Comparative balance sheets for 2018 and 2017, a statement of
income for 2018, and additional information from the accounting
records of Red, Inc., are provided below.
|
RED, INC. Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions) |
|||||||
| 2018 | 2017 | ||||||
| Assets | |||||||
| Cash | $ | 25 | $ | 112 | |||
| Accounts receivable | 180 | 133 | |||||
| Prepaid insurance | 8 | 4 | |||||
| Inventory | 287 | 176 | |||||
| Buildings and equipment | 402 | 351 | |||||
| Less: Accumulated depreciation | (120 | ) | (241 | ) | |||
| $ | 782 | $ | 535 | ||||
| Liabilities | |||||||
| Accounts payable | $ | 88 | $ | 102 | |||
| Accrued expenses payable | 7 | 13 | |||||
| Notes payable | 51 | 0 | |||||
| Bonds payable | 161 | 0 | |||||
| Shareholders’ Equity | |||||||
| Common stock | 401 | 401 | |||||
| Retained earnings | 74 | 19 | |||||
| $ | 782 | $ | 535 | ||||
|
RED, INC. Statement of Income For Year Ended December 31, 2018 |
||||||
| ($ in millions) | ||||||
| Revenues | ||||||
| Sales revenue | $ | 2,010 | ||||
| Expenses | ||||||
| Cost of goods sold | $ | 1,414 | ||||
| Depreciation expense | 41 | |||||
| Operating expenses | 449 | 1,904 | ||||
| Net income | $ | 106 | ||||
Additional information from the accounting
records:
Required:
Prepare the statement of cash flows of Red, Inc. using the indirect
method to report operating activities. (Amounts to be
deducted should be indicated with a minus sign. Enter your answers
in millions (i.e., 10,000,000 should be entered as
10).)
In: Accounting
Comparative balance sheets for 2021 and 2020, a statement of
income for 2021, and additional information from the accounting
records of Red, Inc., are provided below.
| RED, INC. Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) |
|||||||
| 2021 | 2020 | ||||||
| Assets | |||||||
| Cash | $ | 28 | $ | 114 | |||
| Accounts receivable | 184 | 136 | |||||
| Prepaid insurance | 13 | 8 | |||||
| Inventory | 250 | 179 | |||||
| Buildings and equipment | 451 | 354 | |||||
| Less: Accumulated depreciation | (123 | ) | (244 | ) | |||
| $ | 803 | $ | 547 | ||||
| Liabilities | |||||||
| Accounts payable | $ | 93 | $ | 108 | |||
| Accrued liabilities | 12 | 18 | |||||
| Notes payable | 54 | 0 | |||||
| Bonds payable | 172 | 0 | |||||
| Shareholders’ Equity | |||||||
| Common stock | 404 | 404 | |||||
| Retained earnings | 68 | 17 | |||||
| $ | 803 | $ | 547 | ||||
| RED, INC. Statement of Income For Year Ended December 31, 2021 |
||||||
| ($ in millions) | ||||||
| Revenues | ||||||
| Sales revenue | $ | 2,020 | ||||
| Expenses | ||||||
| Cost of goods sold | $ | 1,414 | ||||
| Depreciation expense | 41 | |||||
| Operating expenses | 460 | 1,915 | ||||
| Net income | $ | 105 | ||||
Additional information from the accounting
records:
Required:
Prepare the statement of cash flows of Red, Inc., using the direct
method to report operating activities. (Enter your answers
in millions (i.e., 10,000,000 should be entered as 10). Amounts to
be deducted should be indicated with a minus
sign.)
In: Accounting
Comparative balance sheets for 2018 and 2017, a statement of
income for 2018, and additional information from the accounting
records of Red, Inc., are provided below.
|
RED, INC. Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions) |
|||||||
| 2018 | 2017 | ||||||
| Assets | |||||||
| Cash | $ | 24 | $ | 110 | |||
| Accounts receivable | 178 | 132 | |||||
| Prepaid insurance | 7 | 3 | |||||
| Inventory | 285 | 175 | |||||
| Buildings and equipment | 400 | 350 | |||||
| Less: Accumulated depreciation | (119 | ) | (240 | ) | |||
| $ | 775 | $ | 530 | ||||
| Liabilities | |||||||
| Accounts payable | $ | 87 | $ | 100 | |||
| Accrued expenses payable | 6 | 11 | |||||
| Notes payable | 50 | 0 | |||||
| Bonds payable | 160 | 0 | |||||
| Shareholders’ Equity | |||||||
| Common stock | 400 | 400 | |||||
| Retained earnings | 72 | 19 | |||||
| $ | 775 | $ | 530 | ||||
|
RED, INC. Statement of Income For Year Ended December 31, 2018 |
||||||
| ($ in millions) | ||||||
| Revenues | ||||||
| Sales revenue | $ | 2,000 | ||||
| Expenses | ||||||
| Cost of goods sold | $ | 1,400 | ||||
| Depreciation expense | 50 | |||||
| Operating expenses | 447 | 1,897 | ||||
| Net income | $ | 103 | ||||
Additional information from the accounting
records:
Required:
Prepare the statement of cash flows of Red, Inc., using the direct
method to report operating activities. (Enter your answers
in millions (i.e., 10,000,000 should be entered as 10). Amounts to
be deducted should be indicated with a minus sign.)
