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In: Finance
Using the following information from Co. XYZ Inc. determine Cash $ 50,000 Accounts Receivables $ 42,700...
Using the following information from Co. XYZ Inc. determine Cash $ 50,000 Accounts Receivables $ 42,700 Accounts payable $ 23,000 Notes payable $ 10,500 Inventories $ 40,000 Gross fixed assets $ 1,280,000 Other current assets $ 5,000 long term debt $ 200,000 Common Stock $ 490,000 Other assets $ 15,000 Accumulated depreciation $ 312,000 Retained earnings? ??????
a.Net Working capital of XYZ
b. The Net Operating Working Capital (NOWC)
Solutions
jeff jeffy answered 2 years agoRelated Solutions
The following information is taken from the records of XYZ Company: Cash $10,000 Accounts receivables 30,000...
The following information is taken from the records of XYZ
Company: Cash $10,000 Accounts receivables 30,000 Inventory 80,000
Prepaid insurance 6,000 Fixed assets 200,000 Accounts payable
30,000 Notes payable (due in 10 months) 25,000 Wages payable 5,000
Long term liabilities 70,000 Owners’ equity 196,000 The company had
sales of $150,000, cost of good sold of 60,000 and a net income of
25,000
MCQ
8-The company’s assets turnover is: A) 1 times B) 0.75 times C)
0.5 times
9. The company’s...
Specter Co. combines cash and cash equivalents on the balance sheet. Using the following information, determine...
Specter Co. combines cash and cash equivalents on the balance
sheet. Using the following information, determine the amount
reported on the year-end balance sheet for cash and cash
equivalents.
$7,000 cash deposit in checking account.
$28,000 bond investment due in 20 years.
$7,000 U.S. Treasury bill due in 1 month.
$400, 3-year loan to an employee.
$1,800 of currency and coins.
$700 of accounts receivable.
Checking account:
Bond investment:
U.S. Treasury bill:
Loan to an employee:
Currency and coins:
Accounts...
Cash $ 10,000 Accounts payable $ 30,000 Receivables 50,000 Notes payable 20,000 Inventories 150,000 Total current liabilities $ 50,000...
Cash
$ 10,000
Accounts payable
$ 30,000
Receivables
50,000
Notes payable
20,000
Inventories
150,000
Total current liabilities
$ 50,000
Total current assets
$ 210,000
Long-term debt
50,000
Net Fixed assets
90,000
Common equity
200,000
Total assets
$ 300,000
Total liabilities and equity
$ 300,000
Net Sales
200,000
Net income
15,000
Lloyd Inc. Has sales of $200,000, a net income of $15,000
(balance sheet posted above). The new owner thinks that inventories
are excessive and can be lowered to the point where the current...
A simple random sample of 50 accounts is taken from an account receivables portfolio of XYZ...
A simple random sample of 50 accounts is taken from an account
receivables portfolio of XYZ Ltd and the average account balance is
$650. The population standard deviation σ is known to be $70.
(6 points)
Test the hypothesis that the population mean account balance is
greater
than $620 using the p-value approach
and a 0.05 level of significance.
Test the hypothesis that the population mean account balance is
less than
$800 using the critical value
approach and a 0.05...
A simple random sample of 50 accounts is taken from an account receivables portfolio of XYZ...
A simple random sample of 50 accounts is taken from an account
receivables portfolio of XYZ Ltd and the average account balance is
$650. The population standard deviation σ is known to be $70.
a. Test the hypothesis that the population mean account
balance is greater than $620 using the p-value approach and a 0.05
level of significance.
b. Test the hypothesis that the population mean account
balance is less than $800 using the critical value approach and a
0.05...
A simple random sample of 50 accounts is taken from an account receivables portfolio of XYZ...
A simple random sample of 50 accounts is taken from an account
receivables portfolio of XYZ Ltd and the average account balance is
$650. The population standard deviation o is known to be $70. Test the hypothesis that the population mean account balance
is greater than a. $620 using the p-value approach and a 0.05 level
of significance. b. Test the hypothesis that the population mean
account balance is less than $800 using the critical value approach
and a 0.05...
Using the following information to prepare a bank reconciliation for XYZ Co. for May 31: (a)...
Using the following information to prepare a bank reconciliation
for XYZ Co. for May 31:
(a)
The bank statement balance is $3,936.
(b)
The cash account balance is $4,194.
(c)
Outstanding checks amounted to $465.
(d)
Deposits in transit are $655.
(e)
The bank service charge is $50.
(f)
A check for $97 for supplies was recorded as $79 in the
ledger.
Determine the amount of long-term debt for ABC Co. using the following balance sheet information: cash...
Determine the amount of long-term debt for ABC Co. using the
following balance sheet information: cash balance of $24,723,
accounts payable of $95,591, common stock of $401,194, retained
earnings of $500,129, inventory of $204,960, other assets equal to
$76,133, net plant and equipment of $707,654, short-term notes
payable of $30,000, and accounts receivable of $142,312.
below is information from XYZ Inc. as of june 30, 2017. 1.) Cash on the books...
below is information from XYZ Inc. as of june 30, 2017.
1.) Cash on the books as of June 30 is $42,754.16. cash on the
bank statement for the same day is $52,351.46.
2) A deposit of $5220.94 did not appear on the bank
statement.
3.) outstanding checks totaled $3936.80.
4.) A check for $1920 returned with the statement was recorded
incorrectly in the check register as $1380. The check was for cash
purchase of merchandise inventory.
5.) The bank...
McClane, Inc. provided the following aging of its receivables at December 31. Age of Accounts Receivables...
McClane, Inc. provided the following aging of its receivables at
December 31.
Age of Accounts
Receivables Balance
Estimated
% Uncollectible
0-30 days
$420,000
0.5%
31 to 60 days
200,000
5.2%
61 to 90 days
75,000
10.3%
91 to 120 days
35,000
21.5%
Over 121 days
15,000
75.2%
Total
$745,000
During the year, $22,500 of receivables were written off. The
balance at the beginning of the year in the allowance account was a
credit of $25,000.
How much will McClane...
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