Comparative financial statements for Oriole and Cheyenne Ltd. are shown below.

Additional information:

(a)

Calculate all possible liquidity, solvency, and profitability ratios for 2021 and 2020. (Round answers for Collection period, Days sales in inventory, Operating cycle and Free cash flow to 0 decimal places, e.g. 125. Round answer for Earnings per share to 2 decimal places, e.g. 12.50. Round all other answers to 1 decimal place, e.g. 12.5 or 12.5%. Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Exercise 3-9 (Algo) Balance sheet preparation [LO3-2, 3-3]

The following is the balance sheet of Korver Supply Company at December 31, 2020 (prior year).

Transactions during 2021 (current year) were as follows:

Additional Information:

The notes payable are dated June 30, 2020, and are due on June 30, 2022. Interest at 10% is payable annually on June 30. Depreciation on the furniture and fixtures for 2021 is $27,000. The furniture and fixtures originally cost $370,000.

Required:
Prepare a classified balance sheet at December 31, 2021, by updating ending balances from 2020 for transactions during 2021 and the additional information. The cost of furniture and fixtures and their accumulated depreciation are shown separately. (Amounts to be deducted should be indicated by a minus sign.)

Exercise 3-9 (Algo) Balance sheet preparation [LO3-2, 3-3]

The following is the balance sheet of Korver Supply Company at December 31, 2020 (prior year).

Transactions during 2021 (current year) were as follows:

Additional Information:

The notes payable are dated June 30, 2020, and are due on June 30, 2022. Interest at 10% is payable annually on June 30. Depreciation on the furniture and fixtures for 2021 is $27,000. The furniture and fixtures originally cost $370,000.

Required:
Prepare a classified balance sheet at December 31, 2021, by updating ending balances from 2020 for transactions during 2021 and the additional information. The cost of furniture and fixtures and their accumulated depreciation are shown separately. (Amounts to be deducted should be indicated by a minus sign.)

Problem Solving: Please answer the following problems showing your solutions, Double Rule and Encircle Final Answers. This must be done thru your handwriting placed in a Bond Paper. THANKYOU!!!

1. On July 1, 2019 J Corp acquired a machinery worth Php 2,500,000 from D Co. Term of the contract calls for a downpayment of Php 500,000 and signing a 2 year 10% note payable for the balance. Interest is payable quarterly. The existing loan agreement does not carry a provision to refinance. During September, J Corp was experiencing financial difficulty due to COVID-19 and was unable to pay the periodic interest. a. What amount of current liability should J Corp report in its December 31, 2019 balance sheet assuming D Co. agreed at balance sheet date not to demand payment as a consequence of the breach? b. What amount of current liability should J Corp report in its December 31, 2019 balance sheet assuming D Co. agreed to provide a grace period ending at least twelve months to rectify the breach?

2. A truck owned and operated by B Company was involved in an accident with an auto driven by Julia on January 12, 2019. B Company received notice on April 24, 2019 of a lawsuit for Php 800,000 damages for a personal injury suffered by Julia. B Company counsel believes it is reasonably possible that Julia will be successful against the company for an estimated amount in the range between Php 100,000 and Php 400,000. No amount within this range is a better estimate of potential damages than any other amount. It is expected that the lawsuit will be adjudicated in the latter part of 2020. What amount of loss should B Company accrue at December 31, 2019?

3. In November and December of 2020, adventure Company received Php 792,000 for 1,000, 3 year subscriptions at Php 264 per issue per year, starting with the January 2006 issue. adventure elected to include the Php 792,000 in its 2020 income statement for tax purposes. What amount should advneture report in its 2020 balance sheet as unearned subscription revenue?

4. In November and December 2020, Sweet Company, a newly organized magazine publisher, received Php 72,000 for 1,000 three year subscriptions at Php 24,000 per year, starting with the November 2020 issue of the magazine. Sweet elected to include the entire Php 72,000 in its 2020 income tax return. How much should Sweet report in its 2020 balance sheet as unearned subscriptions?

5. During 2019, S Company sold 500,000 boxes of hotcakes under a new sales promotional program. Each box contains one coupon, which when submitted with Php 16, entitles the customer to a baking pan. S Company pays Php 20 per pan and Php 2 handling and shipping. S Company estimates that 80% of the coupons will be redeemed, even though only 300,000 coupons had been processed during 2019. What amount should S Company report as liability for unredeemed coupons at December 31, 2019?

