Question
In: Accounting
2017 2018 Accounts payable 800 740 Accounts receivable, net 1,850 2,150 Accruals 70 160 Cash ???...
|
2017 |
2018 |
||
|
Accounts payable |
800 |
740 |
|
|
Accounts receivable, net |
1,850 |
2,150 |
|
|
Accruals |
70 |
160 |
|
|
Cash |
??? |
??? |
|
|
Capital surplus |
1,250 |
1,360 |
|
|
Common stock |
1,020 |
1,210 |
|
|
Cost of goods sold |
7,340 |
7,580 |
|
|
Depreciation expense |
1,610 |
1,720 |
|
|
Interest expense |
220 |
190 |
|
|
Inventory (end of year) |
5,360 |
5,240 |
|
|
Long-term debt |
6,310 |
6,450 |
|
|
Net fixed assets |
8,240 |
9,120 |
|
|
Net sales |
12,850 |
13,950 |
|
|
Notes payable |
840 |
750 |
|
|
Operating expenses (excluding depreciation) |
2,240 |
2,430 |
|
|
Retained earnings |
8,300 |
8,460 |
|
|
Taxes |
340 |
450 |
-
This company’s operating profit margin (as a percent rounded to 1 decimal place) in 2017 was ________.
-
The total asset turnover ratio for this company in 2017 = _______.
-
ROE for 2018 is _____%.
-
Cash flow from operating activities in 2018 is $ _______.
-
Cash flow from investing activities in 2018 is $ _________.
-
Cash flow from financing activities in 2018 is $ _________.
Solutions
Expert Solution
| 2017 | 2018 | ||
| Net sales | $ 12,850.00 | $ 13,950.00 | |
| Cost of goods sold | $ 7,340.00 | $ 7,580.00 | |
| Gross Profit | $ 5,510.00 | $ 6,370.00 | |
| Depreciation expense | $ 1,610.00 | $ 1,720.00 | |
| Operating expenses (excluding depreciation) | $ 2,240.00 | $ 2,430.00 | |
| Operating Income | $ 1,660.00 | $ 2,220.00 | |
| Interest expense | $ 220.00 | $ 190.00 | |
| Income before tax | $ 1,440.00 | $ 2,030.00 | |
| Taxes | $ 340.00 | $ 450.00 | |
| Net Income | $ 1,100.00 | $ 1,580.00 |
Operating Profit Margin 2017 = Operating Profit / Sales x 100
= $1660 / $12850 x 100 = 12.92%
Asset turnover ratio for 2017 = Net Sales / Total Assets
= $12850 / $18590 = 0.69 times
Total Assets = Total liabilities + Total Equity = $8020 + $10570 =
$18590
| 2017 | 2018 | ||
| Liabilities | |||
| Accounts payable | $ 800.00 | $ 740.00 | |
| Accruals | $ 70.00 | $ 160.00 | |
| Long-term debt | $ 6,310.00 | $ 6,450.00 | |
| Notes payable | $ 840.00 | $ 750.00 | |
| Total Liabilities | $ 8,020.00 | $ 8,100.00 | |
| Equity | |||
| Capital surplus | $ 1,250.00 | $ 1,360.00 | |
| Common stock | $ 1,020.00 | $ 1,210.00 | |
| Retained earnings | $ 8,300.00 | $ 8,460.00 | |
| Total Equity | $ 10,570.00 | $ 11,030.00 |
ROE 2018 = Net Income / Average Equity x 100
= $1580 / $10800 x 100 = 14.63%
Average Equity = ($10570+11030) / 2 = $10800
| Cash Flow Statement | |||
| Indirect Method | |||
| Cash Flow from Operating Activities | |||
| Net Income | $ 1,580.00 | ||
| Adjustments | |||
| Depreciation | $ 1,720.00 | ||
| Changes in Current Assets/ Current Liabilities | |||
| Increase in Accounts Receivable | $ -300.00 | ||
| Decrease in Inventory | $ 120.00 | ||
| Decrease in Accounts Payable | $ -60.00 | ||
| Decrease in Notes Payable | $ -90.00 | ||
| Increase in Accruals | $ 90.00 | ||
| Total Adjustments | $ 1,480.00 | ||
| Cash from Operating Activities | $ 3,060.00 | ||
| Cash flow from Investing Activities | |||
| Purchase of Equipment | $ -2,600.00 | ||
| Net cash used In investing activities | $ -2,600.00 | ||
| Cash flow from Financing Activities | |||
| Increase in Long term Debt | $ 140.00 | ||
| Net cash used in financing activities | $ 140.00 | ||
Notes Payable has been considered as Current Liabilities
ekkarill92 answered 2 years agoRelated Solutions
An Accounts Payable of balance of $-70 got posted to Accounts Receivable in amount of $70...
