Question
In: Finance
Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2017 and 2018 Partial...
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Consider the following abbreviated financial statements for Parrothead Enterprises: |
|
PARROTHEAD ENTERPRISES 2017 and 2018 Partial Balance Sheets |
||||||||||||||
| Assets | Liabilities and Owners’ Equity | |||||||||||||
| 2017 | 2018 | 2017 | 2018 | |||||||||||
| Current assets | $ | 1,290 | $ | 1,419 | Current liabilities | $ | 580 | $ | 625 | |||||
| Net fixed assets | 5,071 | 6,142 | Long-term debt | 2,782 | 2,963 | |||||||||
|
PARROTHEAD ENTERPRISES 2018 Income Statement |
||
| Sales | $ | 15,970 |
| Costs | 7,261 | |
| Depreciation | 1,447 | |
| Interest paid | 444 | |
| a. | What is owners' equity for 2017 and 2018? (Do not round intermediate calculations.) |
| b. | What is the change in net working capital for 2018? (Do not round intermediate calculations.) |
| c-1. | In 2018, Parrothead Enterprises purchased $2,664 in new fixed assets. How much in fixed assets did Parrothead Enterprises sell? (Do not round intermediate calculations.) |
| c-2. | In 2018, Parrothead Enterprises purchased $2,664 in new fixed assets. What is the cash flow from assets for the year? The tax rate is 22 percent. (Do not round intermediate calculations.) |
| d-1. | During 2018, Parrothead Enterprises raised $574 in new long-term debt. How much long-term debt must Parrothead Enterprises have paid off during the year? (Do not round intermediate calculations.) |
| d-2. | During 2018, Parrothead Enterprises raised $574 in new long-term debt. What is the cash flow to creditors? (Do not round intermediate calculations.) |
Solutions
jeff jeffy answered 1 year agoRelated Solutions
Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2017 and 2018 Partial...
Consider the following abbreviated financial statements for
Parrothead Enterprises:
PARROTHEAD ENTERPRISES
2017 and 2018 Partial Balance Sheets
Assets
Liabilities and Owners’ Equity
2017
2018
2017
2018
Current assets
$
1,308
$
1,443
Current liabilities
$
601
$
643
Net fixed assets
5,092
6,175
Long-term debt
2,815
2,999
PARROTHEAD ENTERPRISES
2018 Income Statement
Sales
$
16,114
Costs
7,288
Depreciation
1,465
Interest paid
456
a.
What is owners' equity for 2017 and 2018? (Do not round
intermediate calculations.)
b....
Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2017 and 2018 Partial...
Consider the following abbreviated financial statements for
Parrothead Enterprises:
PARROTHEAD ENTERPRISES
2017 and 2018 Partial Balance Sheets
Assets
Liabilities and Owners’ Equity
2017
2018
2017
2018
Current assets
$
1,272
$
1,395
Current liabilities
$
559
$
607
Net fixed assets
5,050
6,109
Long-term debt
2,749
2,927
PARROTHEAD ENTERPRISES
2018 Income Statement
Sales
$
15,826
Costs
7,234
Depreciation
1,429
Interest paid
432
a.
What is owners' equity for 2017 and 2018? (Do not round
intermediate calculations.)
b....
Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2017 and 2018 Partial...
Consider the following abbreviated financial statements for
Parrothead Enterprises:
PARROTHEAD ENTERPRISES
2017 and 2018 Partial Balance Sheets
Assets
Liabilities and Owners’ Equity
2017
2018
2017
2018
Current assets
$
1,302
$
1,435
Current liabilities
$
594
$
637
Net fixed assets
5,085
6,164
Long-term debt
2,804
2,987
PARROTHEAD ENTERPRISES
2018 Income Statement
Sales
$
16,066
Costs
7,279
Depreciation
1,459
Interest paid
452
a.
What is owners' equity for 2017 and 2018? (Do not round
intermediate calculations.)
b....
Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2017 and 2018 Partial...
Consider the following abbreviated financial statements for
Parrothead Enterprises:
PARROTHEAD ENTERPRISES
2017 and 2018 Partial Balance Sheets
Assets
Liabilities and Owners’ Equity
2017
2018
2017
2018
Current assets
$
1,266
$
1,387
Current liabilities
$
552
$
601
Net fixed assets
5,043
6,098
Long-term debt
2,738
2,915
PARROTHEAD ENTERPRISES
2018 Income Statement
Sales
$
15,778
Costs
7,225
Depreciation
1,423
Interest paid
428
a.
