A).What is the inventory for zooey corporation B).what is the notes payable for zooey corporation in 2020 C).what is the accounts receivable of zooey corporation in 2020
Q: Determine the labor burden for an employee given the information in Table below. Assume the employee...
A: Social security = 6.2% x$85000= $5270 FUTA= .6% of wages to 7000= .6% x 7000( since wages is $85000)...
Q: ..new D Bonita Leasing Company agrees to lease equipment to Windsor Corporation on January 1, 2020....
A: Calculation of Annual Rental = {(Fair value) - (residual value x PV of $1 10% for 7 years)} / PV of ...
Q: Show Auemnt HBlury Current Atlempt in Progress Selected transactions for Bonnie Donne Company during...
A: Journal entry: Journal entry records the financial transactions or events of business organizations ...
Q: For the current year,Vidalia Company reported revenues of $250,000 and expenses of $225,000. At the ...
A: As per accounting equation, total assets must be equal to total liabilities and total equity. After ...
Q: Identify the relevant transaction for this entry: Assets Owner’s equity Liabilities +R8000 +R80...
A: The Double entry book keeping of accounting says that there are two effects of any transactions. Thi...
Q: A company had the following transactions during the finst month of the year. Frepare an income slale...
A: Journal Entries - Journal Entries are recorded to enter transactions entered into by the company. Al...
Q: Assuming a December 31 fiscal year-end, prepare a depreciation schedule for the life of the asset us...
A: Depreciation is the expenses which falls under the non-cash expenses because there is no cash outflo...
Q: xercise Igo) alculate earned revenues g Blue University has a fiscal year that ends on June 30. The ...
A: The money created by a company's business is known as revenue. Revenue can be estimated in a variety...
Q: Explain the possible IFRS treatment of bank loans
A: Solution International financial reporting Standards (IFRS) are a set of accounting rules for the fi...
Q: Which of the following are assets? (Select all that apply.) O Land O Supplies Expense Wages Payable ...
A: Asset is an resource owned by an entity.It provides current,future and economic benefit to an entity...
Q: Louise has worked for Rocky for 8 years. Unfortunately, due to COVID-19 pandemic, Rocky is forced to...
A: The manner through which a particular activity or a transaction is taxable or is exempted from tax i...
Q: The following facts pertain to a non-cancelable lease agreement between Faldo Leasing Company and Cr...
A: Solution Working note - Present value of minimum lease payment = (Annual lease Payment *PVAD for 9% ...
Q: If current assets are $100,000 and current liabilities are $42,000, what is the working capital?A. 2...
A: Working capital is the amount of capital or money needed for day to day operations of the business. ...
Q: If a business is owned by three partners, how many drawings accounts are required on the books? Why...
A: If a business is owned by three partners, it is required to have separate drawing account for each p...
Q: At August 1 of the current year, there are 4,000 units at P15 each of merchandise inventory. During ...
A: Moving average method is used in inventory valuation, under this inventory is valued at each accepta...
Q: Explain four (4) strategy used in management accounting for achieve business goals
A: Management accounting is the process of preparing reports on business operations to assist managers ...
Q: he companative financal satements of Mara Inc. ane a follows. The markt prie of Marshal comman stock...
A: Financial Ratios- A financial ratio or accounting ratio is a relative scale of two selected mathemat...
Q: Using the following balance sheet and income statement data, what is the debt to assets ratio? Curre...
A: Total assets = $ 87000 Total Liabilities = $ 28600 Average common shares outstanding = 17000 shares ...
Q: In connection with your examination of the financial statements of Ringo, Inc. for the year ended De...
A:
Q: What does hard capital rationing mean? A Capital is limited at more than one point in time B Div...
A: Hard capital rationing arises when the corporation has trouble raising cash in the external equity m...
Q: Q1 From the following data calculate price index number for current year as 2021 a) Laspeyre's metho...
A: An index number seems to be a way of analyzing fluctuations in a variable or set of variables in ter...
Q: Input Cost/Block Direct materials 0.5 Ib. @ $12/lb. $ 6.00 Direct manufacturing labour 1.4 hours @ $...
A: Fixed overhead spending variance The calculation of fixed overhead spending variance is the actual f...
Q: Benny, Jenny and Kenny are partners in trading business. They participate in the profits and losses ...