An Accounts Payable of balance of $-70 got posted to Accounts
Receivable in amount of $70 in error.
To reverse this out, do we credit is the journal entry- Credit -
AR 70 and Debit AP 70?
The oringinal amount was -70 in AP but it was a positive 70 in
AR.
Category 2014 2015 Accounts payable 16,200 ???? Accounts receivable 48,600 44,500 Accruals 24,300 16,200 Cash 81,000...
Category
2014
2015
Accounts payable
16,200
????
Accounts receivable
48,600
44,500
Accruals
24,300
16,200
Cash
81,000
98,000
Common Stock
64,800
81,000
COGS
56,700
64,800
Depreciation expense
0
4,300
Gross fixed assets
121,500
????
Interest expense
6,400
8,100
Inventories
40,500
60,800
Long-term debt
81,000
89,100
Net fixed assets
101,500
121,500
Notes payable
44,800
37,200
Operating expenses (excl. depr.)
12,100
16,200
Retained earnings
40,500
60,800
Sales
105,300
121,500
Taxes
4,860
6,480
Solve: Please show me the steps
The quick ratio in 2015...
Increase in accounts payable Increase in accruals Decrease in accounts receivable Increase in Inventory Increase in...
Increase in accounts payable
Increase in accruals
Decrease in accounts receivable
Increase in Inventory Increase in Property, Plant and
Equipment
Decrease in Long-term Debt
Increase in Net Income
A. Use of Cash
B. Source of Cash
The following data is given: December 31, 2018 2017 Cash $66,500 $49,500 Accounts receivable (net) 90,000...
The following data is given:
December 31, 2018 2017
Cash $66,500 $49,500
Accounts receivable (net) 90,000 59,000
Inventories 90,000 105,000
Plant assets (net) 382,500 324,000
Accounts payable 55,500 39,500
Salaries and wages payable 12,000 5,500
Bonds payable 68,500 72,000 8%
Preferred stock, $40 par 100,000 100,000
Common stock, $10 par 120,000 90,000
Paid-in capital in excess of par 75,000 70,000
Retained earnings 198,000 160,500
Net credit sales 995,000
Cost of goods sold 740,000
Net income 82,000
Compute the following ratios:...
Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750...
Category Prior Year Current Year
Accounts payable ??? ???
Accounts receivable 320,715 397,400
Accruals 40,500 33,750
Additional paid in capital 500,000 541,650
Cash 17,500 47,500
Common Stock 94,000 105,000
COGS 328,500 428,048.00
Current portion long-term debt 33,750 35,000
Depreciation expense 54,000 54,731.00
Interest expense 40,500 41,017.00
Inventories 279,000 288,000
Long-term debt 339,670.00 401,877.00
Net fixed assets 946,535 999,000
Notes payable 148,500 162,000
Operating expenses (excl. depr.) 126,000 161,905.00
Retained earnings 306,000 342,000
Sales 639,000 850,323.00
Taxes 24,750 48,686.00
What is...
Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750...
Category Prior Year Current Year
Accounts payable ??? ???