In: Accounting
Comparative balance sheets for 2018 and 2017, a statement of
income for 2018, and additional information from the accounting
records of Red, Inc., are provided below.
|
RED, INC. Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions) |
|||||||
| 2018 | 2017 | ||||||
| Assets | |||||||
| Cash | $ | 43 | $ | 138 | |||
| Accounts receivable | 196 | 151 | |||||
| Prepaid insurance | 9 | 4 | |||||
| Inventory | 302 | 194 | |||||
| Buildings and equipment | 438 | 369 | |||||
| Less: Accumulated depreciation | (138 | ) | (259 | ) | |||
| $ | 850 | $ | 597 | ||||
| Liabilities | |||||||
| Accounts payable | $ | 106 | $ | 138 | |||
| Accrued expenses payable | 8 | 15 | |||||
| Notes payable | 69 | 0 | |||||
| Bonds payable | 154 | 0 | |||||
| Shareholders’ Equity | |||||||
| Common stock | 419 | 419 | |||||
| Retained earnings | 94 | 25 | |||||
| $ | 850 | $ | 597 | ||||
|
RED, INC. Statement of Income For Year Ended December 31, 2018 |
||||||
| ($ in millions) | ||||||
| Revenues | ||||||
| Sales revenue | $ | 2,190 | ||||
| Expenses | ||||||
| Cost of goods sold | $ | 1,471 | ||||
| Depreciation expense | 41 | |||||
| Operating expenses | 540 | 2,052 | ||||
| Net income | $ | 138 | ||||
Additional information from the accounting
records:
a.During 2018, $249 million of equipment was purchased to replace $180 million of equipment (90% depreciated) sold at book value.
b. In order to maintain the usual policy of paying cash dividends of $69 million, it was necessary for Red to borrow $69 million from its bank.
Required:
Prepare the statement of cash flows of Red, Inc., using the direct
method to report operating activities. (Enter your answers
in millions (i.e., 10,000,000 should be entered as 10). Amounts to
be deducted should be indicated with a minus
sign.)
In: Accounting
Comparative balance sheets for 2018 and 2017, a statement of
income for 2018, and additional information from the accounting
records of Red, Inc., are provided below.
| RED, INC. Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions) |
|||||||
| 2018 | 2017 | ||||||
| Assets | |||||||
| Cash | $ | 42 | $ | 138 | |||
| Accounts receivable | 194 | 150 | |||||
| Prepaid insurance | 14 | 8 | |||||
| Inventory | 300 | 193 | |||||
| Buildings and equipment | 436 | 368 | |||||
| Less: Accumulated depreciation | (137 | ) | (258 | ) | |||
| $ | 849 | $ | 599 | ||||
| Liabilities | |||||||
| Accounts payable | $ | 105 | $ | 136 | |||
| Accrued expenses payable | 13 | 21 | |||||
| Notes payable | 68 | 0 | |||||
| Bonds payable | 144 | 0 | |||||
| Shareholders’ Equity | |||||||
| Common stock | 418 | 418 | |||||
| Retained earnings | 101 | 24 | |||||
| $ | 849 | $ | 599 | ||||
| RED, INC. Statement of Income For Year Ended December 31, 2018 |
||||||
| ($ in millions) | ||||||
| Revenues | ||||||
| Sales revenue | $ | 2,180 | ||||
| Expenses | ||||||
| Cost of goods sold | $ | 1,468 | ||||
| Depreciation expense | 41 | |||||
| Operating expenses | 526 | 2,035 | ||||
| Net income | $ | 145 | ||||
Additional information from the accounting
records:
During 2018, $248 million of equipment was purchased to replace $180 million of equipment (90% depreciated) sold at book value.
In order to maintain the usual policy of paying cash dividends of $68 million, it was necessary for Red to borrow $68 million from its bank.
Required:
Prepare the statement of cash flows of Red, Inc., using the direct
method to report operating activities. (Enter your answers in
millions (i.e., 10,000,000 should be entered as 10). Amounts to be
deducted should be indicated with a minus sign.)
In: Accounting
For this discussion question you are gong to pick a tax that you or someone you know has to pay and do a little research to determine where that tax goes and what it pays for. You can choose any federal, state or local tax (although state or local taxes may be easier). Once you've picked a tax, make a post below and answer the following questions:
What is the tax you picked?
What type of tax is it? (e.g. excise, percentage, etc.)
Why does this tax exist and where does the tax revenue go? What does the tax fund? (for this one you might have to do a little research)
Based on what the tax funds, do you think it is a tax we should have? (i.e. do you think the tax revenue should go where it does? somewhere else? should the tax be abolished? etc)
NOTE: In your post please include links to any sources where you found information about the tax you are looking at (county web pages, etc.)