A: Liquidation in the partnership accounting is refers to the closing the partnership firm and distribu...
Q: In connection with your examination of the financial statements of Ringo, Inc. for the year ended De...
A: Allowance Method - Under allowance method company make provision of uncollectible accounts at the en...
Q: I need help with just 4a please thank you.
A: The Company generally differentiate the different type of costs in order to control and track those ...
Q: Narcisco Publications established the following standard price and costs for a hardcover picture boo...
A: A flexible budget variation is any difference between the outcomes provided by a flexible budget opt...
Q: A construction company agreed to lease payments of $481.44 on construction equipment to be made at t...
A:
Q: Name: Course & Year: 1. Assume the following data pertaining to Franchise agreement between Franchis...
A: Solution Franchise is the license to make or sell a product under a certain conditions granted by th...
Q: Measures of liquidity, Salvency, and Profitability The comparative financial statements of Marshal I...
A: Ratio analysis helps to analyze the financial statements of the company. The management can take dec...
Q: Which of the operating budgets is prepared first?A. production budgetB. sales budgetC. cash received...
A: Budgets are the estimates or forecasts that are being made for future period of time. Budget prepara...
Q: 25. How much should be the underlying equity of Honda in the net assets of Hyundai?
A: Equity is the amount of money which represents to the shareholders and in the business acquisition t...
Q: At the beginning of the current year, David and Garrett formed the DG Partnership by transferring ca...
A: No gain or loss is recognized by either the partner of the partnership when a property is contribute...
Q: Preparing a Corrected Trial Balance The following trial balance of Splendid Household Services as of...
A: Trial Balance - Trial Balance is the statement prepare after posting all the general into ledgers of...
Q: January 25 Received $1150 cash for laundry services provided in January 2022. JOUonal eny y
A: Journalizing the transaction is the recording of the transaction at the initial stage and preparing ...
Q: Grummet Company is acquiring a new wood lathe with a cash purchase price of $80,000. The Wood Master...
A: Cash purchase price is the price needed to pay for purchase of product today in cash. If amount has ...
Q: January 25 Received $1150 cash for laundry services provided in January 2022. JOUonal eny xy
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: At August 1 of the current year, there are 4,000 units at P15 each of merchandise inventory. During...
A: FIFO stands for first in first out inventory method. Under the perpetual inventory method the gener...
Q: new.last part You have completed the field work in connection with your audit of Carla Corporation ...
A: Cash Flow Statement The preparation of cash flow statement is to know the actual cash movement of th...
Q: Exercise 9-5 (Algo) Calculate earned revenues LO 1 Big Blue University has a fiscal year that ends o...
A: Lets understand the basics. As per accrual concept, revenue should be recorded in the period in whic...
Q: s bought for P $ 30,000 six years ago. It will have a salvage value of $ 3,000 four years from now....
A: The sinking fund method refers to the method used for computing the depreciation of an asset which c...
Q: At the end of 2019, Framber Company received $8000 as a prepayment for renting a building to a tenan...
A: A preceding period adjustment will be used to accommodate for an inaccuracy. Any modifications to pr...
Q: Indigo Inc. manufactures an X-ray machine with an estimated life of 12 years and leases it to Chambe...
A: given Indigo Inc. manufactures an X-ray machine with an estimated life of 12 years and leases it to ...
Q: On December 31, 20X9, Peak Corporation acquired 80% of Summit Company's common stock for $160,000. T...
A: The question is related to Consolidation. The details are given as under Parent Company holding = 8...
Q: Bonita Leasing Company agrees to lease equipment to Windsor Corporation on January 1, 2020. The foll...
A: Journal entries is given below :-
Q: Unan Inc. has decided to focus strictly on producing and selling one type of pillow. For the coming ...
A: There are two type of costs which are incurred in business. Fixed costs are costs which will not cha...
Q: Direct Materials Beginning balance S5,000 Ending balance 16,000 Purchases 55,000 Direct materials us...
A: Direct material is that type of materials which is used directly for production and manufacturing of...
Q: One operating cycle of a business, which could be a month, quarter, or year, is commonly referredto ...
A: The operating cycle is the average amount of time it takes for a company to invest money to produce ...