Accounts receivable 320,715 397,400
Accruals 40,500 33,750
Additional paid in capital 500,000 541,650
Cash 17,500 47,500
Common Stock 94,000 105,000
COGS 328,500 430,741.00
Current portion long-term debt 33,750 35,000
Depreciation expense 54,000 54,943.00
Interest expense 40,500 41,875.00
Inventories 279,000 288,000
Long-term debt 339,876.00 398,606.00
Net fixed assets 946,535 999,000
Notes payable 148,500 162,000
Operating expenses (excl. depr.) 126,000 162,524.00
Retained earnings 306,000 342,000
Sales 639,000 845,964.00
Taxes 24,750 47,204.00
What is...
Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750...
Category Prior Year Current Year
Accounts payable ??? ???
Accounts receivable 320,715 397,400
Accruals 40,500 33,750
Additional paid in capital 500,000 541,650
Cash 17,500 47,500
Common Stock 94,000 105,000
COGS 328,500 430,741.00
Current portion long-term debt 33,750 35,000
Depreciation expense 54,000 54,943.00
Interest expense 40,500 41,875.00
Inventories 279,000 288,000
Long-term debt 339,876.00 398,606.00
Net fixed assets 946,535 999,000
Notes payable 148,500 162,000
Operating expenses (excl. depr.) 126,000 162,524.00
Retained earnings 306,000 342,000
Sales 639,000 845,964.00
Taxes 24,750 47,204.00
What is...
Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750...
Category
Prior Year
Current Year
Accounts payable
???
???
Accounts receivable
320,715
397,400
Accruals
40,500
33,750
Additional paid in capital
500,000
541,650
Cash
17,500
47,500
Common Stock
94,000
105,000
COGS
328,500
428,545.00
Current portion long-term debt
33,750
35,000
Depreciation expense
54,000
55,690.00
Interest expense
40,500
42,213.00
Inventories
279,000
288,000
Long-term debt
338,956.00
400,900.00
Net fixed assets
946,535
999,000
Notes payable
148,500
162,000
Operating expenses (excl. depr.)
126,000
161,496.00
Retained earnings
306,000
342,000
Sales
639,000
852,779.00
Taxes
24,750
47,481.00
1. What...
With an explanation, please! Accounts payable 3,154.00 5,910.00 Accounts receivable 6,954.00 9,092.00 Accruals 5,609.00 6,027.00 Additional...
With an explanation, please!
Accounts payable
3,154.00
5,910.00
Accounts receivable
6,954.00
9,092.00
Accruals
5,609.00
6,027.00
Additional paid in capital
19,742.00
13,180.00
Cash
???
???
Common Stock
2,850
2,850
COGS
22,063.00
18,714.00
Current portion long-term debt
500
500
Depreciation expense
998.00
950.00
Interest expense
1,270.00
1,169.00
Inventories
3,060.00
6,731.00
Long-term debt
16,843.00
22,507.00
Net fixed assets
75,951.00
74,022.00
Notes payable
4,053.00
6,543.00
Operating expenses (excl. depr.)
19,950
20,000
Retained earnings
35,601.00
34,830.00
Sales
46,360
45,756.00
Taxes
350
920
What is the...
Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750...
Category
Prior Year
Current Year
Accounts payable
???
???
Accounts receivable
320,715
397,400
Accruals
40,500
33,750
Additional paid in capital
500,000
541,650
Cash
17,500
47,500
Common Stock
94,000
105,000
COGS
328,500
430,836.00
Current portion long-term debt
33,750
35,000
Depreciation expense
54,000
55,125.00
Interest expense
40,500
42,404.00
Inventories
279,000
288,000
Long-term debt
339,829.00
400,384.00
Net fixed assets
946,535
999,000
Notes payable
148,500
162,000
Operating expenses (excl. depr.)
126,000
162,228.00
Retained earnings
306,000
342,000
Sales
639,000
847,534.00
Taxes
24,750
47,130.00
what is...
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