Suppose the demand curve for a product is vertical and the supply curve is upward sloping. If a unit tax is imposed in the market for this​ product, A. buyers bear the entire burden of the tax. B. buyers share the burden of the tax with government. C. the tax burden will be shared equally between buyers and sellers. D. sellers bear the entire burden of the tax.

Explain how a​ downward-sloping demand curve results from consumers adjusting their consumption choices to changes in price. A. When the price of a good rises​, the budget constraint shifts​ outward, leading consumers to buy less of that good. B. When the price of a good rises​, the marginal rate of substitution​ changes, leading consumers to buy less of that good. C. When the price of a good​ rises, this causes a negative income effect that is larger in absolute value than a corresponding positive substitution​ effect, leading consumers to buy less of that good. D. When the price of a good declines​, the ratio of the marginal utility to price rises​, leading consumers to buy more of that good. E.

When the price of a good​ declines, this causes positive substitution and income​ effects, leading consumers to buy more of that good. What is the difference between technology and technological​ change? A. Technology is when a firm is able to produce the same output using fewer ​inputs, while technological change is the process of using inputs to make output. B. Technology is the development of new​ products, while technological change is when a firm is able to produce the same output with fewer inputs. C. Technology is the process of using inputs to make​ output, while technological change is when a firm is able to produce more output using more inputs. D. Technology is the process of using inputs to make​ output, while technological change is when a firm is able to produce the same output using fewer inputs. E. Technology is the development of new​ products, while technological change is when a firm is able to produce more output with the same inputs.

A country that imports a substantial amount of gasoline every year imposed a​ $1.2 per gallon excise tax on​ gasoline, to be paid by sellers. The equilibrium price of gasoline prior to the tax was​ $4 per gallon. Gasoline being a necessary​ good, its demand curve is steep and the consumers had to bear the bulk of the tax burden. The​ post-tax price of gasoline went up to​ $5 per​ gallon, causing the​ country's media to claim that it was unfair that people should have to pay so high a price for such an important consumption item. They further believed that such a high tax was inefficient and could not be justified. Which of the following inferences can be drawn from this​ information? A. The sellers bear 1.2 percent of the entire tax burden. B. The consumers are bearing the entire burden of the tax. C. The burden on consumers would reduce if the tax was imposed on​ them, rather than the sellers. D. The sellers of gasoline now receive 20 cents less than the​ pre-tax price. E.

The deadweight loss of the tax is very high. If total utility increases at a decreasing rate as a consumer consumes more​ coffee, then marginal utility must A. remains constant. B. be negative. C. increase also. D. decrease.

Tablet computers are rapidly becoming more mainstream and replacing traditional desktop and laptop computers with the first IPAD becoming available in 2010 and an assortment of Linux and Windows-based tablets following. How do you believe that tablet computers have changed or contributed to the ways Forensic Scientists have to think or function on a daily basis? Do you believe that tablet computers have made a Forensic Scientist's job easier or harder? Can you think of any other technologies that have become mainstream in the last 6 years that would have an impact on a Forensic Scientist's job responsibilities? Why?

The average starting salary of students who graduated from colleges of Business in 2009 was $48,800. A sample of 100 graduates of 2010 showed an average starting salary of $50,000. Assume the standard deviation of the population is known to be $7000. We want to determine whether or not there has been a significant increase in the starting salaries.

The shareholders' equity of Crystal Company includes the items shown below. The board of directors of Crystal declared cash dividends of $6.5 million, $10 million, and $45 million in each of its first 3 years of operation: 2009, 2010, and 2011, respectively.
Common stock, $1 par, 50,000,000 shares outstanding

Preferred stock, 7%, $100 par, 1,000,000 shares outstanding (cumulative)
Preferred stock, 6%, $100 par, 100,000 shares outstanding (non-cumulative)

Determine the amount of dividends distributed on preferred and common stock for each of the three years

show work

1. Table 3 (below) shows annual returns for the S&P 500 for the years 2000-2016:

Table 3: Annual Returns

Calculate:

1. The cumulative return over the 17 years;
2. The average annual return;
3. The standard deviation;
4. The Sharpe Ratio (assuming a risk free rate of 2.3% on average)