What is owners' equity for 2017 and 2018? (Do not round
intermediate calculations.)
b....
Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2017 and 2018 Partial...
Consider the following abbreviated financial statements for
Parrothead Enterprises:
PARROTHEAD ENTERPRISES
2017 and 2018 Partial Balance Sheets
Assets
Liabilities and Owners’ Equity
2017
2018
2017
2018
Current assets
$
1,248
$
1,363
Current liabilities
$
531
$
583
Net fixed assets
5,022
6,065
Long-term debt
2,705
2,879
PARROTHEAD ENTERPRISES
2018 Income Statement
Sales
$
15,634
Costs
7,198
Depreciation
1,405
Interest paid
416
a.
What is owners' equity for 2017 and 2018? (Do not round
intermediate calculations.)
b....
Consider the following abbreviated financial statements for Parrothead Enterprises: Parrothead Enterprises 2017 and 2018 Partial Balance...
Consider the following abbreviated financial statements for
Parrothead Enterprises:
Parrothead
Enterprises
2017 and 2018 Partial
Balance Sheet
Assets Liabilities
& Owners Equity
2017
2018
2017
2018
Current assets
$1230
$1339
Current liabilities
$510
$565
Net fixed assets
$5001
$6032
Long-term debt
$2672
$2843
Parrothead Enterprises
2018 Income Statement
Sales
15490
Costs
7171
Depreciation
1387
Interest paid
404
a.
What is owners' equity for 2017 and 2018? (Do not round
intermediate calculations.)
b.
What is the change in net working capital...
Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2014 and 2015 Partial...
Consider the following abbreviated financial statements for
Parrothead Enterprises:
PARROTHEAD ENTERPRISES
2014 and 2015 Partial Balance Sheets
Assets
Liabilities and Owners’ Equity
2014
2015
2014
2015
Current assets
$
950
$
1,016
Current liabilities
$
385
$
416
Net fixed
assets
3,967
4,608
Long-term debt
2,035
2,207
PARROTHEAD ENTERPRISES
2015 Income Statement
Sales
$
12,530
Costs
5,990
Depreciation
1,080
Interest paid
200
a.
What is owners' equity for 2014
and 2015? (Do not round intermediate
calculations.)
...
Consider the following abbreviated financial statements for Barrie Enterprises: BARRIE Enterprises 2017 and 2018 Partial Statement...
Consider the following abbreviated financial statements for
Barrie Enterprises:
BARRIE Enterprises
2017 and 2018 Partial Statement of Financial Position
Assets
Liabilities and Owner's Equity
2017
2018
2017
2018
Current assets
$
938
$
1,014
Current liabilities
$
377
$
413
Net fixed assets
4,007
4,776
Long-term debt
2,111
2,249
BARRIE Enterprises
2018 Statement of Comprehensive Income
Sales
$
12,800
Costs
5,509
Depreciation
1,153
Interest paid
318
a. What is owner's equity for 2017 and 2018? (Omit $ sign in
your...
Consider the following abbreviated financial statements for Barrie Enterprises: BARRIE Enterprises 2017 and 2018 Partial Statement...
Consider the following abbreviated financial statements for
Barrie Enterprises:
BARRIE Enterprises
2017 and 2018 Partial Statement of Financial Position
Assets
Liabilities and Owner's Equity
2017
2018
2017
2018
Current assets
$
914
$
990
Current liabilities
$
365
$
410
Net fixed assets
3,767
4,536
Long-term debt
1,991
2,117
BARRIE Enterprises
2018 Statement of Comprehensive Income
Sales
$
11,592
Costs
5,405
Depreciation
1,033
Interest paid
294
a. What is owner's equity for 2017 and 2018?
(Negative answer should be indicated...
Consider the following abbreviated financial statements for Weston Enterprises: WESTON ENTERPRISES 2018 and 2019 Partial Balance...
Consider the following abbreviated financial statements for
Weston Enterprises: WESTON ENTERPRISES 2018 and 2019 Partial
Balance Sheets Assets Liabilities and Owners’ Equity 2018 2019 2018
2019 Current assets $ 1,266 $ 1,387 Current liabilities $ 552 $ 601
Net fixed assets 5,043 6,098 Long-term debt 2,738 2,915 WESTON
ENTERPRISES 2019 Income Statement Sales $ 15,778 Costs 7,225
Depreciation 1,423 Interest paid 428 a. What is owners' equity for
2018 and 2019? (Do not round intermediate calculations.) b. What is
the...
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