In: Economics
Consider the data.
|
xi |
2 | 6 | 9 | 13 | 20 |
|---|---|---|---|---|---|
|
yi |
7 | 19 | 8 | 24 | 22 |
(a)
What is the value of the standard error of the estimate? (Round your answer to three decimal places.)
(b)
Test for a significant relationship by using the t test. Use α = 0.05.
State the null and alternative hypotheses.
H0: β1 ≠ 0
Ha: β1 = 0
H0: β1 ≥ 0
Ha: β1 <
0
H0: β1 = 0
Ha: β1 ≠ 0
H0: β0 = 0
Ha: β0 ≠ 0
H0: β0 ≠ 0
Ha: β0 = 0
Find the value of the test statistic. (Round your answer to three decimal places.)
Find the p-value. (Round your answer to four decimal places.)
p-value =
State your conclusion.
Do not reject H0. We conclude that the relationship between x and y is significant.
Reject H0. We cannot conclude that the relationship between x and y is significant.
Reject H0. We conclude that the relationship between x and y is significant.
Do not reject H0. We cannot conclude that the relationship between x and y is significant.
(c)
Use the F test to test for a significant relationship. Use α = 0.05.
State the null and alternative hypotheses.
H0: β0 = 0
Ha: β0 ≠ 0
H0: β1 = 0
Ha: β1 ≠
0
H0: β0 ≠ 0
Ha: β0 = 0
H0: β1 ≠ 0
Ha: β1 = 0
H0: β1 ≥ 0
Ha: β1 < 0
Find the value of the test statistic. (Round your answer to two decimal places.)
Find the p-value. (Round your answer to three decimal places.)
p-value =
What is your conclusion?
Reject H0. We conclude that the relationship between x and y is significant.
Do not reject H0. We conclude that the relationship between x and y is significant.
Do not reject H0. We cannot conclude that the relationship between x and y is significant.
Reject H0. We cannot conclude that the relationship between x and y is significant.
In: Statistics and Probability
Consider the data.
|
xi |
2 | 6 | 9 | 13 | 20 |
|---|---|---|---|---|---|
|
yi |
7 | 17 | 10 | 28 | 24 |
(a)
What is the value of the standard error of the estimate? (Round your answer to three decimal places.)
_________
(b)
Test for a significant relationship by using the t test. Use α = 0.05.
State the null and alternative hypotheses.
H0: β0 = 0
Ha: β0 ≠ 0
H0: β1 = 0
Ha: β1 ≠
0
H0: β0 ≠ 0
Ha: β0 = 0
H0: β1 ≠ 0
Ha: β1 = 0
H0: β1 ≥ 0
Ha: β1 < 0
Find the value of the test statistic. (Round your answer to three decimal places.)
_______
Find the p-value. (Round your answer to four decimal places.)
p-value = _______
State your conclusion.
Reject H0. We conclude that the relationship between x and y is significant.
Do not reject H0. We conclude that the relationship between x and y is significant.
Do not reject H0. We cannot conclude that the relationship between x and y is significant.
Reject H0. We cannot conclude that the relationship between x and y is significant.
(c)
Use the F test to test for a significant relationship. Use α = 0.05.
State the null and alternative hypotheses.
H0: β0 = 0
Ha: β0 ≠ 0
H0: β1 = 0
Ha: β1 ≠
0
H0: β1 ≠ 0
Ha: β1 = 0
H0: β1 ≥ 0
Ha: β1 < 0
H0: β0 ≠ 0
Ha: β0 = 0
Find the value of the test statistic. (Round your answer to two decimal places.)
_______
Find the p-value. (Round your answer to three decimal places.)
p-value = _______
What is your conclusion?
Do not reject H0. We cannot conclude that the relationship between x and y is significant.
Reject H0. We cannot conclude that the relationship between x and y is significant.
Do not reject H0. We conclude that the relationship between x and y is significant.
Reject H0. We conclude that the relationship between x and y is significant.
In: Statistics and Probability
A) If you want to increase the capacitance by changing the shape and size of the capacitor, how would you do that?
B) If you want to increase the capacitance but NOT change the shape and size how could you do it? Explain in some detail why your idea will increase the capacitance.
C) You connect a 4 microfarad capacitor to a 10 volts battery. You then disconnect this capacitor from the battery. You then connect this 4 microfarad capacitor to an uncharged second capacitor. When you measure the voltage across the 4 microfarad capacitor it has dropped to 7.7 Volts. What’s the capacitance of the second capacitor?
In: Physics
Under the loanable funds theory, the equilibrium interest rate is determined by the interaction between the demand for and the supply of funds from financial market participants, mainly the household sector, the business sector and the government sector.
Holding other factors constant, predict the change in domestic
interest rates that would occur when facing each of the following
situations. Explain your predictions in detail.
i The total wealth of local financial market participants
increases.
ii The default risk of loans decreases.
iii Domestic economic growth is thriving.
iv Economic conditions in foreign countries improve.
In: Economics