 2019: (Do not round
intermediate calculations.)
RITTER CORPORATION
Income Statement
2019
Revenue
$
920
Expenses
650
Depreciation
107
Net income
$
163
Dividends
$
143
RITTER CORPORATION
Balance Sheets
December 31
2018
2019
Assets
Cash
$
72
$
99
Other current assets
182
204
Net fixed assets
387
407
Total assets
$
641
$
710
Liabilities and Equity
Accounts payable
$
132
$
159
Long-term debt
157
179...
Ritter Corporation’s accountants prepared the following financial statements for year-end 2019: (Do not round intermediate calculations.)...
Ritter Corporation’s accountants prepared the following
financial statements for year-end 2019: (Do not round intermediate
calculations.) RITTER CORPORATION Income Statement 2019 Revenue $
760 Expenses 570 Depreciation 91 Net income $ 99 Dividends $ 79
RITTER CORPORATION Balance Sheets December 31 2018 2019 Assets
Cash $ 56 $ 67 Other current assets 166 172 Net fixed assets 371
391 Total assets $ 593 $ 630 Liabilities and Equity Accounts
payable $ 116 $ 127 Long-term debt 141 147 Stockholders’ equity...
Ritter Corporation’s accountants prepared the following financial statements for year-end 2019: (Do not round intermediate calculations.)...
Ritter Corporation’s accountants prepared the following
financial statements for year-end 2019: (Do not round intermediate
calculations.) RITTER CORPORATION Income Statement 2019 Revenue $
760 Expenses 570 Depreciation 91 Net income $ 99 Dividends $ 79
RITTER CORPORATION Balance Sheets December 31 2018 2019 Assets Cash
$ 56 $ 67 Other current assets 166 172 Net fixed assets 371 391
Total assets $ 593 $ 630 Liabilities and Equity Accounts payable $
116 $ 127 Long-term debt 141 147 Stockholders’ equity...
Consider the following abbreviated financial statements for Weston Enterprises: (Do not round intermediate calculations.) WESTON...
Consider the following abbreviated financial statements for
Weston Enterprises: (Do not round intermediate
calculations.)
WESTON ENTERPRISES
2011 and 2012 Partial Balance Sheets
Assets
Liabilities and Owners’ Equity
2011
2012
2011
2012
Current assets
$
940
$
996
Current liabilities
$
380
$
401
Net fixed assets
3,987
4,588
Long-term debt
2,025
2,182
WESTON ENTERPRISES
2012 Income Statement
Sales
$
12,055
Costs
5,815
Depreciation
1,060
Interest paid
180
a.
What is owners' equity for 2011 and 2012?
...
For each of the following, compute the future value: (Do not round intermediate calculations and round...
For each of the following, compute the future value: (Do
not round intermediate calculations and round your answers to 2
decimal places, e.g., 32.16.)
Present Value
Years
Interest Rate
Future Value
$
2,450
10
13
%
$
9,853
23
8
103,305
17
6
241,382
33
4
For each of the following, compute the present value: (Do not round intermediate calculations and round...
For each of the following, compute the present value:
(Do not round intermediate calculations and round your
answers to 2 decimal places, e.g., 32.16.)
Present Value
Years
Interest Rate
Future Value
$
11
5
%
$
17,828
3
10
42,017
15
13
795,382
20
12
652,816
For each of the following, compute the future value: (Do not round intermediate calculations and round...
For each of the following, compute the future value: (Do
not round intermediate calculations and round your answers to 2
decimal places, e.g., 32.16.)
Present Value
Years
Interest Rate
Future
Value
$
1,850
11
13
%
$
7,952
7
9
68,355
14
12
175,796
8
6
Find the following values. Compounding/discounting occursannually. Do not round intermediate calculations. Round youranswers to...
Find the following values. Compounding/discounting occurs
annually. Do not round intermediate calculations. Round your
answers to the nearest cent.a. An initial $600 compounded for 10 years at 3%.b.An initial $600 compounded for 10 years at 6%.c. The present value of $600 due in 10 years at 3%.d. The present value of $1,125 due in 10 years at 6% and 3%.
Complete the following using present value. (Use the Tableprovided.) (Do not round intermediate calculations. Round...
Complete the following using present value. (Use the Table
provided.) (Do not round intermediate calculations. Round
the "PV factor" to 4 decimal places and final answer to the nearest
cent.)Amount desired at end of periodLength of timeRateCompoundedOn PV Table 12.3PV factor usedPV of amount desired at end of periodPeriod usedRate used$18,1005 years24%Quarterly%$
The following selected transactions are from Ohlm Company: (Do not round intermediate calculations and round your...
The following selected
transactions are from Ohlm Company: (Do not round
intermediate calculations and round your final answers to nearest
whole number. Use 360 days a year.)
2015
Dec.
16
Accepted a $12,400,
60-day, 9% note dated this day in granting Danny Todd a time
extension on his past-due account receivable.
31
Made an adjusting
entry to record the accrued interest on the Todd note.
2016
Feb.
14
Received Todd’s
payment of principal and interest on the note dated December...
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