Q: Key questions to consider when determining the appropriate consolidation adjustment entries include ...
A: Consolidation adjustment entry is the accounting entry that is to be made for consolidating the book...
Q: August 1 of the current year, there are 4,000 units at P15 each of merchandise inventory. During Au...
A: Under periodic weighted average inventory system we need to calculate weighed average cost per unit ...
Q: field work in connection with your audit of Carla Corporation for the year ended December 31, 2020. ...
A: A cash flow statement under the indirect method is prepared by adjusting the net income of the year.
Step by step
Solved in 3 steps
- Ratio Analysis Rising Stars Academy provided the following information on its 2019 balance sheet and state mcnt of cash flows: Long-term debt S 4,400 Interest expense S 398 Total liabilities 8,972 Net income 559 Total assets 38,775 Interest payments 432 Total equity 29,803 Cash flows from operations 1.015 Operating income 1.223 Income tax expenses 266 Income taxes paid 150 Required: Calculate the following ratios for Rising Stars: (a) debt to equity, (b) debt to total assets, (c) long-term debt to equity, (d) times interest earned (accrual basis), and (e) times interest earned (cash basis). (Note: Round answers to three decimal places.) CONCEPTUAL CONNECTION Interpret these results. 3.What does it mean if a bond is callableThe comparative balance sheets for Metlock Corporation show the following information. December 312020 2019Cash $33,500 $12,900Accounts receivable 12,400 10,000Inventory 12,100 9,000Available-for-sale debt investments –0– 3,000Buildings –0– 29,800Equipment 44,800 19,900Patents 5,000 6,300 $107,800 $90,900Allowance for doubtful accounts $3,100 $4,500Accumulated depreciation—equipment 2,000 4,500Accumulated depreciation—building –0– 6,000Accounts payable 5,000 3,000Dividends payable –0– 4,900Notes payable, short-term (nontrade) 3,000 4,100Long-term notes payable 31,000 25,000Common stock 43,000 33,000Retained earnings 20,700 5,900 $107,800 $90,900 Additional data related to 2020 are as follows. 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500.2. $10,000 of the long-term note payable was paid by issuing common stock.3. Cash dividends paid were $4,900.4. On January…The balance sheets for Sports Unlimited for 2021 and 2020 are provided below.SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 2020AssetsCurrent assets:Cash $ 103,500 $ 70,400Accounts receivable 46,800 32,000Inventory 44,550 71,200Prepaid rent 7,200 3,600Long-term assets:Investment in bonds 54,900 0Land 117,450 141,600Equipment 106,200 102,000Less: Accumulated depreciation (30,600) (20,800)Total…
- l-Itihad Corporation Balance SheetDecember 31, 2019AssetsLiability & EquityCurrent AssetsCurrent LiabilityCash$5,000Accounts payable22,000Short term securities10,000Accrual Account8,000Account Receivables30,000Short term debt6,000Inventory32,000Total Current Liability36,000Long-term debt40,000Total Current Assets77,000TotalLiability76,000Long term AssetsEquityNet Property & equipment70,000CommonStocks64,000Retained earnings17,000Total Equity81,000Total Liability and Equity157,000Other assts 10000Total Assets157,000Sur Corporation Income StatementDecember 31, 2019Other Financial information of Sur corporation December 31, 2019Net sales (revenue)$150,000· Average Number of Common shares outstanding 16,000 Shares· Market price of Common share $3.5Cost of goods sold80,000Gross profit70,000Operating expenses30,000EBIT- (Operating profit)40,000Interest expense10,000EBT- ( Earnings before taxes)30,000Income tax 10,000Net Income (net profit)20,000You have to find the following ratios…ABC Co. financial data for 2020 & 2019 are given below: Total Assets Total Liabilities Cash Interest-bearing Debt Net Income Interest Expense Tax Expense Depreciation Expense Debt to Equity Ratio Interest Coverage Ratio 2020 2020 $925,000 667,000 36,000 527,000 169,000 9,500 21,000 44,500 2019 times $915,000 527,000 45,000 371,000 127,000 Calculate the debt to equity ratio and the interest coverage ratio using the select financial data provided above for 2019 & 2020. (Round answers to 2 decimal places, e.g. 15.25.) 5,900 18,600 38,500 2019 timesThe summarized balance sheet of WIPRO Itd forthe year ended 31/03/2020 and 31/03/2021 are given below. Prepare funds flow statement. Liabilities Equity share capital General Reserve Pro fit&loss a/c Sundry Creditor Provision for Tax 2020 5,00,000 2,00,000 40,000 1,58,000 45,000 2021 Assets 2020 2021 Land & Building 6,00,000 2,20,000 1,32,000 1,72,000 30,000 1,80,000 Plant and Machinery 2,10,000 80,000 2,00,000 1,70,000 1,03,000 9,43,000 3,00,000 2,76,000 95,000 1,90,000 1,95,000 98,000 11,54,000 Other fixed Assets Stock Debtors Cash at bank Total 9,43,000 The following adjustment the company faces during the year. 11,54,000 Total Dividend Rs. 30,000 was paid during the year. An old machinery costing 1,20.000 was sold for 1,00,000 and the depreciation Rs 50,000.
- Particulars As on 31.3.2019(Rupees. In Lacs)As on 31.3.2020(Rupees. In Lacs)Investment in FinancialAssets- 100Equity Share Capital 150 160Long term Loans taken 100 200Dividend paid - 26Dividend received - 10Interest received - 15 Calculate the debt-equity ratio & commentGodo At May 31, 2019, FOR Deliveries reported the following amounts (in millions) in its financial statements:20192018Total Assets$ 70,000$ 68,000Total Liabilities46,20042,160Interest Expense736750Income Tax Expense155260Net Income7806,275 Required: 1. Compute the debt-to-assets ratio and times interest earned ratio for 2019 and 2018. 2-a. In 2019, were creditors providing a greater (or lesser) proportion of financing for FOR’s assets? 2-b. In 2019, was FOR more (or less) successful at covering its interest costs, as compared to 2018?Suppose the Crane Ltd's 2020 financial statements contain the following selected data (in millions). Current assets Total assets Current liabilities Total liabilities NT$3,536.0 31,408.0 3,016.0 16,640.0 Compute the following values. Interest expense Income taxes Net income NT$520.0 (a) Debt to assets ratio. (Round to O decimal places, e.g. 62%.) 1,976.0 4,590.0 (b) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) % times
- Seminole Corporation reported the following items at December 31, 2021, and 2020: (Click the icon to view the comparative financial information.) Read the requirements. Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2021. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formula and calculate the quick (acid-test) ratio for 2021. (Abbreviation used: Cash* = Cash and cash equivalents. Round your final answer to two decimal places.) Cash* + Short-term investments + Net current receivables + Total current liabilities = Quick (acid-test) ratio $ Seminole's quick (acid-test) ratio is considered fairly weak. (b) Select the formula and calculate Seminole's days' sales outstanding for 2021. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) Accounts receivable turnover = + Days' sales outstanding Seminole's days'…Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total Total assets 2020 Net plant and equipment $240,750 $310,600 a. Current ratio b. Quick ratio c. Cash ratio d. NWC ratio e. Debt-equity ratio e. Equity multiplier f. Total debt ratio f. Long-term debt ratio $8,850 $14,200 15,750 23,000 34,650 52,200 $ 59,250 $89,400 JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 300,000 400,000 2020 times times times % times times times times Liabilities and Owners' Equity Current liabilities 2021 Accounts payable Notes payable Based on the balance sheets given for Just Dew It: a. Calculate the current ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. Calculate the quick ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. Calculate the cash ratio for…Presented below is the current liabilities section of Micro Corporation. ($000) 000 2021 000 2020 Current liabilities Notes payable $ 68,713 $ 7,700 Accounts payable 179,496 101,379 Compensation to employees 60,312 31,649 Accrued liabilities 158,198 77,621 Income taxes payable 10,486 26,491 Current maturities of long-term debt $416,592 $416,649 Total current liabilities $493,797 $251,489 Instructions Answer the following questions. a. What are the essential characteristics that make an item a liability? b. How does one distinguish between a current liability and a long-term liability? c. What are accrued liabilities? Give three examples of accrued liabilities that Micro might have. d. What is the theoretically correct way to value liabilities? How are current liabilities usually valued? e. Why are notes payable reported first in the current liabilities section? f. What might be the items that…